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>Appian Corporation's financial results for the fourth quarter and full year of 2025 highlight both positive growth indicators and some underlying challenges.</li><li>Beginning with the positives, Appian reported robust revenue growth across different sectors: cloud subscriptions revenue increased by 18% in Q4, totalling $117 million, while overall revenue grew by 22% to $202.9 million.</li><li>The company also demonstrated a notable adjusted EBITDA of $19.7 million for the quarter, further reflecting an increase in operational efficiency, particularly significant given that just two years prior, the company faced an adjusted EBITDA margin of negative 8%.</li></ul>

Appian Corporation's financial results for the fourth quarter and full year of 2025 highlight both positive growth indicators and some underlying challenges.Beginning with the positives, Appian reported robust revenue growth across different sectors: cloud subscriptions revenue increased by 18% in Q4, totalling $117 million, while overall revenue grew by 22% to $202.9 million.The company also demonstrated a notable adjusted EBITDA of $19.7 million for the quarter, further reflecting an increase in operational efficiency, particularly significant given that just two years prior, the company faced an adjusted EBITDA margin of negative 8%.

Appian Corporation は政府近代化の頼りになるパートナーになりつつあります - 連邦政府の橋頭保が重要な理由!