AppLovin 3Q26 Business Update: No Notes
AppLovin’s Q3 revenue rose 55% year over year as AXON model gains expanded margins, while ad take-rate compression remains the key competitive risk.
Thursday, November 5, 2026
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catechwilliams on X
$CVGW In MRQ benefited from temp avocado price spike and 1-time F/X add-back. Volumes have been declining LDD for the last 3Qs ($CMG shifting suppliers). DOJ investigation continues. Prices & earnings reverting lower. Commodity distributor trading at 30x P/E is not sustainable.
catechwilliams on X
$DAKT New $50M display upgrade award for the Miami Heat arena. Will be a nice boost to current quarter earnings (FQ2'25).
catechwilliams on X
$NX Just acquired peer Tyman. >3x leverage, never done a deal before, commodity business, customers all cutting numbers w deteriorating resi remodel activity ($AMWD yesterday, $MBC, $OC, $JELD). Stock is trading at close to 14x EPS. Seen this movie before. Earnings next week.
Brian McGough on X
My team has the stones to tell me "the deck we prepared on $PLNT is the best work we've EVER done." I rarely hear that degree of confidence from anyone. You be the judge...presentation TOMORROW, 8/16. Deets below.
Brian McGough on X
The work we're doing on $PLNT is next-level -- similar to what we did on $FND, but with a VERY different conclusion. Analyzing each store from a property developers perspective... Black Book on Friday...
Brian McGough on X
Is anybody looking at $REAL NOLs? I bet $EBAY is. EBAY has failed in luxury authentication. It NEEDS REAL. They could use $2/share in realized NOLs with the stock trading at $3. Maybe they buy this when it's a $10 stock, but at $3 it's a slam dunk.
Brian McGough on X
$REAL CEO gets an A+ for executing on the model. But a D- for communicating on last night's call. The reality is that supply growth -- THE KEY to GMV/Cash Flow -- is ACCELERATING. Stock getting tagged today in a Quad4 tape on a sloppy guide. But this story 100% on track.
Investor Letters
All letters- Forager Funds Management October 2026 TUA $525M
- Rathbones October 2026 SBGSF $143BSIEGY $233B
- FCL Capital October 2026 ANPDF $28BBKNG $122B
- Protean Funds October 2026 AAK $4.8BLFABF $13B
- JB Global Capital Q3 2026 BABA $255BFLO $1.4B
- Pendelhaven Asset Management B.V. Q3 2026 DR0 $396MALM $2.5B
- Chautauqua Capital Management Q3 2026 AAIGF $103BADYEY $32B
- Night Watch Investment Management Q3 2026 AZLGF $3.3BIMCDY $6.7B
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Sectors
Ordered by how often our editor reaches for them.
