Samuel Meciar's avatar
$7.5m follower assets
Portfolio changes - update 7
Hello friends, I've been continuously evaluating my portfolio over the weekend and I want to share with you what my end actions/conclusions are:

  • I sold $AMPL. For those not familiar, Amplitude is a leader in product and behavioral analytics which puts seemingly random data into a perspective. They compete with players such as Mixpanel or Pendo. All of those are pretty strong competitors, which on its own isn't a deal breaker, in theory all of those could win simultaneously as the space is huge. But, those insights get sent over into CDPs or Customer Data Platforms. Customer data platforms are basically a software which combines the data from all sorts of tools - like Amplitude - to create a centralized customer database containing data on all touch points and interactions with the product/service. Segment is no.1 in the space, used by huge players, acquired recently by Twilio (which I own). Now I realize that regardless of whether Amplitude, Mixpanel or Pendo wins the customer, they are likely using Twilio already for at least something and so the network effects kick in. Therefore I decided to play this space through $TWLO which is more diverse and not focused on just one product, but instead has a lot of functionality and owns the top player in the CDP which is where that data from Amplitude and others comes from anyways. So I'll have exposure. I just prefer that upper layer over the end layer.

  • I spent basically the whole day yesterday trying to understand $SNOW better, evaluating their first mover advantage when it comes to data evolution in cloud vs legacy, their relationship with SMBs and overall the culture of the company. I'm very impressed and the company fits a lot of my checkmarks. Frank maybe isn't the most visible CEO out there, but I somewhat admire his laser focus on innovation, not getting too comfortable with yourself, ... basically pushing the limits at all times. Both $MDB and $SNOW fit many of investing themes I build my portfolio around and give me an exposure to broad set of customers, even better so to those just scaling up whose success will be reflected in the amount they pay to those because of their usage based pricing. $PLTR does something similar, but their Data Mesh is way more early in the process and Palantir overall has way less clients (although more capitalized) than those two. These 3 companies I believe are the best of breed when it comes to anything data. In conclusion, I essentially dismissed Snowflake due to the valuation since the listing, I knew something but not nearly as much as I do today. Now that I'm better informed I decided to add this one into my portfolio. This no doubt is a very HQ company!

  • I also added more shares of $PATH today as I believe this is an incredible opportunity to load up more shares of this incredible beast!
$BGRY $NLCP $FIGS Earnings: What I'm Looking For
Earnings season is coming to a close for me. I may have a few more of these posts but they'll become a bit more spread apart (I'll probably do one for $DOCS, $RSKD, $SNOW, $PATH, $OKTA, and $CRWD in the next couple weeks before they report. Follow if you want to see them and comment about what I'm overlooking or getting wrong!
Berkshire Grey, Inc. ($BGRY) - Reporting earnings this morning (5/12)
This is a loooong term play on the robotics automation market. I think there's very little that could make me sell this position before it hits the 5-year mark in my portfolio. Not that I think it'll be a market-beater by then. I just don't think the company's execution can be properly evaluated before then. For Berkshire Grey, I am looking at three things:
  • Revenue growth - Obvious
  • Balance sheet - Don't be on the verge of bankruptcy
  • Backlog - The indicator of whether or not companies are buying into the product
Current position:
Total cost basis: 73rd highest in my portfolio
Time since first buy: 1.09 years
Number of purchases since initial position: 2
Annualized return: (84.4%)
Annualized $SPY return: (9.6%)
Annualized $QQQ return: (19.7)
NewLake Capital Partners, Inc. ($NLCP) - Reporting earnings this afternoon (5/12)
Is this a mini-$IIPR? They are certainly tracking that way, at least early on.
Here's what I'm looking for:
  • It'd be great if management began breaking out Property Expenses in their Operating Expense breakdown (like IIPR does).
  • Can revenue keep growing >100%?
  • Property count and rentable square feet needs to keep growing.
  • Stay at or really close to 100% leased.
Current position:
Total cost basis: 37th highest in my portfolio
Time since first buy: 0.55 years
Number of purchases since initial position: 1
Annualized return: (55.8%)
Annualized $SPY return: (22.1%)
Annualized $QQQ return: (34.5%)
FIGS, Inc. ($FIGS) - Reporting earnings this afternoon (5/12)
I love what this brand is doing. My wife is in the medical industry and anecdotally confirmed how loves FIGS clothes are.
Here's what I'm looking for:
  • Management is guiding for 32% full year revenue growth, which would be a deceleration. Getting a good jump in Q1 will hopefully be an indicator of a full year beat.
  • Gotta stay FCF positive.
  • Can international revenue keep growing at triple digits?
  • I know the demand for scrubs will continue to be there. What about non-scrubs revenue? It accounted for 13.5% of 2021 revenue (an all-time high) and grew at 61% in 2021. Can that continue?
  • I really wish management would updated investors CAC.
  • I also wish management would update investors on Net Revenue per Active Customer and Average Order Value on a quarterly basis instead of annually.
Current position:
Total cost basis: 23rd highest in my portfolio
Time since first buy: 0.93 years
Number of purchases since initial position: 3
Annualized return: (63.1%)
Annualized $SPY return: (10.4%)
Annualized $QQQ return: (17.8%)
$DOCS –LinkedIn for healthcare?🩺💉
Doximity is a high-growth company that created a platform for U.S. medical professionals (80% of all physicians across the US use this!). I see the platform as LinkedIn with tools specifically made for physicians built into the platform (video tools, telehealth applications).

