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    Jesse Pytlak

    Research Analyst at Cormark Securities

    Jesse Pytlak is an Analyst of Institutional Equity Research at Cormark Securities, specializing in Special Situations within the Canadian equities market. Since joining Cormark in 2013, he has provided research and analysis on leading cannabis companies such as Canopy Growth, offering influential insights and earning a reputation for his market commentary. Pytlak began his career prior to Cormark at another financial institution and has established himself as a key resource for institutional investors navigating dynamic sectors. He holds the Chartered Financial Analyst (CFA) designation, underscoring his professional credentials and commitment to financial research excellence.

    Jesse Pytlak's questions to CELESTICA (CLS) leadership

    Jesse Pytlak's questions to CELESTICA (CLS) leadership • Q1 2025

    Question

    Jesse Pytlak requested the mix of 400G versus 800G switches in the quarter and pricing trends for 400G. He also asked if the dynamic macro environment was changing the company's approach to M&A.

    Answer

    President and CEO Rob Mionis and CFO Mandeep Chawla explained that for the full year, 800G switches will likely comprise over 50% of the networking business, with 400G having a long tail. On M&A, Mandeep Chawla stated that while the company has a healthy balance sheet and is looking at targets, the current environment is challenging for deal-making, but they remain open to the right strategic deal.

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    Jesse Pytlak's questions to CELESTICA (CLS) leadership • Q3 2024

    Question

    Jesse Pytlak from Cormark Securities inquired about the nature of engagements with emerging "digital native" customers, asking if they typically start with manufacturing before moving to design, similar to the Grok win. He also asked to characterize the spending aggressiveness of this customer group.

    Answer

    Stephen Dorwart, SVP, explained that engagements with digital natives can be both, with some starting with manufacturing on a current product before adding design involvement, while others leverage Celestica's HPS platform solutions from the outset. He noted that a key criterion for partnership is the opportunity for broader design involvement. Regarding spending, Dorwart stated it varies depending on the company's development stage and market traction. An executive added that this customer class shows a greater willingness to leverage Celestica's full value proposition from the start to scale quickly.

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    Jesse Pytlak's questions to iANTHUS CAPITAL HOLDINGS (ITHUF) leadership

    Jesse Pytlak's questions to iANTHUS CAPITAL HOLDINGS (ITHUF) leadership • Q3 2019

    Question

    Jesse Pytlak of Cormark Securities sought clarification on the Massachusetts wholesale dynamics, asking if the Q3 softening was gradual or a direct result of the vape ban. He also requested more details on the CBD For Life distribution agreements and expansion.

    Answer

    CFO Julius Kalcevich described the Massachusetts wholesale dip as a 'kneejerk reaction' in the last two weeks of September when orders were canceled post-ban. He also confirmed the CBD For Life expansion to 2,300 doors and new agreements providing access to 43,000 outlets, crediting the new team and critical logistics improvements from a new 3PL partnership and e-commerce platform.

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    Jesse Pytlak's questions to iANTHUS CAPITAL HOLDINGS (ITHUF) leadership • Q4 2018

    Question

    Jesse Pytlak from Cormark Securities asked for more details on the CBD For Life business, specifically its geographic sales concentration and its supply chain structure, including whether it is involved in hemp cultivation or manufacturing.

    Answer

    CEO Hadley Ford clarified that CBD For Life's sales are concentrated in major cities like New York and LA to build brand awareness efficiently. He explained that the company outsources manufacturing to an FDA-approved cosmetics factory partner in New Jersey, allowing the team to focus on its core strength of brand building. CFO Julius Kalcevich added that current distribution is through wholesalers to specialty retailers and spas, with plans to target larger, well-known retailers in the near future.

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