Portfolio watch
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AppFolio lays off 9% of workforce in second round of 2023 cuts
AppFolio CEO Shane Trigg announced that the company would be firing 9% of its workforce, or 149 employees, effectively immediately, he wrote in a letter sent out to employees on Aug. 17. The letter, filed with the U.S. Securities and Exchanges Commission, said the company’s lack of profitability hurt “our ability to achieve our potential.” Read More →
Connected TV, retail media bolster Trade Desk’s solid quarter
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24 tri-county companies earn a spot on national fastest-growing companies list
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Transphorm reports slightly higher revenue in first quarter
Goleta-based Transphorm reported its first-quarter earnings after the markets closed on Aug. 14, noting a slight raise in revenue. Transphorm, a supplier of gallium nitride power conversion products, generated $5.9 million in revenue in the first quarter up from $5.2 million in the same quarter a year ago. Moreover, the company’s net loss was $7.4 Read More →
Pearce Renewables acquires leading solar engineer
Paso Robles-based Pearce Renewables, a subsidiary of Pearce Services, has acquired Natron Resources, a leading provider of design and engineering services for solar photovoltaic (PV) and energy storage systems, the company announced in an Aug. 14 press release. The company did not disclose the financials of the acquisition. Pearce Renewables is the largest independent services Read More →
Opinion: Despite pessimistic outlook, U.S. economy shows positive signs
By Arthur G. Swalley The first half of 2023 was highlighted by a substantial rally in risk assets, despite a mini-bank crisis and a year’s worth of pessimistic prognostications about an impending recession. On July 12th, the Bureau of Labor Statistics reported that the consumer price index rose just 3% last month from a year Read More →