Mission: To help physicians be more productive and provide better care for their patients

What I like:
  • Net revenue retention rate of 171%
  • Low sales and marketing costs – most physicians join because of network effects
Recurring revenue is a majority of complete revenue
  • Revenue growth (67% YoY)
  • High margins (57% GAAP net margin YoY) – understated
  • Extremely high net income and free cash flow growth.

  • 2 out of 3 co-founders are still involved, one being the CEO.
  • Very high glassdoor ratings. (4.8/5).
  • High insider ownership (27%)

What I don’t like:
  • Competition: LinkedIn, Teladoc and basically any other telehealth business
  • VERY high valuation. (EV/Sales NTM: 15.9, P/GP: 26.4x)

Overall a very strong business, but the stock is pricey! I’ll be looking for an entry at more attractive levels. What do you think?🧐

I’ll be doing more short pitches on stocks like $MELI , $PATH , $U , $NVDA , $DDOG soon, so follow me for more! 😁
Samuel Meciar's avatar
$7.5m follower assets
Brief news 4/5/22
$AMD reported earnings, here visualized:

$ABNB reported earnings, here visualized:

Airbnb's CEO Brian Chesky also announced a large event coming in a week on May 11 where the company should unveil the largest changes to the platform in a decade.

$AFRM to become a first BNPL partner fully integrated to Carat operating system from enterprise payment provider $FISV.

$COIN opened up their NFT Marketplace to everyone.

$CRM ranked as #1 CRM provider by IDC for 9th year in a row.

$DOCU hires Steve Shute, a former SAP leader with over 25 years of experience to help DocuSign scale beyond e-signatures; grow Agreement Cloud.

$PATH announced integration with $CRM's MuleSoft.

$PLTR won a $90m 5-year contract with HHS.

$ROKU announced new shoppable ad experiences in OneView, new collaboration with $MSFT + new Roku Originals and Roku Brand Studio programs.

$S completed an acquisition of Attivo Networks, a leading identity security provider.

$SQ and $RAD partnered to provide Afterpay's BNPL for everyday items.
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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
Samuel Meciar's avatar
$7.5m follower assets
Brief news 28/4/22
$AAPL under regulatory pressures introduced Self Service Repair Store, available in the US and should expand outside US, starting in Europe later this year.

$ABNB reached 2 billion searches in their "I'm flexible" search, which was designed to serve people who are primarily passionate travelers with hybrid/remote work. The "I'm flexible" offering was introduced in May 2021.

$COUR announced earnings, here visualized:

$CRM announced new innovations in Salesforce Flow, a suite of automation technologies, with ability to help customers quickly automate any complex business process on the Salesforce Customer 360 Platform.

$ENPH announced earnings, here visualized:

they also announced an expansion of battery storage in Michigan.

$GOOGL announced earnings, here visualized:

$MSFT announced earnings, here visualized:

$PATH appointed Robert Enslin as a Co-CEO of the company. Robert previously worked as a former executive for $GOOGL Cloud and has about 30 years of enterprise software experience.

$PINS reported earnings, here visualized:

$PYPL reported earnings, here visualized:

$QCOM reported earnings, here visualized:

$SPOT reported earnings, here visualized:

$SQ announced a launch of Square Loans for Canadian Businesses, giving SMBs a simple access to funds and eliminating another major pain point associated with running a business.

$TWLO welcomes 2 new executives, Reeny Sondhi as a First Chief Digital Officer and Amy Holcroft as First Chief Privacy Officer. Both of those roles are new to Twilio. Reeny previously worked as Chief Security Officer at Autodesk. Amy previously worked at HP where she was a privacy leader for 13 years.

Woah, that was a lot of results haha. Looking for $ROKU $TEAM $AMZN and $AAPL today.
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What are your thoughts on $COUR' generally? I think it's really promising to see that their-

  • Total revenue was $120.4 million, up 36% from $88.4 million a year ago.
  • Gross profit was $77.6 million or 64.5% of revenue, up 57% from $49.5 million a year ago. Non-GAAP gross profit was $78.2 million or 64.9% of revenue, up 58% from $49.6 million a year ago.
  • Adjusted EBITDA was $(11.0) million or (9.1)% of revenue, compared to $(10.1) million or (11.5)% of revenue a year ago.
  • Net cash used in operating activities was $(38.3) million, compared to $(4.3) million a year ago. Free cash flow was $(42.2) million, compared to $(8.6) million a year ago.
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Samuel Meciar's avatar
$7.5m follower assets
Brief news 26/4/22
As stressing as this market is, it's important to focus on what really matters for investors - longer term fundamentals. That's why I'm here for you with brief news that happened recently, here we go:

$ADYEY's payment platforms chosen by Amazon's Japanese branch to optimize checkout experience.

