Sign in

    Lucas John Horton

    Vice President and Senior Research Analyst at Northland Capital Markets

    Lucas John Horton is a Vice President and Senior Research Analyst at Northland Capital Markets, specializing in Data Analytics, Advertising Technology, and multi-industry equity research. He primarily covers companies such as Similarweb (SMWB), Semrush Holdings (SEMR), Cardlytics (CDLX), and Lincoln Educational Services (LINC), with a recent reported average return of 12.34% and a success rate of 66.67% across seven published ratings. Horton began his analyst career in 2021 as an Equity Research Associate at Northland Securities, advancing to his current senior role while consistently focusing on growth sectors like technology and communication services. He maintains FINRA registration through Northland Securities, Inc., supporting his professional credentials as a senior equity analyst.

    Lucas John Horton's questions to SIMILARWEB (SMWB) leadership

    Lucas John Horton's questions to SIMILARWEB (SMWB) leadership • Q1 2025

    Question

    Lucas John Horton asked about the timeline for new sales hires to demonstrate results and the levers the company could pull to improve profitability if investments don't perform as expected. He also sought to confirm the FX headwind assumption in the 2025 outlook.

    Answer

    CFO Jason Schwartz stated the company is encouraged by early signs of productivity and expects 80% of new hires to be ramped by Q3. He referenced past actions, like reducing sales and marketing spend from 66% to under 50% of revenue, as proof of their ability to rapidly improve profitability if needed. He also confirmed that FX assumptions in the guidance remain unchanged.

    Ask Fintool Equity Research AI

    Lucas John Horton's questions to SIMILARWEB (SMWB) leadership • Q4 2024

    Question

    Lucas John Horton asked about the drivers behind the sequential decline in gross margin, its expected level for 2025, and the structure of the new Bloomberg customer agreement.

    Answer

    CFO Jason Schwartz attributed the gross margin dip to investments in new data capture for Gen AI and the integration of data from two 2024 acquisitions, expecting it to improve over the year. CEO Or Offer added that the Bloomberg deal involves embedding a portion of Similarweb's data into their alternative data solution, creating exposure and upsell opportunities for Similarweb's advanced offerings.

    Ask Fintool Equity Research AI

    Lucas John Horton's questions to LINCOLN EDUCATIONAL SERVICES (LINC) leadership

    Lucas John Horton's questions to LINCOLN EDUCATIONAL SERVICES (LINC) leadership • Q1 2025

    Question

    Lucas John Horton of Northland Capital Markets asked for clarification on whether potential new campus announcements would be net new locations or relocations. He also inquired about the contribution from the Nashville and Philadelphia relocations baked into the 2025 guidance and Nashville's performance since its March opening.

    Answer

    Executive Scott Shaw confirmed that any forthcoming announcements would be for net new campuses in new or existing markets, not relocations. He stated that the company does not break out financial contributions from individual campuses in its guidance. Regarding the new Nashville campus, Shaw explained that it is too early to assess its full impact, with the most significant benefits expected in 2026 after new programs are launched and a full year of marketing is completed.

    Ask Fintool Equity Research AI

    Lucas John Horton's questions to SEMrush Holdings (SEMR) leadership

    Lucas John Horton's questions to SEMrush Holdings (SEMR) leadership • Q1 2025

    Question

    Lucas John Horton inquired about business trends in April, the pricing and packaging strategy for the new AIO solution, and whether a lower-end version would be available for smaller customers.

    Answer

    CFO Brian Mulroy stated they are not yet seeing any direct impact from macro uncertainty. CEO William Wagner explained that the AIO solution will be sold as both an add-on and a standalone enterprise product. He clarified that the AI Toolkit, starting at $99, serves as the entry-level offering for smaller businesses and has been one of the fastest-growing products in company history.

    Ask Fintool Equity Research AI

    Lucas John Horton's questions to SEMrush Holdings (SEMR) leadership • Q4 2024

    Question

    Lucas John Horton of Northland Capital Markets asked for details on the new AI Optimization (AIO) offering, including its packaging and pricing strategy. He also inquired about the drivers behind the strong enterprise deal momentum in December and the mix of new versus existing customers for the enterprise solution.

    Answer

    CFO Brian Mulroy explained that AIO pricing is in a testing phase, with an initial product priced at $99/month and an enterprise version coming in H1 2025. He attributed the strong Q4 enterprise momentum to maturing investments in product and sales. He also revealed the enterprise customer mix is 60% existing upgrades and 40% new logos, with upgrades driving a significant ARR increase from ~$10k to over $62k on average.

