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>nCino, Inc., a company focused on providing cloud banking solutions to financial institutions, reported its financial results for the third quarter of the fiscal year 2026.</li><li>The company, under the leadership of CEO Sean Desmond and CFO Greg Orenstein, highlighted both achievements and challenges in the quarter, with a focus on their strategic initiatives and financial performance.</li><li>nCino reported total revenues of $152.2 million for Q3, representing a year-over-year increase of 10%.</li></ul>

nCino, Inc., a company focused on providing cloud banking solutions to financial institutions, reported its financial results for the third quarter of the fiscal year 2026.The company, under the leadership of CEO Sean Desmond and CFO Greg Orenstein, highlighted both achievements and challenges in the quarter, with a focus on their strategic initiatives and financial performance.nCino reported total revenues of $152.2 million for Q3, representing a year-over-year increase of 10%.

nCino’s Global Expansion Playbook: Platform Standardization, AI Agents, & Scalable Growth!

<ul><li>NCino's latest financial results for the second quarter of fiscal year 2026 present a nuanced picture of the company's performance and strategic direction.</li><li>The company, which offers cloud-based solutions for financial institutions, reported total revenues of $148.8 million, representing a 12% increase year-over-year.</li><li>Subscription revenues showed a notable 15% rise, reaching $130.8 million.</li></ul>

NCino's latest financial results for the second quarter of fiscal year 2026 present a nuanced picture of the company's performance and strategic direction.The company, which offers cloud-based solutions for financial institutions, reported total revenues of $148.8 million, representing a 12% increase year-over-year.Subscription revenues showed a notable 15% rise, reaching $130.8 million.

nCino’s Mortgage Mastery: The Surprising Bright Spot in a Tough Economy!

<ul><li>In the first quarter of fiscal year 2026, nCino, Inc. reported financial results that provide insights into both its strengths and areas for improvement.</li><li>Total revenues reached $144.1 million, marking a 13% year-over-year increase.</li><li>This growth was primarily driven by robust subscription revenues, which grew by 14% to $125.6 million.</li></ul>

In the first quarter of fiscal year 2026, nCino, Inc. reported financial results that provide insights into both its strengths and areas for improvement.Total revenues reached $144.1 million, marking a 13% year-over-year increase.This growth was primarily driven by robust subscription revenues, which grew by 14% to $125.6 million.

nCino Inc.: Is The Robust Consumer Lending Momentum Here To Stay?

India focused: IPO, special situations, Stylus Holdings

Himanshu Dugar

India focused: IPO, special situations

Stylus Holdings

Stylus Holdings is a buy-side equity research firm. We offer bottom-up investment ideas as well as provide on demand equity research and portfolio tracking. 
At Stylus, our focus is to identify market dislocations that can generate 20+% IRR with a reasonable margin of safety. As part of our research process, we do a deep dive into the fundamentals of the company, evaluate their competitive positioning and assess their valuation.
Our investment team is led by Himanshu Dugar. Himanshu is a Chartered Accountant and a CFA charter holder. He has 10+ years of active experience in the stock market with stints at CRISIL Research, a S&P Global copmany and Miras Investments, a single family office based in Dubai.

Equity Research Firm

<ul>
<li>Amagi's unified cloud-based media infrastructure serves to digitise traditional media content and enable monetisation. Its two-way platform supports not just the content-owners but also distributors globally with varied content access</li>
<li>By attracting both media companies and distributors, Amagi benefits from a content-driven flywheel effect, creating structural stickiness with 120+% NRR and 35–50% cost savings for broadcasters.</li>
<li>Amagi has been a key enabler for broadcasting for live-events (FIFA, NFL) while its content library attracts small/new OTT platforms. Only concern is whether it can tap larger media/OTT platforms?</li>
</ul>


Amagi's unified cloud-based media infrastructure serves to digitise traditional media content and enable monetisation. Its two-way platform supports not just the content-owners but also distributors globally with varied content access
By attracting both media companies and distributors, Amagi benefits from a content-driven flywheel effect, creating structural stickiness with 120+% NRR and 35–50% cost savings for broadcasters.
Amagi has been a key enabler for broadcasting for live-events (FIFA, NFL) while its content library attracts small/new OTT platforms. Only concern is whether it can tap larger media/OTT platforms?


