Archive
Welcome to the archive. You can browse the full archive of Recursive Gains articles by month.
Q3 2021
- XYZ Q3 2021 A Swing Back to a Net Loss Landed the Same Quarter Bitcoin Revenue Cooled OffNov 20
- DASH Q3 2021 DoorDash Just Signed an €7 Billion Deal — Does the Balance Sheet Support It?Nov 18
- LYFT Q3 2021 Lyft Turned Cash Flow Positive for the First Time - Helped by a $119 Million Gain From Finally Closing the Toyota DealNov 15
- ETERNAL Q3 2021 Two Months After Its IPO, Already Spending Like a Holding Company?Nov 11
- SOFI Q3 2021 Revenue Keeps Climbing While the Stock Keeps FallingNov 10
- CPNG Q3 2021 Revenue Grew 48% This Quarter — So Why Did the Paying Customer Base Shrink?Nov 08
- HOOD Q3 2021 Did Robinhood's Growth Story Peak the Quarter It Went Public?Nov 04
- DMART Q3 2021 Recovery, Round Two - and This Time Margins Came Back FasterNov 02
- BBRI Q3 2021 Profit Rose Through Indonesia's Deadliest Covid Quarter - But It Still Missed Its Own Credit Cost TargetOct 27
- BFIN Q3 2021 Bad Loans Improved This Quarter - So Why Does the Cure Rate Keep Falling?Oct 25
- BBCA Q3 2021 Did Indonesia's Worst Covid Wave Actually Show Up in the Loan Book?Oct 25
- ARTO Q3 2021 First Profit, First Cracks in a Perfect Loan BookOct 22
- BIRD Q3 2021 Was Indonesia's Delta Wave as Bad as 2020's Lockdown? The Numbers Say NoSep 30
Q2 2021
- TLKM Q2 2021 A 9% Revenue Quarter Turned Into a 26% Profit QuarterNov 03
- UBER Q2 2021 First-Ever Quarterly Profit - But $1.4 Billion of It Came From a Didi Stock Gain, Not the BusinessOct 15
- DHER Q2 2021 Woowa Is Finally in the Numbers. So Is a Restated Two-Year-Old Accounting ErrorSep 20
- ISAT Q2 2021 A Rp6.2 Trillion Tower Sale Made Indosat's Profit Look Ten Times Bigger Than It WasSep 14
- SE Q2 2021 Adjusted EBITDA Turned Negative Again. Here's the One Number That Explains WhyAug 30
- MELI Q2 2021 Why Did Operating Cash Flow Go Negative While Revenue Nearly Doubled?Aug 27
- XYZ Q2 2021 Jay-Z's TIDAL Was Bought the Same Quarter the Bitcoin Bet Turned ProfitableAug 20
- HOOD Q2 2021 The Dogecoin Quarter, and the $87 Million Regulatory Tab Coming DueAug 20
- SOFI Q2 2021 SoFi Finally Has an Operating P&L - And It Lost $165 Million AnywayAug 20
- DASH Q2 2021 Why Is DoorDash Suddenly Losing More Money Than It Did a Year Ago?Aug 19
- LYFT Q2 2021 Lyft Posted Its First-Ever Positive Adjusted EBITDA Quarter - Then Closed the $550 Million Toyota Deal Two Weeks LaterAug 15
- CPNG Q2 2021 A $296 Million Fire Explains Half This Quarter's Loss — What Explains the Rest?Aug 12
- ETERNAL Q2 2021 A Founder's Stock Grant, Almost Exactly the Size of the Quarter's Adjusted LossAug 10
- BBRI Q2 2021 The 180% Profit 'Growth' Is a Trick of the Calendar, Not a TurnaroundAug 06
- BFIN Q2 2021 Higher Write-Offs, Lower Bad-Loan Ratio - Is a Lender Curing Debt or Erasing It?Aug 06
- ARTO Q2 2021 So Close to Breakeven, Except for Its First Related-Party LoansAug 05
- DMART Q2 2021 The Second Wave Hit Harder Than the Headline Growth Number ShowsAug 05
- AMRT Q2 2021 Why Doesn't the Filing Mention the Deal That Sent the Stock Up 39%?Aug 03
- BBCA Q2 2021 Why Did a Record-High Loan Coverage Ratio Suddenly Collapse?Jul 23
