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>Sonos reported third-quarter fiscal 2026 revenue of $375 million, up 9% year over year and near the high end of guidance.</li><li>Growth was broad-based: Asia Pacific rose 27%, Europe, Middle East and Africa 17%, and the Americas 4%.</li><li>Constant-currency revenue increased 7%, accelerating from prior quarters.</li></ul>

Sonos reported third-quarter fiscal 2026 revenue of $375 million, up 9% year over year and near the high end of guidance.Growth was broad-based: Asia Pacific rose 27%, Europe, Middle East and Africa 17%, and the Americas 4%.Constant-currency revenue increased 7%, accelerating from prior quarters.

Sonos Inc. Launches Amp Multi — Can Professional Installation Drive the Next Phase?

Independent in-depth research from Finimize, Finimize

Finimize Research

Independent in-depth research from Finimize

Finimize

Finimize is the #1 information platform for modern investors. We empower people to become smarter investors with bitesize insights from world-class analysts. 1 million+ strong community, 250 partners.

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>Sonos Inc. reported its second quarter fiscal 2026 results demonstrating a continuation of the growth trajectory initiated earlier in the year.</li><li>The company achieved $282 million in revenue for Q2, marking an 8% increase year-over-year and positioning near the top end of its guidance.</li><li>This contributed to a 2% revenue growth during the first half of the fiscal year.</li></ul>

Sonos Inc. reported its second quarter fiscal 2026 results demonstrating a continuation of the growth trajectory initiated earlier in the year.The company achieved $282 million in revenue for Q2, marking an 8% increase year-over-year and positioning near the top end of its guidance.This contributed to a 2% revenue growth during the first half of the fiscal year.

Sonos’ First Positive Q2 EBITDA In Four Years Sparks A Profitability Debate!

<ul><li>Sonos Inc. closed fiscal 2025 with stronger profitability but mixed revenue trends, as the company continued its transformation toward a leaner and more strategically aligned organization.</li><li>Management highlighted a 13% year-over-year revenue increase in the fourth quarter to $288 million, driven by strong growth in home theater and emerging markets, offsetting broader softness earlier in the year.</li><li>For fiscal 2025, total revenue declined 5% to $1.44 billion, reflecting a transition year marked by pricing adjustments and selective cost optimization.</li></ul>

Sonos Inc. closed fiscal 2025 with stronger profitability but mixed revenue trends, as the company continued its transformation toward a leaner and more strategically aligned organization.Management highlighted a 13% year-over-year revenue increase in the fourth quarter to $288 million, driven by strong growth in home theater and emerging markets, offsetting broader softness earlier in the year.For fiscal 2025, total revenue declined 5% to $1.44 billion, reflecting a transition year marked by pricing adjustments and selective cost optimization.

Sonos Inc.: Four High-Impact Catalysts—Ecosystem, Households, Cost Discipline, & Global Expansion!

Equity Long-Short Analyst

Pyari Menon

<ul>
<li>We write about one stock each from the large, mid and small cap portfolios, briefly giving the reasons behind their the innovation scores and inclusion in the portfolio.  </li>
<li>The three companies are <a href="https://www.smartkarma.com/entities/johnson-johnson-831a1ab9-b291-4564-99b0-dc7f8d2b8175" target="_blank" data-smartkarma-citation="entities:26818:1" rel="noopener">Johnson &amp; Johnson (JNJ UN)</a> , <a href="https://www.smartkarma.com/entities/mondelez-international-inc" target="_blank" data-smartkarma-citation="entities:8111:1" rel="noopener">Mondelez International (MDLZ US)</a> and <a href="https://www.smartkarma.com/entities/qorvo-inc" target="_blank" data-smartkarma-citation="entities:11965:1" rel="noopener">Qorvo Inc (QRVO US), which have the highest weighting in each portfolio</a>
</li>
<li>For the week the large cap portfolio was up 1.2%, the midcap was up 1.4% and the small cap was up 0.9%, all in US$ terms.  </li>
</ul>


We write about one stock each from the large, mid and small cap portfolios, briefly giving the reasons behind their the innovation scores and inclusion in the portfolio.  
The three companies are Johnson &amp; Johnson (JNJ UN) , Mondelez International (MDLZ US) and Qorvo Inc (QRVO US), which have the highest weighting in each portfolio

For the week the large cap portfolio was up 1.2%, the midcap was up 1.4% and the small cap was up 0.9%, all in US$ terms.  


How the Portfolios Did for the First Week

United States

Sonos, Inc. designs, develops, and produces audio products. The Company offers charging cradles, music players, alternating current adapters, controllers, wireless speakers, and loudspeakers. Sonos serves customers worldwide.

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Sonos Inc (SONO US)

Sonos Inc. Launches Amp Multi — Can Professional Installation Drive the Next Phase?

Sonos reported third-quarter fiscal 2026 revenue of $375 million, up 9% year over year and near the high end of guidance. Growth was broad-based:...

Baptista Research

A Defensive Portfolio Prepared For The Wealth Effect’s Reversal

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...

Finimize Research

Sonos’ First Positive Q2 EBITDA In Four Years Sparks A Profitability Debate!

Sonos Inc. reported its second quarter fiscal 2026 results demonstrating a continuation of the growth trajectory initiated earlier in the...

Baptista Research

Sonos Inc.: Four High-Impact Catalysts—Ecosystem, Households, Cost Discipline, & Global Expansion!

Sonos Inc. closed fiscal 2025 with stronger profitability but mixed revenue trends, as the company continued its transformation toward a leaner...

Baptista Research

How the Portfolios Did for the First Week

We assess how the three portfolios did for the first week and discuss about one stock each from the large, mid and small cap portfolios, briefly...

Pyari Menon

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52-week Range

Market Cap (USDm)

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