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Lucky Schreiner

stock analyst at D.A. Davidson & Co.

Lucky Schreiner is a stock analyst at D.A. Davidson & Co. specializing in technology sector research, with a primary focus on software companies such as Progress Software, Box, Asana, and monday.com. With a track record that includes a total of 10 ratings, Schreiner's success rate stands at 66.67% and delivers an average return of 1.33% on recommendations, according to independent analyst rankings. Schreiner joined D.A. Davidson prior to 2024 and regularly issues research notes covering infrastructure and application software, adjusting targets based on market dynamics such as demand shifts and search algorithm changes. Schreiner holds industry-standard securities research credentials and is recognized for performance-based coverage in competitive analyst platforms.

Lucky Schreiner's questions to PROGRESS SOFTWARE CORP /MA (PRGS) leadership

Lucky Schreiner's questions to PROGRESS SOFTWARE CORP /MA (PRGS) leadership • Q3 2025

Question

Lucky Schreiner asked about the current M&A environment, specifically which of Progress Software's three categories (application and development platforms, digital experience, infrastructure management) appear most attractive due to AI's impact, and how the ShareFile acquisition has influenced the company's willingness to acquire future SaaS companies.

Answer

President and CEO Yogesh Gupta stated that all three of Progress Software's categories—data platforms, digital experience, and infrastructure management—are becoming more attractive for M&A due to AI's impact. He highlighted data platforms for verifiable GenAI queries, digital experience for dynamic web content and workflow automation, and infrastructure management for automating complex IT environments. Regarding SaaS acquisitions, Gupta noted that the successful ShareFile acquisition, with its high gross margins and the integration of its cloud operations team, has significantly reduced the company's previous hesitancy towards acquiring SaaS businesses, expanding their M&A focus beyond traditional on-premise software.

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Lucky Schreiner's questions to PROGRESS SOFTWARE CORP /MA (PRGS) leadership • Q3 2025

Question

Lucky Schreiner asked about the attractiveness of Progress Software's three M&A categories (application and development platforms, digital experience, infrastructure management) in the current AI-impacted market. He also inquired about the company's increased propensity to acquire SaaS companies following the successful integration of ShareFile.

Answer

CEO Yogesh Gupta explained that AI makes all three M&A categories more interesting: data platforms for verifiable GenAI, digital experiences for dynamic web content and workflow automation (like ShareFile), and infrastructure management for increasing IT complexity. He confirmed that the hesitancy to acquire SaaS companies has significantly reduced post-ShareFile, with the company now actively looking at both SaaS and traditional on-prem targets, provided they meet gross margin requirements.

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Lucky Schreiner's questions to PROGRESS SOFTWARE CORP /MA (PRGS) leadership • Q1 2025

Question

Lucky Schreiner from D.A. Davidson & Co. asked for an explanation of the slight sequential ARR decline and questioned the current revenue contribution from AI initiatives and AI's impact on M&A.

Answer

CFO Anthony Folger attributed the slight ARR dip to normal Q4-to-Q1 seasonality in maintenance renewals, which he expects to rebound. CEO Yogesh Gupta stated that AI-related revenue is still anecdotal and not yet material, and while some AI M&A targets are overvalued, Progress focuses on acquiring AI-enabling assets that fit its strategy.

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Lucky Schreiner's questions to PROGRESS SOFTWARE CORP /MA (PRGS) leadership • Q3 2024

Question

Lucky Schreiner inquired about the potential for cross-selling opportunities between MOVEit and the newly acquired ShareFile, given their similar customer profiles. He also asked for details on ShareFile's average contract length and the nature of its renewal process.

Answer

CEO Yogesh Gupta stated that the company's financial model for the acquisition conservatively assumes no cross-sell revenue, emphasizing that such synergies are difficult to achieve, though they will monitor for opportunities. Regarding contracts, Gupta and CFO Anthony Folger explained that ShareFile's contracts are predominantly annual, with a mix of monthly and annual billing cycles and auto-renewals, which avoids the lumpiness seen in other products.

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Lucky Schreiner's questions to BOX (BOX) leadership

Lucky Schreiner's questions to BOX (BOX) leadership • Q2 2026

Question

Lucky Schreiner asked about the factors driving the recent material contribution from net seat growth. He also questioned the frequency of customers upgrading directly to Enterprise Advanced from non-suite plans and the typical pricing uplift for such deals.

Answer

CFO Dylan Smith confirmed that the rebound in net seat growth is a direct result of Enterprise Advanced and Enterprise Plus opening up high-value use cases for more users and departments. He noted that for customers upgrading directly from non-suite plans to Enterprise Advanced, the pricing uplift is roughly a doubling of their previous cost, and the company has been pleased with the momentum of these direct upgrades so early in the product's lifecycle.

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Lucky Schreiner's questions to BOX (BOX) leadership • Q1 2026

Question

Lucky Schreiner from D.A. Davidson asked how Box's platform innovation is affecting its ability to win against legacy ECM providers and about the company's market awareness. He also inquired about any notable industry-specific trends in customer wins and expansions.

Answer

CEO Aaron Levie highlighted that AI is driving more customers to migrate from legacy systems, citing momentum with partners like DataBank and Slalom. He noted that Box's brand awareness is growing due to its central role in the AI ecosystem, with numerous partner announcements. He added that Box continues to see strength in regulated industries like life sciences, finance, and healthcare, where security and compliance are paramount for AI adoption.

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Lucky Schreiner's questions to BOX (BOX) leadership • Q4 2025

Question

Lucky Schreiner questioned the implied back-end weighted seasonality in the fiscal 2026 revenue guidance and asked if top-of-funnel interest for new solutions is primarily from new or existing customers.

Answer

CFO Dylan Smith clarified that Q1 revenue growth appears lower due to a 120 basis point headwind from the leap year in FY25, but he expects a gradual acceleration throughout the year as investments gain traction. CEO Aaron Levie added that while early Enterprise Advanced demand is heavily weighted to existing customers, AI is 'expanding the aperture' of Box's potential customer base to new audiences like Chief Data Officers.

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Lucky Schreiner's questions to Asana (ASAN) leadership

Lucky Schreiner's questions to Asana (ASAN) leadership • Q1 2026

Question

Lucky Schreiner of D.A. Davidson asked about consolidation trends in the work management space, referencing a customer example where AI Studio turned a potential seat reduction into an expansion. He inquired if AI Studio could be a catalyst for larger customers to consolidate their workflows onto the Asana platform.

Answer

COO & Head of Business Anne Raimondi agreed that AI Studio presents a consolidation opportunity. She explained that customers can replace point solutions for tasks like translation or intake with more robust workflows on Asana. The benefits of consolidating on Asana include data reliability from the Work Graph and inherent cross-team collaboration capabilities. She added that Asana's differentiated approach to AI is a powerful driver for customers looking to consolidate their work management tools.

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Lucky Schreiner's questions to Asana (ASAN) leadership • Q3 2025

Question

Lucky Schreiner asked about the direction of sales cycles and which of the key efficiency areas mentioned by the CFO presents the largest opportunity for margin expansion.

Answer

COO Anne Raimondi stated that sales cycles remain about the same quarter-over-quarter, with improvements coming from better go-to-market execution rather than a changing macro environment. CFO Sonalee Parekh responded that the opportunity for margin expansion is evenly spread across functions, but noted that improving sales and marketing productivity probably stands out the most.

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