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    Daniel Hibshman

    Senior Research Analyst at Craig-Hallum Capital Group LLC

    Daniel Hibshman is a Senior Research Analyst at Craig-Hallum Capital Group LLC, specializing in coverage of technology and software sectors with a concentrated focus on companies such as Rapid7, Tenable, Qualys, and SailPoint Technologies. He is recognized for his thorough analyses, which have contributed to a solid positive track record, garnering a success rate around 59% with average returns of over 7% per rating as measured on TipRanks. Hibshman began his career at Jefferies as an Equity Research Associate, later moving to Robert W. Baird before joining Craig-Hallum in 2016, and has since built a strong reputation for identifying emerging growth stories in cybersecurity and cloud software. He maintains professional credentials including FINRA Series 7, 63, 86, and 87 licenses.

    Daniel Hibshman's questions to AKAMAI TECHNOLOGIES (AKAM) leadership

    Daniel Hibshman's questions to AKAMAI TECHNOLOGIES (AKAM) leadership • Q2 2025

    Question

    On behalf of Jeff Van Rhee, Daniel Hibshman noted the unusual strength of two consecutive quarters of sequential growth in the Delivery business and asked if this was driven by one-time factors or the Edgeio acquisition.

    Answer

    CFO Ed McGowan clarified that the performance was not due to a one-time item from Edgeio, as traffic was migrated quickly in Q1. He attributed the strength to a healthier market, with better-than-expected traffic growth in video and software downloads, combined with a moderating rate of price decline.

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    Daniel Hibshman's questions to BlackSky Technology (BKSY) leadership

    Daniel Hibshman's questions to BlackSky Technology (BKSY) leadership • Q2 2025

    Question

    Daniel Hibshman of Craig-Hallum Capital Group LLC asked for clarification on how Gen 3 early access programs differ from full-scale contracts and sought details on the significance of the LUNO A task order win, its scale relative to others, and the outlook for future LUNO opportunities.

    Answer

    CEO Brian O’Toole described early access programs as smaller, initial contracts that allow customers to assess Gen 3 imagery through the Spectra platform without a full service level agreement. These typically transition to longer, multi-year contracts as more satellite capacity becomes available. Regarding the LUNO win, O'Toole confirmed it is the largest task order awarded under the new vehicle, representing a positive trend toward multi-year, recurring revenue for BlackSky's high-margin analytics services.

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    Daniel Hibshman's questions to BlackSky Technology (BKSY) leadership • Q4 2024

    Question

    Daniel Hibshman inquired about the implications of the rapid Gen-3 satellite commissioning, the specifics of its performance exceeding expectations, and whether the 2025 CapEx guidance reflects an accelerated launch plan. He also asked for clarification on the roadmap for inter-satellite links and the status of the Luno A contract ramp.

    Answer

    CEO Brian O'Toole explained that the fast commissioning (5 days to first image) is a testament to BlackSky's mature architecture, with image quality already exceptional and set to improve. He confirmed the next Gen-3 launch is planned for Q2. CFO Henry Dubois and CEO Brian O'Toole clarified that the CapEx plan was not an acceleration but aligns with the long-standing goal of deploying 8 Gen-3 satellites by Q1 2026. O'Toole added that optical inter-satellite links are being explored for a future Gen-3 tranche and that the Luno A contract is in early stages but showing positive signs with initial task orders.

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    Daniel Hibshman's questions to Fastly (FSLY) leadership

    Daniel Hibshman's questions to Fastly (FSLY) leadership • Q2 2025

    Question

    Daniel Hibshman from Craig-Hallum asked CEO Kip Compton to expand on his strategic priorities, specifically the meaning of 'product velocity' and the accelerated path to profitability. He also asked CFO Ron Kisling to detail the mechanics behind the improved free cash flow guidance and whether those drivers are sustainable.

    Answer

    CEO Kip Compton defined 'product velocity' as increasing the pace of new product and feature releases to meet customer demand, citing a new WAF feature as an example. On profitability, he stressed a focus on efficient investment to drive growth. CFO Ron Kisling explained that the improved free cash flow stems from sustainable operational improvements, including more disciplined payment terms, better cash collection processes, and efficient cash management across the purchasing team.

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    Daniel Hibshman's questions to PROS Holdings (PRO) leadership

    Daniel Hibshman's questions to PROS Holdings (PRO) leadership • Q2 2025

    Question

    Daniel Hibshman asked new CEO Jeff Cotten to elaborate on his go-to-market philosophy and also requested commentary on the relative performance of the B2B and travel segments over the last 90 days.

    Answer

    President & CEO Jeff Cotten described his go-to-market approach as building a 'conveyor belt' for demand by meticulously analyzing and measuring each channel, from marketing campaigns to partner leads, all the way down to bookings. CFO Stefan Schultz added that the company was pleased with the performance of both segments, noting that B2B remains strong and the airline business continues to strengthen.

