Archive
Welcome to the archive. You can browse the full archive of Recursive Gains articles by month.
Q3 2026
- MELI Whose Fintech Side-Business Is Actually the Better Business: MELI's, SE's, GOTO's, or GRAB's?Aug 02
- GOTO GoTo vs Grab: Which Southeast Asian Super-App Has the Stronger Path to Profits?Aug 01
Q2 2026
- BHARTIARTL Q2 2026 The Real Growth Engine Quietly Swapped Continents This QuarterAug 15
- MELI Q2 2026 A $10 Billion Revenue Quarter, Right After Losing a Multi-Year Tax FightAug 15
- SWIGGY Q2 2026 Instamart Hit Its Breakeven Target On Schedule. The Quarterly Loss Barely Moved.Aug 15
- IDEA Q2 2026 Did the "Profit Quarter" Already Reverse?Aug 15
- DASH Q2 2026 DoorDash Repurchased $887 Million of Stock and More Than Doubled Its Credit Line the Same Quarter Net Income Fell 30%Aug 15
- CPNG Q2 2026 A $570 Million Loss - Or $160 Million, Depending Which Number You TrustAug 15
- XYZ Q2 2026 The DOJ Accrual More Than Doubled — So Why Did Profit Come Back?Aug 15
- SE Q2 2026 Sea's Revenue Grew 48%. Its Adjusted EBITDA Grew Just 11%Aug 15
- TLKM Q2 2026 The Stock Fell 33% This Half - The Numbers Didn'tAug 15
- AMRT Q2 2026 Free Cash Flow Finally Grew Again - But a Core Stake's Paper Loss Just Tripled to 85% of CostAug 15
- NU Q2 2026 Nu Just Booked Its First $1 Billion Profit Quarter. Its Cost Base Grew Faster Than Revenue To Get There.Aug 15
- UBER Q2 2026 Uber Just Bought a 37% Stake in a Rival - Then Offered to Buy the RestAug 15
- ADYEN Q2 2026 Take Rate Fell Back Below Last Year's Level — Was the Reversal Ever Real?Aug 15
- SOFI Q2 2026 Every Number Was a Record and Guidance Went Up - So Why Are the Capital Ratios Still Falling?Aug 15
- DMART Q2 2026 Revenue Grew 15%. Why Did the Growth Engine Just Downshift?Aug 15
- ICICIBANK Q2 2026 Is the Cheap-Deposit Machine Running Out of Fuel?Aug 15
- LYFT Q2 2026 Lyft's Gross Bookings Grew Twice as Fast as Its Rides Again - What's Actually Driving the Gap?Aug 15
- ISAT Q2 2026 An 84% Profit Jump That Was Mostly a Fiber-Network SaleAug 15
- CHYM Q2 2026 Growth Reaccelerated for the First Time in a Year - Then the CFO QuitAug 15
- HOOD Q2 2026 Are Prediction Markets Now A Bigger Legal Risk Than A Growth Driver?Aug 15
- GRAB Q2 2026 Four Records on the Income Statement. Free Cash Flow Fell Anyway.Aug 06
- ARTO Q2 2026 Profit Grew 49% This Half - So Why Did the Stock Just Hit a New Two-Year Low?Aug 01
- SUPA Q2 2026 Superbank's Stock Has Lost Almost Half Its Value Since Its IPO. Insiders Are Still Buying.Jul 31
- BFIN Q2 2026 Cost of Credit Was Cut Nearly in Half This Quarter - So Why Did New Bookings Keep Shrinking?Jul 30
- GOTO Q2 2026 GoTo's Profit Nearly Tripled and Adjusted EBITDA Topped Rp1 Trillion - So Why Did the Buyback Slow 60%?Jul 30
- GROWW Q2 2026 The Quarter a Wrong Answer on the Call Actually MatteredJul 30
- PAYTM Q2 2026 Paytm's Highest-Ever Quarterly Profit Comes Right as Its Government Subsidy Runs OutJul 30
- BBCA Q2 2026 Why Is Profit Growth Grinding to a Halt While Corporate Loans Boom 14%?Jul 30
- ETERNAL Q2 2026 Segment Profit Hit a Record Rs. 849 Crore - So Why Did Net Income Fall 47%?Jul 29
- JIOFIN Q2 2026 Finally, the Segments - And Lending Is the Least Profitable OneJul 24
