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>IFA reported Q1 financials that beat our estimates across the board with revenue of $27.5M (+288% YoY), compared to our estimates of $25.1M.</li>
<li>Adjusted EBITDA came in at $5.7M (21% margin) vs. our $1.0M and well-beyond management’s past commentary on profitability.</li>
<li>Given the positive momentum on both growth and margins for 2026 and beyond, we are increasing our estimates, now aligning with management’s new targets for margins.</li>
</ul>


IFA reported Q1 financials that beat our estimates across the board with revenue of $27.5M (+288% YoY), compared to our estimates of $25.1M.
Adjusted EBITDA came in at $5.7M (21% margin) vs. our $1.0M and well-beyond management’s past commentary on profitability.
Given the positive momentum on both growth and margins for 2026 and beyond, we are increasing our estimates, now aligning with management’s new targets for margins.


IFA: Increasing Target Price on Monster Q1 Revenue and Profitability

<ul>
<li>iFabric’s Intelligent Fabrics division is seeing explosive growth, led by its antibacterial and antimicrobial medical scrubs.</li>
<li>Management recently guided for 267% YoY revenue growth in Q1.</li>
<li>The Company has seen a strong expansion of its distribution network in both big-box retailers and wholesale clubs in North America.</li>
</ul>


iFabric’s Intelligent Fabrics division is seeing explosive growth, led by its antibacterial and antimicrobial medical scrubs.
Management recently guided for 267% YoY revenue growth in Q1.
The Company has seen a strong expansion of its distribution network in both big-box retailers and wholesale clubs in North America.


IFA: Explosive Revenue Growth Signals Multi-Year Runway in Medical Scrubs

<ul><li>Quarterly Coverage Update Q3/26 marked a return to outperformance for our coverage universe.</li><li>Our covered companies rose 7.1% on average during the quarter, ahead of the S&P 500 (+2.2%), the TSX (+1.1%), and the TSXV, which declined 1.6%, generating ~6% of alpha over our benchmark (the TSX).</li><li>Our coverage universe has now outperformed its benchmark in seven of the nine quarters since we began tracking it (see Figure 1 below).</li></ul>

Quarterly Coverage Update Q3/26 marked a return to outperformance for our coverage universe.Our covered companies rose 7.1% on average during the quarter, ahead of the S&P 500 (+2.2%), the TSX (+1.1%), and the TSXV, which declined 1.6%, generating ~6% of alpha over our benchmark (the TSX).Our coverage universe has now outperformed its benchmark in seven of the nine quarters since we began tracking it (see Figure 1 below).

Mayfair Gold Corp - Q3/26 Recap: All Our Research in One Place!

<ul><li>Quarterly Coverage Update This quarter marks two years since we launched our quarterly coverage recap.</li><li> Over those last two years, our coverage universe has expanded from 13 names to 52, and our footprint across the investor community has continued to widen to new levels.</li><li> However, the metals and mining sector has been a tough place to be since the sector's strong run faded after January, and with ~70% of our coverage universe sitting in the space, we are heavily exposed to it.</li></ul>

Quarterly Coverage Update This quarter marks two years since we launched our quarterly coverage recap. Over those last two years, our coverage universe has expanded from 13 names to 52, and our footprint across the investor community has continued to widen to new levels. However, the metals and mining sector has been a tough place to be since the sector's strong run faded after January, and with ~70% of our coverage universe sitting in the space, we are heavily exposed to it.

THS Maple Holdings Ltd - Q2/26 Recap: All Our Research in One Place!

Canada

iFabric Corp. is engaged in the business of designing and manufacturing women's intimate apparel and, in particular, a range of specialty bras.  The Company is also in the business of distributing a range of specialty textiles as well as a number of chemical products that are suitable for application to textiles.

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iFabric (IFA CN)

IFA: Increasing Target Price on Monster Q1 Revenue and Profitability

IFA reported Q1 financials that beat our estimates across the board with revenue of $27.5M (+288% YoY), compared to our estimates of $25.1M.

Atrium Research

IFA: Explosive Revenue Growth Signals Multi-Year Runway in Medical Scrubs

The Company has seen a strong expansion of its distribution network in both big-box retailers and wholesale clubs in North America.

Atrium Research

Mayfair Gold Corp - Q3/26 Recap: All Our Research in One Place!

Quarterly Coverage Update Q3/26 marked a return to outperformance for our coverage universe. Our covered companies rose 7.1% on average during the...

Atrium Research

THS Maple Holdings Ltd - Q2/26 Recap: All Our Research in One Place!

Quarterly Coverage Update This quarter marks two years since we launched our quarterly coverage recap. Over those last two years, our coverage...

Atrium Research

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