Category: Newsfeed
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Floor & Decor 3Q26 Business Update: Profitability Grows Despite Weak Sales
(Speedwell Members click here for a PDF version of this post). 3Q26 Update. Floor & Decor reported 3Q26 earnings, and the stock was down -8% the next day (but has since slightly rebounded). This is a stock that still trades very dependent on existing home sale improvements, which have had…
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Perimeter Group 3Q26: A Decentralized Mini-Conglomerate
(Members can download a PDF of this post here) 3Q26 Recap. Perimeter reported 3Q26 earnings and the stock was up +4% the following day and now are up about +7% YTD. Since 2025 though they shares have appreciated 137%. Net revenues were up +24% y/y to $390mn. Operating income (after…
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Axon 3Q26 Update: Revenue Breaks Below 30%, Runway Reaffirmed
(Speedwell Members click here for an extended version of this post or here for a PDF) 3Q26 Update. Axon announced 3Q26 results and the stock plummeted -18% as they cut full year guidance on softer 3Q revenue growth and the delay of 3 federal contracts. At $315 the stock is…
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AppLovin 3Q26 Business Update: No Notes
(Members can access a fuller version of this post here and a PDF here). 3Q26 Update. AppLovin reported 3Q26 and the stock was up a monstrous +31% on earnings. After a sell off earlier in the week, the stock has now rallied +55% this week. However, they still sit down…
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Coupang 3Q26 Recap: Margin at Trough, Recovery In-sight
(Members can access a PDF of this post here). 3Q26 Update. Coupang reported 3Q26 and in trading the day after announcement the stock was up +12%. Results were generally lackluster, but all the earnings call commentary suggested the business is trending in the right direction. If we had to attribute…
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CoStar 3Q26 Recap: Cost Decreases Cost of Growth
(Members can download a PDF of this post here) 3Q26 Business Recap. CoStar reported 3Q26 earnings and the stock dropped -14% the next day. Since our last update, the stock has fallen -70% over slowing growth and fears of disruption from AI (more on that later). Total revenues for the…
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Evolution 3Q26 Business Update: No Big News is Good News
(Members can access the full post here and a PDF of this post here) 3Q26 Update. Evolution reported 3Q26 and the stock was up +2%. The stock is now up 23% YTD (after getting cut in ~half from 2024). Reported revenues were up +3.7% y/y or +0.1% y/y in constant currency.…
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AppFolio 3Q26 Business Recap: AI Agents Support Growth
(This is a business recap, which is shorter than our updates. Check out previous 4Q25 AppFolio update here for more details. Members can download a PDF of this post here.) 3Q26 Update. AppFolio reported decent 3Q26 results. Revenues remained steady at 19% y/y, consistent with last quarter. Core Services revenue…
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Meta 3Q26 Business Update: Not Just an Ads Business?
(Speedwell Members click here for a PDF version of this post) 3Q26. Meta reported another stellar quarter with Family of App revenue growth up 26% y/y, driven by impression growth of 10% and ad price growth of 14%. Family of App Other Revenue (non-advertising) grew 59% y/y, which is largely…
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AppLovin Deep Dive
Welcome to Speedwell Research’s Newsletter. We write about business and investing. Our paid research product can be found at SpeedwellResearch.com. This is a new company report announcement. Members can access Speedwell’s Reports here. You can become a Speedwell Member here. Few industries have more failed businesses than ad tech. Even…