YB new stock pitches (Wed, Jul 15)

Five Point Holdings ($FPH) reported strong Q125 earnings with a 20% bottom-line beat, driven by land sales at Great Park averaging $11.8 million per acre. The company still has approximately 100 acres remaining at Great Park, where it maintains 42% economic interest. Despite an enterprise value of only $850 million at $5.80 per share, FPH guides for $200 million in net income for 2025. The stock trades cheaply relative to its assets, which include 4-5 years of land inventory at Great Park plus significant upside from Valencia and Candlestick projects. The company maintains financial flexibility with approximately $450 million in cash, which could be used to address its $525 million in 10.5% senior notes (callable at 102). Demand is accelerating at Great Park despite high mortgage rates, with record homesites and homes sold in Q125, positioning FPH for strong earnings for years to come as it sells land in housing-starved California.

Read the full article here. Read time: 2 min

Gatekeeper Systems Inc. (GKPRF) is positioned for substantial growth due to U.S. and Canadian mandates requiring surveillance systems on buses, with expected 30%+ annual revenue growth. Canadian regulations mandate perimeter visibility systems on all new school buses, affecting over 65,000 buses by 2036 with GKPRF earning approximately $5,000 per installation. In the U.S., 26 states are implementing camera systems to issue tickets for illegal passing of school buses, which are self-funding through violation revenue. The company recently won a $23M contract with New York's MTA (representing just 1/8 of NYC potential), which could expand to over $200M CAD, complementing its existing relationships with the #1, #3, and #5 North American transit authorities (Philadelphia's recommendation helped secure the NYC win). GKPRF benefits from high-margin recurring revenue from AI monitoring and ticketing systems, with federal locomotive camera mandates required by October 2027 providing additional opportunities. The company is attracting increased institutional interest following the New York win and may pursue a U.S. exchange listing with potential Russell 2000 inclusion, which would drive approximately $10M in ETF purchases.

Read the full article here. Read time: 3 min

Joby Aviation (JOBY) has quietly begun testing its hydrogen-powered unmanned aerial vehicle, the JAI 30, at Pendleton UAS Range, demonstrating flight endurance exceeding nine hours, positioning it among the longest-endurance hydrogen UAVs ever developed. This development reveals Joby's evolution beyond its initial air taxi focus into a vertically integrated aerospace company with significant Department of Defense contracts potentially worth over $160 million. The company has strategically expanded its hydrogen capabilities, acquiring H2FLY in 2021 and completing a 523-mile hydrogen-electric demonstration flight in 2024. Joby further strengthened its autonomous systems by acquiring Xwing's autonomy division in June 2024, leveraging Xwing's experience with the Air Force's AFWERX program. The company's presence at Pendleton, one of America's largest unmanned aircraft testing centers with 14,000 square miles of airspace, alongside defense giant Anduril, underscores its serious commitment to advanced aerospace technologies beyond passenger eVTOL aircraft.

Read the full article here. Read time: 5 min