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>YAY reported Q3/26 sales of $3.1M (+12% YoY) and gross margin of 11%, missing our estimates of $3.3M and 20%, respectively.</li>
<li>YAY signed an exclusivity agreement with Commercial Bakeries Corp. to act as the sole supplier of maple cream cookies in the Canadian travel and tourism channel.</li>
<li>We initiated coverage on YAY in March and published a management interview with CEO Tom Zaffis and Chairman David Beutel.</li>
</ul>


YAY reported Q3/26 sales of $3.1M (+12% YoY) and gross margin of 11%, missing our estimates of $3.3M and 20%, respectively.
YAY signed an exclusivity agreement with Commercial Bakeries Corp. to act as the sole supplier of maple cream cookies in the Canadian travel and tourism channel.
We initiated coverage on YAY in March and published a management interview with CEO Tom Zaffis and Chairman David Beutel.


YAY: Soft Q3 Financials, Growth Thesis Still Intact

THS Maple Holdings

YAY: Soft Q3 Financials, Growth Thesis Still Intact