Precision in Performance: Outperforming Amidst Market Dynamics

Navigating the Volatile Q1 Landscape: Voss Capital's Resilience and Outperformance

During the initial quarter of 2025, marked by considerable market fluctuations, both the Voss Value Fund, LP and the Voss Value Offshore Fund, Ltd. delivered a net return of -7.3% to their investors. This outcome, while negative, notably surpassed the Russell 2000's total return of -9.5%, underscoring the fund's robust performance relative to small-cap benchmarks.

Identifying Value Amidst Disruption: Strategic Investments in Flywire and SharkNinja

A cornerstone of Voss Capital's strategy in Q1 2025 was the strategic acquisition of significant stakes in Flywire (FLYW) and SharkNinja (SN). These companies were identified as prime investment opportunities, trading at valuations influenced by prevailing market sentiments rather than their underlying intrinsic strengths. The firm's conviction in these investments stems from a thorough analysis of their fundamental business models and projected multi-year growth trajectories.

Flywire's Ascent: Diversification, Margin Enhancement, and Compelling Valuation

Flywire presents a compelling case for growth, driven by its successful diversification of revenue streams and continuous improvements in operational margins. The company's current valuation does not fully reflect its potential, making it an attractive prospect for long-term investors. Voss Capital anticipates that Flywire's strategic initiatives will unlock significant value in the coming years.

SharkNinja's Edge: Innovation, Global Reach, and Untapped Profitability

SharkNinja stands out for its unwavering commitment to innovation, its expanding global market presence, and the substantial upside potential in its profit margins. The company's ability to consistently introduce new and improved products, coupled with its strategic global expansion, positions it for sustained growth. Voss Capital believes that these factors will drive considerable shareholder value, as the market begins to recognize SharkNinja's inherent strengths.

The Prudent Path: Building Long-Term Alpha through Selective Accumulation

Voss Capital's investment philosophy centers on opportunistically accumulating shares of high-quality growth companies during periods of market irrationality. The firm maintains strong confidence that shifts in market perceptions and the effective execution of business strategies by these companies will inevitably lead to substantial long-term gains. This disciplined approach to stock selection and risk management is designed to generate consistent alpha for its partners.