Category: Newsfeed
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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…
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Evolution 1Q26 Business Update: No Timeline for Europe Headwinds
(Members can access the full post here and a PDF of this post here) 1Q26 Financials. Evolution reported 1Q26 and the stock was down -2%. Reported revenues were -1.5% y/y, but grew +6.8% in constant currency. They noted that Asia grew q/q for the second consecutive quarter as they made progress…
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RH 4Q25 Business Recap: 2030 is the New Goal Post
(Members can get a PDF of this post here). RH reported 4Q25 and I wanted to provide some thoughts. In contrast to past updates, I am toying with the idea of not summarizing the quarter and instead just moving to my opinion. (I just feel there are many sell-siders and…
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Coupang 4Q25 Business Recap: Data Leak Impact Shows Up
(Members can access a PDF of this post here). 4Q25 Earnings Update. Coupang Reported 4Q25, the first quarter that was impacted after the November data leak and the stock is up 5%. While there were rumors that they may have lost millions of customers and meaningful platform activity, the results…
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Perimeter 4Q25: Business Recap
(Members can download a PDF of this post here) 4Q25 Business Update. Perimeter Solutions reported 4Q and stock dropped 9%. While revenues were up 19%, operating income (adjusting out the Founder’s Advisory Fees were roughly flat). For the full year net sales increased 16% y/y with the Fire Safety Segment…
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Copart 2Q26 Business Recap: Volumes Contract (Again)
(If you are a Speedwell Member, click here to get the full version of this post or here to download a PDF). 2Q26 Update. Copart reported fiscal 2Q26 and the stock sold off -3% the next day, after recovering from being down -10%. The quarter was bad with revenues down…
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Evolution 4Q25 Business Update: The Slog Continues
(Speedwell Members can access a full version of this post here and a PDF of this post here) 4Q25 Update. Evolution reported 4Q earnings and the stock dropped -6%. Revenues shrunk -4% y/y, but grew q/q +1.4%. On a constant currency basis, revenues were +4.9%. Live revenues were -5%, marking…
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AppFolio 4Q25 Business Update: Revenue Reaccelerate with new AI-Features
(Members can find a fuller version of this post here and a PDF here). 4Q25 Update. AppFolio reported decent 4Q25 results and the stock was down -8% in next day trading. Revenues accelerated 100 bps to 22% y/y. This marked the 3rd consecutive quarter of acceleration after a soft 1Q. However,…