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

<ul>
<li>This series went on a brief hiatus through 2025 as takeouts of small-cap Canadian equities slowed down, however, things appear to be heating up again with a flurry of acquisitions happening over the last few months.</li>
<li>Our potential takeouts portfolio is up 96% since inception, representing 37% annualized and is up 24% in 2025, slightly lagging the resource-heavy TSX last yer.</li>
<li>The portfolio successfully predicted four takeouts.</li>
</ul>


This series went on a brief hiatus through 2025 as takeouts of small-cap Canadian equities slowed down, however, things appear to be heating up again with a flurry of acquisitions happening over the last few months.
Our potential takeouts portfolio is up 96% since inception, representing 37% annualized and is up 24% in 2025, slightly lagging the resource-heavy TSX last yer.
The portfolio successfully predicted four takeouts.


Finding the Next Takeout in Canadian Small-Caps - Part Five

<ul><li>What you need to know: • Since our last note in September, there have been 11 new takeouts in Canadian small-caps.</li><li>This has accelerated in recent weeks with the acquisitions of Softchoice, Quisitive, and Carebook.</li><li>• Our potential takeouts portfolio is up 61% since inception (November 2023) and 13% since our last note, compared to the TSX up 28% and 9% respectively.</li></ul>

What you need to know: • Since our last note in September, there have been 11 new takeouts in Canadian small-caps.This has accelerated in recent weeks with the acquisitions of Softchoice, Quisitive, and Carebook.• Our potential takeouts portfolio is up 61% since inception (November 2023) and 13% since our last note, compared to the TSX up 28% and 9% respectively.

Finding the Next Takeout in Canadian Small-Caps - Part Four

<ul>
<li>Since our last note in May, there have been 10 additional takeouts in Canadian small-caps, most of which coming in a significant premiums.</li>
<li>The new acquisitions largely fit within the framework outlined in previous reports.</li>
<li>Our potential takeouts portfolio is up 43% since inception (November 2023) and 17% since our last note, compared to the TSX up 18% and 3% respectively.</li>
</ul>


Since our last note in May, there have been 10 additional takeouts in Canadian small-caps, most of which coming in a significant premiums.
The new acquisitions largely fit within the framework outlined in previous reports.
Our potential takeouts portfolio is up 43% since inception (November 2023) and 17% since our last note, compared to the TSX up 18% and 3% respectively.


Finding the Next Takeout in Canadian Small-Caps - Part Three

Canada

Gatekeeper is a provider of intelligent video solutions designed to provide a safer transportation environment for children, passengers, and public safety personnel on multiple transportation modes. The Company uses AI, video analytics, and mobile data collectors to inter-connect public transit assets as part of intelligent transportation systems for Smart City initiatives.

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Gatekeeper Systems (GSI CN)

Finding the Next Takeout in Canadian Small-Caps - Part Five

Our potential takeouts portfolio is up 96% since inception, representing 37% annualized and is up 24% in 2025, slightly lagging the resource-heavy...

Atrium Research

Finding the Next Takeout in Canadian Small-Caps - Part Four

What you need to know: • Since our last note in September, there have been 11 new takeouts in Canadian small-caps. This has accelerated in recent...

Atrium Research

Finding the Next Takeout in Canadian Small-Caps - Part Three

Since our last note in May, there have been 10 additional takeouts in Canadian small-caps, most of which coming in a significant premiums.

Atrium Research

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52-week Range

Market Cap (USDm)

P/E

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