TECHNOLOGY

Our Technology research platform is focused on those companies building and using technology to drive the modern world. Technology is everywhere, and its impact is only growing. The need for faster communication, a more secure Internet, more connected devices, and more automation is driving many technology companies. With new hardware and software being released every year, the potential for new and exciting technology companies continues to grow. Much of the innovation in technology has historically come from small companies, and we expect this to continue. With the COVID-19 pandemic driving work, home, and transportation changes, technology companies are forming to meet the new demands. Whether its AI, Blockchain, FinTech, Quantum Computing, Autonomous Vehicles, Cryptocurrencies, or 5G, we have the expertise.

Recent Sector Insights

TECHNOLOGY
AdTheorent (NASDAQ: ADTH)
Privacy-Forward AdTheorent Grows 6.5% Y/Y in a Tough Ad Environment
· Update Note · 10 Aug 2022

2Q22 revenue of $42.5 million was up 6.5% Y/Y, partially driven by a 107% increase in CTV revenue, but below consensus of $45.4 million. Adjusted gross profit margin was roughly flat at 66.7%. The company’s number of active customers grew by 15% Y/Y to 331. AdTheorent Health saw good demand, addi...

TECHNOLOGY
Bakkt Holdings, Inc. (NYSE: BKKT)
Fireside Chat: CEO Gavin Michael, August 16, 2022, at 11:00 am EDT
· Fireside Chat Invitation · 08 Aug 2022

Please join us for a conversation with Bakkt CEO Gavin Michael on Tuesday, August 16, 2022, at 11:00 am EDT.

TECHNOLOGY
Cvent Holding Corp (NASDAQ: CVT)
Cvent Beats Even in a Tough Macro; 2Q22 Revenue Up 31% to a Record $161 Million
· Update Note · 05 Aug 2022

2Q22 revenue grew 31.1% Y/Y, 4.4% higher than the high end of guidance, to a record $161 million; consensus was $154 million. CEO & Founder Reggie Aggarwal said that “strong second-quarter growth was driven by a healthier and more dynamic events industry, where in-person events are quickly return...

TECHNOLOGY
Bakkt Holdings, Inc. (NYSE: BKKT)
Connecting the Digital Economy with Major Partners Signed and Strong Revenue Growth Momentum
· Initiation Of Coverage Report · 03 Aug 2022

Bakkt is a digital asset platform B2B2C company with major partners already signed, including Mastercard, Finastra, Wells Fargo, Bank of America, Global Payments, and Fiserv. While the company’s stock has gotten hit with the crypto declines in 1H22, its advantages are significant: (1) a scalable ...

TECHNOLOGY
Cvent Holding Corp (NASDAQ: CVT)
Fireside Chat: CEO and Founder Reggie Aggarwal August 15, 2022, at 1:00 pm EDT
· Fireside Chat Invitation · 02 Aug 2022

Please join us for a conversation with Reggie Aggarwal, CEO and Founder of Cvent, on Monday, August 15, 2022, at 1:00 pm EDT.

TECHNOLOGY
Virgin Orbit, Inc. (NASDAQ: VORB)
Strong 1H22 Points to Future Successes
· Update Note · 28 Jul 2022

With the world’s first air-launched, liquid-fueled launch system, Virgin Orbit is disrupting the satellite launch market and is projected to grow revenues to more than $2 billion by 2026. 1H22 has seen 100% mission success for its two launches—for Spire Global, the US Department of Defense (DoD),...

TECHNOLOGY
Cvent Holding Corp (NASDAQ: CVT)
Cvent’s One Platform for the Total Event Program Approach Validated as Point Solution Peers Stumble and Shrink Significantly
· Update Note · 25 Jul 2022

Three of Cvent’s competitors recently laid off a significant percentage of their employees. Bizzabo laid off 30%, Hopin laid off 29% in June after a 12% cut in February, and Hubilo laid off 12%. These competitors lack Cvent’s all-encompassing platform (powering in-person, virtual (including webin...

TECHNOLOGY
CoinShares International Ltd (OTCQX: CNSRF)
Fireside Chat with CoinShares CEO Jean Marie Mognetti on Navigating the Current Market
· Management Series · 13 Jul 2022

Water Tower Research hosted Jean-Marie Mognetti, Founder and CEO of CoinShares, on July 6, 2022. We looked at CoinShares’ strategy in these challenging times for crypto. The event is available on demand and is open to all investors.

TECHNOLOGY
ProStar Holdings Inc. (OTCMKTS: MAPPF TSXV: MAPS.V)
Is ProStar Recession-Proof Because of Its 10x Cost Savings by Nearly Eliminating Strikes?
· Update Note · 08 Jul 2022

Recession-proof businesses are those that are significantly less sensitive to economic declines. Examples include: (1) industries that provide public works services like utilities, police, and governments; (2) industries that provide essential maintenance or repair services like auto mechanics an...

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