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    Vincent Kardos

    Senior Associate and equity analyst at Jefferies

    Vincent Kardos is a Senior Associate and equity analyst at Jefferies specializing in technology and mobility sector research. He has covered specific companies such as Offerpad Solutions Inc. and CarGurus Inc., actively participating in earnings calls and providing detailed investment analysis. Kardos began his career in finance with a focus on investment analysis and joined Jefferies as part of their equity research team, where he brings extensive experience to his coverage of emerging technology and mobility firms. He maintains professional credentials requisite for his role, ensuring compliance with industry standards, and has gained recognition for his rigorous analytical approach and sector expertise.

    Vincent Kardos's questions to Offerpad Solutions (OPAD) leadership

    Vincent Kardos's questions to Offerpad Solutions (OPAD) leadership • Q2 2025

    Question

    Vincent Kardos, on for John Colantoni of Jefferies, asked if the 'North Star' goal of 1,000 homes per quarter for breakeven is still relevant given the focus on asset-light services and inquired about the remaining runway for cost-cutting initiatives.

    Answer

    CFO Peter Knag confirmed that 1,000 transactions per quarter remains the breakeven target, but this now represents 'total real estate transactions,' including asset-light services, not just cash offers. He noted that quarterly operating expenses of $17 million will continue to decline. CEO Brian Bair added that technology enhancements from HomePro will enable smarter and faster scaling with greater efficiency.

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    Vincent Kardos's questions to Offerpad Solutions (OPAD) leadership • Q2 2025

    Question

    Questioned the relevance of the previously stated 'North Star' goal of 1,000 homes per quarter for achieving breakeven, especially with the new focus on asset-light transactions, and asked about the runway for further cost-cutting initiatives.

    Answer

    The 'North Star' target of 1,000 transactions per quarter for breakeven is still relevant, but it now refers to total real estate transactions, including a mix of balance-sheet and asset-light deals. The bottom-line impact per transaction is similar across types. Regarding costs, quarterly OpEx is down to $17M and is expected to decrease further in Q3, with a continued focus on managing expenses and leveraging technology for efficiency as the business scales.

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    Vincent Kardos's questions to CarGurus (CARG) leadership

    Vincent Kardos's questions to CarGurus (CARG) leadership • Q4 2024

    Question

    Vincent Kardos inquired about the new direct credit application pilot within Digital Deal, asking for early observations on lead conversion, and also asked about the potential business impact from tariffs on new cars.

    Answer

    Sam Zales, President and COO, explained that the 'direct credit app' pilot integrates directly with dealer financing systems, creating a more seamless process for down-funnel shoppers. He noted it's an extra step in listening to customer needs to drive transactions. Jason Trevisan, CEO, addressed tariffs, stating they could shift consumer demand from new to used cars, which may benefit CarGurus' subscription business if dealer turn times increase, but the company remains in a 'wait-and-see' mode.

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