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 Capital Markets

<ul><li>Yext has had a tumultuous journey over the past few months and its market capitalization has been destroyed to the extent that it is in the small cap category now.</li><li>The company had a decent quarter with revenue increasing by 7% year over year to $98.8 million beating Wall Street expectations.</li><li>In this report, we have carried out a fundamental analysis of the historical financial statements of the company.</li></ul>

Yext has had a tumultuous journey over the past few months and its market capitalization has been destroyed to the extent that it is in the small cap category now.The company had a decent quarter with revenue increasing by 7% year over year to $98.8 million beating Wall Street expectations.In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

Yext Inc.: The Yext Answers Offering & Other Key Drivers

<ul><li>Over the past few years, Yext has been going through many ups and downs and it had a particularly tough fiscal year with its CEO and CFO stepping down.</li><li>The company’s performance has been disappointing and the 4% forecast for the coming fiscal further killed the market enthusiasm.</li><li>It has launched quality products like Answers in recent years but the company’s revenue growth has slowed tremendously.</li></ul>

Over the past few years, Yext has been going through many ups and downs and it had a particularly tough fiscal year with its CEO and CFO stepping down.The company’s performance has been disappointing and the 4% forecast for the coming fiscal further killed the market enthusiasm.It has launched quality products like Answers in recent years but the company’s revenue growth has slowed tremendously.

<ul><li>Yext has gone through its fair share of ups and downs over the past few quarters and it has become evident that the company’s fate lies in the hands of its core Yext Answers offering.</li><li>Their revenue increased by $99.5 million during the quarter, demonstrating strong execution against its growth plan, including renewals.</li><li>In the third quarter, Yext launched AI search industry resolutions in FinServ and healthcare, as well as announced a strategic partnership with Acquia.</li></ul>

Yext has gone through its fair share of ups and downs over the past few quarters and it has become evident that the company’s fate lies in the hands of its core Yext Answers offering.Their revenue increased by $99.5 million during the quarter, demonstrating strong execution against its growth plan, including renewals.In the third quarter, Yext launched AI search industry resolutions in FinServ and healthcare, as well as announced a strategic partnership with Acquia.

Yext Inc: Can Yext Answers Save The Day? (12/2021)

<ul><li>Yext delivered a surprisingly good quarterly result with $98 million in revenues driven largely by new customers and upsells.</li><li>A major positive takeaway from the result was that Yext’s unearned revenue increased 12% year-over-year to $165 million.</li><li>There was a visible increase in the operating margin for the last quarter and operating expenses were down to 81% of revenues from 84% in the year-ago quarter.</li></ul>

Yext delivered a surprisingly good quarterly result with $98 million in revenues driven largely by new customers and upsells.A major positive takeaway from the result was that Yext’s unearned revenue increased 12% year-over-year to $165 million.There was a visible increase in the operating margin for the last quarter and operating expenses were down to 81% of revenues from 84% in the year-ago quarter.

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<p><a href="https://www.smartkarma.com/entities/bairong" target="_blank" data-smartkarma-citation="entities:31486:1" rel="noopener">Bairong (6608 HK)</a> is a leading independent AI-powered technology platform in China serving the financial services industry. It is the largest independent financial big data analytics solutions provider in China with a 9.0% revenue market share in 2020, according to Frost &amp; Sullivan.</p><p>Bairong was listed on the HKEx on 31 March 2021 and raised net proceeds of HK$3,759.0 million at HK$31.80 per share. The shares currently trade 62% below their IPO price. Bairong priced its IPO at the market peak and the shares have collapsed in part due to China’s regulatory reset. </p><p><a href="https://www.smartkarma.com/entities/beijing-kuaishou-technology-co-ltd" target="_blank" data-smartkarma-citation="entities:29725:1" rel="noopener">Kuaishou Technology (1024 HK)</a> fell 15% on 5 August after a lockup expiry, as early backers headed for the exit amid fears of China’s widening online crackdown. The ongoing regulatory crackdown has alerted investors to the risk of upcoming expiring lockups.  </p><div class="content-highlight"><p>Bairong’s pre-IPO investors’ lock-up period expires on 20 September. The cornerstones investors lock-up period expires on 30 September. In this note, we look at the returns of the pre-IPO investors and potential share sales post-lockup expiry.</p></div>

Bairong (6608 HK) is a leading independent AI-powered technology platform in China serving the financial services industry. It is the largest independent financial big data analytics solutions provider in China with a 9.0% revenue market share in 2020, according to Frost &amp; Sullivan.Bairong was listed on the HKEx on 31 March 2021 and raised net proceeds of HK$3,759.0 million at HK$31.80 per share. The shares currently trade 62% below their IPO price. Bairong priced its IPO at the market peak and the shares have collapsed in part due to China’s regulatory reset. Kuaishou Technology (1024 HK) fell 15% on 5 August after a lockup expiry, as early backers headed for the exit amid fears of China’s widening online crackdown. The ongoing regulatory crackdown has alerted investors to the risk of upcoming expiring lockups.  Bairong’s pre-IPO investors’ lock-up period expires on 20 September. The cornerstones investors lock-up period expires on 30 September. In this note, we look at the returns of the pre-IPO investors and potential share sales post-lockup expiry.

United States

Yext, Inc. provides digital media technology services. The Company offers advertising, monetization, phone, and directory services including business listings on search sites and real-time reputation management. Yext serves customers worldwide.

Yext Inc (YEXT US)

Yext Inc.: The Yext Answers Offering & Other Key Drivers

Yext has had a tumultuous journey over the past few months and its market capitalization has been destroyed to the extent that it is in the small...

Baptista Research

Yext Inc.: Investment Thesis

Over the past few years, Yext has been going through many ups and downs and it had a particularly tough fiscal year with its CEO and CFO stepping...

Baptista Research

Yext Inc: Can Yext Answers Save The Day? (12/2021)

Yext has gone through its fair share of ups and downs over the past few quarters and it has become evident that the company’s fate lies in the...

Baptista Research

Yext Inc. - Investment Thesis

Yext delivered a surprisingly good quarterly result with $98 million in revenues driven largely by new customers and upsells. A major positive...

Baptista Research

Bairong: Upcoming Lock-Up Expiry

Bairong’s pre-IPO investors’ lock-up period expires on 20 September. In this note, we look at the returns of the pre-IPO investors and potential...

Arun George