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Pelican surfaces high-conviction signals, underwrites valuation, and publishes investment memos you can audit end-to-end—from the raw source to the thesis.

Citations on every claimDaily signal shortlistBuilt for PM workflows
BUY
GAMBGambling.com Group
ConvictionMedium
Price$5.13
Target$7.33
Upside+42.8%

Thesis: Market is mispricing the strategic pivot to B2B data. With 93% gross margins and founder alignment, the risk/reward is highly asymmetric despite near-term noise.

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Top signals as of Sun, 12/14/2025.

From signal to conviction.

We discover high-signal candidates, underwrite them with deep fundamental research, then let you interrogate every claim with cited sources.

Daily funnel
Raw events1,800+
Candidates surfaced~20/day
Underwrittendaily
Published Buys1–2
Candidates are signals-not recommendations. Buy ratings come only after underwriting.
7 sources → daily candidates
Insider Conviction Cluster buys with high materiality
13F Flows Smart money anomalies and convergence
Corporate Catalysts Step-change economics (spins, asset sales, contracts)
Analyst Divergence Street repricing and conviction signals
+ Others Special Situations, Quant Screens, Congressional Trading
Discover (idea generation)

A daily list of candidates with a clear "why now" and a signal rating. It accelerates idea generation; underwriting determines whether it becomes a Buy.

7 High Quality Sources for Ideas.

We monitor thousands of regulatory data points daily. Our algorithms reject 99% of activity—screening for the highest-conviction signals of the day.

Special Situations

STRUCTURAL MISPRICING

  • Odd-Lot Tenders (Zero-proration premium)
  • Broken Deal Arbitrage
  • Cannibal Buybacks (>15% float retired)

Corporate Catalysts

STEP-CHANGE ECONOMICS

  • Spinoffs & Asset Sales (>25% of EV)
  • Multi-Year Contract Wins
  • Rejects non-binding LOIs & admin news

13F Flows

SMART MONEY ANOMALIES

  • Size Mismatch (Mega Fund → Micro Cap)
  • Concentration (>25% of fund portfolio)
  • Convergence (5+ Elite Funds buying)

Insider Conviction

SKIN IN THE GAME

  • Cluster Buys (3+ Insiders)
  • High Materiality (>$1M or >100% increase)
  • C-Suite Priority (CEO/CFO weighting)

Congressional Trading

INFORMATION ASYMMETRY

  • Lead Purchases >$250k
  • Cluster Buys (3+ Members)
  • Bipartisan activity tracking

Quant Screens

FUNDAMENTAL DISCONNECTS

  • Deep Value (Low P/B + High Ownership)
  • GARP (High ROE + Low EV/FCF)

Analyst Divergence

STREET REPRICING

  • Conviction (>50% implied upside)
  • Consensus Gap (>30% above street)
  • Elite Firm Bonus weighting

Deep Fundamental Research.
Tailored by Archetype.

Our AI identifies the specific business model—Turnaround, Asset Play, Compounder—and builds the investment thesis using the appropriate framework.

1. Valuation Triangulation

We never rely on a single metric. We triangulate intrinsic value using DCF models, Net Liquidation Value (NLV) floors, and historical/peer multiples.

2. Competitive Dynamics

We assess business durability. Our Strategic Scorecard analyzes industry structure, capital cycle positioning, and moat sustainability.

3. Management

A cheap stock with bad management is a value trap. We audit capital allocation history and insider alignment to verify stewardship.

4. Market Context

We analyze market reality to validate the setup: Technical trends, institutional flows, and short interest dynamics.

Valuation Summary (GAMB)
MethodologyValueWeightUpside
Comps$5.7160%+11.3%
Price Targets$8.5030%+65.7%
Historicals$13.4910%+163%
Weighted$7.33100%+42.8%

AI Agent Control Room.

Pelican routes questions to specialist agents trained on specific data sources, then returns a clear answer with citations you can audit.

🧠

The Lead Analyst

Synthesizes all Pelican research to defend the thesis and highlight disconfirming checks.

Live Data Agent

Pulls real-time pricing, filings, insider trades, analyst targets, and relevant market data.

📄

10‑K Analyst

Extracts risk factors, segments, unit economics, and moat claims directly from annual reports.

⚖️

Proxy Analyst

Reviews governance, executive comp, and shareholder rights to surface incentive risks.

🎙️

Transcript Analyst

Summarizes prepared remarks and Q&A themes across calls, including narrative shifts and concerns.

You

Summarize BLSH’s last 2 earnings calls. Pull PR + Q&A themes, narrative shifts, and limitations.

Contacting orchestrator… searching transcripts…
Pelican Agent — TRANSCRIPT

Earnings Call Transcript Summary: BLSH

This report is a summary of 2 available earnings call transcripts for the period spanning September 2025 to November 2025.


Part 1: Individual Transcript Summaries

FY2025 Q3 Earnings Call Summary (Date: 2025-11-19)

  • Prepared Remarks (PR) Summary
  • Record adjusted revenue of $76.5M (34% QoQ, 72% YoY) and adjusted EBITDA of $28.6M (253% QoQ, 271% YoY).
  • Options trading launched: >$1B volume in 2 weeks; $1B open interest.
  • Expanded U.S. exchange operations post-BitLicense; onboarding institutional clients (Webull, Moomoo, Cantor Fitzgerald).
  • Question & Answer (QA) Summary
  • Key themes: liquidity services growth economics, U.S. expansion trajectory, options impact, margin sustainability.
  • Clarified Q4 guidance and defended spread compression as volatility-driven but improving.

Part 2: Narrative Evolution Overview (Cross-Transcript Synthesis)

  • Strategic focus shifted from infrastructure development (Q2) to commercialization and accelerated onboarding (Q3).
  • Recurring concerns: liquidity services economics, U.S. monetization timeline, margin sustainability, competitive positioning.

Limitations

  • Summary of management narrative only; not independent verification or investment analysis.