All Reports

The beat is smaller than in previous quarters since AXON 2 launched but in line with the company’s message of Software Platform revenue growing in the mid-single digits Q/Q absent software improvements similar to the…

We are updating our model following Q2 FY24 results. We are raising our price target to $58 to reflect our updated forecast. Our estimates for Q3 FY24 are: 10,445K digital-only subs at quarter end Digital-only…

Digital-only net adds were 2x better than we expected and up 43% v. Q1. Digital-only ARPU came in as expected. The release calls out growth in digital display at the NYTG and The Athletic ad…

We are initiating coverage of RDDT with a Buy rating and 12 month price target of $67. Our thesis is straightforward: we believe that the recent and continuing product and monetization improvements will drive upside…

We are updating our estimates following Q2 report. Our rating and price target remain unchanged. Q3 FY24: We expect Platform revenue of $851m and gross profit of $463m, Devices revenue of $159m and gross profit of…

Another quarter of beating the estimates and guiding to basically in-line revenue in Q3. A few things stand out: (i) the Shareholder Letter this time highlights initiatives to accelerate Platform revenue growth; (ii) The Roku…

We think that in addition to the obvious task of proving that it can deliver on the guidance, DV is facing an additional challenge. It appears that the growth drivers are shifting and, as a…

Looks like Q2 print may be the first step in the turnaround of DV story. We would like to hear the management’s comments on the problem customers and early thoughts on what growth could be…

We are introducing Q2 FY24 estimates. We are not providing other forward estimates as we currently expect the acquisition by WMT to close before VZIO reports Q3. Q2 FY24: Smart TV shipments of 1.0m, Device segment…

Q1 FY25: We expect subscription revenue of $134m, marketplace & other revenue of $38m and total company revenue of $172m. We are modeling adjusted gross profit of $128m and non-GAAP operating income of $25m. FY25: We expect…

We are updating our estimates ahead of Q2 report. We are adjusting our price target to $23 and maintain Buy rating. Q2 FY24: We are modeling Measurement revenue of $54m, up 19% Y/Y, Activation revenue…

This is a corrected version of the note published today at 11:14am ET. Our price target and rating remain unchanged. We argue that: (i) Create Solutions revenue growth acceleration is a necessary but not a…

We argue that: (i) Create Solutions revenue growth acceleration is a necessary but not a sufficient condition for the stock price recovery; (ii) without an improvement in the top line trend at Grow Solutions, especially…

We are upgrading MGNI shares to Buy from Neutral and raising our 12 month price target to $17. We believe that the negative sentiment that weighed on the stock prior to the announcement of the…

We are updating our model following Q4 FY24 report. Q1 FY25: We expect subscription revenue of $172m, marketplace & other revenue of $38m and total company revenue of $172m. We are modeling adjusted gross profit of…