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    Daniel Hibshman's questions to SPS COMMERCE (SPSC) leadership

    Daniel Hibshman's questions to SPS COMMERCE (SPSC) leadership • Q2 2025

    Question

    Daniel Hibshman of Craig-Hallum Capital Group LLC asked for confirmation that the Q2 customer additions were organic after the Carbon6 acquisition and questioned whether mid-term growth would be driven more by connection growth or by cross-selling products.

    Answer

    CFO Kim Nelson confirmed the Q2 customer adds were organic, as the Carbon6 acquisition was fully reflected in Q1. CEO Chad Collins explained that while both are important, the largest opportunity for ARPU expansion remains upselling more network connections to existing fulfillment customers, with cross-selling being a secondary driver.

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    Daniel Hibshman's questions to PagerDuty (PD) leadership

    Daniel Hibshman's questions to PagerDuty (PD) leadership • Q1 2026

    Question

    Daniel Hibshman from Craig-Hallum Capital Group asked about the drivers behind the upward revision to the profitability guidance. He also sought to clarify the message of decelerating revenue growth in the back half of the year despite expectations for operational improvements.

    Answer

    CFO Howard Wilson attributed the higher profitability guide to a long-term, programmatic focus on efficiency, particularly in sales and marketing, as part of the path to GAAP profitability. He clarified that expected improvements in second-half bookings will primarily benefit revenue in the next fiscal year due to subscription revenue recognition rules, explaining the apparent disconnect.

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    Daniel Hibshman's questions to Cerence (CRNC) leadership

    Daniel Hibshman's questions to Cerence (CRNC) leadership • Q2 2025

    Question

    Daniel Hibshman of Craig-Hallum Capital Group inquired about the conflicting signals from decelerating billings and accelerating connected car rates, the sustainability of the sequential jump in new connected revenue, the specific impact of AI on revenue streams, and where macroeconomic pressures would most likely appear.

    Answer

    Executive Brian Krzanich explained that while overall volumes are stable, the higher connected car rate is a positive leading indicator for future recurring revenue. CFO Antonio Rodriquez confirmed the connected revenue growth is sustainable, stemming from the amortization of prior billings. Krzanich clarified that AI enhances both embedded and connected products, driving overall voice usage and PPU, not just connected revenue. He also noted that macro pressures would manifest in vehicle volumes and pricing pressure from OEMs, which Cerence aims to counter by offering more value through software consolidation.

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    Daniel Hibshman's questions to Intellicheck (IDN) leadership

    Daniel Hibshman's questions to Intellicheck (IDN) leadership • Q4 2024

    Question

    Daniel Hibshman, on for Jeff Van Rhee, sought to understand the retail volume dynamics from Q3 to Q4, the drivers of the strong sequential revenue growth given retail weakness, and why Q4 results significantly beat prior guidance.

    Answer

    CEO Bryan Lewis clarified that top retailer volumes were actually down 9% year-over-year in Q4. The significant sequential revenue growth was driven by strength in non-retail verticals, particularly automotive, where transaction prices are substantially higher. He attributed the better-than-expected quarter to strong demand across multiple verticals, including automotive and e-mail recovery, validating the company's diversification strategy.

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    Daniel Hibshman's questions to EGAIN (EGAN) leadership

    Daniel Hibshman's questions to EGAIN (EGAN) leadership • Q1 2025

    Question

    Daniel Hibshman of Craig-Hallum Capital Group inquired about recent go-to-market improvements, the magnitude of the year-over-year increase in new bookings, progress on R&D and marketing investments, the company's product evolution toward GenAI, and the reasons for the geographical revenue shift between North America and EMEA.

    Answer

    CEO Ashutosh Roy noted a post-summer pickup in the RFP pipeline and explained that marketing spend is seasonal, while R&D investment is steadily increasing. He positioned the company as advanced on the product front, with go-to-market investment to follow in the second half of the fiscal year. CFO Eric Smit clarified that while bookings improved significantly, it was against a weak prior-year comparable. Both executives attributed the North American revenue dip to the location of two previously disclosed customer losses, not a change in underlying market demand.

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    Daniel Hibshman's questions to Upland Software (UPLD) leadership

    Daniel Hibshman's questions to Upland Software (UPLD) leadership • Q3 2024

    Question

    Daniel Hibshman of Craig-Hallum Capital Group inquired about the sustainability of recent operating expense reductions, the most successful go-to-market strategy changes, and the rationale behind the recent debt paydown and future refinancing plans.

    Answer

    CFO Michael Hill confirmed that costs will continue to decline as Upland removes infrastructure previously needed for a higher M&A rate. He also explained the $177M debt paydown saves approximately $7M in annual interest, with a refinancing planned for 2025. CEO John McDonald added that the company is optimizing growth investments by focusing on successful initiatives. He highlighted modern digital marketing and improved sales team rigor as key drivers of increased lead flow and pipeline conversion, alongside investments in customer success to boost renewal rates.

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