Archive
Welcome to the archive. You can browse the full archive of Recursive Gains articles by month.
Q3 2022
- HOOD Q3 2022 The First Profitable Quarter Ever Just Landed - By Cutting, Not GrowingNov 12
- ETERNAL Q3 2022 Food Delivery Finally Turned a Profit - So Why Did Zomato's Loss Get Bigger?Nov 10
- BBCA Q3 2022 Margins Finally Widen as Corporate Lending Stalls AgainNov 10
- SOFI Q3 2022 Deposits Doubled Again to $5 Billion - But So Did the Debt They Were Supposed to ReplaceNov 10
- IDEA Q3 2022 This Telecom's Survival Plan Is Stuck Waiting on a Government That Stopped ReplyingNov 09
- CPNG Q3 2022 The First-Ever Profitable Quarter Doesn't Need an Asterisk This TimeNov 08
- DMART Q3 2022 Profit Grew 64%. A One-Off Tax Benefit Did Much of the Work.Nov 08
- PAYTM Q3 2022 The RBI Finally Responded on Paytm's Banking Associate - With No Timeline AttachedNov 07
- LYFT Q3 2022 A $135.7 Million Impairment Drove Lyft's Net Loss to $422 Million - Its Largest Ever - While Adjusted EBITDA Fell Sequentially for the First TimeNov 07
- BFIN Q3 2022 Two Straight Quarters Without a Cure Rate - Does a Shrinking Restructured Book Still Mean What It Used To?Nov 03
- ARTO Q3 2022 The Profit Imbalance That Kept Getting Worse Just Didn'tNov 03
- BBRI Q3 2022 Profit Nearly Doubled - So Why Is It Still Missing Four of Its Own Five 2022 Targets?Nov 03
- UBER Q3 2022 Uber's Adjusted EBITDA Hit a Record $516 Million - And the Stock Finally Rebounded, Up 30%Nov 01
- ICICIBANK Q3 2022 Why Won't ICICI Bank Say What Its Rs. 10,000 Crore Buffer Is For?Oct 22
- BIRD Q3 2022 Every Metric Hit A Record. The Stock Fell Anyway.Sep 30
Q2 2022
- TLKM Q2 2022 The GoTo Markdown That Hurt Q1 Reversed Into a Gain This QuarterOct 24
- ISAT Q2 2022 Another Deconsolidation Gain Padded Indosat's Profit, Just Like Last YearSep 13
- UBER Q2 2022 Uber's Stock Fell 43% This Quarter - While Adjusted EBITDA and Free Cash Flow Both Turned PositiveSep 10
- DHER Q2 2022 Is a Majority Stake in Glovo Worth a Dawn Raid From Brussels?Sep 05
- GOTO Q2 2022 The Margins Improved Sequentially. The Real Segment Losses Didn't.Aug 30
- SE Q2 2022 A First-Ever Goodwill Writedown, a Suspended Guidance, and a Stock Down 80% From Its PeakAug 30
- AMRT Q2 2022 Its Rights Issue Deadline Lapsed - So Why Did It Just Buy a Bank?Aug 29
- GRAB Q2 2022 Revenue Beat GMV Growth for the First Time - But At What Cost?Aug 25
- XYZ Q2 2022 Block's Own Bitcoin Bet Lost 56% of Its Value the Same Quarter Crypto CrashedAug 20
- DNET Q2 2022 The Dilution Overhang Just Reversed Itself — QuietlyAug 20
- MELI Q2 2022 The Stock Fell 66% From Its Peak This Quarter - The Business Grew Revenue 52% and Turned Its Best Q2 Profit EverAug 19
- HOOD Q2 2022 Why Did the Balance Sheet Suddenly Grow $4.8 Billion Without a Dollar of Real Growth?Aug 18
- DASH Q2 2022 The Wolt Deal Finally Closed at Less Than Half Its Announced Price - Here's WhyAug 15
- NU Q2 2022 Revenue Tripled Again. Adjusted Profit Grew Just 3%. The Stock Fell Below $4 Anyway.Aug 15
- SOFI Q2 2022 Deposits Doubled, Debt Fell - The Stock Fell Further StillAug 15
- CPNG Q2 2022 The First Positive Adjusted EBITDA Quarter Has an AsteriskAug 11
- IDEA Q2 2022 Revenue Hit a Post-Merger High. The Quarterly Loss Still Got Worse.Aug 09
