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    Joseph Federico

    Vice President and Equity Research Analyst at Stifel

    Joseph Federico is a Vice President and Equity Research Analyst at Stifel, specializing in the coverage of consumer and retail companies within the equity markets. He actively analyzes and provides investment research on specific firms such as Walmart, Target, Home Depot, and other leading retailers, leveraging industry expertise to deliver actionable insights. Federico joined Stifel in the late 2010s, building his professional career at the firm with a focus on retail and consumer market dynamics, and holds FINRA registration with Series 7 and Series 63 securities licenses. His research has contributed to notable investment recommendations, and performance metrics showcase a strong track record in generating competitive returns and maintaining a high success rate within his sector.

    Joseph Federico's questions to Sonendo (SONX) leadership

    Joseph Federico's questions to Sonendo (SONX) leadership • Q2 2024

    Question

    Joseph Federico of Stifel Financial Corp. questioned the drivers of the strong Q2 gross margin, asking why 2025 guidance wasn't raised. He also sought an updated revenue target for achieving cash flow breakeven and clarity on whether new sales incentives were successfully boosting procedure utilization ahead of direct sales.

    Answer

    Executive Bjarne Bergheim and CFO John Bostjancic attributed the gross margin beat to improved G4 reliability and cost controls, setting a new 40-41% target for H2 2024 but deeming it too early to raise 2025 guidance. Bergheim stated there is no new revenue target for cash flow breakeven, instead pointing to a 53% YoY reduction in adjusted EBITDA loss. He confirmed new sales incentives are working, highlighting that customers used 22,500 more PIs than were sold YTD, correcting a prior inventory imbalance and aligning sales with utilization.

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    Joseph Federico's questions to CUTR leadership

    Joseph Federico's questions to CUTR leadership • Q4 2023

    Question

    Speaking on behalf of Jon Block, he asked about the outlook for AviClear's recurring revenue, the status of dormant accounts, learnings from the international launch, and plans for new product introductions in the core business for 2024.

    Answer

    The procedural slowdown in AviClear was attributed to over 55% of the installed base becoming dormant. The company is now focused on helping accounts integrate the system successfully. The international launch is proceeding methodically in about 10 markets with positive initial feedback. A refreshed product platform is planned for launch around mid-2024, but other new product developments are not expected this year.

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