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    Adhir Kadve

    Principal and Technology Equity Research Analyst at Eight Capital

    Adhir Kadve is a Principal and Technology Equity Research Analyst at Eight Capital, specializing in technology sector coverage with a focus on companies such as Playmaker Capital and others listed on the Toronto Stock Exchange. He has covered at least 12 different stocks, achieving a 45% success rate and an average return per transaction of 22.9%, as tracked by TipRanks. Kadve joined Eight Capital in 2021 and served there until 2025, following the completion of his MBA from the Rotman School of Management in 2017 and an undergraduate degree from York University in 2008. His credentials include advanced equity research experience and a recognized performance ranking among Canadian technology sector analysts.

    Adhir Kadve's questions to Xtract One Technologies (XTRAF) leadership

    Adhir Kadve's questions to Xtract One Technologies (XTRAF) leadership • Q1 2025

    Question

    Adhir Kadve of Eight Capital inquired about the nature of the deal delays experienced in the quarter, asking when the associated revenue might be recognized. He also sought clarity on the source of management's confidence for the expected revenue ramp-up in the second half of the year, questioning the respective contributions from the SmartGateway and the new One Gateway products.

    Answer

    CEO Peter Evans responded, clarifying that the Q1 deal delays were not systemic but resulted from a few specific customer situations, such as lease negotiations or internal deployment planning by large organizations. He stated these deals are not lost and are still being actively worked on. Evans attributed the confidence in future growth to strong interest and a robust pipeline for both the SmartGateway and the new One Gateway, highlighting that rigorous, line-by-line pipeline analysis provides detailed visibility into future bookings.

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    Adhir Kadve's questions to WELL Health Technologies (WHTCF) leadership

    Adhir Kadve's questions to WELL Health Technologies (WHTCF) leadership • Q3 2024

    Question

    Adhir Kadve inquired about the composition of the M&A pipeline, specifically the distribution between the absorption model, primary care acquisitions, and diagnostics. He also asked for drivers of Circle Medical's accelerated growth and color on its expected Q4 "cooling off."

    Answer

    Hamed Shahbazi, Chairman and CEO, explained that the over $100 million pipeline is balanced across Canadian clinics, technology (WPS), and CRH, and is not expected to be margin-dilutive. He attributed Circle Medical's growth to its significant technology advantage and its model of converting single-need patients into long-term family practice patients. Shahbazi clarified the Q4 slowdown is temporary, related to the growth team retooling software and workflows to support compliance requirements.

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    Adhir Kadve's questions to Mogo (MOGO) leadership

    Adhir Kadve's questions to Mogo (MOGO) leadership • Q2 2024

    Question

    Adhir Kadve of Eight Capital inquired about Mogo's recent achievement of positive cash flow, the outlook for cash management, and the individual growth strategies for the wealth and payments businesses for the remainder of the year. He also sought clarification on the Average Revenue Per User (ARPU) for the wealth product.

    Answer

    President and CFO Gregory Feller confirmed that positive cash flow from operations allows the company to self-fund investments while maintaining a flat loan book. He detailed that the payments business will see continued growth and future cost savings from a cloud migration, while CEO David Feller explained the wealth strategy focuses on product improvements to drive word-of-mouth referrals and strategic partnerships with Postmedia and Tom Lee to build brand credibility. David Feller also clarified that the wealth product ARPU is $180, compared to a $25 average ARPU across all members, indicating a significant monetization opportunity.

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    Adhir Kadve's questions to OPEN TEXT (OTEX) leadership

    Adhir Kadve's questions to OPEN TEXT (OTEX) leadership • Q4 2024

    Question

    Adhir Kadve inquired about how the sales approach has been adapted for the uncertain macro environment and asked about the main gating factors preventing customers from moving beyond AI pilots to full-scale deployments.

    Answer

    President, Worldwide Sales Todd Cione explained the approach is focused on 'excellence at the basics' and leveraging internal AI to boost sales efficiency. President and Chief Customer Officer Paul Duggan added that a key adjustment is building up professional services talent for AI to act as a differentiator. CEO Mark J. Barrenechea noted a key dynamic with AI is that customers are using it to tackle very large, complex problems, which inherently requires more significant investment and planning compared to smaller projects, rather than there being a specific gating factor.

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