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>DraftKings Inc. reported its second quarter 2026 financial results, highlighting growth in its core Sportsbook business and strong early momentum in its newly launched Predictions vertical.</li><li>The company generated $115 million in adjusted EBITDA during the quarter, though this figure was impacted by customer-friendly sports outcomes and higher-than-expected customer acquisition expenses.</li><li>Despite these factors, DraftKings achieved a 10% year-over-year revenue increase on a normalized basis, supported by 11% growth in Sportsbook handle and a 15% rise in overall sports consumer volume, which includes both Sportsbook and Predictions activity.</li></ul>

DraftKings Inc. reported its second quarter 2026 financial results, highlighting growth in its core Sportsbook business and strong early momentum in its newly launched Predictions vertical.The company generated $115 million in adjusted EBITDA during the quarter, though this figure was impacted by customer-friendly sports outcomes and higher-than-expected customer acquisition expenses.Despite these factors, DraftKings achieved a 10% year-over-year revenue increase on a normalized basis, supported by 11% growth in Sportsbook handle and a 15% rise in overall sports consumer volume, which includes both Sportsbook and Predictions activity.

DraftKings Is Not Just A Sportsbook Anymore — 600,000+ Customers Try Predictions!

<ul>
<li>DraftKings reported first quarter 2026 results that exceeded internal expectations with revenue increasing 17% year-over-year to over $1.6 billion, and adjusted EBITDA rising 64% year-over-year to $168 million.</li>
<li>The company achieved positive net income for the second consecutive quarter and repurchased nearly $100 million of its shares during the period.</li>
<li>Sportsbook, the core business, was the primary growth driver with revenue increasing 24% year-over-year to $1.1 billion and an improvement in net revenue margin by 140 basis points to 7.8%.</li>
</ul>


DraftKings reported first quarter 2026 results that exceeded internal expectations with revenue increasing 17% year-over-year to over $1.6 billion, and adjusted EBITDA rising 64% year-over-year to $168 million.
The company achieved positive net income for the second consecutive quarter and repurchased nearly $100 million of its shares during the period.
Sportsbook, the core business, was the primary growth driver with revenue increasing 24% year-over-year to $1.1 billion and an improvement in net revenue margin by 140 basis points to 7.8%.


DraftKings’ Hidden Growth Engine: Can Predictions Reshape The Super App Strategy?

Podcast by Andrew Walker, a PM at Rangeley Capital, Yet Another Value Podcast

Yet Another Value Podcast

Podcast by Andrew Walker, a PM at Rangeley Capital

Yet Another Value Podcast is a new podcast from Andrew Walker, the founder of yetanothervalueblog.substack.com/. We interview top investors and dive deep into stocks and companies they are currently working on and investing in. While nothing on this channel is investing advice and everyone should do their own diligence, our goal is to frequently feature edgy and actionable value and/or event driven ideas. Please see our legal and disclaimer at: https://yetanothervalueblog.substack.com/p/legal-and-disclaimer

<ul><li>DraftKings is an online sports betting operator with a focus on online gambling.</li><li>The company has experienced a significant stock price decline in the past year due to concerns about growth and the emergence of prediction markets.</li><li>DraftKings is seen as a value opportunity by investors due to its current stock price, but faces challenges in a maturing market.</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.</em></p>

DraftKings is an online sports betting operator with a focus on online gambling.The company has experienced a significant stock price decline in the past year due to concerns about growth and the emergence of prediction markets.DraftKings is seen as a value opportunity by investors due to its current stock price, but faces challenges in a maturing market.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Why DraftKings might not be a big gamble with Aganju's Tolu Bukola $DKNG

<ul>
<li>DraftKings, Inc. reported their fourth-quarter 2025 results, highlighting significant growth across various metrics, while also outlining their strategic focus on expanding into the Predictions market.</li>
<li>The company's revenue for the fourth quarter rose by 43% year-over-year to nearly $2 billion.</li>
<li>This was coupled with an impressive fourfold increase in adjusted EBITDA, reaching $343 million compared to the prior year.</li>
</ul>


DraftKings, Inc. reported their fourth-quarter 2025 results, highlighting significant growth across various metrics, while also outlining their strategic focus on expanding into the Predictions market.
The company's revenue for the fourth quarter rose by 43% year-over-year to nearly $2 billion.
This was coupled with an impressive fourfold increase in adjusted EBITDA, reaching $343 million compared to the prior year.


Is DraftKings Guidance Too Conservative Without Predictions Revenue?

<ul>
<li>DraftKings Inc. recently held its third-quarter 2025 earnings call, highlighting both achievements and challenges.</li>
<li>The company reported $1.144 billion in revenue, growing 4% year-over-year, though this was below their expectations due to unfavorable sports outcomes impacting revenue by over $300 million.</li>
<li>Despite these challenges, some positive developments were noted.</li>
</ul>


DraftKings Inc. recently held its third-quarter 2025 earnings call, highlighting both achievements and challenges.
The company reported $1.144 billion in revenue, growing 4% year-over-year, though this was below their expectations due to unfavorable sports outcomes impacting revenue by over $300 million.
Despite these challenges, some positive developments were noted.


DraftKings Inc.: An Insight Into Regulatory Developments

United States

DraftKings Inc. operates as a daily fantasy sports contest and sports betting company. The Company allows users to enter daily and weekly fantasy sports-related contests and win money based on individual player performances in American sports. DraftKings serves customers in the United States.

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DraftKings (DKNG US)

DraftKings Is Not Just A Sportsbook Anymore — 600,000+ Customers Try Predictions!

DraftKings Inc. reported its second quarter 2026 financial results, highlighting growth in its core Sportsbook business and strong early momentum...

Baptista Research

DraftKings’ Hidden Growth Engine: Can Predictions Reshape The Super App Strategy?

The company achieved positive net income for the second consecutive quarter and repurchased nearly $100 million of its shares during the period.

Baptista Research

Why DraftKings might not be a big gamble with Aganju's Tolu Bukola $DKNG

DraftKings is an online sports betting operator that has experienced growth but faced challenges, with its stock price declining and concerns about...

Yet Another Value Podcast

Is DraftKings Guidance Too Conservative Without Predictions Revenue?

DraftKings, Inc. reported their fourth-quarter 2025 results, highlighting significant growth across various metrics, while also outlining their...

Baptista Research

DraftKings Inc.: An Insight Into Regulatory Developments

The company reported $1.144 billion in revenue, growing 4% year-over-year, though this was below their expectations due to unfavorable sports...

Baptista Research

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