Research from Atrium Research, Atrium Research Corporation

Atrium Research

Atrium Research provides institutional quality issuer paid research on public equities in North America. Our investment philosophy takes a 3-5 year view on equities currently being overlooked by the market. Our research process emphasizes understanding the key performance metrics for each specific company, trustworthy management teams, unit economics, and an in-depth valuation analysis.

Our research product includes in-depth initiation reports, research notes, thematic research pieces, and company fact sheets.

Research from Atrium Research

Atrium Research Corporation

Atrium Research provides institutional quality issuer paid research on public equities in North America. Our investment philosophy takes a 3-5 year view on equities currently being overlooked by the market. Our research process emphasizes understanding the key performance metrics for each specific company, trustworthy management teams, unit economics, and an in-depth valuation analysis. 

Our research product includes in-depth initiation reports, research notes, thematic research pieces, and company fact sheets.

Equity Bottom-Up

<ul>
<li>CEA has recently acquired Fat Panda, a leading Canadian vape retailer, supported by a vertically integrated manufacturing and e-commerce presence.</li>
<li>Fat Panda has posted consistent growth over the last five years, growing revenue at a 38% CAGR and Adj. EBITDA at a 71% CAGR.</li>
<li>CEA paid $12.6M for the acquisition, equating to 2.1x Adj. EBITDA.</li>
</ul>


CEA has recently acquired Fat Panda, a leading Canadian vape retailer, supported by a vertically integrated manufacturing and e-commerce presence.
Fat Panda has posted consistent growth over the last five years, growing revenue at a 38% CAGR and Adj. EBITDA at a 71% CAGR.
CEA paid $12.6M for the acquisition, equating to 2.1x Adj. EBITDA.


CEA Industries – Undervalued Opportunity in the High-Growth Vape Sector