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>Peloton Interactive, Inc. reported fourth-quarter and fiscal year 2026 results showing progress across operational and strategic priorities.</li><li>Led by CEO Peter Stern and CFO Siddharth Thacker, the company continues shifting from connected fitness toward a broader connected wellness ecosystem targeting an approximately $7 trillion global addressable market.</li><li>During fiscal 2026, Peloton launched the Cross-Training Series and expanded Peloton IQ artificial intelligence features, which more than 50% of monthly active users engaged with in Q4.</li></ul>

Peloton Interactive, Inc. reported fourth-quarter and fiscal year 2026 results showing progress across operational and strategic priorities.Led by CEO Peter Stern and CFO Siddharth Thacker, the company continues shifting from connected fitness toward a broader connected wellness ecosystem targeting an approximately $7 trillion global addressable market.During fiscal 2026, Peloton launched the Cross-Training Series and expanded Peloton IQ artificial intelligence features, which more than 50% of monthly active users engaged with in Q4.

Peloton Interactive’s $63 Million Milestone — Its First Full Year Of Net Profit!

Independent in-depth research from Finimize, Finimize

Finimize Research

Independent in-depth research from Finimize

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Thematic (Sector/Industry)

<ul>
<li>The US economy’s resilience hasn’t come from the many – it’s come from the top 10% as the “wealth effect” from rising asset prices has boosted spending.</li>
<li>But it works in reverse too.  Since the richest make up nearly half of America’s consumer spending, that could lead to a serious economic fallout.</li>
<li>It’s worth considering protecting your portfolio. I’ve pulled together one list of companies that should do well and another that could suffer from the change in climate.</li>
</ul>


The US economy’s resilience hasn’t come from the many – it’s come from the top 10% as the “wealth effect” from rising asset prices has boosted spending.
But it works in reverse too.  Since the richest make up nearly half of America’s consumer spending, that could lead to a serious economic fallout.
It’s worth considering protecting your portfolio. I’ve pulled together one list of companies that should do well and another that could suffer from the change in climate.


A Defensive Portfolio Prepared For The Wealth Effect’s Reversal

<ul><li>Peloton Interactive is trying to move beyond its legacy identity as a connected fitness hardware company and reposition itself as a broader connected wellness platform.</li><li>Its most recent earnings call showed early evidence of that shift, with Q3 FY2026 revenue of $631 million, positive year-over-year revenue growth, adjusted EBITDA of $126 million, free cash flow of $151 million, and net debt down 70% year-over-year.</li><li>At the same time, management highlighted 48% year-over-year growth in Pilates engagement, over 400,000 people taking HiLit classes, new Pilates instructors, and upcoming hardware and features expected in the fall.</li></ul>

Peloton Interactive is trying to move beyond its legacy identity as a connected fitness hardware company and reposition itself as a broader connected wellness platform.Its most recent earnings call showed early evidence of that shift, with Q3 FY2026 revenue of $631 million, positive year-over-year revenue growth, adjusted EBITDA of $126 million, free cash flow of $151 million, and net debt down 70% year-over-year.At the same time, management highlighted 48% year-over-year growth in Pilates engagement, over 400,000 people taking HiLit classes, new Pilates instructors, and upcoming hardware and features expected in the fall.

Peloton Acquisition Of Skōp Could Be Its Next Growth Hack!

<ul><li>Peloton Interactive has found a new way to make its fitness content travel far beyond its own bikes, treads, rows, and app.</li><li>The company announced a global partnership with Spotify that will place Peloton’s fitness and wellness content inside Spotify Premium’s new fitness category, giving it access to hundreds of millions of Premium users across most countries where Spotify operates.</li><li>The market reacted positively, with Peloton shares rising after the announcement, even as the company continues to face declining sales since 2022 and pressure from another expected annual subscriber drop.</li></ul>

Peloton Interactive has found a new way to make its fitness content travel far beyond its own bikes, treads, rows, and app.The company announced a global partnership with Spotify that will place Peloton’s fitness and wellness content inside Spotify Premium’s new fitness category, giving it access to hundreds of millions of Premium users across most countries where Spotify operates.The market reacted positively, with Peloton shares rising after the announcement, even as the company continues to face declining sales since 2022 and pressure from another expected annual subscriber drop.

Peloton Teams Up With Spotify—Here’s Why The Stock Jumped!

<ul><li>Peloton Interactive, Inc. reported its second quarter fiscal year 2026 results highlighting progress in its strategic transformation from a Connected Fitness company to a broader Connected Wellness company.</li><li>The company aims to capitalize on its platform, equipment, and brand amid the expanding global wellness economy, estimated at $7 trillion.</li><li>Key initiatives included launches of the Peloton Cross Training Series hardware refresh, Peloton IQ personalized software powered by AI, and expanded content offerings in strength, yoga, and Pilates, supported by new instructors.</li></ul>

Peloton Interactive, Inc. reported its second quarter fiscal year 2026 results highlighting progress in its strategic transformation from a Connected Fitness company to a broader Connected Wellness company.The company aims to capitalize on its platform, equipment, and brand amid the expanding global wellness economy, estimated at $7 trillion.Key initiatives included launches of the Peloton Cross Training Series hardware refresh, Peloton IQ personalized software powered by AI, and expanded content offerings in strength, yoga, and Pilates, supported by new instructors.

Peloton: Hardware Innovation Meets Subscription Monetization—A Scalable Growth Strategy?

United States

Peloton Interactive, Inc. provides sporting apparels and products. The Company offers tops, bras, bottoms, watch bands, hats, bags, and workout bikes for indoor cycling products. Peloton Interactive serves customers worldwide.

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Peloton Interactive (PTON US)

Peloton Interactive’s $63 Million Milestone — Its First Full Year Of Net Profit!

Peloton Interactive, Inc. reported fourth-quarter and fiscal year 2026 results showing progress across operational and strategic priorities. Led...

Baptista Research

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The top 10% account for around 50% of consumer spending in the US. This insight looks at the sectors and companies that could win and lose from the...

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Peloton Acquisition Of Skōp Could Be Its Next Growth Hack!

Peloton Interactive is trying to move beyond its legacy identity as a connected fitness hardware company and reposition itself as a broader...

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Peloton Teams Up With Spotify—Here’s Why The Stock Jumped!

Peloton Interactive has found a new way to make its fitness content travel far beyond its own bikes, treads, rows, and app. The company announced...

Baptista Research

Peloton: Hardware Innovation Meets Subscription Monetization—A Scalable Growth Strategy?

Peloton Interactive, Inc. reported its second quarter fiscal year 2026 results highlighting progress in its strategic transformation from a...

Baptista Research

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