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>Innodata Inc. reported strong financial results for the second quarter of 2025, showing a robust 79% increase in revenue year-over-year, reaching $58.4 million.</li>
<li>This growth was accompanied by a significant rise in adjusted EBITDA, which surged to $13.2 million, representing a 375% increase compared to the same period last year.</li>
<li>The company's financial health continues to improve, with cash holdings increasing from $56.6 million at the end of Q1 to $59.8 million at the end of Q2.</li>
</ul>


Innodata Inc. reported strong financial results for the second quarter of 2025, showing a robust 79% increase in revenue year-over-year, reaching $58.4 million.
This growth was accompanied by a significant rise in adjusted EBITDA, which surged to $13.2 million, representing a 375% increase compared to the same period last year.
The company's financial health continues to improve, with cash holdings increasing from $56.6 million at the end of Q1 to $59.8 million at the end of Q2.


Innodata Just Cracked The AI Code—Here’s Why Big Tech Is Flocking To It!

Founder, BWS Financial Inc

Hamed Khorsand

Founder

Independent Stock Specific Research

BWS Financial Inc

BWS provides independent stock specific research focused on companies with distinct value that are going through a special situation where there is a tangible catalyst not priced in. The catalyst can be anything from new product, restructuring, M&A, management change, change in business strategy, etc. BWS’s focus is to understand the change and evaluate the potential return for investors.

BWS utilizes a self formed proprietary approach in discovering stocks by putting great emphasis on deep research. BWS does generate short recommendations following a similar criteria.

<ul>
<li>INOD is benefiting from the movement to incorporate artificial intelligence (“A.I.”) into many applications</li>
<li>INOD provides the datasets required for training A.I. and it has quickly become a leading provider of such service</li>
<li>The Company is now on pace to grow at a faster pace than expected and should lead to higher earnings and free cash flow in coming quarters</li>
</ul>


INOD is benefiting from the movement to incorporate artificial intelligence (“A.I.”) into many applications
INOD provides the datasets required for training A.I. and it has quickly become a leading provider of such service
The Company is now on pace to grow at a faster pace than expected and should lead to higher earnings and free cash flow in coming quarters


<ul>
<li>The risk to INOD experiencing a sequential decline in spending activity in the near-term could have been alleviated from the continued spending in artificial intelligence (“A.I.”).   </li>
<li>AMZN and GOOGL have their internally developed processors ready for high performance deep learning. The new chips suggest A.I. training is not going anywhere and could expand in 2025.   </li>
<li>INOD's revenue growth has been predominantly from one customer. This should begin to change in 2025. </li>
</ul>


The risk to INOD experiencing a sequential decline in spending activity in the near-term could have been alleviated from the continued spending in artificial intelligence (“A.I.”).   
AMZN and GOOGL have their internally developed processors ready for high performance deep learning. The new chips suggest A.I. training is not going anywhere and could expand in 2025.   
INOD's revenue growth has been predominantly from one customer. This should begin to change in 2025. 


<ul>
<li>INOD hired more people in the second quarter to keep up with demand as revenue grew by approximately 66 percent from the year ago period. </li>
<li>INOD has expanded its relationship with technology companies and announced an additional customer win. INOD has seven large technology companies as customers</li>
<li>The pace of wins over the course of this year puts INOD on the path to exceed our original estimates. INOD’s updated guidance for 2024  </li>
</ul>


INOD hired more people in the second quarter to keep up with demand as revenue grew by approximately 66 percent from the year ago period. 
INOD has expanded its relationship with technology companies and announced an additional customer win. INOD has seven large technology companies as customers
The pace of wins over the course of this year puts INOD on the path to exceed our original estimates. INOD’s updated guidance for 2024  


High Quality Stock Setups, Weekly Stock Bull Finder

Weekly Stock Bull Finder

High Quality Stock Setups

Finding high potential stock setups on quality companies

Thematic (Sector/Industry)

<ul><li>In any portfolio, it’s always good to have a listing of up and coming companies on hand which you may be interested in which may have recently IPO’d, did a significant acquisition, or has introduced a new and exciting product or service.</li><li>These companies may also have parabolic forward Wall St. estimates for both revenue and or profits.</li><li>I generally refer to this listing as my “wild broncos” listing and they generally can have wild price and volume swings (based upon earnings releases, press releases, investor day presentations, or analyst upgrades) and sometimes can often come under attack by short seller reports.</li></ul>

In any portfolio, it’s always good to have a listing of up and coming companies on hand which you may be interested in which may have recently IPO’d, did a significant acquisition, or has introduced a new and exciting product or service.These companies may also have parabolic forward Wall St. estimates for both revenue and or profits.I generally refer to this listing as my “wild broncos” listing and they generally can have wild price and volume swings (based upon earnings releases, press releases, investor day presentations, or analyst upgrades) and sometimes can often come under attack by short seller reports.

United States

Innodata Inc. provides services, products and solutions that their clients use to create, manage and distribute digital information.  The Company provides business process, technology and consulting services to assist clients in setting digital content production and product strategies.

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Innodata (INOD US)

Innodata Just Cracked The AI Code—Here’s Why Big Tech Is Flocking To It!

Innodata Inc. reported strong financial results for the second quarter of 2025, showing a robust 79% increase in revenue year-over-year, reaching...

Baptista Research

INOD: Profitable AI, Initiating

Initiation on Innodata (INOD) with a Buy Rating and $24 price target. INOD is a misunderstood data engineering company benefiting from working with...

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INOD: Growth Pathway in 2025

The current spending environment to improve, especially in the second half of 2025. There is more clarity as to the workload by hyperscalers not...

BWS Financial Inc

INOD: Accelerated Growth, PT to $30

INOD is growing faster than expected with new contract awards in addition to the work INOD has already won. The Company is now projecting revenue...

BWS Financial Inc

Weekly Stock Bullfinder - Week of 7/3

In any portfolio, it’s always good to have a listing of up and coming companies on hand which you may be interested in which may have recently...

Weekly Stock Bull Finder

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