- BMRI Q2 2026 Mandiri's Revenue Fell 13% This Quarter - So Why Did Profit Jump 33%?Jul 24
Q1 2026
- PDD Q1 2026 Why Did Net Income Fall 15% in a Quarter Operating Profit Rose 22%?Aug 15
- IDEA Q1 2026 Did an Accounting Rule Just Turn India's Most Distressed Telecom Profitable?Aug 15
- DNET Q1 2026 The IDX Stock Pricing an Unlisted Retailer at 105.7 Times Its EarningsAug 15
- ISAT Q1 2026 A Telecom That Grew Profit 14% While Its Subscriber Base ShrankAug 15
- MEITUAN Q1 2026 Is Bank Debt Now Funding China's Delivery Price War?Aug 14
- SOFI Q1 2026 Record Profit, Record Revenue - So Why Did the Stock Halve From Its November High?Aug 14
- HOOD Q1 2026 Why Did The Stock Crash 53% While Revenue Kept Growing?Aug 14
- XYZ Q1 2026 Did the Profit Really Disappear, or Is $852 Million of Charges Hiding It?Jun 05
- MELI Q1 2026 Free Shipping Got Cut in Brazil - and Operating Margin Nearly HalvedMay 27
- NU Q1 2026 Nu Says Revenue Crossed $5 Billion. Its Own Filed Statements Say $347 Million Less.May 27
- SE Q1 2026 Sea's Revenue Grew 47%. Its Adjusted EBITDA Grew Just 9%May 26
- SEABANK Q1 2026 SeaBank's Best Quarter Yet Comes With a Familiar CatchMay 25
- PAYTM Q1 2026 Paytm's First-Ever Profitable Fiscal Year Arrives With Its Own Bank in Wind-DownMay 21
- ETERNAL Q1 2026 Net Income Rose for a Third Straight Quarter - So Why Did the Full Fiscal Year Fall 31%?May 20
- GROWW Q1 2026 The Quarter the Scoreboard Quietly ChangedMay 20
- BHARTIARTL Q1 2026 A New Rs3,161 Crore Charge Appeared, and the CFO Wouldn't Say What It Was ForMay 19
- DASH Q1 2026 DoorDash Exited Several Countries and Restarted Its Buyback the Same Quarter Its Stock Fell Below $150May 14
- SWIGGY Q1 2026 Instamart's Full-Year Loss Grew 62%. Its Own Breakeven Deadline Is Due Starting Next Quarter.May 11
- CHYM Q1 2026 First Profitable Quarter Ever - and the Market Paid Less For the Stock AnywayMay 11
- BFIN Q1 2026 Profit Fell 12.6% While Revenue Grew - What's Actually Wrong Here?May 10
- GOTO Q1 2026 GoTo's Real Operating Income Hit a Record Rp418 Billion. Its Stock Fell 20% Anyway.May 08
- BBRI Q1 2026 Every Guidance Metric Was Beaten This Quarter. The Stock Just Hit a Two-Year Low Anyway.May 06
- CPNG Q1 2026 Did a $1.2 Billion Voucher Bill Just Wipe Out a Quarter's Profits?May 06
- ARTO Q1 2026 Profit Grew 42% This Quarter - So Why Did the Stock Just Crash 33%?May 06
- UBER Q1 2026 Uber's Operating Income Rises 57% to $1,923 Million, Its Highest Yet - While Net Income Falls 85% on a $1.5 Billion Equity-Stake LossMay 06
- SUPA Q1 2026 Superbank Turned Its First Real Profit as a Public Company - With 84% of Its Capital Still Sitting IdleMay 06
- JIOFIN Q1 2026 The Balance Sheet That Tripled Its Leverage in One YearMay 06
- LYFT Q1 2026 Lyft Finished Its $750 Million Buyback Program and Immediately Authorized a New $1 Billion OneMay 06
- BMRI Q1 2026 It Lost a Quarter of the Group's Balance Sheet Overnight - So Why Did Profit Still Jump 17%?May 06
- BABA Q1 2026 Why Did Profit Fall Only 20% When Operating Income Cratered 64%?May 06
- BBCA Q1 2026 Why Did the Stock Fall 20% This Quarter Even as Profit Kept Growing?May 06
- AMRT Q1 2026 Why Did the Stock Hit a New Low the Same Quarter the Overhead Problem Finally Reversed?May 05