$AFRM released an another consumer spend study, saying:

  • 66% of Americans worry about rising costs
  • 62% have more goals they want to accomplish this year than ever before
  • 44% hope to travel domestically; 39% abroad this year. Most of those plan to spend more than usual on their next trip
  • 34% plan to furnish a new home/apartment this year
  • 31% planning to move to a new city/state
  • Average consumer to spend about $4000 on home upgrades
  • 38% of respondents planning to buy a car this year
  • 37% to attend a festival/concert
  • About 65% of Americans plan to use BNPL solution like Affirm for purchases this year with 29% about to use it for travel, 28% on wardrobe updates and 34% on luxury items.

$ASML announced an installation of first HMI eScan 1100 multibeam system which should bring high-throughput, high-resolution e-beam inspection into volume manufacturing.

$ABNB's teams now working to support Toronto and communities across Canada + North Carolina to boost tourism and spotlight economic opportunities.

$COIN Coinbase Cloud announced support of liquid staking through collaboration with the Acala Foundation, starting with KSM liquid staking on Karura. Liquid staking lets token holders stake their tokens while still putting them to work in DeFi - without being subject to unbonding periods. This offers token holders more opportunities to participate in the crypto economy.

$PATH launched "Automation in a Box" managed service on Finastra's Cloud Platform to deliver automation to banks and credit unions. With the new offering, UiPath and its partners can design, install, deploy, run, and maintain automated processes to enable the banking sector to leverage the power of automation along with the security and compliance of cloud-based infrastructure from Finastra, a leading pure-play financial services software provider.

$QCOM appointed Jim Cathey as Chief Commercial Officer, Before joining Qualcomm, Cathey served as an executive at Micron Technology and MicroDisplay, as well as the head of Investor Relations for PixTech.

$ROKU Lionsgate and The Roku Channel Close Multiyear Output Agreement for Lionsgate Theatrical Films - The agreement will include properties such as the blockbuster JOHN WICK action franchise starring Keanu Reeves, EXPENDABLES 4, featuring an A-list cast of action stars, and BORDERLANDS, directed by Eli Roth and starring Academy Award winner Cate Blanchett, Kevin Hart, Jamie Lee Curtis and Jack Black.
Samuel Meciar's avatar
$7.5m follower assets
$MSFT's transition from legacy licensing model to SaaS significantly turned around Microsoft's downtrend in their financial solvency. We see something similar now happening at $PATH.

obviously Satya Nadella's exceptional leadership has had a significant effect too. Steve Ballmer almost drowned the company IMO.
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Samuel Meciar's avatar
$7.5m follower assets
Brief news 19/4/22
$AAPL says expanding the use of recycled materials across all products, says about 20% of all material they used last year was recycled.

$AMD appointed Hasmukh Ranjan as AMD's Chief Information Officer, previously served in $XLNX as a CIO pre-acquisition. AMD also partnered with Mercedes-AMG Petronas F1 team and provided them their EPYC processors to deliver performance improvement for computational fluid dynamics of approximately 20% compared to their previous system.

$AMZN is reportedly working on a mysterious AR Smart home product.

$ENPH expanded agreement with ADT Solar, a rooftop solar provider which will now exclusively offer Enphase's IQ8 Microinverters for their home energy solution.

$MSFT to allow advertising on its Xbox games.

$PATH announced a partnership with NCS for the deployment of enterprise-grade automation capabilities. The partnership will support NCS in their goal towards becoming the leading technology services firm in Asia Pacific with an automation-first approach to services delivery. The joint go-to-market effort will bring the power of automation to both public and private enterprises from across industries, such as telecommunications, government, and financial services, particularly in high growth markets like Singapore, Australia, and Asia Pacific.

$RBLX down on news that Kim Kardashian's Sex Tape was advertised to her son on Roblox. Roblox has already banned the developer of the game that claimed to have an additional footage of her sex tape from 2007.

$ROKU partnered with FTX crypto exchange to provide customized advertising solutions for them. Roku also introduced Roku's clean room, a privacy-first collaboration environment for advertisers and agencies to use their encrypted data to make planning and measure ad campaigns with Roku easier, without relying on cookies.

$TSLA reportedly has 100k FSD Beta users, actively collecting large chunks of data for Tesla. Reports from Automobilwoche saying Giga Berlin currently at 350 Model Y's per week with plans to ramp this up to 1000 per week by the end of April. Tesla's insurance service launched in Oregon, Virginia and Colorado.

$ZM introduced Zoom Whiteboard, a collaboration canvas for Hybrid Teams.
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