Stoic Alonso

🟢What a week for $APR.WA! It is the time to provide an updated free deep dive on what comes next for Auto Partner. A lot of work went into this classic long-form article. I hope you enjoy it :) 🔺Was this an inflection point? 🤔Results were not that good, weren't they? 🔮What does the future hold? 🔗Link in bio

Auto Partner reports 8.2% YoY growth in the month of May, despite major calendar headwinds. 📅May 2026 working days in Poland, Germany, Czech Republic and Slovakia were -4.8%, -10%, -5% and -5% YoY, respectively. 💱EUR/PLN FX was flat YoY during the month of May & CZK/PLN was 2.1% favorable

@AmzDot 171m after subtracting corporate costs. The number you mentioned with corporate costs. I think the can slightly improve that if things go their way or execute further M&A

@stoic_returns What do you think would be their EBITDA for Fiscal 26/27? Im expecting around 180-185 EBITDA on the base case - this is due to the expectation that high margin high growth dominates more.

5 years ago $IDT was melting ice cube, with 100% of its EBITDA coming from a soon-to-be-obsolete business. The EBITDA has doubled over the last 5 years. Today less than half of the EBIDTA comes from that business. Over the next year it will further reduce to 1/3 of total EBITDA. Despite $IDT being a conglomerate of predominantly fast-growing and high-margin tech companies, the market still values $IDT as a company with no terminal value.

@spencebyer @Adj_3bitda Even reading the press release one could tell how bullish they are. As you noted, it is the first time in a while where there is optimism around N2P

@stoic_returns @Adj_3bitda I don’t remember their commentary ever being a medium term bullish on N2P as this call. Seems like holding is the way to go

$IDT not only published great Q3 2026 results. ✅They announced the completion the acquisition of a majority stake on a tuck-in to fix their structural problem with advertisement. 🛫The CEO said this about the potential spin-off of Net2Phone

@AmzDot Much more exciting news than last quarter. I'm happy to see that the NRS ads issue is getting address with major action.

@stoic_returns Sounds more promising than a year ago. Hopefully we get more input next quarter. Good questions during the call Alonso!

$CXDO is. With the same run rate revenue, worse organic growth and worse margins. Recently trading at 3.5x sales. I just think that $IDT has that card to play if the market continues its exhuberance. If valuations normalize, the will just keep printing cash and use it for sensible acquisitions.

@stoic_returns Its not like the public UCaaS stocks are doing that great in order to benefit from relative valuation. Net2phone is not a SW enabled platform player like Bandwidth which is up 4x this year.

@JavierCaballero Muy sabias palabras Javier. No estar 100% invertido en todo momento ha sido uno de los mayores motivos por los que he podido sacar alpha al mercado. Sé que no es una opinión popular, pero para batir al mercado lo primero que tienes que lograr es evitar quedarte sin dinero.

3-6 meses de gastos no es un fondo de emergencia. Es un cronómetro. Si te quedas sin trabajo, encontrar el siguiente puede llevar 6-12 meses o más. Y eso si la economía acompaña. Pregunta a cualquiera que haya pasado por Meta este año o por Banca la última década. Un fondo de emergencia debería ser, al menos, 12-24 meses. Si llega lo peor de verdad: pierdes empleo y crash de mercado al mismo tiempo, no quieres tener que vender en mínimos para pagar la hipoteca. Además, si hay caída fuerte (2008, COVID) y tú sigues generando, parte de ese colchón se convierte en munición: fondo de emergencia y fondo de oportunidad. Ineficiente en el Excel, blindado en la vida real.

@LukeWolgram If they were 1% promotional, they would call this Profit Alert

$APR.WA limit up after Q1 preliminary results. Profits are up 60%, and the Zgorzelec warehouse isn't even fully online yet.

@finphysnerd @LukeWolgram Yes, it still is

@LukeWolgram Good call. Do you think it's still attractive here?

You are still early to hop into the bandwagon 🚀 Auto Partner $APR.WA just posted Q1 2026 preliminary results and is +10% in the session. In the free write-up below is explained: - Why Auto part deflation was going to end - The consequences of the FX shifts - The favorable macro impact - The extend operating leverage was going to kick in

@hainc94 Totally agree. For me that statement was the highlight of the earnings call.

@stoic_returns one of some positive notes from the earnings call was that Zgorzelec, at the time, was only at 20% efficiency. There are lots of space for more shifts and can potentially be 24/7 operationally. It seems to be still early-day on the export bet.

$APR.WA Auto Partner reports 15.6% YoY growth in the month of April, despite major calendar headwinds. This is the first month where new warehouse impact is finally noticeable. 📅April 2026 working days in Poland, Germany, Czech Republic and Slovakia were -4.8%, -10%, -5% and -5% YoY, respectively. 💱EUR/PLN FX was 0.1% unfavorable YoY during the month of April& CZK/PLN was 2.6% favorable

Today its time to celebrate the bagger in just a year of Crexendo $CXDO, despite the SaaSpocalypse. Aggressively went into this great company in the sell-off of early April 2025. The kind of fat pitch one waits for. A management with a proven track record, strong balance sheet and very clear and sustainable long-term growth strategy.

Entiendo tu perspectiva. Dos puntos que explican la mia: 1.Los despidos son consecuencia de la mala gestión de la cadena de suministro y expansión de capacidad por pésima capacidad de forecast. ¿Es esto puntual? ¿Han despedido a las personas que tomaron estas malas decisiones? ¿Qué te garantiza que malas decisiones no se vayan a tomar en el futuro? ¿Qué te garantiza que esas personas que han despedido y plantas que han cerrado ahora no se vayan a necesitar el futuro si la demanda vuelve? Ante un mal mgmt, hay que tener cuidado con que es un one-off y que no lo es. 2. Pongamos que son puntuales y no se van a repetir en el futuro (no es mi visión). ¿Te sumas la inversión en despidos y también te sumas los beneficios de esa inversión? Eso es double counting.

@stoic_returns Debatible. Los ajustes se suelen hacer para eliminar partidas no recurrentes y mantener las que si lo son. los despidos son costes puntuales. Los ahorros de esa mano de obra son permanentes...

Verallia $VRLA $VRLA.PA taking Adjusted EBITDA financial engineering magic to the next level. 🪄 On one end, they add back the restructuring costs associated with the layoffs. 🪄 On the other end, they also add the productivity/utilization gains as a results of those layoffs. 🪄 Double trouble dipping. 🪄 They give you a double YES as an answer. They likely think this is correct.👎👎👎

$IDT IDT's crown jewel, NRS, has officially begun its international expansion. They selectively have chosen Colombia for that, a country where they have strong banking and retailing partnerships. This is the first of more LATAM countries that will come in the near future

@SkyintheSea_x Thank you for the feedback! It was said in Earnings call

@stoic_returns Great job ! Very interesting. Where did you see that the depot is located in Saarbrücken? Thx

🟢What a week for $APR.WA! It is the time to provide an updated free deep dive on what comes next for Auto Partner. A lot of work went into this classic long-form article. I hope you enjoy it :) 🔺Was this an inflection point? 🤔Results were not that good, weren't they? 🔮What does the future hold? 🔗Link in bio

@ahidalgoa Ánimo Antonio. El Aura ring es lo mejor que tienes en el mercado. Ultrahuman ring una version mas económica Que llega bien a todo lo básico. Whoop es más adecuado y capaz para el deporte. Peor para el sueño.

Tengo problemas constantes por mi trabajo de alto estrés, ganancia y pérdida de peso, mal dormir con periodos de alta intensidad y baja… ¿Me recomendáis un whoop? ¿En qué me ayudaría?