Sign in

    Adam Waldo • Lismore Partners, LLC

    Adam Waldo is an Analyst at Lismore Partners LLC, focusing on the industrials and specialty chemicals sectors. He has engaged directly with leadership at public companies such as Ascent Industries and cbdMD, providing incisive analysis and representing institutional investor interests on earnings calls. Waldo joined Lismore Partners prior to 2025, having built his career through investor relations and hands-on research, though detailed prior employer history is not publicly documented. He is recognized for his active role in industry events and investor Q&A sessions, and his professional credentials include proficiency in financial analysis and capital markets, with licensure information not publicly confirmed.

    Adam Waldo's questions to Ascent Industries Co (ACNT) leadership

    Adam Waldo's questions to Ascent Industries Co (ACNT) leadership • Q2 2025

    Question

    Asked about the revenue target required to achieve the 2030 adjusted EBITDA margin goal, the size of the new business pipeline, the status of an executive equity compensation plan, and the company's philosophy on M&A valuation multiples versus share repurchases.

    Answer

    The company can achieve $120M-$130M in revenue with existing assets to reach its 15% adjusted EBITDA margin target. The new business pipeline grew by $25M in the last quarter. Share buybacks were driven by the stock's undervaluation, separate from the equity plan which is being finalized. For M&A, the company targets pre-synergy multiples under 8-9x EBITDA and post-synergy multiples of 6-7x, emphasizing a disciplined approach with smaller deals first.

    Ask Fintool Equity Research AI

    Adam Waldo's questions to Ascent Industries Co (ACNT) leadership • Q2 2025

    Question

    Adam Waldo of Lismore Partners inquired about Ascent's long-term growth strategy, asking about the revenue required to meet the 2030 adjusted EBITDA target, the potential to achieve this within the existing footprint, and the size of the near-term new business pipeline. He also followed up on the status of an executive equity compensation plan and the rationale behind recent share repurchases, as well as the M&A valuation multiples the company would consider.

    Answer

    CEO J. Bryan Kitchen stated that Ascent can reach $120-$130 million in revenue with its current assets, targeting a 15% adjusted EBITDA margin. He noted a recent $25 million increase in the selling project pipeline. Kitchen clarified that the Q2 share buyback was driven by the stock's undervaluation, not an equity plan, and that a broader equity program is being finalized. CFO Ryan Kavalauskas added that for M&A, the company targets assets in the 6-8x EBITDA range, aiming for post-synergy multiples of 6-7x and would not likely pay more than 8-9x pre-synergy.

    Ask Fintool Equity Research AI

    Adam Waldo's questions to cbdMD Inc (YCBD) leadership

    Adam Waldo's questions to cbdMD Inc (YCBD) leadership • Q2 2025

    Question

    Asked about the company's working capital, cash burn, and liquidity runway through fiscal 2026. Also inquired about the types of strategic M&A activities the company finds attractive, and requested specific performance metrics for the new Herbal Oasis product line.

    Answer

    The company reaffirmed its guidance that its liquidity is sufficient through the end of fiscal 2026. For M&A, they are looking for opportunities with cost synergies and new channel access, both inside and outside the cannabinoid space. They noted that Herbal Oasis revenue began at the very end of Q2 and is ramping up in Q3, with lower gross margins than the core business but viewed as an incremental volume play.

    Ask Fintool Equity Research AI

    Adam Waldo's questions to cbdMD Inc (YCBD) leadership • Q2 2025

    Question

    Adam Waldo asked for an update on the company's working capital, cash burn, and liquidity runway, seeking confirmation of the outlook through fiscal 2026. He also questioned which types of M&A the company finds most attractive and requested any available performance metrics for the new Herbal Oasis brand.

    Answer

    CEO and CFO Ronan Kennedy reaffirmed that the company's liquidity runway is sufficient through the end of fiscal 2026, based on current models. Regarding M&A, Kennedy noted they are evaluating opportunities with strong cost synergies, new channel access, or customer acquisition, both within and outside the cannabinoid industry. For Herbal Oasis, he stated that revenue impact was minimal in Q2 but is increasing in Q3, and it is viewed as a volume play with incremental contribution dollars despite having lower gross margins than the core business.