- BIRD Q2 2021 Blue Bird's Q2 Revenue 'Doubled' YoY - But the Comparison Quarter Was the Full LockdownJun 30
Q1 2021
- TLKM Q1 2021 Enterprise Is Still Losing Money - But the Loss Is the Smallest in Two YearsAug 02
- UBER Q1 2021 The UK Supreme Court Just Cost Uber $600 Million - And Revenue Would Have Grown Without ItJul 15
- LYFT Q1 2021 Lyft Just Sold Its Self-Driving Unit to Toyota for $550 Million - Weeks After Reporting Its Smallest Quarterly Revenue Since 2017Jul 15
- SOFI Q1 2021 A SPAC Shell Just Restated Its Books and Disclosed a Material Weakness - Right Before Taking SoFi PublicJun 08
- ISAT Q1 2021 A Return to Profit Arrived While a Hutchison Merger Clock Kept TickingJun 02
- SE Q1 2021 Four Straight Profitable Quarters, and This Time No Stock Sale Paid for ItMay 25
- DASH Q1 2021 Is DoorDash Now Paying for the Ballot Measure It Won?May 21
- XYZ Q1 2021 Profitability Returned the Same Quarter Bitcoin Became 69% of RevenueMay 20
- MELI Q1 2021 Stockholders' Equity Just Went Negative - Should That Actually Worry You?May 20
- DMART Q1 2021 Profit Grew Three Times Faster Than Revenue. Is That Sustainable?May 18
- CPNG Q1 2021 Public for Six Weeks, and Already Flagging That Its Own Controls Don't WorkMay 13
- AMRT Q1 2021 Why Did Profit Jump 42% in the Quarter Revenue Fell?May 11
- BABA Q1 2021 Revenue Grew 41%, the Fastest in Three Years, But Operating Income Actually FellMay 08
- BBRI Q1 2021 NPL Coverage Hit 254.8% a Year After Covid-19 First Hit - This Time Without the Accounting BoostMay 06
- BFIN Q1 2021 Is a Rising Cure Rate Measuring Recovery, or Just an Expiry Date?May 05
- BBCA Q1 2021 Is a 280% Coverage Ratio Actually as Safe as It Sounds?Apr 23
- BIRD Q1 2021 One Year After Indonesia's First Covid Quarter, Is Blue Bird's Base Actually Low Enough to Beat?Mar 31
Q4 2020
- DHER Q4 2020 To Buy Korea's Biggest Delivery App, Delivery Hero Had to Sell Its OwnMay 20
- PDD Q4 2020 The Stock Nearly 5x'd in a COVID Year — But the Operating Loss Also Got Wider. Which Number Is Lying?May 15
- TLKM Q4 2020 The Year Revenue Barely Grew and Profit Grew 11% AnywayMay 10
- ARTO Q4 2020 A Loan Book Too New to Have Bad Loans YetApr 21
- UBER Q4 2020 Postmates Closed and Prop 22 Passed This Quarter - Then, After Year-End, Uber Sold Its Self-Driving Unit and Refinanced Its DebtApr 20
- LYFT Q4 2020 Lyft's Stock Nearly Doubled in a Quarter on a Ballot Measure - While Full-Year Revenue Fell 35% and the Adjusted EBITDA Loss WidenedApr 20
- XYZ Q4 2020 A Profitable Year Closed With an Immediate $170 Million Bet on BitcoinApr 05
- ISAT Q4 2020 A Pandemic Year Ends With a Loss, a Satellite Exit, and a Hutchison MoUApr 05
- SOFI Q4 2020 A $6.57 Billion Price Tag, Set Before a Single Share Ever TradedMar 17
- BFIN Q4 2020 Is an 84% Cure Rate Finally Proof the Restructuring Actually Worked?Mar 15
- MELI Q4 2020 Revenue Nearly Doubled in 2020 - So Why Did the Company Barely Break Even?Mar 10
- DASH Q4 2020 A Record IPO Year, Funded in Part by a Ballot Measure It Quietly BankrolledMar 05
- SE Q4 2020 Group Adjusted EBITDA Went Positive for the Full Year. So Did Two Multi-Quarter MysteriesMar 02
- BBCA Q4 2020 The Restructuring Wave Guided Down Twice - Then Still UndershotFeb 08
- DNET Q4 2020 Revenue Nearly Doubled. Net Income Fell 37% Anyway.Feb 08
