分组1 - Inseego reported quarterly earnings of $0.12 per share, exceeding the Zacks Consensus Estimate of $0.07 per share, and showing an increase from $0.04 per share a year ago, resulting in an earnings surprise of +71.43% [1] - The company achieved revenues of $48.4 million for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 2.54% and showing growth from $48.09 million year-over-year [2] - Inseego has surpassed consensus EPS estimates three times over the last four quarters, indicating a positive trend in earnings performance [2] 分组2 - The stock has underperformed the market, losing about 3.6% since the beginning of the year, while the S&P 500 has gained 0.5% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.01 on revenues of $41.5 million, and for the current fiscal year, it is $0.37 on revenues of $190.11 million [7] - The Zacks Industry Rank for Internet - Software is in the top 36% of over 250 Zacks industries, suggesting a favorable outlook for the industry [8]

Core Insights - The Optimist Fund aims to deliver exceptional long-term investment performance, targeting capital compounding at mid-teens or better over decades [2] - The fund has been operational for nearly four years and is tracking positively towards its five-year investment lens [3] Performance Overview - As of December 31, 2025, the fund's compound returns are as follows: 1 Year: 32.2%, 2 Year: 48.4%, 3 Year: 59.1%, Since Inception: 19.1% [4] - In Q4 2025, the fund experienced a decline of 8.5%, but remains optimistic about the fundamental performance of its holdings [4] Investment Strategy - The fund focuses on identifying businesses where deep research reveals a gap between market expectations and long-term realities, referred to as developing unique insights [5] - The strategy emphasizes long-term investment outcomes over short-term volatility, allowing the fund to capitalize on market dislocations [9][10] Key Holdings and Performance - Top contributors in Q4 included Wayfair and Carvana, both showing significant year-over-year revenue growth [22][23][24] - Top detractors included ThredUp and Monday.com, with ThredUp showing strong fundamentals despite stock price declines [25][26][27] Portfolio Adjustments - The fund exited its position in Fiverr due to a lack of conviction in its growth trajectory, while initiating new positions in Root and Affirm [32][33][35] - DiscoverIE is highlighted as a high-quality industrial compounder with potential for significant EPS growth over the next five years [36][38][39] Future Outlook - The fund believes the next five years will outperform the previous four, driven by improved valuations and stronger underlying business fundamentals [20][21]

Core Insights - Dave Inc.'s proprietary underwriting engine, CashAI, significantly enhances credit risk assessment and eligibility, leading to improved ExtraCash originations and delinquency rates [1] Financial Performance - In Q3 2025, Dave reported $2 billion in ExtraCash originations, marking a 49% year-over-year increase, with consistent growth observed in previous quarters (46% in Q1 and 51% in Q2) [2] - The average 28-day delinquency rate decreased by 7 basis points to 2.33% in Q3 2025, with a notable drop to 2.19% in September due to CashAI v5.5 [3] - Record revenues of $150.8 million were achieved in Q3 2025, representing a 63% year-over-year increase, with adjusted net income rising 193% year-over-year [4] Future Guidance - Management projects revenue for the full year to be between $544 million and $547 million, an increase from the previous guidance of $505 million to $515 million [6] - Adjusted EBITDA is expected to be between $215 million and $218 million, up from the prior estimate of $180 million to $190 million, indicating strong confidence in CashAI's performance [6] Stock Performance - Dave's stock has surged 131% over the past year, outperforming the industry average of 7.9% and contrasting with peers like First Advantage Corporation, which saw a 31.7% decline [7] Valuation Metrics - Dave trades at a 12-month forward price-to-earnings ratio of 14.56, which is lower than the industry average of 25.27, but higher than First Advantage's 10.75 [11] - The Zacks Consensus Estimate for Dave's earnings for 2025 and 2026 has increased by 24.7% and 12%, respectively, over the past 60 days [14]

