Rakuten Bank IPO Early Look - The Positives - Has Grown Fast over the past Few Years
Rakuten Bank, the online banking arm of Rakuten Inc (4755 JP), aims to raise around US$500m in its Japan listing in April 2023. In this note, we...
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Freee: Widened Losses No Major Concern as Freee Advances Towards Medium/Long Term Growth Strategy
Widened operating losses was not at all a surprise as the company already mentioned that it will continue to invest on user growth. Growth in large...
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Money Forward: Top Line Expands, Yet to See Meaningful Turnaround in Profitability
MF's 4QFY11/22 earnings beat estimates. EBITDA (losses) improved sequentially but we are yet to see steady improvement in profitability. Expects to...
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Money Forward - Q4 Results Reaction: Encouraging Signs of User Growth and Monetization
MF posted solid Q4 results with revenue growth at the high end of the range and a sequential improvement in EBITDA losses. FY23 guidance suggests...
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Money Forward (3994) | Corporate ARR +55% YoY
We remain bullish on Money Forward given the large TAM, high growth in customer acquisition & revenue, and low churn. Expanding services to appeal...
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