Category: Newsfeed
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Constellation Software 2Q26 Recap: AI Didn’t Hurt or Help
(Note: This is a Business Recap, which is shorter than our Business Updates. Members can download a PDF here) 2Q26 Update. Constellation Software reported 2Q26 and the stock fell 5% the next day. Revenues grew +17% y/y, but organic growth remained flat at 1%. Their maintenance & other recurring revenues…
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Coupang 2Q26 Recap: Data Scandal Lingers on Growth
(Members can access a PDF of this post here). 2Q26 Update. Coupang reported 2Q26 and the data leak continued to weigh on their growth as some customers have yet to return. Their Product Commerce revenues were +8% y/y on a constant currency basis (versus +5% y/y last quarter), but they…
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Perimeter 2Q26 Business Recap: Light Fire Safety Earnings, but Strong M&A Execution
(Members can download a PDF of this post here) 2Q26 Update. Perimeter Solutions reported 2Q26 earnings and the stock was down 15% the following day (but has since slightly rebounded). Net revenues were up +31%, but operating income (after adjusting out the Founder’s Advisory Fees) fell -11% y/y to $63mn.…
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Floor & Decor 2Q26 Business Update: Encouraging Same Store Sales Trends
(Speedwell Members click here for the full post or click here for a PDF version of this post). 2Q26 Update. Floor & Decor reported 2Q26 earnings, and the stock reacted positively, up +11% in the subsequent 2 days. Total net sales increased +3% y/y, but SSS was negative. However, from…
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Meta 2Q26 Business Update: 5 Call Options
(Speedwell Members click here for a longer version of this post or here for a PDF version of this post here) 2Q26 Business Update. Meta reported 2Q26 and the stock sold off -9% the following day. While they reported strong revenue growth of +27% (FXN), operating earnings were up only +9%…
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Constellation Software 1Q26 Update: AI Strategy
(Note: This is a Business Recap, which is shorter than our Business Updates. Members can download a PDF here) 1Q26 Update. Constellation Software reported 1Q26 and had their first earnings call in 8 years. Revenues grew +20%, but organic growth was only 2%. However, their maintenance & other recurring revenues…
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Adobe Deep Dive
Welcome to Speedwell Research’s Newsletter. We write about business and investing. Our paid research product can be found at SpeedwellResearch.com. You can learn more about us here. This is a new company report announcement. Members can access Speedwell’s Reports here. You can become a Speedwell Member here. By all financial…
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Coupang 1Q26 Business Recap: Data Leak Shows Member Strength
(Members can access a PDF of this post here). 1Q26 Update. Coupang reported 1Q26 and Product Commerce revenues were +5% y/y on constant currency. Gross profits were up less though at +2% y/y. Segment adjusted EBITDA margin was down 302bps y/y to 5%. This was the second quarter where the…
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Floor & Decor: 1Q26 Business Update
(Speedwell Members click here for the full post or click here for a PDF version of this post). 1Q26 Update. Floor & Decor reported 1Q26 and had yet another quarter of rough results, which can largely be attributed to poor macro. SSS (same store sales) were -3.7% for 1Q and…
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Meta 1Q26 Business Update: The Big Personalzied AI Bet
(Speedwell Members click here for a longer version of this post or here for a PDF version of this post here) 1Q26 Update. Meta reported a very strong quarter with revenue growth of 33% y/y or 29% y/y on a constant currency basis. This was driven by ad impression growth of…