Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul>
<li>Adobe Inc. delivered robust financial results for the first quarter of fiscal year 2024, with a revenue of $5.18 billion.</li>
<li>This represents a 12% year-over-year growth, demonstrating the significant role of Adobe products in powering the global digital economy.</li>
<li>Along with a strong revenue performance, Adobe had GAAP earnings per share for the quarter at $1.36 and non-GAAP earnings per share at $4.48, reflecting an 18% growth year-over-year.</li>
</ul>


Adobe Inc. delivered robust financial results for the first quarter of fiscal year 2024, with a revenue of $5.18 billion.
This represents a 12% year-over-year growth, demonstrating the significant role of Adobe products in powering the global digital economy.
Along with a strong revenue performance, Adobe had GAAP earnings per share for the quarter at $1.36 and non-GAAP earnings per share at $4.48, reflecting an 18% growth year-over-year.


Adobe Inc.: When Will Its Adoption Of Generative AI Reflect On Its Top-Line? - Major Drivers

<ul><li>Adobe Inc. delivered an all-around beat in the fourth quarter.</li><li>The success can be attributed to pioneering innovations in Creative Cloud and Document businesses, positioning Creative Cloud as the preferred platform for content creation globally.</li><li>Creative Cloud had a stellar quarter, generating a significant $3 billion in revenue.</li></ul>

Adobe Inc. delivered an all-around beat in the fourth quarter.The success can be attributed to pioneering innovations in Creative Cloud and Document businesses, positioning Creative Cloud as the preferred platform for content creation globally.Creative Cloud had a stellar quarter, generating a significant $3 billion in revenue.

Adobe Inc.: The Creative Cloud Revolution Helping Them Lead The Way! - Major Drivers

Mostly Borrowed Ideas Deep Dives, MBI Deep Dives

MBI Deep Dives

Mostly Borrowed Ideas Deep Dives

MBI is the abbreviation for “Mostly Borrowed Ideas”. Why “Mostly Borrowed Ideas?” As a generalist, I do not have a background in any particular sector. I enjoy navigating across industries, businesses, and countries to learn, understand, and connect the dots. In any case, most ideas and innovations are incremental in nature. Very few of us are smart enough to come up with truly original or groundbreaking ideas. I am Abdullah Al-Rezwan. I was born and brought up in Bangladesh. I went to University of Dhaka for my undergrad and majored in Finance. After working three and half years in Equity Research (Sell-side) covering Financial Sector in Bangladesh, I left Bangladesh to pursue my MBA in the US. I graduated within top 10% of the class from Cornell University's two-year MBA program and worked on the buy-side following my graduation. During my time at Cornell, I won two stock pitch competitions and also became finalists in four other competitions. I thoroughly enjoyed my stint as a generalist in the US large cap team at Madison Investments and covered a wide range of companies from UnitedHealth to Amazon and Boeing before US immigration reality paused my career in investment management. As my work authorization expired, I moved to Canada in January, 2021. Then in early 2022, I was able to return to the US.

<ul><li>Revenue: Digital Media net new ARR $470 Mn ($50 mn higher than guide).</li><li>Gross Margin: Digital Media gross margin remains steady at ~96%, but Digital Experience posted its highest ever gross margin of 67.3% in 2Q'23.</li><li>Cost Structure: 2Q'23 GAAP operating margin was 33.7%, down from 34.9% in 2Q'22.</li></ul>

Revenue: Digital Media net new ARR $470 Mn ($50 mn higher than guide).Gross Margin: Digital Media gross margin remains steady at ~96%, but Digital Experience posted its highest ever gross margin of 67.3% in 2Q'23.Cost Structure: 2Q'23 GAAP operating margin was 33.7%, down from 34.9% in 2Q'22.

<ul><li>Adobe Inc. managed to exceed analyst expectations in terms of revenue as well as earnings.</li><li>In the third quarter, Adobe accomplished remarkable feats in Digital Media.</li><li>Acrobat and PDF solutions thrive as indispensable tools for professionals and personal users in the Document Cloud business.</li></ul>

Adobe Inc. managed to exceed analyst expectations in terms of revenue as well as earnings.In the third quarter, Adobe accomplished remarkable feats in Digital Media.Acrobat and PDF solutions thrive as indispensable tools for professionals and personal users in the Document Cloud business.

Adobe Inc.: New AI Investments That Are About To Change Everything! - Major Drivers

<ul><li>Adobe delivered a solid result and managed an all-around beat in the last quarter.</li><li>In the quarter, they generated $659 million in Document Cloud revenue, up 14% year on year.</li><li>Additionally, Adobe introduced a brand-new version of Adobe Express with Firefly generative AI capabilities, which is revolutionizing the way everyone creates and distributes exceptional content.</li></ul>

Adobe delivered a solid result and managed an all-around beat in the last quarter.In the quarter, they generated $659 million in Document Cloud revenue, up 14% year on year.Additionally, Adobe introduced a brand-new version of Adobe Express with Firefly generative AI capabilities, which is revolutionizing the way everyone creates and distributes exceptional content.

Adobe Inc.: AI Investments To Save The Day? – Key Drivers

United States

Adobe Systems Incorporated develops, markets, and supports computer software products and technologies.  The Company's products allow users to express and use information across all print and electronic media.  Adobe offers a line of application software products, type products, and content for creating, distributing, and managing information.

Adobe Systems (ADBE US)

Adobe Inc.: When Will Its Adoption Of Generative AI Reflect On Its Top-Line? - Major Drivers

Adobe Inc. delivered robust financial results for the first quarter of fiscal year 2024, with a revenue of $5.18 billion. This represents a 12%...

Baptista Research

Adobe Inc.: The Creative Cloud Revolution Helping Them Lead The Way! - Major Drivers

Adobe Inc. delivered an all-around beat in the fourth quarter. The success can be attributed to pioneering innovations in Creative Cloud and...

Baptista Research

Adobe 2Q'23 Update

Revenue: Digital Media net new ARR $470 Mn ($50 mn higher than guide). Gross Margin: Digital Media gross margin remains steady at ~96%, but Digital...

MBI Deep Dives

Adobe Inc.: New AI Investments That Are About To Change Everything! - Major Drivers

Adobe Inc. managed to exceed analyst expectations in terms of revenue as well as earnings. In the third quarter, Adobe accomplished remarkable...

Baptista Research

Adobe Inc.: AI Investments To Save The Day? – Key Drivers

Adobe delivered a solid result and managed an all-around beat in the last quarter. In the quarter, they generated $659 million in Document Cloud...

Baptista Research