Independent research on the U.S. markets, Baptista Research

Baptista Research

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.

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>GitLab demonstrated solid financial progress in fiscal year 2026, with annual recurring revenue (ARR) surpassing $1 billion and adjusted free cash flow increasing by over 80% to $220 million, alongside nearly seven percentage points of margin expansion year-over-year.</li><li>The company reported its highest net new ARR on both a yearly and quarterly basis, supported by customer growth and retention metrics that remained stable or improved, including a gross retention rate exceeding 90% and the lowest churn in four years.</li><li>Growth in the premium Ultimate product segment contributed significantly, representing 56% of ARR and accounting for nine of the top ten deals in the quarter.</li></ul>

GitLab demonstrated solid financial progress in fiscal year 2026, with annual recurring revenue (ARR) surpassing $1 billion and adjusted free cash flow increasing by over 80% to $220 million, alongside nearly seven percentage points of margin expansion year-over-year.The company reported its highest net new ARR on both a yearly and quarterly basis, supported by customer growth and retention metrics that remained stable or improved, including a gross retention rate exceeding 90% and the lowest churn in four years.Growth in the premium Ultimate product segment contributed significantly, representing 56% of ARR and accounting for nine of the top ten deals in the quarter.

GitLab Is Reinventing Developer Workflows with AI — But Can It Outpace Fierce Competition?

Gitlab

GitLab Is Reinventing Developer Workflows with AI — But Can It Outpace Fierce Competition?