Archive
Welcome to the archive. You can browse the full archive of Recursive Gains articles by month.
Q2 2025
- SEABANK Q2 2025 SeaBank's Return on Equity Just Doubled - But Deposits Are Growing Faster Than Its Balance Sheet Can AbsorbAug 25
- ADYEN Q2 2025 Take Rate Finally Rose — But Is It a Real Reversal or Just One Customer Shrinking?Aug 19
- CHYM Q2 2025 A $923 Million Quarterly Loss That Isn't What It Looks LikeAug 08
- BHARTIARTL Q2 2025 The Cleanest Quarter in Years Made the Headline Growth Number Look SmallerAug 04
- SWIGGY Q2 2025 Instamart's Breakeven Guidance Finally Held Still. Everything Else Slowed Down To Get There.Jul 31
- JIOFIN Q2 2025 The 4% Profit 'Growth' That's Actually a Bargain-Purchase Accounting GainJul 17
Q1 2025
- BHARTIARTL Q1 2025 The Investor Deck Rewrote Last Year's Numbers. Real EBITDA Was 11% Lower.May 20
- SWIGGY Q1 2025 Food Delivery Finally Turned Real Money. Instamart Just Moved the Goalposts Again.May 09
- SEABANK Q1 2025 SeaBank's Loan Book Grew 10.3% in a Quarter - Its Capital Buffer Is the Thing to Watch NowApr 25
- JIOFIN Q1 2025 First Debt, First Dividend: Did FY25 Finally Turn the Story Real?Apr 17
Q4 2024
- SEABANK Q4 2024 SeaBank's Margin Is Still Enormous. Its Return on Equity Still Isn't.Apr 25
- BHARTIARTL Q4 2024 Profit Jumped 505%. A Joint Venture Turning Into a Subsidiary Is Why.Feb 14
- SWIGGY Q4 2024 Why Faster Growth Meant A Bigger Loss, Not A Smaller OneFeb 05
- ADYEN Q4 2024 Take Rate Fell for a Second Straight Year — Is This the New Normal?Feb 04
- JIOFIN Q4 2024 The Profit 'Crash' That Happens Every December, Right on ScheduleJan 17
Q3 2024
- SWIGGY Q3 2024 The Profitable Business Bankrolling the One That Isn'tDec 18
- SEABANK Q3 2024 SeaBank's Nine-Month Profit Is Up 32%. Its Third Quarter Alone Fell.Nov 29
- BHARTIARTL Q3 2024 Net Income Jumped 168% Again. The Real Number Underneath Was 32%.Nov 08
- JIOFIN Q3 2024 How Jio Financial Collects Reliance's Dividend TwiceOct 18