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    Jason Tilchen • Canaccord Genuity

    Jason Tilchen's questions to SGHC Ltd (SGHC) leadership

    Jason Tilchen's questions to SGHC Ltd (SGHC) leadership • Q2 2025

    Question

    Jason Tilchen of Canaccord Genuity Inc. asked about the new marketing channels driving strong returns, the impact of the Williams F1 sponsorship, and the drivers behind the improved 14% sportsbook hold, questioning the split between favorable outcomes and structural product improvements.

    Answer

    CEO Neal Menashe stated that marketing success comes from reallocating budget to efficient channels like content, with the F1 deal driving traffic. He noted that the improved sportsbook margin is a result of both favorable sports results and structural enhancements like the 'Bet Builder' parlay product. He emphasized that as revenue scales, the company's operating leverage significantly improves profitability.

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    Jason Tilchen's questions to SGHC Ltd (SGHC) leadership • Q1 2025

    Question

    Jason Tilchen of Canaccord Genuity Group Inc. asked about the future growth drivers in Africa, questioning the balance between existing and new markets. He also sought details on Nigeria's competitive landscape and the company's strategy there, and inquired about what makes the Jackpot City brand so successful.

    Answer

    CEO Neal Menashe explained that Africa's growth comes from continuous product, banking, and marketing tweaks in existing markets, plus the launch of Jackpot City in select countries. He noted new markets are added only when metrics like taxes and banking are favorable. For Nigeria, he stated the product needs more localization to improve traction. Menashe differentiated Jackpot City as a pure-play casino brand that resonates with a different customer segment than the sports-first Betway user, a strategy now being applied successfully in more countries.

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    Jason Tilchen's questions to SGHC Ltd (SGHC) leadership • Q4 2024

    Question

    Jason Tilchen from Canaccord Genuity inquired about the drivers of growth in key markets, specifically asking to what extent it comes from underlying market growth versus share gains. He also requested more detail on the opportunity and investment timeline in African markets.

    Answer

    Executive Neal Menashe explained that growth is primarily driven by existing, focused markets like those in Africa, Europe, Canada, and New Zealand, rather than new market entries. He emphasized a strategy of closing markets without a clear path to profitability, citing Brazil as a market they chose not to enter. Executive Alinda Van Wyk added that the sustained marketing spend is crucial for increasing market share within these specific focus regions.

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    Jason Tilchen's questions to Stride Inc (LRN) leadership

    Jason Tilchen's questions to Stride Inc (LRN) leadership • Q4 2025

    Question

    Jason Tilchen of Canaccord Genuity Inc. asked for details on the investments causing the forecasted slower pace of gross margin expansion in FY26. He also inquired about the recent stabilization in the adult learning business and the demand environment for those platforms.

    Answer

    CEO James Rhyu identified a significant investment in high-dosage tutoring for all second and third graders as a key factor for the moderating gross margin expansion. CFO Donna Blackman also mentioned investments in the K-12 Zone engagement platform. Regarding adult learning, Rhyu candidly called its performance a 'miss' and a 'disappointment,' particularly on the technology side, but stated the company is focused on improving execution and is not looking to sell the business.

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    Jason Tilchen's questions to Stride Inc (LRN) leadership • Q3 2025

    Question

    Jason Tilchen inquired about Stride's progress in developing a distinct marketing funnel for its career learning programs and asked about the company's initiatives to enhance socialization opportunities for students in full-time online settings.

    Answer

    CEO James Rhyu acknowledged that Stride has not yet 'cracked the code' on a separate career learning marketing funnel but continues to test new approaches. Regarding socialization, Rhyu detailed a dual strategy involving a virtual platform called 'K-12 zone' which is seeing record usage, and the rollout of in-person, geographically-based 'pods' for student meet-ups, which has received very positive family feedback.

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    Jason Tilchen's questions to Stride Inc (LRN) leadership • Q2 2025

    Question

    Jason Tilchen inquired about the drivers of Stride's enrollment momentum, specifically the differences between Career Learning and General Education funnels and the balance between new enrollment and retention. He also asked for early learnings from the new K-12 tutoring platform.

