Archive
Welcome to the archive. You can browse the full archive of Recursive Gains articles by month.
Q4 2025
- 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
Q3 2025
- SEABANK Q3 2025 SeaBank's ROE Just Hit a Filing-History High - Its NPL Ratio Just Turned Unfavorable TooDec 10
- MEITUAN Q3 2025 Meituan Lost RMB18.6 Billion in a Single Quarter. Its Own Buyback Went to Zero.Dec 10
- DMART Q3 2025 Finance Costs More Than Doubled. This Is a Trend, Not a Blip.Dec 01
- SE Q3 2025 Sea Grew 38% and Stayed Silent on Its $86 Million Settlement for a Third Straight QuarterNov 21
- GROWW Q3 2025 The Quarter Where Profit Grew and the Business Didn'tNov 21
- TLKM Q3 2025 The Tax Office Just Sent a Rp14.5 Trillion Bill for a 2023 Deal This Dataset Already CoveredNov 20
- NU Q3 2025 Nu Deliberately Grew Into Lower-Yield Assets in Q3. Its Risk-Adjusted Margin Still Went Up.Nov 20
- XYZ Q3 2025 Revenue Growth Returned, Cash App Reaccelerated to 24%, and Free Cash Flow Hit $1.4 Billion in a Single QuarterNov 20
- IDEA Q3 2025 The Smallest Quarterly Loss Since the Merger - Is the Corner Finally Here?Nov 18
- SOFI Q3 2025 SOFI Finally Cleared Its January 2021 All-Time HighNov 18
- DNET Q3 2025 A Second New Joint Venture Just Appeared. Nobody's Explained the First One Either.Nov 18
- ISAT Q3 2025 GB200 Capacity Is Now Fully Contracted, But 9M 2025 Profit Is Still Down 7.5% YoYNov 18
- MELI Q3 2025 A Brazilian Court Just Handed Down a $501 Million Tax Bill - Why Isn't It in the Headlines?Nov 14
- DASH Q3 2025 DoorDash Closed the Deliveroo Acquisition Two Days After the Quarter EndedNov 13
- AMRT Q3 2025 Why Did Nine-Month Profit Fall for the First Time Outside the Pandemic?Nov 11
- CHYM Q3 2025 Why Did the Stock Fall 42% the Quarter Adjusted EBITDA Finally Turned Real?Nov 10
- ARTO Q3 2025 The Sharia Book That Collapsed in Q2 Just Grew 140% in Q3 - What Changed?Nov 07
- BHARTIARTL Q3 2025 The Distortion That Shrank Last Quarter's Headline Flipped and Inflated This OneNov 07
- GOTO Q3 2025 GoTo Raised Its Guidance and Turned Cash Flow Positive. Its Real Operating Line Slipped Back Into a LossNov 06
- BFIN Q3 2025 Credit Quality Improved Every Which Way in Q3 - So Why Did Two of Three Segments' Profit Crater?Nov 06
- BBRI Q3 2025 Credit Costs Are Falling. Profit Still Isn't Recovering.Nov 05
- LYFT Q3 2025 Lyft's Founders Voluntarily Converted Their Last Class B Shares to Class A, Ending Its Dual-Class StructureNov 05
- BBCA Q3 2025 Is a 26% Stock Slide Bigger Than the Actual Slowdown?Nov 05
- HOOD Q3 2025 Native American Tribes Just Filed a RICO Suit Over the Event Contracts - What's the Claim About?Nov 05
- CPNG Q3 2025 The Buyback Finally Executed - Right as the Record Margins Cooled OffNov 04
- UBER Q3 2025 Uber's Net Income Hits $6.6 Billion on a Second Straight Tax Valuation Release - This Time the NetherlandsNov 04
- GRAB Q3 2025 Grab Raised Guidance Twice This Year - Then Went Quiet On Capital Returns AgainNov 04
- BMRI Q3 2025 Mandiri's Profit Fell Again in Q3 - But This Time It Wasn't Promotion SpendingNov 04
- JIOFIN Q3 2025 The Quarter the Lending Book Grew 12xNov 04
- PAYTM Q3 2025 The Payment Aggregator License Is Finally Back - So Why Did Profit Crater 90%?Nov 04
