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

Zoom Video Communications Inc / Equity Bottom-Up

<ul><li>Zoom Video Communications’ second quarter of fiscal year 2027 showed continued progress with total revenue increasing 4.9% year over year to $1.28 billion, slightly exceeding guidance.</li><li>Enterprise revenue grew by 7.8%, marking the strongest rate of growth in three years, and now represents 62% of total revenue.</li><li>The Online segment’s average monthly churn remained steady at 2.9%, while growth in international markets was modest, with Americas up 6%, EMEA 2%, and APAC 4%.</li></ul>

Zoom Video Communications’ second quarter of fiscal year 2027 showed continued progress with total revenue increasing 4.9% year over year to $1.28 billion, slightly exceeding guidance.Enterprise revenue grew by 7.8%, marking the strongest rate of growth in three years, and now represents 62% of total revenue.The Online segment’s average monthly churn remained steady at 2.9%, while growth in international markets was modest, with Americas up 6%, EMEA 2%, and APAC 4%.

Zoom Communications Is Not Just Video Anymore — AI Usage Jumps 125%!

TMT & Consumer Independent Equity Research Analyst, Obex Capital Research

Aaron Gabin

TMT & Consumer Independent Equity Research Analyst

TMT & Consumer Independent Equity Research

Obex Capital Research

“Obex” is Latin for Barriers to Entry. Obex Capital Management’s investment philosophy is driven by an intense focus on which business model’s Barriers to Entry are able to withstand the ever increasing competitive disruption in the TMT and Consumer Sectors.

As one  analyst put it on the call, Zoom “just delivered one of, if not, the greatest all-time quarter in enterprise software history.”It was pretty amazing. The question is...how much are we paying for a high churn, potentially transitory customer base?<div class="content-highlight">Obex’s fundamental research process is focused on secular change in the TMT and Consumer sectors. We seek to differentiate between fundamental business analysis and security analysis. Before deciding if a security’s pricing and positioning merit a long or short position, we analyze the four pillars of business fundamentals (Secular Factors, TAM, Competitive Advantage, Business Model) in order to determine if this is a “good” or “not so good” opportunity.</div>

As one  analyst put it on the call, Zoom “just delivered one of, if not, the greatest all-time quarter in enterprise software history.”It was pretty amazing. The question is...how much are we paying for a high churn, potentially transitory customer base?Obex’s fundamental research process is focused on secular change in the TMT and Consumer sectors. We seek to differentiate between fundamental business analysis and security analysis. Before deciding if a security’s pricing and positioning merit a long or short position, we analyze the four pillars of business fundamentals (Secular Factors, TAM, Competitive Advantage, Business Model) in order to determine if this is a “good” or “not so good” opportunity.

<ul><li>Zoom Communications is moving deeper into AI-powered enterprise software with its planned acquisition of Common Room, an AI startup focused on helping sales teams identify buyers, research prospects, and personalize outreach using customer and sales data.</li><li>Announced on July 2, 2026, the deal is expected to close in the coming weeks, with financial terms not disclosed.</li><li>The move comes shortly after Zoom reported a stronger Q1 FY2027 performance, with revenue rising 5.5% year-over-year to $1.24 billion and enterprise revenue growing 7.2%.</li></ul>

Zoom Communications is moving deeper into AI-powered enterprise software with its planned acquisition of Common Room, an AI startup focused on helping sales teams identify buyers, research prospects, and personalize outreach using customer and sales data.Announced on July 2, 2026, the deal is expected to close in the coming weeks, with financial terms not disclosed.The move comes shortly after Zoom reported a stronger Q1 FY2027 performance, with revenue rising 5.5% year-over-year to $1.24 billion and enterprise revenue growing 7.2%.

Zoom’s Latest Acquisition Analysis: How Common Room Could Reshape Sales AI!

<ul><li>Zoom Video Communications reported first-quarter fiscal year 2027 results showing a 5.5% year-over-year revenue increase to $1.24 billion, exceeding the high end of guidance and marking one of the company’s stronger recent growth rates.</li><li>The enterprise segment, representing 61% of total revenue, grew 7.2% year over year.</li><li>Key drivers included continued expansion in multi-product platform deals, AI monetization initiatives, and product diversification.</li></ul>

Zoom Video Communications reported first-quarter fiscal year 2027 results showing a 5.5% year-over-year revenue increase to $1.24 billion, exceeding the high end of guidance and marking one of the company’s stronger recent growth rates.The enterprise segment, representing 61% of total revenue, grew 7.2% year over year.Key drivers included continued expansion in multi-product platform deals, AI monetization initiatives, and product diversification.

Zoom Video Communications’ Hidden Enterprise Engine: Workplace, Phone & AI Scale Up!

Smartkarma AI Primers, Smartkarma

αSK Primers

Smartkarma AI Primers

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<ul>
 <li>Zoom is strategically pivoting from a single-application video conferencing leader to an integrated, AI-powered workplace platform, encompassing services like Zoom Phone, Contact Center, and AI Companion to drive future growth.</li>
 <li>While facing intense competition from bundled services offered by tech giants like Microsoft and Google, Zoom maintains a strong brand reputation for ease of use and reliability, and is focusing on the enterprise segment to secure higher-value, long-term revenue.</li>
 <li>Slowing revenue growth post-pandemic and a declining online user base are key challenges, but the company's strong profitability, significant cash reserves, and focus on innovation in high-growth adjacent markets provide a solid foundation for its strategic evolution.</li>
</ul>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.


  Zoom is strategically pivoting from a single-application video conferencing leader to an integrated, AI-powered workplace platform, encompassing services like Zoom Phone, Contact Center, and AI Companion to drive future growth.
  While facing intense competition from bundled services offered by tech giants like Microsoft and Google, Zoom maintains a strong brand reputation for ease of use and reliability, and is focusing on the enterprise segment to secure higher-value, long-term revenue.
  Slowing revenue growth post-pandemic and a declining online user base are key challenges, but the company's strong profitability, significant cash reserves, and focus on innovation in high-growth adjacent markets provide a solid foundation for its strategic evolution.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Zoom Video Communications Inc (ZM US) - Mar 2026

United States

Zoom Video Communications, Inc. develops a people-centric cloud service that transforms real-time collaboration experience. The Company offers unified meeting experience, a cloud service that provides a 3-in-1 meeting platform with HD video conferencing, mobility, and web meetings. Zoom Video Communications serves customers worldwide.

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Zoom Video Communications Inc (ZM US)

Zoom Communications Is Not Just Video Anymore — AI Usage Jumps 125%!

Zoom Video Communications’ second quarter of fiscal year 2027 showed continued progress with total revenue increasing 4.9% year over year to $1.28...

Baptista Research

Zoom 1Q21: Can You Top This?

As one analyst put it on the call, Zoom “just delivered one of, if not, the greatest all-time quarter in enterprise software history.”It was...

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Zoom’s Latest Acquisition Analysis: How Common Room Could Reshape Sales AI!

Zoom Communications is moving deeper into AI-powered enterprise software with its planned acquisition of Common Room, an AI startup focused on...

Baptista Research

Zoom Video Communications’ Hidden Enterprise Engine: Workplace, Phone & AI Scale Up!

Zoom Video Communications reported first-quarter fiscal year 2027 results showing a 5.5% year-over-year revenue increase to $1.24 billion,...

Baptista Research

Primer: Zoom Video Communications Inc (ZM US) - Mar 2026

Zoom is strategically pivoting from a single-application video conferencing leader to an integrated, AI-powered workplace platform, encompassing...

αSK Primers

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