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    Matt Devlin

    Research Analyst at ROTH Capital Partners

    Matt Devlin is a Research Analyst at ROTH Capital Partners, specializing in equity coverage within consumer and technology sectors. He has covered companies such as Upexi, and his research performance includes direct involvement in earnings call analysis and Q&A, with a growing track record visible on platforms like Fintool. Devlin joined ROTH Capital Partners in recent years, with his prior experience and full career timeline not widely publicized, but his activity in public company engagement marks a focused entry into equity research. He maintains professional securities licenses compliant with industry standards, as evidenced by his active participation in research activities and regulatory filings.

    Matt Devlin's questions to UPEXI (UPXI) leadership

    Matt Devlin's questions to UPEXI (UPXI) leadership • Q2 2023

    Question

    Matt Devlin, on behalf of ROTH Capital Partners, questioned the early sales progress of Tytan Tiles in Walmart stores and its impact on the 2023 outlook. He also inquired about the current M&A pipeline, including its size and prevailing valuation multiples.

    Answer

    CEO Allan Marshall stated that while no public data on in-store Walmart sales was available yet, strong online sales during Cyber Week were a positive sign. CFO Andrew Norstrud addressed the M&A environment, noting that valuations are normalizing and the company is targeting a 3.5x to 5x multiple. He emphasized that the immediate focus is on optimizing existing assets and improving margins, rather than actively pursuing new acquisitions unless a highly compelling opportunity arises.

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