- ETERNAL Q3 2025 Revenue Nearly Doubled in a Quarter — Was Any of That Growth Real?Oct 30
- SWIGGY Q3 2025 For the First Time, the Loss Shrank From Last Quarter. It's Also Asking For More Cash It Says It Isn't Needed.Oct 30
- SUPERBANK Q3 2025 Superbank's Loan-to-Deposit Ratio Finally Eased - Right As a Shareholder Quietly Reshuffled Its StakeOct 20
- BIRD Q3 2025 Revenue Rose 8.5% This Quarter - So Why Did Profit Fall 15%?Sep 30
Q2 2025
- MEITUAN Q2 2025 Meituan's Profit Collapsed 98% Before Anyone Called It a Price WarOct 15
- DHER Q2 2025 Delivery Hero Finally Posted a Profitable Operating Result - So Why Is a €860 Million Spain Liability Still Unrecognized?Sep 15
- XYZ Q2 2025 The Same Bitcoin Swing That Cut Net Income 60% Last Quarter Just Added 183% to ItSep 10
- ICICIBANK Q2 2025 Retail Loan Growth Just Halved — Is ICICI Bank Deliberately Slowing Down?Sep 10
- DMART Q2 2025 Finance Costs Just Grew 84%. The Company Still Hasn't Said Why.Sep 01
- SE Q2 2025 Sea Just Posted Its Best Quarter Ever. Its $86 Million Settlement Still Hasn't Come Up on a Call.Aug 25
- SEABANK Q2 2025 SeaBank's Return on Equity Just Doubled - But Deposits Are Growing Faster Than Its Balance Sheet Can AbsorbAug 25
- ISAT Q2 2025 Being First in Asia to Bring NVIDIA GB200 Servers Live Came With a Real Debt IncreaseAug 25
- TLKM Q2 2025 The Stock Just Bounced 15% - And a Rp150 Trillion Fiber Spin-Off Plan SurfacedAug 20
- NU Q2 2025 Nu's Margin Just Compressed on Funding Costs, Not Credit Risk. That's a Different Story.Aug 20
- MELI Q2 2025 MELI's Stock Doubled in Two Years - So Why Did Net Income Just Fall?Aug 20
- SUPERBANK Q2 2025 Superbank Is Profitable Again - By Lending Out Almost Every Rupiah It Takes InAug 19
- DNET Q2 2025 The Company Just Quietly Increased Its Stake in a Money-Losing AssociateAug 19
- ADYEN Q2 2025 Take Rate Finally Rose — But Is It a Real Reversal or Just One Customer Shrinking?Aug 19
- IDEA Q2 2025 The Government's 49% Stake Landed on the Balance Sheet - and the Deficit Still WidenedAug 18
- BBCA Q2 2025 Q1's Deposit Rally Didn't Last - So Was the LDR Squeeze Ever Actually Easing?Aug 18
- SOFI Q2 2025 Financial Services Is Now Within 23% of Overtaking Lending as SoFi's Top SegmentAug 18
- CPNG Q2 2025 Record Margins, a Record Stock Price, and a Buyback Still Sitting UntouchedAug 11
- CHYM Q2 2025 A $923 Million Quarterly Loss That Isn't What It Looks LikeAug 08
- DASH Q2 2025 DoorDash Took On Its First-Ever Debt to Fund a $2.8 Billion Bid for DeliverooAug 07
- UBER Q2 2025 Uber's Operating Income Rises 82% to $1,450 Million - A New Quarterly HighAug 06
- GOTO Q2 2025 Why Did GoTo's Stock Crash 30% in Its Best Quarter Yet?Aug 06
- HOOD Q2 2025 The Stock More Than Doubled This Quarter - Did the Business Actually Catch Up?Aug 06
- BMRI Q2 2025 Mandiri's Profit Just Fell 18% in a Single Quarter - So Why Is There No Segment Note to Explain It?Aug 06
- LYFT Q2 2025 Lyft Posted a Second Positive Quarter of GAAP Operating Income, and Doubled Its Buyback Authorization to $750 MillionAug 06
- AMRT Q2 2025 Why Did Growth Vanish the Moment Q1 Ended?Aug 05
- ARTO Q2 2025 The Strong Operating Cash Flow Quarter Didn't Last EitherAug 04
