Other question:
❓Is revenue growing?
❓Are margins stable/expanding?
❓Profits?
❓Balance sheet?
❓New opportunities?
❓New threats?
1/ How to review quarterly earnings 🧵
A step by step guide using $DXCM as an example
⬇️
Other question:
❓Is revenue growing?
❓Are margins stable/expanding?
❓Profits?
❓Balance sheet?
❓New opportunities?
❓New threats?
Tab 1 - Current company earnings report / shareholder letter
Tab 2 - Previous company earnings report / shareholder letter (check guidance)
Tab 3 - Analyst estimates
Tab 4 - Call Transcript
I search "Dexcom Investor Relations"
I click on "press release"
Open the newest quarterly earnings report and last quarter
It can also be a shareholder letter/presentation
Open up $DXCM in yahoo finance
The "news" section usually has a link to reports on whether the company beat/met estimates
The "analysis" tab is a good source, but sometimes it updates to the next quarter too quickly
@themotleyfool transcripts are best
Sometimes links are on Yahoo Finance news
Search "Fool DXCM Transcript" if not
Seekingalpha / NASDAQ are two other free sources
Revenue growth: 23% to $569 million
Revenue vs. Wall Street expectations (beat by 1.88%)✅
non-gaap EPS growth: -21% to $0.91
EPS vs. Wall Street expectations (meet expectation)✅
Management issued yearly guidance for 2020 in Q3 2020
Revenue +29% to $1.9 billion (actual +31% to $1.93 billion)✅
Non-GAAP Gross margin 66% (actual 66.7%)✅
Non-GAAP Operating margin 16% (actual 16.5%)✅
Margins
Use transcript / press release / or calculate yourself
Gross 70.2% vs. 66.8% (gross profit grew faster than revenue)
Non-gaap Operating: 18.3% vs. 22.5% (investigate!)
non-gaap Net: 15.8% vs. 22.9% (investigate!)
News from press release?
✅Building out salesforce (explains operating margin & net margin drop)
✅Reimbursement in France
Read through transcript:
✅Gross margin ⬆️ from new manufacturing facility
✅Super bowl commerical
✅New service center in Lithuania
✅New manufacturing site in Malaysia
✅New sensor launching in 2nd half 2021
✅Enter VC space
✅50% of sales now coming through pharmacy
✅International sales 35% of revenue
✅International DTC campaign launching
2021 Guidance:
Revenue:
Management expects 15% to 20% growth
Wall Street expects 21%
Margins:
Gross ⬇️ to 65%
Operating ⬇️ 13%
Management has a long history of under-promising & over-delivering, so I view these numbers as the floor, not the ceiling
More from Brian Feroldi
1/ The Queen's Gambit is apparently causing demand for chess to surge!
I play daily and coach at my kid's school, so I love seeing the interest
If you're want to learn about chess, here are some great free resources (thread)
2/ How to play & basics
Great YouTube
3/ Opening principles
https://t.co/DGpYH4FzY2
@thechesswebsite
4/ Common beginner
5/ Advanced topics
Chess Holes:
https://t.co/hBwFFjV7RC
6 Power Moves of
I play daily and coach at my kid's school, so I love seeing the interest
If you're want to learn about chess, here are some great free resources (thread)
2/ How to play & basics
Great YouTube
3/ Opening principles
https://t.co/DGpYH4FzY2
@thechesswebsite
4/ Common beginner
5/ Advanced topics
Chess Holes:
https://t.co/hBwFFjV7RC
6 Power Moves of
Last week, I asked my followers to share their favorite Twitter threads
I receive tons of wonderful replies and read through them all
Here are 31 amazing threads that are well worth your time ⬇️
1/ @10kdiver on
2/ @aaronbush100 on 20 semi-controversial investing
3/ @annieduke on category
4/ @awilkinson on losing
I receive tons of wonderful replies and read through them all
Here are 31 amazing threads that are well worth your time ⬇️
1/ @10kdiver on
1/
— 10-K Diver (@10kdiver) April 10, 2021
Get a cup of coffee.
In this thread, I'll walk you through the basics of leverage -- in our personal lives and in the companies we invest in. pic.twitter.com/9MilmwE9f7
2/ @aaronbush100 on 20 semi-controversial investing
20 semi-controversial investing beliefs [THREAD]:
— Aaron Bush (@aaronbush100) May 24, 2020
3/ @annieduke on category
The most dangerous category of poor decisions are ones that remain easily hidden from view because any instance of that type of decision is so easy to rationalize.
