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>IFA reported Q2 financials that were mixed compared to our estimates, with revenue of $9.6M (+65% YoY), compared to our estimate of $8.1M.</li>
<li>Intelligent Fabrics revenue grew 94% YoY to $6.3M, and U.S. revenue grew 121% YoY to $6.8M, driven by scrubs and footwear programs at IFTNA and the launch of the Nudish brand at major U.S. retailers.</li>
<li>Adjusted EBITDA came in at ($0.2M), vs. our $0.5M estimate, representing a (3%) margin compared to (5%) in Q2/25.</li>
</ul>


IFA reported Q2 financials that were mixed compared to our estimates, with revenue of $9.6M (+65% YoY), compared to our estimate of $8.1M.
Intelligent Fabrics revenue grew 94% YoY to $6.3M, and U.S. revenue grew 121% YoY to $6.8M, driven by scrubs and footwear programs at IFTNA and the launch of the Nudish brand at major U.S. retailers.
Adjusted EBITDA came in at ($0.2M), vs. our $0.5M estimate, representing a (3%) margin compared to (5%) in Q2/25.


IFA: Great Results Given Seasonally Weaker Quarter; Revenue Up 65% YoY

iFabric

IFA: Great Results Given Seasonally Weaker Quarter; Revenue Up 65% YoY