Pernas Research

Theses · 7

• Sprout Social

  March 2026

  Sprout Social is a smaller SaaS company with privileged API access to major social platforms and a ~0.5x EV/Sales valuation that offers attractive re-rating potential as it adapts.

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• Fossil Group

  March 2025

  Fossil Group is undergoing a significant restructuring with an exit from smartwatches, store closures, and a focus on core markets, leading to improved financial metrics and a speculative investment opportunity.

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• Wise

  March 2025

  Wise is a well-loved product with strong consumer and SME traction, but faces infrastructure and regulatory constraints that make its growth potential in the bank partnership market unproven, leading us to view the stock as fairly valued.

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• Alarm.com

  March 2025

  Alarm.com is a potential long-term winner in the evolving U.S. residential security market, with significant growth opportunities and at least 50% upside from current levels.

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• Haivision

  December 2024

  Haivision is a speculative investment opportunity, focusing on essential hardware and software for live monitoring and broadcasting, with a growing emphasis on defense applications and recent significant contracts boosting future growth prospects.

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• Parrot

  December 2024

  Parrot is transitioning from consumer drones to focusing on enterprise and government contracts, positioning itself for future growth in a competitive market.

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• Paysafe

  December 2024

  Paysafe’s focus on iGaming, e-commerce, and direct sales growth positions it for strong upside as digital payments expand

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Letter archive · 9

Funds · 5

• Pernas Research5
• Pernas Research Stock Sonar 882
• Pernas Research Alarm1
• Pernas Research Paysafe1
• Pernad Research0