Bullpen.News From Edwin Dorsey
Get Daily Recap Feedback

Tuesday, November 3, 2026

Back to the front page

TWLO Q3 FY12/26 Earnings Review

Twilio's Q3 revenue rose 20% to $1.56 billion, but Q4 organic growth guidance fell to 11% to 12% and RPO declined 28%.

TWLO $33B
Cestrian Capital Research 3 clicks

From X

@BrokenMoats

Broken Moats on X

??? Two things can be true at the same time. In that you can have a slow down from weak international travel (administration) domestically, weak lower end consumer, glp, and inflation that is dragging down sales. And yet you can continue to invest in new store counts if the economics of your model are intact AND you have the balance sheet to continue to invest in your business. The competitors you cited besides macro have other issues impacting their ability to invest; PTLO has a serious balance sheet issue SG has an economic model problem... *turns out 18$ salads is a tough business*. Mcdonalds increased store openings in 2008 AND 2009 even as SSS growth was slowing every year 06-09....those investments worked out just fine because the model works. $SHAK SSS still going to print solidly positive for the year while most chains won't this year (and thats without the added store count). Shak has issues, all restaurants are tough and tough to scale and Rob and the cfo are far from Mcdonalds level of execution, but at 1x sales and a +20% restaurant margin model with 4m AUV theres a lot more room to the upside then the downside at current levels. I don't think they get to the dream target of 1500 stores, but that would be a 10x from here, whats the downside, at almost 1x current....30% maybe? I'll take that asymmetric set up. (Entered shares today)

Investor Letters

All letters

Stevanato down 30%. Yikes.

Stevanato fell 30% after forecasting low-single-digit 2027 growth as lower Nexa syringe volumes from a GLP-1 customer offset solid Q3…

STVN $3.6B
Best Anchor Stocks 3 clicks

Mammoth Energy: Fly Like An Eagle

Mammoth Energy's aviation unit derives 85% of revenue from engine and APU leases, earning 18% yields while Surf Air's going concern warning…

TUSK $151M
Naples Investor 2 clicks
BSP · short

Bending Spoons Spa

Bending Spoons is a software and digital-assets holding company that has completed more than 50 acquisitions since 2013.

BSP $29B
Value Investors Club 1 click

FTAI Aviation Update, Part Two

FTAI Aviation’s $234 million Jereh JV deposit funds Power inventory, while customer concentration, lower cash guidance and pending U.S.

FTAI $17B
CV's Substack 5 clicks

Publications we follow

Every publication on this site, hand-picked.

129 publications

Newsletters 109

YouTube 4

Blogs 15

Seeking Alpha 75 of 279

Nominate a publication

X accounts we follow

Every account on this site, hand-picked.

91 accounts
Nominate an account

Investor letters we follow

359 firms

Sectors

Ordered by how often our editor reaches for them.