Amagi Media Labs: Taking Media Companies to the Cloud Universe

<ul><li>nCino, a cloud-based software provider for the financial services industry, reported its third-quarter fiscal 2025 financial results, highlighting both achievements and challenges.</li><li>The company's revenue grew by 14% year-over year, reaching $138.8 million, with subscription revenue contributing $119.9 million, also a 14% increase.</li><li>Driving this growth was strong sales performance in the U.S. market, particularly within community and regional banks, as well as the enterprise segment.</li></ul>

nCino, a cloud-based software provider for the financial services industry, reported its third-quarter fiscal 2025 financial results, highlighting both achievements and challenges.The company's revenue grew by 14% year-over year, reaching $138.8 million, with subscription revenue contributing $119.9 million, also a 14% increase.Driving this growth was strong sales performance in the U.S. market, particularly within community and regional banks, as well as the enterprise segment.

nCino Inc – How M&A Activity Might Help Catalyze Their Future Growth! - Major Drivers

United States

nCino, Inc. provides cloud banking solutions. The Company offers solutions to improves employee efficiency while enhancing the customer experience for onboarding, loans, and deposits across all lines of business. nCino serves customers worldwide.

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nCino (NCNO US)

nCino’s Global Expansion Playbook: Platform Standardization, AI Agents, & Scalable Growth!

nCino, Inc., a company focused on providing cloud banking solutions to financial institutions, reported its financial results for the third...

Baptista Research

nCino’s Mortgage Mastery: The Surprising Bright Spot in a Tough Economy!

NCino's latest financial results for the second quarter of fiscal year 2026 present a nuanced picture of the company's performance and strategic...

Baptista Research

nCino Inc.: Is The Robust Consumer Lending Momentum Here To Stay?

In the first quarter of fiscal year 2026, nCino, Inc. reported financial results that provide insights into both its strengths and areas for...

Baptista Research

Amagi Media Labs: Taking Media Companies to the Cloud Universe

Amagi's media SaaS digitizes traditional content, supports global distributors. A Key player in live-event broadcasting and for small OTT...

Himanshu Dugar

nCino Inc – How M&A Activity Might Help Catalyze Their Future Growth! - Major Drivers

nCino, a cloud-based software provider for the financial services industry, reported its third-quarter fiscal 2025 financial results, highlighting...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

nCino’s Global Expansion Playbook: Platform Standardization, AI Agents, & Scalable Growth!

nCino, Inc., a company focused on providing cloud banking solutions to financial institutions, reported its financial results for the third...

Baptista Research

nCino’s Mortgage Mastery: The Surprising Bright Spot in a Tough Economy!

NCino's latest financial results for the second quarter of fiscal year 2026 present a nuanced picture of the company's performance and strategic...

Baptista Research

nCino Inc.: Is The Robust Consumer Lending Momentum Here To Stay?

In the first quarter of fiscal year 2026, nCino, Inc. reported financial results that provide insights into both its strengths and areas for...

Baptista Research

Amagi Media Labs: Taking Media Companies to the Cloud Universe

​Amagi's media SaaS digitizes traditional content, supports global distributors. A Key player in live-event broadcasting and for small OTT...

Himanshu Dugar

nCino Inc – How M&A Activity Might Help Catalyze Their Future Growth! - Major Drivers

nCino, a cloud-based software provider for the financial services industry, reported its third-quarter fiscal 2025 financial results, highlighting...

Baptista Research

Amagi's media SaaS digitizes traditional content, supports global distributors. A Key player in live-event broadcasting and for small OTT...