    Ask Fintool Equity Research AI

    Adam Waldo's questions to cbdMD Inc (YCBD) leadership • Q1 2025

    Question

    Adam Waldo inquired about the progress of the Herbal Oasis Social Tonic line, including its prospective revenue, margin structure, and working capital impact. He also asked about its direct-to-consumer margins, whether it generated revenue in the December quarter, the pro forma share count after recent note conversions, and the company's liquidity outlook.

    Answer

    CEO and CFO T. Kennedy acknowledged that while wholesale distribution for Oasis is progressing slower than hoped, it represents incremental revenue, albeit with tighter margins than core products. He confirmed some revenue was booked in the December quarter but did not disclose the amount. Kennedy stated the pro forma share count is just over 6.2 million and reaffirmed the company's strong liquidity position, expecting normal working capital needs in upcoming quarters.

    Ask Fintool Equity Research AI

    Adam Waldo's questions to cbdMD Inc (YCBD) leadership • Q4 2024

    Question

    Adam Waldo of Lismore Partners, LLC inquired about cbdMD's future SG&A expense baseline, the likelihood of achieving positive free cash flow in Q1 2025, the remaining principal on convertible notes, and the potential revenue and margin profile of the new Oasis Social Tonics. He later followed up on the total number of shares issued from note conversions.

    Answer

    CEO Ronan Kennedy clarified that the Q4 SG&A baseline is closer to $3.5 million after adjusting for a one-time gain. While the goal is EBITDA positivity, he noted some working capital cash consumption is expected in Q1. For the new Oasis beverage line, Kennedy highlighted it as an incremental growth opportunity in a rapidly expanding market, though with tighter wholesale margins than legacy products, and declined to provide a specific 2025 revenue target. He also confirmed the remaining note principal is minimal. Regarding share dilution, Kennedy and CFO Bradley Whitford estimated that between 1.6 million and just over 2 million shares have been issued from note conversions to date.

    Ask Fintool Equity Research AI

    Adam Waldo's questions to Data Storage Corp (DTST) leadership

    Adam Waldo's questions to Data Storage Corp (DTST) leadership • Q1 2025

    Question

    Adam Waldo of Lismore Partners inquired about several financial reporting items, including the 10-Q filing date, the latest annual recurring revenue (ARR) run-rate, remaining contract value, and services revenue growth excluding equipment sales. He also pressed management on the specific strategic alternatives being considered to address the stock's valuation disconnect and whether the company would institute formal financial guidance.

    Answer

    CFO Chris Panagiotakos confirmed the 10-Q would be filed that day and reported the new estimated ARR is just over $22 million. While not providing a specific remaining contract value, he noted the total value of existing contracts at signing was over $41 million. CEO Charles Piluso expressed frustration with the stock's valuation and confirmed the board is evaluating all options, such as buybacks or a sale, to enhance shareholder value. Regarding formal guidance, Piluso stated that despite encouragement, the company has been advised against it and is following that advice.

    Ask Fintool Equity Research AI

    Adam Waldo's questions to 180 Degree Capital Corp (TURN) leadership

    Adam Waldo's questions to 180 Degree Capital Corp (TURN) leadership • Q2 2024

    Question

    Adam Waldo inquired about the strategy for value creation at comScore, the investor relations approach at Intevac, and potential governance issues at Hudson.

    Answer

    CEO Kevin Rendino addressed the comScore situation, expressing frustration with the board but highlighting a significant valuation gap and committing to continued pressure. For Intevac, President and Portfolio Manager Daniel Wolfe and CEO Kevin Rendino discussed the company's solid downside protection via its hard disk drive business and cash, with upside from its TRIO platform. They also committed to pressuring Intevac to improve its investor communications. Regarding Hudson, Daniel Wolfe stated there were no governance concerns and noted the new CFO and favorable inventory cost dynamics in 2025 as positives.

    Ask Fintool Equity Research AI