The desk's scorecard
Analysis, not adviceEvery earnings call we cover, graded in public against the transcript.
Ascend has named 84 falsifiable conditions across 25 graded prints.
“Q1 adjusted EBITDA was $168 million... Excluding the impact of tariff refunds, our adjusted EBITDA was up 36% year-over-year”
See the full graded call →“there was some margin compression on the acquiring business...increasing cost of devices because of higher cost of chips”
See the full graded call →“revenue totaled approximately $817.9 million... representing growth of 10.6%”
See the full graded call →“CELSIUS brand revenue decreased by approximately 11.7% in the second quarter of 2026 compared to the same period last year”
See the full graded call →“Gross profit margin decreased to 48.1% for the three months ended June 30, 2026 from 51.5%... primarily driven by higher promotional and incentive activity”
See the full graded call →“"Sport rights expenses (including amortization of capitalized sport rights licenses) (137,752)" against revenue of 377,815; "Adjusted EBITDA margin expansion of approximately 70 to 100 basis points on a reported basis" · press release”
See the full graded call →“"Sport rights expenses ... 137,752" / "Revenue ... 377,815" and "Adjusted EBITDA margin expansion of approximately 70 to 100 basis points on a reported basis" · press release”
See the full graded call →“Managed Trading Services revenues due to higher turnover and trading margins were offset by lower platform revenues”
See the full graded call →“Adjusted EBITDA margin expansion of approximately 70 to 100 basis points on a reported basis”
See the full graded call →“"Sport rights expenses... 137,752" / "Revenue... 377,815" (137,752/377,815 = 36.5%) · press release financial tables”
See the full graded call →“Technology Platform segment net revenue of $84.5 million for the second quarter of 2026... Compared to the prior year period, segment revenue decreased 23%”
See the full graded call →“The margin compression reflects our choice to invest in strategic initiatives”
See the full graded call →“We delivered $611 million of income from operations, representing a 6.9% margin”
See the full graded call →“On an organic basis, excluding Rhode, our net sales were down approximately 3% this quarter.”
See the full graded call →Every grade we published and what happened next — counts, not a win rate. Early and honest: young rows show the horizon hasn't elapsed yet.
| Grade | Graded | 1q elapsed | Median 1q | Median 2q | Next print: held / worsened / recovered |
|---|---|---|---|---|---|
| INTACT | 6 | 4 | +4.7% | — | 2 / 2 / 0· 2 no print yet |
| WOBBLING | 5 | 2 | +49.9% | — | 1 / 0 / 1· 3 no print yet |
| BROKEN | 0 | 0 | — | — | 0 / 0 / 0 |
| Ticker | Graded | What we said → the next print | 1q | 2q |
|---|---|---|---|---|
| ELF | 2026-08-06 | INTACTno print yet | — | — |
| MELI | 2026-08-06 | WOBBLINGno print yet | — | — |
| AMD | 2026-08-05 | INTACTno print yet | — | — |
| SRAD | 2026-08-03 | WOBBLINGno print yet | — | — |
| META | 2026-07-29 | WOBBLINGno print yet | — | — |
| MU | 2026-06-26 | INTACT→INTACT2026-09-30 | -4.4% | — |
| NU | 2026-05-25 | INTACT→INTACT2026-08-13 | +15.9% | — |
| SRAD | 2026-05-24 | INTACT→WOBBLING2026-08-03 | -0.2% | — |
| CELH | 2026-05-21 | INTACT→WOBBLING2026-08-06 | +9.6% | — |
| ELF | 2026-05-21 | WOBBLING→INTACT2026-08-05 | +85.4% | — |
| MELI | 2026-05-21 | WOBBLING→WOBBLING2026-08-05 | +14.5% | — |
1q and 2q are the price change over the 91 and 182 calendar days after the grade — context on what followed, not a claim that we called it.
68 drift changes across subscribers' own theses. Aggregate counts — no ticker, no reader, and no return: drift moves on criteria, never on price.
Every criterion on every active thesis and where it stands — counts, not a score. “In band” means a print addressed it and the result sat inside the band; “not addressed” means the print didn't speak to it; “due later” means it isn't testable yet.
“Couldn't see” is the honest bucket: 35 criteria wererecorded neutral by an older rule that read a print's silence as a neutral result. Nothing addressed them, so they are not counted as in band. They clear the moment a print speaks to them.
These four overlap the row above on purpose: a confirming criterion the latest print skipped is counted as confirming and as one of the 10 not addressed. Across 35 active theses, aggregate counts only — no reader, no ticker.
Before each covered earnings call, the desk names the specific, falsifiable conditions its view depends on. After the print, each is checked against the transcript: held (the condition was met), broke (it failed), or still open(the call didn't address it). We publish before and grade after — every one, in the open.
Educational analysis, not a personalised recommendation.