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Steve Matt's avatar
$19.3m follower assets
$U $BIRD $OLO Earnings: What I'm Looking For
Unity Software Inc. ($U) - Reporting earnings this afternoon (5/10)

Here's what I'm looking for:

  • Currently trading at 15.2 trailing sales and 8.7 forward sales which sounds expensive. However, It's slightly on the cheap side on my Price-to-Sales-to-Growth ratio at 0.20 (accurately priced is 0.25). Will they maintain 40% revenue growth and keep the PSG in the range it's at?
  • Net profit margin (I guess it's more accurate to call it a net loss margin) has gotten worse each of the past 2 years. FCF worsened as well. Curious to see what direction this goes. I would guess they'll both get worse before better.
  • Operate revenue growth >50%.
  • DBNER >140%
  • Customers generating $100,000 revenue >1,100.

Current position:
Total cost basis: 27th highest in my portfolio
Time since first buy: 0.32 years
Number of purchases since: 1
Annualized return: (90.7%)
Annualized $SPY return: (30.0%)
Annualized $QQQ return: (45.1%)

Allbirds, Inc. ($BIRD) - Reporting earnings this afternoon (5/10)
This is a company that I'm partially blinded by my love of the product. Allbirds are incredible shoes. I own 5 pairs. I still think $LULU should by them. Seems like a match made in heaven.

Here's what I'm looking for:

  • Really need to see strong revenue growth. 2021 grew at 26.5%. Really hoping for 30%+ in Q1.
  • Would really appreciate if management would begin providing digital vs store revenue breakdown along with shoe vs apparel and men vs women.
  • Just curious to see what management's comments on are the conference call.

Current position:
Total cost basis: 22nd highest in my portfolio
Time since first buy: 0.51 years
Number of purchases since: 2
Annualized return: (92.5%)
Annualized $SPY return: (21.6%)
Annualized $QQQ return: (38.3%)

Olo Inc. ($OLO) - Reporting earnings this afternoon (5/10)
This was my play on the food delivery trend. I hate the food delivery apps ($DASH $UBER $GRUB whatever, they all suck and are predatory to their "contractors" and the restaurants). Olo though is just SaaS for restaurants. I'm getting pummeled in my position but I remain cautiously bullish.

Here's what I'm looking for:

  • Annualized revenue growth of 67% since 2018 is nothing to sneeze at. Need to keep it up to justify their somehow still high P/S ratios. PSG is cheap on my scale though at 0.10.
  • Gross profit margins got worse in 2021. Get it back above 80%, please.
  • Active location count growth >83,000.
  • Average revenue per unit >$525.
  • NRR >120%
  • Not sure of management will provide this metric but a modules per location update would be lovely.

Current position:
Total cost basis: 12th highest in my portfolio
Time since first buy: 1.14 years
Number of purchases since: 1
Annualized return: (61.1%)
Annualized $SPY return: 2.4%
Annualized $QQQ return: (4.1%)
Beaten-down 2021 IPOs
I love avoiding new initial public offerings for their first couple of earnings reports as a publicly-traded company -- but even more so, I love revisiting them after this 6-12 months.

Life as a newly public company is rough as expectations from analysts are wonky, and management is adjusting to a new lifestyle of increased scrutiny.

With this in mind, here's a list of 2021 IPOs I'm watching that have traded down since going public.

$RSKD Riskified -74% | $PATH UiPath -67% | $COOK Traeger -66% | $BIRD Allbirds -65% | $MQ Marqueta -64% | $CPNG Coupang -62% | $OLO Olo -56% | $COIN Coinbase -53% | $APP Applovin -51% | $EXFY Expensify -44% | $USER UserTesting -42% | $BMBL Bumble -42% | $WRBY Warby Parker -40% | $AFRM Affirm -39% | $WEBR Weber -37% | $NU Nu -31%| $RBLX Roblox -30% | $SEMR SEMrush -27% | $FIGS FIGS -27% | $MNDY Monday -13% | $DOCN DigitalOcean -11% | $CFLT Confluent -8% | $GLBE Global-e Online -6% |

Curious to hear what you all may like the most from these?

Out of this list, four are part of my Core 34 group of holdings that I aim to add to the most here in 2022.

Have a good weekend, friendly humans.
With of the four from my core 34 do you like the most?
10%Global-e Online
19 VotesPoll ended on: 05/02/22
One of my favorite small (ish) cap stocks out there. These guys have a lot going for them. $OLO
Had not heard of $OLO before this. Thank you so much for sharing your pitch :) Concise and insightful!

What were some of the other players in the restaurant industry that you were watching before you settled on $OLO?
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2021 was a great year for me, Thanks for supporting me!
Looking back at 2021, here is a list of some of the best ideas I have written about $BLND $HIMS $SEMR $SMWB $EJFA $ZIP $PCOR $OLLI $JAMF $FROG $SQSP $OLO

Let's Look at these, one by one:

Also, I own all of these, I share my portfolio here -

Subscribe to to follow my work and portfolio.
Modern Growth Investing Portfolio 12/01/2021
Sharing My portfolio for December 2021(Top 30 Positions - 87.39% of my overall portfolio - Ask Me Anything!)

