Allbirds, Inc. Class A Common Stock

Dutch Bros Inc.

FIGS, Inc.

The Honest Company, Inc. Common Stock

Olaplex Holdings, Inc. Common Stock

On Holding AG

Oatly Group AB American Depositary Shares

Rent the Runway, Inc. Class A Common Stock

Sweetgreen, Inc.

Twitter Inc

Warby Parker Inc.

Xponential Fitness, Inc.

Stock-based compensation (SBC_ has gotten out of control with some companies that utilize the line item top boost adj. EBITDA for profitability but can also dilute you.

Prime example is $TWTR. Market Cap >1.5x since IPO while price only up ~2% in the same time


![](https://cdn.commonstock.com/21d3f11ad6bc6effe2c9170d93c75f6b9b07fb00aa3ddfee441b0f5d98fe5683-2400x1240.png?fit=max&w=704)


The link below shows this weeks "Chart of the Week" for the following names

$BROS $RENT $SG $XPOF $OTLY $HNST $ONON $WRBY $FIGS $BIRD $OLPX

The numbers are quite shocking. If you're interested in receiving content like this, hit the subscribe button (it's free!).


[https://cedargrovecapital.substack.com/p/sbc-a-chart-you-dont-want-to-miss?s=w](https://cedargrovecapital.substack.com/p/sbc-a-chart-you-dont-want-to-miss?s=w)

@paulcerro would you enlighten me on this a bit? What is SBC and MC? 

sam stribling

While it technically is a non-cash expense, SBC is helping adj. EBITDA more than you know

https://cedargrovecapital.substack.com/p/sbc-a-chart-you-dont-want-to-miss?s=w

SBC: This Is A Chart You Don't Want To Miss

SBC is a scam to adj. EBITDA and you're getting diluted

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