    Ask Fintool Equity Research AI

    Lucas John Horton's questions to Cardlytics (CDLX) leadership

    Lucas John Horton's questions to Cardlytics (CDLX) leadership • Q1 2025

    Question

    Lucas John Horton asked about the economic model for the new Cardlytics Rewards Platform (CRP), questioning its comparability to the FI business, and inquired about any notable differences in the macroeconomic environment between the U.S. and the U.K.

    Answer

    CEO Amit Gupta explained that the CRP will utilize an engagement-based pricing model and that early indications suggest positive economics for both Cardlytics and its partners, though it's too soon for detailed comparisons. Gupta also stated that consumer spending patterns are holding strong in both the U.S. and the U.K., with no significant divergence observed, although some advertisers are adopting a cautious 'wait-and-see' approach with their budgets.

    Ask Fintool Equity Research AI

    Lucas John Horton's questions to Cardlytics (CDLX) leadership • Q4 2024

    Question

    Lucas John Horton inquired about Cardlytics' progress on platform delivery performance, the significance and launch timeline of the new neobank partner, and whether the Q4 operating expense level represents a new run rate for 2025.

    Answer

    CEO Amit Gupta confirmed that platform delivery has seen sequential improvements, with over-delivery issues addressed and under-delivery improving. He emphasized the new neobank partner is a fast-growing fintech that will be fully ramped by the end of Q1 2025. CFO Alexis DeSieno clarified that while 2025 OpEx will remain below $40 million, it will not be as low as Q4's $34 million, projecting a run rate in the mid-to-high $30 million range.

    Ask Fintool Equity Research AI

    Lucas John Horton's questions to Cardlytics (CDLX) leadership • Q3 2024

    Question

    Lucas John Horton from Northland Capital Markets asked about the potential normalized level for revenue as a percentage of billings after delivery issues are resolved. He also inquired about the rollout cadence for the new major U.S. financial institution partner in 2025.

    Answer

    CFO Alexis DeSieno stated that while the company's goal is to increase rewards, she was not prepared to provide 2025 guidance or a long-term target for the revenue-to-billings ratio. Regarding the new bank partner, she confirmed the initial launch is small and will scale over time but declined to provide specific guidance on its 2025 impact, while expressing strong optimism about the partnership.

    Ask Fintool Equity Research AI

    Lucas John Horton's questions to OppFi (OPFI) leadership

    Lucas John Horton's questions to OppFi (OPFI) leadership • Q1 2025

    Question

    Lucas John Horton, on for Mike Grondahl, asked how the second quarter was tracking so far, particularly in April, and what one or two things management is most excited about for the remainder of the year.

    Answer

    CEO Todd Schwartz stated that the positive momentum from Q1 has continued into Q2, with the company on track for significant growth in 2025 by unlocking more marketing channels and effectively targeting lower-risk segments. For the rest of the year, he expressed excitement about executing 'Phase 2' of the company's vision: becoming a multiproduct digital financial platform, unlocking the full earnings potential of the business, and continuing to be a leader in the alternative financial services space.

    Ask Fintool Equity Research AI

    Lucas John Horton's questions to OppFi (OPFI) leadership • Q3 2024

    Question

    Lucas John Horton of Compass Point Research & Trading, LLC inquired about the drivers behind the year-over-year improvement in yields, the company's top priorities for 2025, and the future capital allocation strategy concerning dividends and share repurchases.

    Answer

    Executive Chairman and CEO Todd Schwartz attributed the yield increase to a combination of better credit performance, the retirement of lower risk-based pricing initiatives from the previous year, and new pricing tests. For 2025, he highlighted a focus on growth by finding new volume through different segments and marketing channels, alongside enhancing operational efficiency with AI tools. Regarding capital allocation, Schwartz stated the company is always seeking the highest and best use for its cash, with a special dividend being a consideration for the next year, while also holding capital for strategic M&A opportunities.

    Ask Fintool Equity Research AI

    Lucas John Horton's questions to MITEK SYSTEMS (MITK) leadership

    Lucas John Horton's questions to MITEK SYSTEMS (MITK) leadership • Q2 2025

    Question

    Lucas John Horton, on for Mike Grondahl, asked for a way to quantify the cycle time improvements from the new modernized document onboarding system and inquired about the expected future trend of the SaaS revenue mix.

    Answer

    CEO Edward West described the improvement in document onboarding cycle times as a "meaningful acceleration" that reduces manual work and improves customer experience, noting it has launched in the U.S. and will expand to Europe. Regarding SaaS revenue, West reiterated the goal for it to exceed 50% of total revenue heading into fiscal 2026, driven by growth in fraud and identity products. CFO David Lyle added that these SaaS products have the most growth potential as they are moving from a nascent stage.

    Ask Fintool Equity Research AI