- BBRI Q2 2022 The Capital Ratio Stopped Falling - But Its Own Guidance Still Contradicts ItselfAug 05
- PAYTM Q2 2022 Four Straight Quarters of Margin Gains, and a Loss That's Finally Shrinking TooAug 05
- LYFT Q2 2022 Lyft Grew Adjusted EBITDA 44% Sequentially While the Stock Fell 65% - the Widest Gap Yet Between Operating Results and ValuationAug 04
- BBCA Q2 2022 Did Q1's Provisioning Spike Turn Out to Be Noise After All?Aug 04
- BFIN Q2 2022 How a 5.3% Tender Offer Quietly Handed Trinugraha Majority ControlAug 03
- ARTO Q2 2022 A Seven-Month-Old Unit Earned 6x the Bank's Profit While the Stock Got Cut in HalfAug 02
- ETERNAL Q2 2022 Food Delivery Finally Broke Even - So Why Give Away 7.6% of the Company for Blinkit?Aug 01
- DMART Q2 2022 A 574% Profit Jump That Isn't What It Looks LikeJul 25
- BIRD Q2 2022 The Margin Collapse That Undid Itself In One QuarterJun 30
Q1 2022
- TLKM Q1 2022 Operating Profit Fell 9% - Almost None of It Was the Actual BusinessJul 25
- UBER Q1 2022 Uber Just Reported a $5.9 Billion Loss - and Delivery Turned Its First-Ever Profitable QuarterJun 15
- ISAT Q1 2022 The Merged Indosat's Revenue Jumped 48%, But Profit Fell 25%Jun 08
- GOTO Q1 2022 The first earnings call after Indonesia's biggest IPOMay 30
- SE Q1 2022 Bookings Turned Negative for the First Time Ever — And the Stock Fell 46% Right Alongside ItMay 30
- DMART Q1 2022 Revenue Grew 18%. Profit Barely Moved. Here's Why.May 30
- AMRT Q1 2022 Did the Rights Issue Authorization Just Quietly Expire?May 27
- SOFI Q1 2022 The Bank Charter Went Live - And the Stock Kept Falling AnywayMay 25
- ETERNAL Q1 2022 The Loss Widened 435% This Quarter - So Why Did the Business Actually Get Better?May 23
- PAYTM Q1 2022 A 75% Stock Collapse, and the Quarter Paytm Finally Named a Breakeven DateMay 21
- XYZ Q1 2022 Block's Balance Sheet More Than Doubled the Same Quarter It Swung to an Operating LossMay 20
- HOOD Q1 2022 Revenue Got Cut Nearly in Half - Did Costs Follow Fast Enough to Matter?May 20
- MELI Q1 2022 It Turned Profitable Again - So Why Is Operating Cash Flow Still Negative $233 Million?May 19
- GRAB Q1 2022 Down 51% in a Quarter - Did the Business Get Worse, or Just the Stock?May 19
- DNET Q1 2022 Associate Profit Jumped Eightfold. That Says More About 2021 Than 2022.May 18
- NU Q1 2022 Nu Called Q1 2022 Its Best Quarter Ever. The Stock Fell 18% Anyway.May 16
- LYFT Q1 2022 Lyft's Fourth Straight Profitable-Adjusted-EBITDA Quarter Came With Its Widest Operating Cash Outflow Since the PandemicMay 15
- CPNG Q1 2022 The Two-Segment Split Finally Answers Last Quarter's QuestionMay 10
- DASH Q1 2022 DoorDash's Operating Cash Flow Just Went Negative for the First Time Since Its IPOMay 10
- IDEA Q1 2022 Is This Telecom Already Insolvent on Paper?May 09
- BABA Q1 2022 Net Income Fell 59%, and This Time a One-Time Charge Isn't the ReasonMay 09
- ARTO Q1 2022 A Profitable Quarter, Except the Core Bank Actually Lost MoneyMay 06
- BBRI Q1 2022 Profit Grew 78% - This Time Both Quarters Are Actually ComparableMay 06
- BFIN Q1 2022 Only 5.3% Tendered - What a Failed Buyout Says About the Real PriceMay 05
- BBCA Q1 2022 Restructured-Loan NPLs Rose Again in Q1 2022 - Was Q4's Profit Dip a One-Off?May 05
- BIRD Q1 2022 The Taxi Margin That Didn't Survive Its First EncoreMar 31
