Category: Newsfeed
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AppFolio 2Q25 Business Update: Successfully Upselling
(Speedwell Members please click here for an extended version of this post and here for a PDF version ) 2Q25 Update. AppFolio reported 2Q25 and the stock is up +16%. (It is now up 55% since we published our original research report in May, so we will update the valuation…
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Floor & Decor 2Q25 Business Update: Taking Share
(Speedwell Members click here for an extended version of this post and for a PDF click here) 2Q25 Update. FND reported 2Q25 and the stock was up 3% after hours. Net revenues increased +7% y/y to $1.13bn with comparable sales +0.4%. This was the first time they posted same store…
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APG 2Q25 Business Update: Reacceleration & Execution
(If you are a Speedwell Member click here for the member’s version of this post or here for the PDF). Business Summary. Since APG is one of the newer companies added to our coverage, we wanted to give readers a quick summary of their business as a reminder. If you…
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Meta 2Q25 Business Update: AI Everywhere
(Speedwell Members please click here for the full post or here for the PDF). 2Q25 Earnings Update. Meta reported a very strong 2Q25 and the stock popped +10% after hours. Revenue reaccelerated +22% y/y, up 600bps from last quarter’s +16%. Ad impressions grew +11% y/y, mainly driven by Asia Pacific.…
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CoStar 2Q25 Business Recap: Revenues Reaccelerated
2Q25 Business Recap. Revenue growth accelerated +15% y/y, up 300bps from last quarter. Net new bookings hit a record $93mn (+65% q/q), driven by broad strength across their segments. This marks the 57th consecutive quarter of double digit growth. While their commercial real estate marketplace continue to remain profitable with…
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Evolution 2Q25 Business Update: “I Am Not Satisfied”
(Speedwell Members can access a full version of this post here and a PDF here) 2Q25 Update. Looking at this quarter’s growth of +3.1% y/y versus last quarter’s +3.9% y/y, it may not seem like much to celebrate. However, as a reminder, last quarter was the first quarter they ever…
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RH: 1Q25 Business Recap
1Q25 Update. RH reported 1Q25 and revenues were +12% y/y, a +200bps q/q acceleration. Though operating margins compressed to just 6.9%, down from 7.5% in 1Q24. For full year 2025 they are still guiding to 10 to 13% growth, with adjusted operating margins of 14 to 15%. 2025 free cash…
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Coupang 1Q25 Business Update: Strong Core Growth and Gaining Traction in Taiwan
(Speedwell Members click here for a members version of this post here or download a PDF of it here) 1Q25 Financials. Net revenues were +11% or +21% y/y on a FX-neutral basis. Gross profit margins improved y/y +217bps to 29.3%. In total gross profits grew +20% y/y or +31% y/y…
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APi Group: 1Q25 Business Recap
We are rolling out a new post format. Most companies do not have much change quarter to quarter and so rather than make each update 2-3k words, as we have in the past, we will publish shorter updates when warranted. We will still do longer business updates for each company…
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Floor & Decor: 1Q25 Business Recap
We are rolling out a new post format. Most companies do not have much change quarter to quarter and so rather than make each update 2-3k words, as we have in the past, we will publish shorter updates when warranted. We will still do longer business updates for each company…