- BHARTIARTL Q2 2025 The Cleanest Quarter in Years Made the Headline Growth Number Look SmallerAug 04
- BFIN Q2 2025 A 3-Year Treasury Overhang Just Got Cancelled - Right as Credit Quality Hit a Multi-Year HighAug 04
- BBRI Q2 2025 The Cost Problem Vanished - So Why Is Profit Still Falling?Aug 04
- ETERNAL Q2 2025 Revenue Jumped 23% in a Quarter — So Why Did Net Income Fall a Fifth Straight Time?Aug 04
- SWIGGY Q2 2025 Instamart's Breakeven Guidance Finally Held Still. Everything Else Slowed Down To Get There.Jul 31
- GRAB Q2 2025 Grab Finished Its Buyback With Borrowed Money - Is That Capital Discipline?Jul 31
- PAYTM Q2 2025 Is the First-Ever Profitable Quarter Real, or Just a Weak Base Comparison?Jul 22
- JIOFIN Q2 2025 The 4% Profit 'Growth' That's Actually a Bargain-Purchase Accounting GainJul 17
- BIRD Q2 2025 Debt-to-Equity Just Crossed 0.50x - Does the Profit Growth Make Up for It?Jun 30
Q1 2025
- XYZ Q1 2025 Operating Income Grew 32% - Net Income Fell 60% on a Bitcoin Swing Nobody ControlsJul 05
- DMART Q1 2025 Operating Income Fell Year-on-Year for the First Time in This ArcJun 20
- SUPERBANK Q1 2025 Superbank's First Profitable Quarter Came With Its Loan-to-Deposit Ratio Falling by HalfJun 06
- SE Q1 2025 Sea Had Its First Real Chance to Address an $86 Million Settlement. It Talked About a Rebrand Instead.May 27
- IDEA Q1 2025 The Government Just Agreed to Become Vi's Majority Shareholder - What Happens Next?May 25
- TLKM Q1 2025 The Stock Is Down 41% in Two Years - Now Trading Under a New State Holding CompanyMay 20
- BHARTIARTL Q1 2025 The Investor Deck Rewrote Last Year's Numbers. Real EBITDA Was 11% Lower.May 20
- DNET Q1 2025 Fast Food's Loss Narrowed 81%. Retail Grew Again for the First Time in a Year.May 20
- ISAT Q1 2025 A 40% Stock Drop Came Even as NVIDIA GB200 GPUs Were Ordered for AI InfrastructureMay 20
- MELI Q1 2025 MELI's Credit Book Grew 75% - So Why Did Free Cash Flow Go Negative?May 19
- SOFI Q1 2025 A Sixth Straight Profitable Quarter, Clean of Any One-Time ItemMay 15
- ETERNAL Q1 2025 The Best Fiscal Year Ever — So Why Did Free Cash Flow Turn Negative?May 14
- NU Q1 2025 Nu's Reported Revenue Growth Just Halved. The Real Number Didn't.May 13
- SWIGGY Q1 2025 Food Delivery Finally Turned Real Money. Instamart Just Moved the Goalposts Again.May 09
- GOTO Q1 2025 Who Rewrites the Formula Behind Its Own First Profitable Year?May 08
- DASH Q1 2025 DoorDash Announced a $5 Billion Buyback - 4.5x Its Last One - Then Bought Back Zero SharesMay 08
- LYFT Q1 2025 Lyft Posted Its First-Ever Profitable First Quarter, and Bought Back $50 Million of Stock Under Its New ProgramMay 08
- HOOD Q1 2025 Sports Betting Contracts Just Got Suspended By Regulators - Then Relaunched Weeks LaterMay 07
- AMRT Q1 2025 Why Did the Stock Fall 28% in a Quarter Every Segment Grew?May 06
- UBER Q1 2025 Uber's Operating Income More Than Doubles to $1,228 Million - Net Income Swings Back to a ProfitMay 06
- BBRI Q1 2025 Profit Fell 14% While Credit Quality Improved - So What Actually Went Wrong?May 06
- ARTO Q1 2025 Profit Grew 178% This Quarter - So Why Did the Stock Just Have Its Steepest Drop Since Q4 2022?May 06