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    Chris Sakai

    Research Analyst at Singular Research

    Chris Sakai is Director of Research at Singular Research and a CFA charterholder, specializing in equity research primarily within the general and industrial sectors. He currently covers companies such as Olympic Steel, maintaining coverage on 15 stocks and a TipRanks success rate of 45.95% with a 2.91-star rating. Sakai’s career began at CitizensTrust as an analyst, followed by five years at One Capital Management before joining Singular Research in 2019, where he has built a recognized presence over six years. He holds a BA in Economics from Claremont McKenna College, a Master of Science from Purdue University, and an MBA from Pepperdine University, and is professionally credentialed with the CFA designation.

    Chris Sakai's questions to QUINSTREET (QNST) leadership

    Chris Sakai's questions to QUINSTREET (QNST) leadership • Q4 2025

    Question

    Chris Sakai from Singular Research questioned the reason for the guided sequential decline in adjusted EBITDA margin from 8.4% in Q4 to approximately 7% in Q1. He also asked for a performance breakdown of financial services verticals beyond auto insurance, such as personal loans and credit cards.

    Answer

    CEO Douglas Valenti attributed the Q1 margin compression to two factors: the ongoing effort for media capacity to catch up with surging auto insurance demand, and aggressive investments to build new media capacity. He positioned the 7% margin as a new baseline for the year. For other financial services, Valenti confirmed all verticals grew year-over-year, noting that personal loans had slower revenue growth due to a strategic focus on margin optimization.

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    Chris Sakai's questions to FLOTEK INDUSTRIES INC/CN/ (FTK) leadership

    Chris Sakai's questions to FLOTEK INDUSTRIES INC/CN/ (FTK) leadership • Q2 2025

    Question

    Chris Sakai of Singular Research asked about the portion of chemistry revenue that is directly tied to data-driven services and how that ratio is expected to evolve.

    Answer

    CEO Ryan Ezell estimated that data-driven processes from their Prescriptive Chemistry Management (PCM) service touch almost 80% of their chemistry business. He explained that the company is at the forefront of converging real-time data with optimized chemistry, using data to adjust chemistry for water quality and to prescribe specific technologies. He expects this integration to continue evolving and driving differentiation.

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    Chris Sakai's questions to CONDUENT (CNDT) leadership

    Chris Sakai's questions to CONDUENT (CNDT) leadership • Q1 2025

    Question

    Chris Sakai inquired about potential regulatory hurdles for AI solutions in sensitive sectors, less obvious macroeconomic effects on the business, and the capital allocation strategy for proceeds from future divestitures.

    Answer

    CEO Clifford Skelton responded that Conduent has not encountered regulatory hurdles with AI, as it's used to augment processes like language translation and fraud detection, not replace people in complex roles. He reiterated the company's insulation from tariffs and noted that key federal funding for state-level Medicaid technology remains untouched. CFO Giles Goodburn added that close client communication helps them stay ahead of any shifts. Regarding capital allocation, Mr. Skelton highlighted the goal of creating a more focused, nimble portfolio, while Mr. Goodburn confirmed the strategy would mirror the first phase: a balanced approach of debt reduction, internal reinvestment in platforms and capacity, and maintaining a strong balance sheet.

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    Chris Sakai's questions to OLYMPIC STEEL (ZEUS) leadership

    Chris Sakai's questions to OLYMPIC STEEL (ZEUS) leadership • Q1 2025

    Question

    Chris Sakai questioned the year-over-year increase in operating expenses for the carbon flat segment and asked how recent tariff discussions are impacting the company's M&A strategy and the competitive landscape for acquisitions.

    Answer

    CFO Richard Manson explained that the rise in operating expenses was primarily due to the Metal works acquisition and costs associated with shipping 6% more volume year-over-year, while same-store expense inflation remains in the low single digits. CEO Rick Marabito stated that tariffs do not directly impact their domestic-focused M&A strategy but do create opportunities for their core fabricating business by encouraging onshoring. He also suggested that tariffs could ultimately increase competition for M&A as other companies may seek to grow more quickly through acquisitions.

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    Chris Sakai's questions to FOSTER L B (FSTR) leadership

    Chris Sakai's questions to FOSTER L B (FSTR) leadership • Q4 2024

    Question

    Chris Sakai from Singular Research asked about the potential impact of new steel tariffs on the company's backlog, the revenue potential for the recovering Protective Coatings business, the rationale for the new $40 million share buyback program, and whether a new multi-year strategic plan would be released.

    Answer

    President and CEO John Kasel stated that the backlog is secure and the company is well-prepared for steel tariffs, drawing on experience from 2017 and strong relationships with domestic mills. He expressed strong optimism for the Protective Coatings business, noting significant hiring to meet demand and reach near-full capacity by April 2025. Kasel explained the $40 million buyback was a balanced figure, reflecting confidence and the cash freed up from the completed Union Pacific settlement. He also confirmed that a new 3-year plan with aspirational goals will be forthcoming.

