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    Ashok Kumar

    Research Analyst at ThinkEquity

    Ashok Kumar is the Head of Equity Research at ThinkEquity, specializing in technology and healthcare sector analysis and providing coverage on companies including IperionX and various technology stocks. With over 27 years of experience, Kumar has issued research and ratings across a wide range of tech companies, though recent performance metrics on TipRanks report a 42.59% success rate and an average return of -6.70%. He began his career in engineering and marketing at Intel Corporation before moving into senior research roles at Raymond James, Piper Jaffray, Prudential Securities, and several boutique firms, joining ThinkEquity in 2018. Kumar holds a Bachelor’s degree in Engineering from the Indian Institute of Technology, a Master’s in Electrical Engineering from Purdue University, and an MBA from the Wharton School, and was named one of Smart Magazine’s 30 Most Influential People in Investing in 2000.

    Ashok Kumar's questions to Red Cat Holdings (RCAT) leadership

    Ashok Kumar's questions to Red Cat Holdings (RCAT) leadership • Q1 2025

    Question

    Ashok Kumar asked about the key milestones needed to achieve the 2025 revenue guidance, the expected revenue from the new USV maritime division, the company's competitive differentiation, the status of the Russell 2000 inclusion, margin improvements from the Palantir partnership, factory production capacity, and the company's liquidity and cash burn rate following its recent capital raise.

    Answer

    CEO Jeffrey Thompson confirmed Red Cat expects to be included in the Russell 2000 reconstitution. He detailed the USV strategy, which involves partnering with experienced boat builders and leveraging a proven tech stack, contrasting it with competitors' 'Silicon Valley model'. He anticipates minimal USV revenue in 2025 but highlighted a strong competitive position for the Indo-Pacific region. Thompson noted that production is now ramping for both FlightWave and Black Widow drones, which will improve financials. He also affirmed the company is well-financed with the recent $30 million raise, positioning them to focus on execution.

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    Ashok Kumar's questions to Red Cat Holdings (RCAT) leadership • Q2 2025

    Question

    Ashok Kumar asked for specifics on the potential revenue per drone from the Palantir AI software, the operational timeline for the FlightWave factory, and whether the Palantir software would also be integrated into the Edge 130 drone.

    Answer

    CEO Jeff Thompson stated that while a specific per-drone revenue figure for the Palantir software is not yet available, it will be a high-margin addition. He confirmed the FlightWave factory is being set up, with a preliminary production line expected in 3-4 weeks and a full factory operational in about two months to fulfill existing orders. Thompson also affirmed that after the Black Widow integration is complete, the Palantir software will be integrated into the Edge 130.

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    Ashok Kumar's questions to Red Cat Holdings (RCAT) leadership • Q1 2025

    Question

    Ashok Kumar of ThinkEquity inquired about the composition of Red Cat's record $13 million backlog and asked if the entire backlog is expected to ship within the current calendar year.

    Answer

    Executive Jeffrey Thompson explained that the product mix is a new development for the company, with approximately half of the backlog consisting of the recently acquired FlightWave Edge 130 Blue drone. Thompson stated that the company aims to ship a significant portion of this backlog by the end of the calendar year, acknowledging the operational complexities of transitioning from a fiscal to a calendar year reporting schedule.

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    Ashok Kumar's questions to DarioHealth (DRIO) leadership

    Ashok Kumar's questions to DarioHealth (DRIO) leadership • Q4 2024

    Question

    Ashok Kumar asked two strategic questions: first, about the significance of GLP-1 treatments in DarioHealth's growth strategy, and second, what differentiates the company's business model and financial profile to position it for long-term profitability.

    Answer

    CEO Erez Raphael explained that GLP-1 solutions are a key growth driver, addressing a top employer expense and aligning with the market shift to whole-person care. He highlighted the company's differentiated financial profile, which is focused on profitability through a cost-effective full-suite offering, strong unit economics, and disciplined expense management, including a projected 20% OpEx reduction by Q4 2025. CCO Steven Nelson added that leveraging D2C insights for the B2B2C model and offering a multi-condition platform are key strategic moats.

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    Ashok Kumar's questions to Polar Power (POLA) leadership

    Ashok Kumar's questions to Polar Power (POLA) leadership • Q4 2018

    Question

    Ashok Kumar of ThinkEquity asked about the ideal backlog level for the company, the target for inventory turnover by year-end 2019, expectations for international market contributions, and the timeline for gross margin profitability to normalize to the mid-30s range.

    Answer

    COO Rajesh Masina stated that the ideal backlog would be two months of revenue, equating to approximately $8 million to $10 million. He also affirmed that the company expects to see meaningful results from international markets in the current year without further significant investment. Both COO Rajesh Masina and CFO Luis Zavala confirmed that the target is for gross margins to normalize in the second half of the year, after experiencing pressure in the first half due to ramp-up inefficiencies.

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