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>Peloton Interactive is trying to move beyond its legacy identity as a connected fitness hardware company and reposition itself as a broader connected wellness platform.</li><li>Its most recent earnings call showed early evidence of that shift, with Q3 FY2026 revenue of $631 million, positive year-over-year revenue growth, adjusted EBITDA of $126 million, free cash flow of $151 million, and net debt down 70% year-over-year.</li><li>At the same time, management highlighted 48% year-over-year growth in Pilates engagement, over 400,000 people taking HiLit classes, new Pilates instructors, and upcoming hardware and features expected in the fall.</li></ul>

Peloton Interactive is trying to move beyond its legacy identity as a connected fitness hardware company and reposition itself as a broader connected wellness platform.Its most recent earnings call showed early evidence of that shift, with Q3 FY2026 revenue of $631 million, positive year-over-year revenue growth, adjusted EBITDA of $126 million, free cash flow of $151 million, and net debt down 70% year-over-year.At the same time, management highlighted 48% year-over-year growth in Pilates engagement, over 400,000 people taking HiLit classes, new Pilates instructors, and upcoming hardware and features expected in the fall.

Peloton Acquisition Of Skōp Could Be Its Next Growth Hack!