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Fellow investors,
HIMS reported another stellar earnings report yesterday and unlike last time, Andrew's comments did not send the stock into a freefall (yet). Solid beats on both the top and bottom lines were great but expected. However, the real improvements came from the incremental increase in guidance, adoption of personalized treatment offerings, and the company surpassing 2 million subscribers for the first time.
However, not everything is good, so while there is plenty to cheer for, we did highlight some KPIs that we’re tracking and release our math on presumed GLP-1 revenue contribution and what marketing spend tells us about net subscriber growth.
We’ve attached the cover page to our report, with the rest available to paid investors below the paywall for download. As always, if you have any questions, be sure to reach out.
Disc: We’re long HIMS.
Until next time,
Paul Cerro | Cedar Grove Capital
Personal Twitter: @paulcerro
Fund Twitter: @cedargrovecm
Disclaimer: All information provided herein by Cedar Grove Capital Management, LLC (“Cedar Grove Capital”) is for informational purposes only and does not constitute investment advice or an offer or solicitation to buy or sell an interest in a private fund or any other security. An offer or solicitation of an investment in a private fund will only be made to accredited investors pursuant to a private placement memorandum and associated documents.
Cedar Grove Capital may change its views about or its investment positions in any of the securities mentioned in this document at any time, for any reason or no reason. Cedar Grove Capital may buy, sell, or otherwise change the form or substance of any of its investments. Cedar Grove Capital disclaims any obligation to notify the market of any such changes.
The enclosed material is confidential and not to be reproduced or redistributed in whole or in part without the prior written consent of Cedar Grove Capital. The information in this material is only current as of the date indicated and may be superseded by subsequent market events or for other reasons. Statements concerning financial market trends are based on current market conditions, which will fluctuate. Any statements of opinion constitute only current opinions of Cedar Grove Capital which are subject to change and which Cedar Grove Capital does not undertake to update. Due to, among other things, the volatile nature of the markets, and an investment in the fund/partnership may only be suitable for certain investors. Parties should independently investigate any investment strategy or manager, and should consult with qualified investment, legal and tax professionals before making any investment.
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