Research from Atrium Research, Atrium Research Corporation

Atrium Research

Research from Atrium Research

Atrium Research Corporation

Atrium Research provides institutional quality issuer paid research on public equities in North America. Our investment philosophy takes a 3-5 year view on equities currently being overlooked by the market. Our research process emphasizes understanding the key performance metrics for each specific company, trustworthy management teams, unit economics, and an in-depth valuation analysis. 

Our research product includes in-depth initiation reports, research notes, thematic research pieces, and company fact sheets.

Equity Bottom-Up

Braille Energy Systems / Equity Bottom-Up

<ul>
<li>Our team got an operational and corporate update from CEO Lindsay Weatherdon last week, reaffirming our conviction in the story.</li>
<li>Electrafy is progressing well with conversations with potential clients including home service companies, electrical wholesalers, and residential home builders.</li>
<li>Last week, we caught up with CEO Lindsay Weatherdon to get an operational and corporate update on Braille Energy Systems.</li>
</ul>


Our team got an operational and corporate update from CEO Lindsay Weatherdon last week, reaffirming our conviction in the story.
Electrafy is progressing well with conversations with potential clients including home service companies, electrical wholesalers, and residential home builders.
Last week, we caught up with CEO Lindsay Weatherdon to get an operational and corporate update on Braille Energy Systems.


BES: Key Takeaways from Management Meeting

<ul>
<li>Braille reported Q3/23 financial results that were mixed compared to our expectations. </li>
<li>Braille Battery remains well positioned to expand internationally and return to its historical sales growth rate of ~15% while expanding gross margin in the process.</li>
<li>The results were mixed relative to our expectations, being in line for revenue and adjusted EBITDA but missing on gross margin.</li>
</ul>


Braille reported Q3/23 financial results that were mixed compared to our expectations. 
Braille Battery remains well positioned to expand internationally and return to its historical sales growth rate of ~15% while expanding gross margin in the process.
The results were mixed relative to our expectations, being in line for revenue and adjusted EBITDA but missing on gross margin.


BES: Mixed Q3 Financials; Long-Term Thesis Intact

<ul>
<li>Braille Battery will be expanding its product offering for motorcycles, ATV/UTVs, and personal watercrafts.</li>
<li>This morning, Braille Energy Systems (BES:TSXV) provided an operational update on its three divisions, Braille Battery, Electrafy, and Firebulb.</li>
<li>Braille Battery BES announced that it will be expanding its product range of “Made in USA” Power Sports Batteries to provide additional ultra-high cranking and high-capacity lithium batteries for its Motorcycle V-Twin segment, ATV/UTVs, and personal watercrafts.</li>
</ul>


Braille Battery will be expanding its product offering for motorcycles, ATV/UTVs, and personal watercrafts.
This morning, Braille Energy Systems (BES:TSXV) provided an operational update on its three divisions, Braille Battery, Electrafy, and Firebulb.
Braille Battery BES announced that it will be expanding its product range of “Made in USA” Power Sports Batteries to provide additional ultra-high cranking and high-capacity lithium batteries for its Motorcycle V-Twin segment, ATV/UTVs, and personal watercrafts.


<ul><li>Braille Energy Systems reported Q2 financial results that were in line with our expectations.</li><li>Revenue came in at $1.1M (+3% YoY, +26% QoQ) compared to our estimate of $1.1M.</li><li>We are maintaining our BUY rating and $0.15/share target price on Braille Energy Systems.</li></ul>

Braille Energy Systems reported Q2 financial results that were in line with our expectations.Revenue came in at $1.1M (+3% YoY, +26% QoQ) compared to our estimate of $1.1M.We are maintaining our BUY rating and $0.15/share target price on Braille Energy Systems.

BES: Q2 Financials In Line with Expectations

<ul><li>Braille Battery is a market leader in performance batteries for motorsports and racing vehicles.</li><li>Braille Battery has posted a 56% sales CAGR over the last four years and is soon to be profitable</li><li>BES will be launching a residential battery backup power system in the coming quarters with potential to gain major market share</li></ul>

Braille Battery is a market leader in performance batteries for motorsports and racing vehicles.Braille Battery has posted a 56% sales CAGR over the last four years and is soon to be profitableBES will be launching a residential battery backup power system in the coming quarters with potential to gain major market share

BES: A Micro-Cap That Punches Above its Weight

Canada

Braille Energy Systems Inc. operates as a battery manufacturing company. The Company offers battery storage solutions for the transportations, mining, medical, military, railway, audio, and aviation industries. Braille Energy Systems serves customers worldwide.

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Braille Energy Systems (BES CN)

BES: Key Takeaways from Management Meeting

Our team got an operational and corporate update from CEO Lindsay Weatherdon last week, reaffirming our conviction in the story.

Atrium Research

BES: Mixed Q3 Financials; Long-Term Thesis Intact

Braille Battery remains well positioned to expand internationally and return to its historical sales growth rate of ~15% while expanding gross...

Atrium Research

BES: Positive Operational Update

This morning, Braille Energy Systems (BES:TSXV) provided an operational update on its three divisions, Braille Battery, Electrafy, and Firebulb.

Atrium Research

BES: Q2 Financials In Line with Expectations

Braille Energy Systems reported Q2 financial results that were in line with our expectations. Revenue came in at $1.1M (+3% YoY, +26% QoQ) compared...

Atrium Research

BES: A Micro-Cap That Punches Above its Weight

Braille Battery is a market leader in performance batteries for motorsports and racing vehicles. Braille Battery has posted a 56% sales CAGR over...

Atrium Research

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