- GRAB Q1 2026 Grab's Stock Fell 27% This Quarter - Its Best-Ever Q1 Says the Business Didn'tMay 05
- BIRD Q1 2026 Revenue Rose 11.5% This Quarter - So Why Did Operating Profit Fall Nearly 10%?Mar 31
Q4 2025
- BFIN Q4 2025 Book Value Just Fell Below Book - Is the Market Pricing in a Credit Crisis That Isn't in the Numbers?Jul 30
- TLKM Q4 2025 A 20% Profit Drop That Turns Into 6% Once You Strip the One-OffsJun 10
- PDD Q4 2025 Growth Fell From 59% to 9.6% in One Year — And the Tariff Shock Barely Hit YetMay 15
- AMRT Q4 2025 Why Did Every Region That Collapsed in Q3 Suddenly Surge in Q4?May 06
- DHER Q4 2025 Delivery Hero Hit Its Adjusted EBITDA Target - So Why Does One Subsidiary Have a Going-Concern Warning?Apr 20
- SEABANK Q4 2025 Whose Money Is Actually Sitting Inside SeaBank?Apr 15
- NU Q4 2025 Nu Introduced a New P&L Framework the Same Quarter Its Growth Rate Needed FlatteringApr 14
- CHYM Q4 2025 Is the Underwriting Finally Catching Up With Growth?Apr 03
- SE Q4 2025 Sea Posted Its Best Profit Quarter Ever. Its Stock Fell 29% AnywayMar 16
- GOTO Q4 2025 GoTo Beat Its Full-Year Guidance. Its Real Operating Loss Tripled the Same Quarter.Mar 13
- SUPA Q4 2025 Superbank Went Public at Rp635 a Share. The Market Priced It 47% Higher Within Two Weeks.Mar 11
- MELI Q4 2025 Revenue Grew 39% This Year - So Why Did Net Income Barely Move?Mar 10
- ISAT Q4 2025 Where Did Indosat's 2025 Profit Growth Actually Come From?Mar 10
- ADYEN Q4 2025 The Take-Rate Reversal Held All Year — So Why Did the Stock Get Cheaper?Feb 24
- DASH Q4 2025 DoorDash's Net Income Jumped 660% to $935 Million the Same Year Its Stock Fell 17% in the Final QuarterFeb 19
- UBER Q4 2025 Uber's FY2025 - Operating Income Nearly Doubles to $5.6 Billion, While Net Income Growth Stalls on a Second Tax ReleaseFeb 13
- BHARTIARTL Q4 2025 A 26% Growth Quarter Reported Itself as a 55% Profit CollapseFeb 12
- GRAB Q4 2025 Grab Just Posted Its First Full Year Of Profit - The Stock Fell 17% AnywayFeb 12
- LYFT Q4 2025 A $2.9 Billion Tax Benefit Pushed Lyft's Full-Year Net Income to $2.84 Billion - Even as Its GAAP Operating Loss WidenedFeb 11
- PAYTM Q4 2025 Paytm Just Posted Its Biggest Profit Ever — Is the Loss Era Actually Over?Feb 10
- BMRI Q4 2025 Mandiri's Profit Decline Reversed in Q4 - So What Actually Changed?Feb 09
- CPNG Q4 2025 Did a 33-Million-Account Data Breach Just Sink the Holiday Quarter?Feb 05
- BBRI Q4 2025 Profit Grew Again After Three Straight Declines. So Did the Riskiest Part of the Loan Book.Feb 03
- GROWW Q4 2025 The Quarter Where Profit Fell and the Business Didn'tFeb 03
- BBCA Q4 2025 Is Profit Growth Finally Running Out of Steam?Feb 03
- JIOFIN Q4 2025 Why Profit Fell 61% Quarter-on-Quarter, AgainFeb 03
- SWIGGY Q4 2025 Two Straight Quarters of a Shrinking Loss, Bought With an 11.5% Dilution and a Quick-Commerce Business Going the Wrong WayJan 29
- ETERNAL Q4 2025 Net Income Rose for a Second Straight Quarter - So Why Is the Founder Stepping Down as CEO?Jan 29
- ARTO Q4 2025 Bank Jago's Profit Doubled This Year - So Why Did the Stock Fall 18.7%?Jan 25
- BIRD Q4 2025 Net Income Rose 8.7% This Year - So Why Did Bank Debt Jump 66%?Dec 31