YB new stock pitches (Fri, Jun 20)

Elliptic Laboratories (ELABS.OL) offers AI Virtual Smart Sensors that replace hardware sensors in smartphones and laptops, with a $139M market cap and 248 patents protecting their IP. The company serves 6 of the top 10 smartphone OEMs, with their software deployed in over 500 million devices. In 2024, ELABS achieved 93% revenue growth, reaching profitability for the first time with a 19% EBITDA margin. The laptop segment is becoming increasingly important, with each laptop sensor generating approximately 10x the revenue of a smartphone sensor. Their new tap-to-share functionality challenges Apple's ecosystem by enabling seamless data sharing between devices. While smartphone market penetration is at 7.4%, laptop penetration is only 2.6%, offering significant growth potential. The company targets mid-term revenue of NOK 500M with EBITDA margins exceeding 50%. Key catalysts include expanding product deployments with existing customers, securing additional laptop OEMs, and maintaining the momentum in laptop sensor adoption, which has already exceeded 2024's full-year numbers in just the first five months of 2025.

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Hasbro (HAS) is currently undervalued at less than 14x next twelve months EPS with a 4% dividend yield. The company's Final Fantasy Magic: The Gathering release has been their most successful ever, and upcoming video game releases in Q3 should positively impact guidance. These factors position the company for an earnings surprise, with a likely buyback announcement expected within a year enhancing shareholder returns. The stock has a price target of $100 by the end of the year or early next year, driven by a projected 20x multiple on anticipated 2026 EPS of $5.50-6.00. Technically, HAS is holding a breakout level and needs to maintain a $67 share price into earnings to potentially surge to $75, with limited resistance between $75 and $90 once it makes a new 52-week high.

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The RealReal (REAL) presents an asymmetric opportunity following an unfair sell-off post-Q1 results, which were impacted by LA fires affecting their second-largest market and leap year effects creating a combined 1%+ revenue headwind. Despite management not raising full-year guidance due to April/May macro uncertainty, underlying business momentum remains strong with Q1 seeing the highest number of new consignors in over two years (which take 2 weeks to process plus 1-3 months to sell before impacting revenue). The company opened its 16th store, with stores now accounting for 25% of new consignors. Growth initiatives including Smart Pricing, referrals, and drop ship are beginning to contribute meaningfully to results. If REAL were to trade at ~3x revenues (comparable to TDUP, which runs a structurally weaker business), it would be worth over $15/share, with an August beat potentially quickly repricing the stock.

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