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>Wayfair's latest quarterly performance provides insight into both the company's strategic achievements and the broader challenges it faces in a fluctuating market environment.</li><li>During Q3 2025, Wayfair experienced a notable 9% year-over-year revenue growth excluding its exit from Germany, marking acceleration despite a sluggish housing market.</li><li>This growth was accompanied by a significant surge in adjusted EBITDA, rising by over 70% year-over-year, with an adjusted EBITDA margin reaching 6.7%, the highest for Wayfair outside of the pandemic period.</li></ul>

Wayfair's latest quarterly performance provides insight into both the company's strategic achievements and the broader challenges it faces in a fluctuating market environment.During Q3 2025, Wayfair experienced a notable 9% year-over-year revenue growth excluding its exit from Germany, marking acceleration despite a sluggish housing market.This growth was accompanied by a significant surge in adjusted EBITDA, rising by over 70% year-over-year, with an adjusted EBITDA margin reaching 6.7%, the highest for Wayfair outside of the pandemic period.

Wayfair: What You Didn’t Know About Its Multichannel Fulfillment Takeover!- Major Drivers

<ul><li>Wayfair’s second quarter of 2025 demonstrates notable financial performance marked by a focus on profitability and strategic growth initiatives.</li><li>The company posted a year-over-year revenue growth of 6% excluding impact from its exit from the German market, described as the highest growth since early 2021.</li><li>A milestone was achieved in adjusted EBITDA margin, which stood at over 6%, indicating significant operational efficiency.</li></ul>

Wayfair’s second quarter of 2025 demonstrates notable financial performance marked by a focus on profitability and strategic growth initiatives.The company posted a year-over-year revenue growth of 6% excluding impact from its exit from the German market, described as the highest growth since early 2021.A milestone was achieved in adjusted EBITDA margin, which stood at over 6%, indicating significant operational efficiency.

Wayfair’s Tech Overhaul & New Programs—Is This The Blueprint For Its Future In Retail?

<ul><li>Wayfair, in its Q1 2025 earnings, outlined a mixed performance in the face of ongoing market challenges, specifically within the home furnishing sector.</li><li>Positive strides were noted, such as a commendable 1% year-over year growth excluding the impact of the discontinued German operations, with the U.S. business demonstrating resilience by posting a 1.6% increase.</li><li>This growth comes amidst a generally contracting market, marking Wayfair's ability to outperform its peers and gain market share.</li></ul>

Wayfair, in its Q1 2025 earnings, outlined a mixed performance in the face of ongoing market challenges, specifically within the home furnishing sector.Positive strides were noted, such as a commendable 1% year-over year growth excluding the impact of the discontinued German operations, with the U.S. business demonstrating resilience by posting a 1.6% increase.This growth comes amidst a generally contracting market, marking Wayfair's ability to outperform its peers and gain market share.

Wayfair’s Global Sourcing Masterstroke—How 100+ Countries Can Help Fuel Its Margin Growth!

<ul><li>Wayfair's fourth-quarter 2024 results reflect a mixed financial and operational landscape, capturing both opportunities and challenges in the current market environment.</li><li>The company's net revenue witnessed a slight increase, with the U.S. segment showing positive year-over-year growth at 1.1%.</li><li>This growth was notably driven by improved holiday performance, implying effective seasonal management and merchandising strategies.</li></ul>

Wayfair's fourth-quarter 2024 results reflect a mixed financial and operational landscape, capturing both opportunities and challenges in the current market environment.The company's net revenue witnessed a slight increase, with the U.S. segment showing positive year-over-year growth at 1.1%.This growth was notably driven by improved holiday performance, implying effective seasonal management and merchandising strategies.

Wayfair Inc.: An Insight Into The 5 Biggest Challenges In Its Path In 2025!

<ul><li>Wayfair, the prominent online furniture retailer, has recently made headlines with its decision to exit the German market and restructure its global operations by cutting approximately 730 jobs.</li><li>The move, aimed at reallocating resources towards more promising growth areas such as physical retail and key international markets, marks a significant strategic pivot amid a sluggish home furnishings sector.</li><li>The German market, which contributed only a low single-digit percentage to the company’s overall revenue, has long posed challenges due to weak macroeconomic conditions and limited brand awareness.</li></ul>

Wayfair, the prominent online furniture retailer, has recently made headlines with its decision to exit the German market and restructure its global operations by cutting approximately 730 jobs.The move, aimed at reallocating resources towards more promising growth areas such as physical retail and key international markets, marks a significant strategic pivot amid a sluggish home furnishings sector.The German market, which contributed only a low single-digit percentage to the company’s overall revenue, has long posed challenges due to weak macroeconomic conditions and limited brand awareness.

Wayfair’s Shocking Pivot: Exit Germany and a Cautionary Road Ahead for 2025!

United States

Wayfair Inc. retails household goods online. The Company offers bedroom, living room, kitchen and dining, home entertainment, home office, game room and bar, patio, hallway and entryway, and bathroom furniture. Wayfair offers products and services in the United States.

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Wayfair Inc Class A (W US)

Wayfair: What You Didn’t Know About Its Multichannel Fulfillment Takeover!- Major Drivers

Wayfair's latest quarterly performance provides insight into both the company's strategic achievements and the broader challenges it faces in a...

Baptista Research

Wayfair’s Tech Overhaul & New Programs—Is This The Blueprint For Its Future In Retail?

Wayfair’s second quarter of 2025 demonstrates notable financial performance marked by a focus on profitability and strategic growth...

Baptista Research

Wayfair’s Global Sourcing Masterstroke—How 100+ Countries Can Help Fuel Its Margin Growth!

Wayfair, in its Q1 2025 earnings, outlined a mixed performance in the face of ongoing market challenges, specifically within the home furnishing...

Baptista Research

Wayfair Inc.: An Insight Into The 5 Biggest Challenges In Its Path In 2025!

Wayfair's fourth-quarter 2024 results reflect a mixed financial and operational landscape, capturing both opportunities and challenges in the...

Baptista Research

Wayfair’s Shocking Pivot: Exit Germany and a Cautionary Road Ahead for 2025!

Wayfair, the prominent online furniture retailer, has recently made headlines with its decision to exit the German market and restructure its...

Baptista Research

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