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>Digital Turbine, Inc.'s latest financial results demonstrate a blend of positive developments and ongoing challenges.</li><li>For the fiscal fourth quarter ending March 2025, the company returned to year-over-year growth, generating $119.1 million in revenue and $20.5 million in EBITDA, with a non-GAAP earnings per share of $0.10.</li><li>This marks a 6% increase in revenue compared to the previous year and a significant 66% rise in year-over-year EBITDA.</li></ul>

Digital Turbine, Inc.'s latest financial results demonstrate a blend of positive developments and ongoing challenges.For the fiscal fourth quarter ending March 2025, the company returned to year-over-year growth, generating $119.1 million in revenue and $20.5 million in EBITDA, with a non-GAAP earnings per share of $0.10.This marks a 6% increase in revenue compared to the previous year and a significant 66% rise in year-over-year EBITDA.

Digital Turbine: Expansion of Device Footprint

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

<ul>
<li>The last week was a very busy one. The coming week has some announcements and implementations but is a relatively quieter one.</li>
<li>The <a href="https://www.smartkarma.com/entities/sse-science-and-technology-innovation-board-50-index" target="_blank" data-smartkarma-citation="entities:29279:1" rel="noopener">SSE STAR50 (STAR50 INDEX)</a> and STAR100 Index changes for March will be implemented at the close on Friday, the 8th.</li>
<li>Another week of inflows for the <a href="https://www.smartkarma.com/entities/ishares-msci-emerging-markets-223f5da3-7054-4e4f-bc55-b7f0852c2581" target="_blank" data-smartkarma-citation="entities:31998:1" rel="noopener">iShares Emerging Markets ex-China (EMXC US)</a> ETF as creations cross US$2bn for 2024. ETF AUM has gone from US$420m in 2021 to US$11bn now!</li>
</ul>


The last week was a very busy one. The coming week has some announcements and implementations but is a relatively quieter one.
The SSE STAR50 (STAR50 INDEX) and STAR100 Index changes for March will be implemented at the close on Friday, the 8th.
Another week of inflows for the iShares Emerging Markets ex-China (EMXC US) ETF as creations cross US$2bn for 2024. ETF AUM has gone from US$420m in 2021 to US$11bn now!


Index Rebalance & ETF Flow Recap: STAR50/100, FXI, NIFTY/NEXT50, S&P500, KOSPI, Goodman, Ecopro BM

<ul><li>Digital Turbine, Inc. delivered mixed results for the previous quarter, with revenues above the analyst consensus.</li><li>With $146.4 million in revenue, $27 million in EBITDA, and non-GAAP earnings per share of $0.18, the company demonstrated significant improvement compared to the previous quarter.</li><li>Continuing the multi-year partnership will enhance Digital Turbine's rate of innovation and expand its scale to a greater extent.</li></ul>

Digital Turbine, Inc. delivered mixed results for the previous quarter, with revenues above the analyst consensus.With $146.4 million in revenue, $27 million in EBITDA, and non-GAAP earnings per share of $0.18, the company demonstrated significant improvement compared to the previous quarter.Continuing the multi-year partnership will enhance Digital Turbine's rate of innovation and expand its scale to a greater extent.

Digital Turbine Inc.: Partnership Expansion Alert! New Deals with Google Cloud & SADA! - Major Drivers

<ul><li>Digital Turbine delivered a mixed set of results for the previous quarter, with revenues above analyst expectations but below-par earnings.</li><li>The company had an 11% decline in fiscal '23 revenue due to soft advertiser spending and macro headwinds impacting their On Device Solutions and App Growth Platform businesses.</li><li>Digital Turbine aims to build alternative app stores with equity positions in companies like Aptoide, easing app porting and payment management and tapping into the in-app purchasing market.</li></ul>

Digital Turbine delivered a mixed set of results for the previous quarter, with revenues above analyst expectations but below-par earnings.The company had an 11% decline in fiscal '23 revenue due to soft advertiser spending and macro headwinds impacting their On Device Solutions and App Growth Platform businesses.Digital Turbine aims to build alternative app stores with equity positions in companies like Aptoide, easing app porting and payment management and tapping into the in-app purchasing market.

Digital Turbine Inc.: 4 Critical Factors Impacting The Company’s Recent Performance – Financial Forecasts

<ul><li>Digital Turbine's Q3 results were a major disappointment as the company failed to meet the revenue expectations as well as the earnings expectations of Wall Street.</li><li>In the quarter, revenue decreased by 25% from the prior year to $162.3 million which was unexpected.</li><li>Regarding ad placement kinds, the company has kept a portfolio that is evenly distributed among banner, interstitial, and video ads.</li></ul>

Digital Turbine's Q3 results were a major disappointment as the company failed to meet the revenue expectations as well as the earnings expectations of Wall Street.In the quarter, revenue decreased by 25% from the prior year to $162.3 million which was unexpected.Regarding ad placement kinds, the company has kept a portfolio that is evenly distributed among banner, interstitial, and video ads.

United States

Digital Turbine, Inc. delivers a mobile services platform that works with mobile operators and third-party publishers to provide portal management, user interface, content development and billing technology that enables the responsible distribution of mobile entertainment.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Digital Turbine (APPS US)

Digital Turbine: Expansion of Device Footprint

Digital Turbine, Inc.'s latest financial results demonstrate a blend of positive developments and ongoing challenges. For the fiscal fourth...

Baptista Research

Index Rebalance & ETF Flow Recap: STAR50/100, FXI, NIFTY/NEXT50, S&P500, KOSPI, Goodman, Ecopro BM

This recap highlights Insights covering Asian index rebalances (announcements/ forecasts/ IPO Fast Entry/ M&A driven changes). We also highlight...

Brian Freitas

Digital Turbine Inc.: Partnership Expansion Alert! New Deals with Google Cloud & SADA! - Major Drivers

Digital Turbine, Inc. delivered mixed results for the previous quarter, with revenues above the analyst consensus. With $146.4 million in revenue,...

Baptista Research

Digital Turbine Inc.: 4 Critical Factors Impacting The Company’s Recent Performance – Financial Forecasts

Digital Turbine delivered a mixed set of results for the previous quarter, with revenues above analyst expectations but below-par earnings. The...

Baptista Research

Digital Turbine Inc.: Major Drivers

Digital Turbine's Q3 results were a major disappointment as the company failed to meet the revenue expectations as well as the earnings...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)