Business I Own - Percentage
$TTD 8.23
$NOW 5.65
$APP 5.41
$HIMS 4.83
$BRLT 4.58
$AFRM 4.58
$CRM 4.35
$IS 4.22
$ROVR 3.89
$BLND 3.30
$CTSDF 3.00
$ACI 2.77
$MAPS 2.66
$TCNNF 2.56
$VYGVF 2.17
$FROG 2.13
$ZIP 2.12
$DT 2.10
$JAMF 2.09
$ADSK 1.96
$OLO 1.84
$COTY 1.83
$MDB 1.79
$BBLN 1.74
$SMRT 1.53
$SEMR 1.36
$TVAC 1.18
$ENNV 1.18
$FMAC 1.18
$OCA 1.17

Upvote and Repost if you want to share!
How many positions do you have any what is your process for tracking them? Do you pay closer attention to larger weighted names?
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Tim Luckow's avatar
$21.5m follower assets
Olo - powering restaurants
Anyone else starting to build a position in $OLO? Discovered the platform a few years back and recently learned it’s powering the Sweetgreen app, Shake Shack, Jamba Juice, and many more. Seems like a much more interesting play on the future of food POS systems vs $DASH and $UBER.

Will be interesting to see this one play out.

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Pretty great customer list - especially since Sweetgreen and Shake Shack immediately come to mind as having some of the better checkout experiences compared to other fast casual spots. Great find!
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Bogdan's avatar
$32.2m follower assets
IPO & SPAC Announcements in March 2021
Following the interest in these two topics, I'm coming back with two names that might be of interest to all of you.

4: $OSCR | Oscar Health
10: $RBLX | Roblox
11: $CPNG | Coupang
17: $OLO | Olo, Inc.
24: $DOCN | DigitalOcean
25: $VZIO | VIZIO Holding
25: $SEMR SEMrush Holdings
26: $TDUP | ThredUp
31: $COUR | Coursera

**_Rumors/Announcements/In talks:
Grab -- Weighs U.S. IPO Through SPAC Merger
British auto data start-up Wejo in talks to go public in $2 billion
APGB.U- Apollo Strategic Growth Capital’s SPAC deal has expanded from just Solera to include two more Vista portfolio companies: DealerSocket & Omnitracs. A deal could be valued at about $15 billion.
$QELL — Lilium, a German flying taxi startup, is in talks to merge with Qell, a SPAC led by former GM exec Barry Engle. A deal is set to value the combined co. at >$2bn.
$HZON — Swiss gambling data company Sportradar is in talks to go public through a merger with a SPAC led by LA Dodgers co-owner Todd Boehly (Horizon Acquisition Corp. II)
$AGC- Altimeter SPAC is and the talks with Grab
$SVOK — Boxed, an online retailer of groceries/household products in bulk, is in talks to go public through a merger with a SPAC (Seven Oaks Acquisition Corp.)
$ENFA — Buzzfeed is in talks to go public through 890 5th Avenue Partners, a SPAC named after the Avengers mansion

#### Confirmed deals
$MOTN Ambulnz (dba DocGo), a “leading provider of last-mile telehealth and integrate medical mobility services”
$NHIC EvolvTechnology, the “leader in AI-enabled touchless security screening”
$NBA @airspannetworks, a “leading 5G technology company”
$DMYI @ionq_inc, the “first publicly traded pure-play quantum computing company”.
$GWAC  Cipher Mining, a “newly-formed US-based Bitcoin mining company”
$RTPZ @hippo_insurance, a “company that is transforming the home insurance industry”
$SOAC @deepgreenmetals, a “developer of the world’s largest estimated resource of battery metals for EVs” (pre-revenue until 2024)
$VMAC @anghami, the leading music streaming platform in the Middle East and North Africa.
$CAP Doma, a disruptor in the closing process of the residential real estate industry.
$ACND Beacon Street Group, a subscription platform for financial research, software, and education.
$TWND QOMPLX, a leader in cloud-native risk analytics.
$NSH @spireglobal, a provider of space-based data and analytics.
$VACQ @rocketlab, an end-to-end space company and a global leader in launch.
$BOWX -@wework, shared workspace.
$SV -@aerofarms, indoor vertical farming.
$GNPK -@redwirespace next-generation space infrastructure.
@velo3dmetal, high-value metal additive manufacturing market
$TBA -@ironsource, a business platform for the app economy
$CIIC -@arrival, EV
$MLAC - Asia Vision Network, Indonesia's fastest-growing OTT media provider
$SCPE -@rockleyphotonic integrated silicon photonic chips
$ITAC -@arbe_robotics, high-resolution 4D imaging radar technology
$FTCV -@etoro, social investment network
$SPNV -@offerpad, real estate platform
$DFNS -@ironnet, collective defense, and network detection
$CTAC -  KORE, IoT solutions and connectivity-as-a-service
$EMPW - Holley, performance automotive aftermarket platform
$EMPW — Holley, the “largest performance automotive aftermarket platform”.
$AJAX — @cazoouk, “UK’s leading online car retailer with a fast-growing presence in Europe”
$CMII -@somalogic, the “leading AI-data driven proteomics platform for advanced research and clinical apps”
$QELL — @lilium, “positioned to be the global leader in regional electric air mobility” (pre-revenue)
$LATN — Procaps Group, a “leading global pharmaceutical technology and healthcare company”

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