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    Mike Kupinski

    Research Analyst at Noble Capital Markets

    Michael Kupinski is Director of Research and Managing Director for Media & Entertainment at Noble Capital Markets, specializing in equity research for companies across media, entertainment, and financial services. He covers a broad array of public firms including Nexstar Media Group, Gannett Co, Tegna, Audacy, and SeaChange International, with performance metrics such as a 37.7% success rate and an average return of 1.8% as tracked by TipRanks, and has been recognized as a Wall Street Journal 'Best on the Street' All-Star Analyst six times for stock picking skill. Kupinski began his analyst career in 1983 at A.G. Edwards, serving as Vice President and Media & Entertainment Analyst for 23 years before joining Noble in 2007. He holds an MBA in Finance from St. Louis University and is FINRA-registered with Series 7, 24, 66, 86, and 87 licenses.

    Mike Kupinski's questions to Perfect (PERF) leadership

    Mike Kupinski's questions to Perfect (PERF) leadership • Q2 2024

    Question

    Mike Kupinski asked about the impact of cost efficiency initiatives, whether new vertical expansions would primarily affect B2B or B2C, the outlook for sustainable margins given the business mix, and the current M&A environment.

    Answer

    EVP & CSO Pin-Jen Chen explained that efficiency is gained by upselling new verticals to existing clients, reducing customer acquisition costs. He detailed the margin profiles (B2B >90%, B2C ~70-85%) and expects the overall gross margin to remain near current levels. CEO Alice Chang clarified that new verticals are a B2B play, with technology leveraged in the B2C app. Regarding M&A, Mr. Chen confirmed it is part of their strategy and they are actively evaluating opportunities in a more reasonably valued market, though nothing is ready to be announced.

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