$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%)
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?
42%Coupang
31%Roblox
15%DigitalOcean
10%Global-e Online
19 VotesPoll ended on: 05/02/22
Upcoming Earnings Calendar (Feb 21th - 25th)
Hey guys! Here's the upcoming earnings calendar! Several very interesting reports coming up. Here's what I'll be looking forward to.

  • $MELI - How much did inflation impact their logistics margins?
  • $SQ - Cash App Users and Revenue Growth
  • $COIN - I think they will deliver a monster quarter. Crypto volatility should incentivize trading, driving commissions revenue above forecast.

If you'd like an easier way to track earnings dates, you can automatically sync your portfolio's earning dates to your personal calendar with just a couple of clicks here.

TUE:


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Next week's (Sep 7 - 11) featured earnings
Happy Labor day weekend. Here are some interesting earnings from the next 4-day week.

No companies in my portfolio, but I'll be closely watching $COUP (looking for bookings and RPO growth) $SMAR (will be comparing to the growth at $MNDY and $ASAN) $LULU (mirror sales and traction on male clothing) $AFRM (any more color on $AMZN deal)

Which companies are you excited to hear from and are you looking for anything specific from the call.

P.S. If you want an easy way to NEVER forget an earnings call, you can use the Fincredible service to automatically sync earning events to your personal calendar for the companies you follow here

TUE:

WED:

THUR:

FRI:BMO: $KR $SY $TIGR
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Don't own it but absolutely love $RH. Fairly similar target market to $LULU which also reports. Will be interesting to get more info on the Mirror acquisition by LULU, if any.
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