Core Insights - Microvast Holdings' Huzhou Phase 3.2 project is crucial for expanding production capacity, expected to start initial operations in Q1 2026, adding nearly 2 GWh of annual capacity to meet strong customer demand [1][8] Group 1: Expansion Plans and Financials - The capital expenditure for Q3 2025 was $17.4 million, with $15.5 million allocated to the expansion plan, showing a reduction from $30.6 million in the same quarter last year, indicating effective cost management [2][8] - Management anticipates revenue growth of 18-25% and a gross margin of 32-35%, driven by the scalability from the Huzhou Phase 3.2 expansion [4][8] Group 2: Operational Risks - The company faces operational execution risks, particularly regarding the installation and commissioning of production equipment, which may be impacted by supply chain disruptions [3] Group 3: Market Performance and Valuation - Microvast's stock has increased by 357.6% over the past year, outperforming peers and the industry, which has seen a slight decline [5][8] - The company trades at a forward price-to-earnings ratio of 17.31, below the industry average of 22.65, but at a premium compared to Dave and First Advantage Corporation [9] Group 4: Earnings Estimates - The Zacks Consensus Estimate for Microvast's earnings per share for 2025 and 2026 has decreased by 10.5% and 31%, respectively, over the past 60 days [12]

Core Insights - Skillsoft Corp. (SKIL) is leveraging AI-driven innovation to transform workforce upskilling, with the Percipio platform being central to this strategy [1][5] - The company has secured significant client engagements, including a semiconductor manufacturer enhancing learning for 43,000 employees, validating the effectiveness of its platform [1] - A European digital services provider's collaboration with Skillsoft resulted in over 20,000 certifications earned globally, indicating a growing demand for scalable learning solutions [2] Engagement Metrics - The AI learner base on the Percipio platform increased by 74% year over year, while AI learning hours surged by 158%, reflecting heightened engagement with Skillsoft's offerings [3][8] - These metrics are crucial for enhancing enterprise value and establishing recurring revenue streams through multi-year contracts [3] Financial Performance - Skillsoft achieved a nearly 5.9% reduction in content and software development expenses year over year, contributing to improved margins with a 10-basis-point increase in adjusted EBITDA [4][8] - The company's AI strategy has been instrumental in driving certification achievements and margin improvements, positioning it favorably in the evolving workforce landscape [5] Valuation and Market Position - Skillsoft's stock has declined by 53.6% over the past six months, underperforming the industry average growth of 13.3% [6] - The company trades at a 12-month forward price-to-sales ratio of 2.18, which is lower than peers such as First Advantage Corporation (9.78) and Xperi Inc. (6.15) [10] - Skillsoft holds a Value Score of A, with positive EPS estimates for fiscal years 2026 and 2027, indicating potential for recovery [13]

Core Insights - First Advantage's shares increased by 9.8% following the release of third-quarter financial results that exceeded analyst expectations and provided a positive full-year outlook [1] - The company reported quarterly revenue of $409.2 million, marking a 105% year-on-year increase, and adjusted earnings of $0.30 per share, both surpassing Wall Street forecasts [1] - First Advantage raised its full-year 2025 guidance, expecting revenues to reach a midpoint of $1.55 billion and adjusted earnings per share at a midpoint of $1.00, indicating management's confidence in future performance [1] Market Reaction - The stock has shown volatility, with 14 movements greater than 5% in the past year, suggesting that while the recent news is significant, it may not fundamentally alter market perception of the company [3] - The stock has declined 22.3% since the beginning of the year and is currently trading at $14.33 per share, which is 28.4% below its 52-week high of $20.01 from February 2025 [5]

Core Insights - The Optimist Fund achieved a return of +9.1% in Q3 2025, significantly outperforming its benchmark [5] - The fund's year-to-date return stands at 44.5%, compared to the benchmark's 11.1% [5] - The fund anticipates continued growth opportunities over the next three and a half years, similar to recent performance [4] Fund Performance - The fund's performance over various periods shows significant volatility, with a notable recovery from a -51.4% return in 2022 to 82.9% in 2023 [5] - Compound returns as of September 30, 2025, indicate strong performance across 1-year (61.2%), 2-year (65.6%), and 3-year (61.9%) periods [5] Top Contributors - **Wayfair**: Revenue increased by approximately 5% year-over-year to $3.27 billion, marking its fastest growth since Q1 2021. Adjusted EBITDA reached $205 million, indicating a margin above 6% for the first time since Q2 2021 [7][8][9] - **ThredUp**: Revenue rose 16% year-over-year to $77.7 million, with adjusted EBITDA increasing by around 100%. Active buyers grew by 17% to 1.47 million [10][11][12] - **Carvana**: Retail units sold increased by 41% year-over-year to 143,280 vehicles, with total revenue rising 42% to $4.84 billion. Adjusted EBITDA reached $601 million, reflecting a 12.4% margin [13][14][15] Top Detractors - **Monday.com**: Despite a 27% increase in revenue, the company reduced its second-half 2025 revenue guidance due to weaker performance marketing trends, causing investor concerns [20][21][22] - **Fiverr**: Results were below expectations, leading to a reduction in position size despite maintaining an attractive risk/reward profile [25][26] Portfolio Composition - The top 10 holdings comprise approximately 85% of the portfolio, including ThredUp, Monday.com, Carvana, Uber, Wayfair, DoorDash, First Advantage, Fiverr, Latham Group, and Medpace [27] Notable Changes - The fund exited positions in HelloFresh and Revolve due to management changes and reduced confidence in growth prospects, reallocating capital to more promising opportunities [29][30] Company Insights - **Medpace**: A leading contract research organization (CRO) focused on small and mid-sized biotech companies, showing strong revenue growth of 14.2% year-over-year to $603.3 million [31][18][35] - The company has a disciplined capital allocation strategy, with a history of share repurchases during market downturns, enhancing long-term growth potential [34][35]