Q4 2021
- TLKM Q4 2021 The Segment That Turned a Profit in Q3 Went Back to Losing Money in Q4May 10
- PDD Q4 2021 The First Profitable Year Arrived the Same Year It Promised Away RMB10 Billion of Future ProfitMay 10
- DHER Q4 2021 How Do You Halve a Net Loss While the Business Is Actually Losing More Money?May 05
- ISAT Q4 2021 The Merger Became Effective Four Days After Indosat's Fiscal Year ClosedApr 06
- SOFI Q4 2021 The Bank Charter Closed Right After Posting a $484 Million LossApr 05
- MELI Q4 2021 Turned Profitable for the Year - But Q4 Alone Was a Net LossMar 21
- ARTO Q4 2021 A First Annual Profit, Mostly Manufactured By a Tax CreditMar 18
- XYZ Q4 2021 A First Year Under a New Name Closed With a $13.8 Billion Acquisition DisclosureMar 15
- UBER Q4 2021 Uber's Net Loss Shrank 93% in a Year - Almost None of It From the Business Actually Turning a ProfitMar 10
- HOOD Q4 2021 What Does the First Year as a Public Company Actually Prove?Mar 10
- DASH Q4 2021 DoorDash's Stock Gave Back a Third of Its Value the Same Quarter Adjusted EBITDA Hit a RecordMar 08
- GRAB Q4 2021 A record debut quarter - with a DOJ investigation left out of the deckMar 03
- SE Q4 2021 Full-Year Adjusted EBITDA Turned Negative for the First Time Ever — Right as Its Own Guidance Points to a Shrinking GarenaMar 01
- LYFT Q4 2021 Lyft Closed 2021 With Its First Full Year of Positive Adjusted EBITDA - While an Alameda Court Ruled Proposition 22 UnenforceableMar 01
- NU Q4 2021 Turning 'Profitable' by Excluding a Quarter-Billion in Stock CompFeb 22
- ETERNAL Q4 2021 Down 85% Quarter-on-Quarter - But Was the Loss Actually Shrinking?Feb 10
- BBRI Q4 2021 Profit Jumped 74% in One Quarter - Was Any of That Actually Organic?Feb 08
- BFIN Q4 2021 The Cure Rate Fell for a Third Straight Quarter - Then the Controlling Shareholder Made Its MoveFeb 08
- CPNG Q4 2021 Active Customers Bounced Back — So Why Did the Full-Year Loss More Than Triple?Feb 07
- BBCA Q4 2021 Coverage Ratio Improved in Q4 - So Why Did Restructured-Loan NPLs Double?Feb 07
- PAYTM Q4 2021 A Record Growth Quarter, and the Widest Loss Since Going PublicFeb 04
- MEITUAN Q4 2021 A $6 Billion Grocery Bet Hiding Inside Two Profitable BusinessesFeb 03
- DNET Q4 2021 Net Income Tripled. The Stock Fell Anyway.Feb 03
- AMRT Q4 2021 Why Did It Take a Year to Learn the Rights Issue Went Nowhere?Jan 31
- DMART Q4 2021 The Festive Quarter Kept Growing. So Did the Skepticism About the Price.Jan 25
- BIRD Q4 2021 Did Reopening Actually Fix Taxi, or Just Pause the Bleeding for One Good Quarter?Dec 31
Q3 2021
- TLKM Q3 2021 The Segment That Lost Money for Six Straight Quarters Just Turned a ProfitJan 18
- UBER Q3 2021 Uber Hit Its First Adjusted EBITDA Profit - While a Single Stock Stake Wiped Out $3.2 Billion on PaperDec 20
- AMRT Q3 2021 Why Did Headcount Drop 14% Right After It Surged 23%?Dec 14
- ISAT Q3 2021 A Nine-Month Rumor Became a Signed Merger Deal With CK HutchisonDec 08
- SE Q3 2021 Adjusted EBITDA Went Negative Again — This Time, It Wasn't an Accounting IllusionNov 30
- MELI Q3 2021 Both Brazilian Tax Defenses Just Lost Round One - Where's the Reserve?Nov 28
- PAYTM Q3 2021 A 592% Jump in Contribution Profit, and a Loss That Grew AnywayNov 27