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Mont Blanc Research

Thematic Cross-Sector Global Equities Research

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Latest Issues

ams OSRAM (Short Read)

ams OSRAM is an Austrian fully integrated semiconductor company listed on the SIX Swiss Exchange, as for writing of this article it’s trading at 8 CHF per share. The company designs, manufactures, and sells lighting and sensor technologies....

2 months ago
26

Red Cat Holdings (Q4'25 Earnings Review)

From my initial report about RCAT in December the stock is up ~(+115%).

I’m very happy with Red Cat’s full year earnings print. (RCAT) Delivered Record Q4 Revenue of $26.2M, Full-Year Revenue Up 161% Y/Y; Massive Manufacturing Scale-Up whi...

2 months ago
12

ZETA: Q4'25 Earnings Review

Financial Results For FY2025

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Revenue

  • Fourth quarter revenue of $394.6 million, up 25% Y/Y, exceeding the midpoint of guidance by $14 million

  • Organic growth of 28% Y/Y when excluding political candidate, LiveInte...

3 months ago
24

DraftKings (DKNG) Sniff Test: The Profitability Paradox

I’m introducing a new newsletter the “Sniff Test".

Brett Caughran ex-PM at Citadel and Maverick:

On the Purpose of the Sniff Test

“The goal is to kill the idea before it kills your schedule.”

Opportunity Cost

“If you spend...

3 months ago
16
1

SaaS Is Not Dead (Thematic)

AI-driven pessimism has compressed SaaS multiples to levels that underestimate moat durability and long-term cash flows.

The Seattle Seahawks just won Super Bowl LIX!

4 months ago
29
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