Core Insights - The staffing industry is evolving rapidly due to digital innovation, demographic changes, and the demand for flexible work arrangements, making effective staffing essential for companies to remain competitive and agile [2][3] Industry Overview - The staffing ecosystem has transformed, with organizations seeking strategic partners who understand talent needs and market trends, utilizing AI-enabled recruitment tools and talent analytics for smarter hiring decisions [2] - The global competition for talent is intensifying, increasing the value of adaptable and tech-savvy staffing firms, which are now seen as growth enablers rather than mere support functions [3] Investment Opportunities - The staffing sector presents compelling investment opportunities, with companies like Workday, Inc. (WDAY), First Advantage Corporation (FA), and Barrett Business Services (BBSI) positioned as key players in workforce transformation [4] - As hiring accelerates and labor markets evolve, staffing companies are at the forefront, providing scalable solutions that drive economic growth and long-term value creation [4] Company Highlights - Workday is focusing on AI-driven innovation and global expansion, raising its fiscal 2026 guidance to $8.815 billion in subscription revenue, reflecting strong demand and operational discipline [7] - First Advantage Corporation has shown solid financial performance, meeting high-end projections and experiencing positive momentum in international markets, particularly in its Digital Identity solutions [8][9] - Barrett Business Services combines HR outsourcing with professional management consulting, emphasizing personalized client interactions and local market expertise, which supports its sustained growth [10][11][12]

Core Insights - Dave Inc.'s stock has surged 473.4% over the past year, significantly outperforming the industry and broader market indices [1][7][22] - The company's member growth is a primary driver of its financial performance, with a 4% increase in monthly transacting members to 2.6 million in the June quarter [6][7] - The implementation of CashAI v5.5 is expected to enhance profitability and reduce delinquency rates, showing early success [9][10] Financial Performance - In Q2 2025, operating revenues increased by 21.9% to $131.7 million, with ExtraCash originations rising by 20% [7][8] - The adjusted EBITDA grew by 15.2% from the previous quarter, indicating improved profitability [8] - The current ratio of 9.51 reflects strong liquidity, significantly above the industry average of 1.78 [18] Valuation Metrics - DAVE's forward 12-month EPS is priced at 18.73 times, lower than the industry average of 28.59 times, indicating a discounted valuation [11] - The trailing 12-month EV-to-EBITDA ratio stands at 25.6, below the industry average of 39.06, further highlighting its attractive valuation [11] Growth Outlook - The Zacks Consensus Estimate for 2025 revenues is $511.9 million, representing a 47.5% increase year-over-year, with earnings per share expected to surge by 85.5% [19][20] - Analysts have revised EPS estimates upward for both 2025 and 2026, reflecting growing confidence in the company's performance [20] Strategic Initiatives - The company is focused on expanding its customer base, which is expected to enhance financial performance while managing associated credit risks [21][22] - The new fee structure and CashAI underwriting engine are designed to improve credit quality and minimize defaults [21][22]

Group 1 - The current employment market is experiencing significant changes, with job number revisions and rate cuts being prominent topics of discussion [1] - The company utilizes BLS JOLTS data but questions its accuracy, preferring insights from customer feedback and order volumes [1] - Customer feedback and order volumes indicate a different narrative compared to the mainstream media and JOLTS data [1]