    Answer

    CEO James Rhyu explained that enrollment strength is broad-based and continues a multi-year trend, though the incremental career learning funnel has been weaker than expected. Regarding tutoring, Rhyu positioned it as a strategically important, long-term investment that will be financially immaterial in the short term due to net revenue accounting. He highlighted its benefits for teacher income and student outcomes.

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    Jason Tilchen's questions to Stride Inc (LRN) leadership • Q1 2025

    Question

    Jason Tilchen asked about the specific drivers behind the record enrollment growth, questioning if it was tied to certain states, use cases, or marketing, and inquired about the potential impact of the upcoming election on school choice and funding.

    Answer

    CEO James Rhyu attributed the momentum to broad-based organic demand and strong word-of-mouth, noting that flat SG&A spending implied a lower customer acquisition cost. Regarding the election, Rhyu stated that education should be a bipartisan, customer-focused issue and avoided speculating on political outcomes.

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    Jason Tilchen's questions to Sportradar Group AG (SRAD) leadership

    Jason Tilchen's questions to Sportradar Group AG (SRAD) leadership • Q2 2025

    Question

    Jason Tilchen asked for details on the strong revenue growth in Managed Betting Services (MTS), the impact of new customer cohorts, and the outlook for moving more clients to this higher-value product. He also inquired about discussions with media companies on fan engagement solutions.

    Answer

    CEO Carsten Koerl confirmed a strong pipeline for MTS, with 50 clients onboarded in 2024 and 42 more in integration, driven by operators focusing on marketing and outsourcing trading. He noted that the opportunity with media companies is meaningful, as they seek to acquire customers from the betting space, positioning Sportradar as a key partner to connect the sports, media, and betting ecosystems.

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    Jason Tilchen's questions to Sportradar Group AG (SRAD) leadership • Q1 2025

    Question

    Jason Tilchen inquired about the roadmap for expanding computer vision data capture beyond the current 50% of events and asked for examples of how the additional data points are being monetized beyond live pricing models.

    Answer

    CEO Carsten Koerl stated the goal is to automate around 90% of events with computer vision, as 100% is not practical. He explained that the thousands of additional data points are used to drive player markets, visualizations, and entertainment, which creates more sophisticated products and improves predictive models for clients.

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    Jason Tilchen's questions to Udemy Inc (UDMY) leadership

    Jason Tilchen's questions to Udemy Inc (UDMY) leadership • Q2 2025

    Question

    Jason Tilchen of Canaccord Genuity asked about customer response to the new AI Readiness and Growth packages and when these offerings might materially impact revenue per enterprise customer.

    Answer

    CEO Hugo Sarrazin described the customer reception as "overwhelmingly positive," noting the new AI SKUs already represent 25% of the overall sales pipeline and are expected to be a meaningful contributor by year-end. He highlighted that this new packaging muscle will be applied to create more sophisticated offerings for both enterprise and consumer segments in the future.

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    Jason Tilchen's questions to Udemy Inc (UDMY) leadership • Q1 2025

    Question

    Jason Tilchen from Canaccord Genuity inquired about how conversations with enterprise customers, both in the pipeline and for expansion, have evolved over the past few months.

    Answer

    CEO Hugo Sarrazin outlined three key trends in customer conversations: 1) market uncertainty is elongating sales cycles; 2) customers are increasingly focused on vendor consolidation, which he views as an opportunity for Udemy; and 3) there is a greater demand for demonstrable ROI, where Udemy can show value through metrics like improved employee retention. He also noted a strong demand for AI fluency training across entire organizations.

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    Jason Tilchen's questions to Udemy Inc (UDMY) leadership • Q4 2024

    Question

    Jason Tilchen asked about the evolution of conversations with existing enterprise customers, their interest in soft skills content, and the investment required to build out new AI-powered roleplay simulations.

    Answer

    CEO Greg Brown reported positive signals from large enterprise customers, noting a strong Q4 for large deals and improving win rates. CTO Eren Bali clarified that developing the new roleplay simulations would not require new resources but rather a reorientation of the existing R&D team's priorities.

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