- BBRI Q4 2020 NPL Coverage Rocketed to a Record 248% in FY2020 - But Corporate Loans Kept Getting WorseFeb 04
- AMRT Q4 2020 After Three Silent Quarters, the Filed Books Finally Mention Covid-19 - and Shrug It OffFeb 03
- DMART Q4 2020 The Festive Quarter That Finally Beat Last YearJan 15
- BIRD Q4 2020 Blue Bird's First Annual Loss Since Its IPO - So Why Did the Stock Rally 51% in Q4?Dec 31
Q3 2020
- LYFT Q3 2020 Lyft's Riders Came Back 44% in a Quarter - So Why Did the Adjusted EBITDA Loss Get Worse?Dec 15
- XYZ Q3 2020 A GAAP Profit Arrived After the Stock Had Already Tripled - Which One Should You Trust?Dec 10
- SOFI Q3 2020 Before There Was a Merger Target, There Was Already a 20% PromoteNov 20
- SE Q3 2020 Group Adjusted EBITDA Hit $120 Million. So Did the Adjusted-Revenue Metric That Used to Track ItNov 17
- MELI Q3 2020 Revenue Doubled in the Pandemic - So Why Are Internal Controls Still Broken?Nov 16
- ISAT Q3 2020 Nine Months Into the Pandemic, Indosat's Loss Is Still WideningNov 16
- TLKM Q3 2020 The Stock Hit a New Low This Quarter - Did the Business Actually Get Worse?Nov 15
- UBER Q3 2020 Mobility Revenue Still Down 53% - Is Uber's Delivery Boom Enough to Carry It Through the Pandemic?Nov 05
- BBRI Q3 2020 A Record Rp9.5 Trillion Was Provisioned in Q3 - So Why Did Coverage Keep Falling?Nov 05
- BFIN Q3 2020 Is Bad Debt Actually Falling, or Just Being Restructured Out of View?Nov 04
- AMRT Q3 2020 Why Did Profit Keep Falling After the Growth Engine Recovered?Nov 03
- BBCA Q3 2020 Is the Earnings Rebound Real, or Did the Restructuring Guidance Just Get Smaller?Nov 01
- DMART Q3 2020 The Recovery Quarter That Still Wasn't a RecoveryOct 13
- BIRD Q3 2020 Q3 2020 Net Revenue Rebounded 51% as PSBB Eased - So Why Did Headcount Keep Falling Faster Than Ever?Sep 30
Q2 2020
- DHER Q2 2020 Orders Doubled in a Pandemic. So Did the Losses. Where's the €3.25 Billion Going?Sep 15
- XYZ Q2 2020 A New Segment Split Reveals Two Businesses - and One of Them Is ShrinkingSep 15
- LYFT Q2 2020 Did COVID-19 Just Break Lyft's Margin Streak? Revenue Fell 61% and Contribution Margin Gave Back Five Quarters of GainsSep 15
- BBCA Q2 2020 Why Did Net Profit Fall Even as Restructuring Stayed 'Current'?Aug 31
- MELI Q2 2020 Every Segment Got More Profitable During Lockdown - Even Mexico, for the First Time EverAug 24
- ISAT Q2 2020 Revenue Kept Growing Through Indonesia's First COVID-19 Lockdown QuarterAug 24
- TLKM Q2 2020 Revenue Fell for the First Time in a Real Lockdown Quarter - So Why Did Margins Improve?Aug 20
- SE Q2 2020 Sea Turned Adjusted EBITDA Positive for the First Time. The Stock Got There FirstAug 18
- BBRI Q2 2020 Did the Capital 'Recovery' Just Mean Easing Off on Provisioning?Aug 14
- UBER Q2 2020 Mobility Revenue Collapsed 67% - So Uber Took a $382M Restructuring Charge, Killed JUMP, and Agreed to Buy PostmatesAug 10
- BFIN Q2 2020 Why Did Profit Halve While the Cash Pile Nearly Doubled?Aug 05
- AMRT Q2 2020 Why Did the Fastest-Growing Region Suddenly Stop Growing?Aug 04
- DMART Q2 2020 Revenue Fell 33%. The Stock Rose Anyway.Jul 08
- BIRD Q2 2020 Net Revenue Fell 71.6% Once Jakarta's Lockdown Actually Hit - and Management Finally Cut Its Own PayJun 30