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    Chris Sakai's questions to FOSTER L B (FSTR) leadership • Q3 2024

    Question

    Chris Sakai of Singular Research inquired about the key drivers for L.B. Foster's 2025 revenue targets and questioned if the high Q3 gross margin of 23.8% was an anomaly or sustainable.

    Answer

    President and CEO John Kasel explained that future revenue growth to meet the $580 million to $620 million target will be driven by organic expansion in its growth platforms, particularly Rail Technologies and Precast Concrete, including a new facility in Florida. Regarding margins, Kasel stated that while Q3 was exceptionally high, it reflects the company's successful strategic transformation. He affirmed that strong margins are expected to continue, aligning with the 2025 goal of 22% to 23%.

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    Chris Sakai's questions to Netcapital (NCPL) leadership

    Chris Sakai's questions to Netcapital (NCPL) leadership • Q2 2025

    Question

    Asked about the key differentiators for Netcapital Securities, the potential for new revenue streams and visibility from the new broker-dealer license, and whether any large deals are in the pipeline.

    Answer

    Netcapital Securities is differentiated by its existing platform and ecosystem of over 115,000 investors. The broker-dealer license opens up new revenue streams from larger Reg A offerings, which allow for percentage-based fees, but no specific forecast was provided. The company confirmed it is in active discussions with companies for larger capital raises.

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    Chris Sakai's questions to Mistras Group (MG) leadership

    Chris Sakai's questions to Mistras Group (MG) leadership • Q3 2024

    Question

    Chris Sakai from Singular Research asked if the higher healthcare claims expense was a one-time event, inquired about the drivers for strong revenue growth in the power generation and industrial sectors, and questioned the outlook for the downstream oil and gas segment in the upcoming year.

    Answer

    Executive Manuel Stamatakis clarified that the higher healthcare expense was due to a couple of very high-cost claimants and that underlying activity was normal. Executive Edward Prajzner attributed the growth in power generation and industrials to robust general manufacturing activity, which he expects to continue with 'GDP plus' growth in 2025. For the downstream segment, Prajzner anticipates another strong year in 2025, similar to 2024, though the timing of turnarounds between the spring and fall seasons might be inverted.

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    Chris Sakai's questions to Silvercrest Asset Management Group (SAMG) leadership

    Chris Sakai's questions to Silvercrest Asset Management Group (SAMG) leadership • Q3 2024

    Question

    Chris Sakai asked if Silvercrest still aims for a long-term adjusted EBITDA margin of 27% and questioned whether the company is hiring new talent at, or above, market rates.

    Answer

    Executive Richard Hough reaffirmed that the long-term adjusted EBITDA margin target is in the upper 20s but reiterated that current margins are being intentionally impacted by investments to fuel the next stage of growth, including in the OCIO team, global equity infrastructure, and a new Atlanta office. On hiring, Hough stated that Silvercrest pays competitive rates and does not need to overpay, attributing its ability to attract top talent to its strong culture, low turnover, and entrepreneurial environment.

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    Chris Sakai's questions to AE leadership

    Chris Sakai's questions to AE leadership • Q4 2023

    Question

    Asked about the outlook for GulfMark's barrels per day and Service Transport's mileage for Q1 and 2024, as well as the capital expenditure plans for the upcoming year.

    Answer

    GulfMark's Q1 volumes are expected to be relatively flat compared to Q4. Service Transport may see lower overall mileage due to a strategic shift to more short-haul business, though load counts are increasing. Capital expenditures for 2024 are projected to be lower than normal because the company will redeploy late-model tractors from the Red River closure, reducing the need for new purchases.

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    Chris Sakai's questions to AE leadership • Q3 2023

    Question

    Inquired about the reasons for the drop in VEX pipeline terminaling volumes, the outlook for capital expenditures in Q4 and 2024, and the status of driver retention at Service Transport.

    Answer

    The drop in VEX terminaling volume was due to lower volumes from GulfMark and two third-party customers, one of whom lost their product supply. The company is working on new business development for the terminal. Q4 CapEx will be minimal, mostly for previously ordered equipment. For 2024, CapEx will also be low, especially for GulfMark and Firebird, due to redeploying assets from the closed Red River operation. Driver retention at Service Transport was strong in Q3, partly because of the slow market limiting other opportunities. The company managed work to retain drivers and is on track to beat last year's turnover rate.

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    Chris Sakai's questions to LGL GROUP (LGL) leadership

    Chris Sakai's questions to LGL GROUP (LGL) leadership • Q4 2019

    Question

    Chris Sakai of Singular Research inquired about the potential revenue impact on the second quarter from the shutdown of the company's operations in India.

    Answer

    Chairman Marc Gabelli, CFO James Tivy, and MtronPTI President Bill Drafts addressed the issue. James Tivy provided a preliminary estimate that the India facility, which handles assembly and testing, touches approximately one-third of consolidated revenues. Marc Gabelli emphasized that the ultimate impact is highly dependent on the duration of the government-mandated lockdown, which was set until April 15. The company is exploring mitigation strategies, including on-shoring production to its Orlando facility and utilizing existing inventory, though on-shoring has cost implications. Bill Drafts added that the impact to Q2 would be manageable if the facility reopens on schedule.

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