— Annie Duke (@AnnieDuke) October 7, 2020
1/12
4/ @awilkinson on losing
This is a story about how I lost $10,000,000 by doing something stupid.
— Andrew Wilkinson (@awilkinson) March 30, 2021
Ten. Million. Dollars.
Literally up in smoke. Money bonfire.
That\u2019s enough to retire with $250,000+ in annual income.
Here\u2019s what happened\u2026
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𝗡𝗶𝗳𝘁𝘆-𝗕𝗮𝗻𝗸𝗻𝗶𝗳𝘁𝘆 𝗢𝗽𝘁𝗶𝗼𝗻 𝗕𝘂𝘆𝗶𝗻𝗴 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝘆
Complete Backtest and Indicator link
🧵 A Thread 🧵
𝗦𝗲𝘁𝘂𝗽:
🔸 Monthly Option Buying
🔸 50 ema on 3 min timeframe
🔸 Supertrend 10 , 3
🔸 Chart : Banknifty , Nifty Futures as we backtested on futures
🔸 Entry 9:20 to 3:00
🔸 Max 3 Entries per day
🔸 Premium nearest to 200 Rs only
[2/18]
Why Monthly Option buying ?
🔸 Less theta decay compared to weekly options
🔸 Less Volatility
🔸 Supertrend and MA Settings
[3/18]
🔸 Indicator Link
🔸 Click on the below 𝘭𝘪𝘯𝘬 -> 𝘈𝘥𝘥 𝘵𝘰 𝘍𝘢𝘷𝘰𝘶𝘳𝘪𝘵𝘦𝘴 -> 𝘈𝘥𝘥 𝘰𝘯 𝘊𝘩𝘢𝘳𝘵 from favourites and start using it !
🔸 https://t.co/zVXavqLBto
[4/18]
𝗜𝗻𝗱𝗶𝗰𝗮𝘁𝗼𝗿 𝗦𝗲𝘁𝘁𝗶𝗻𝗴𝘀 :
🔸 Max 6 Trades per day ( Both CE and PE buy)
🔸 Timings 9:20 am to 3:00 pm
🔸 Supertrend : 10,3
🔸 Moving Average 50 ema
[5/18]
Complete Backtest and Indicator link
🧵 A Thread 🧵
𝗦𝗲𝘁𝘂𝗽:
🔸 Monthly Option Buying
🔸 50 ema on 3 min timeframe
🔸 Supertrend 10 , 3
🔸 Chart : Banknifty , Nifty Futures as we backtested on futures
🔸 Entry 9:20 to 3:00
🔸 Max 3 Entries per day
🔸 Premium nearest to 200 Rs only
[2/18]
Why Monthly Option buying ?
🔸 Less theta decay compared to weekly options
🔸 Less Volatility
🔸 Supertrend and MA Settings
[3/18]
🔸 Indicator Link
🔸 Click on the below 𝘭𝘪𝘯𝘬 -> 𝘈𝘥𝘥 𝘵𝘰 𝘍𝘢𝘷𝘰𝘶𝘳𝘪𝘵𝘦𝘴 -> 𝘈𝘥𝘥 𝘰𝘯 𝘊𝘩𝘢𝘳𝘵 from favourites and start using it !
🔸 https://t.co/zVXavqLBto
[4/18]
𝗜𝗻𝗱𝗶𝗰𝗮𝘁𝗼𝗿 𝗦𝗲𝘁𝘁𝗶𝗻𝗴𝘀 :
🔸 Max 6 Trades per day ( Both CE and PE buy)
🔸 Timings 9:20 am to 3:00 pm
🔸 Supertrend : 10,3
🔸 Moving Average 50 ema
[5/18]
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Recently, the @CNIL issued a decision regarding the GDPR compliance of an unknown French adtech company named "Vectaury". It may seem like small fry, but the decision has potential wide-ranging impacts for Google, the IAB framework, and today's adtech. It's thread time! 👇
It's all in French, but if you're up for it you can read:
• Their blog post (lacks the most interesting details): https://t.co/PHkDcOT1hy
• Their high-level legal decision: https://t.co/hwpiEvjodt
• The full notification: https://t.co/QQB7rfynha
I've read it so you needn't!
Vectaury was collecting geolocation data in order to create profiles (eg. people who often go to this or that type of shop) so as to power ad targeting. They operate through embedded SDKs and ad bidding, making them invisible to users.
The @CNIL notes that profiling based off of geolocation presents particular risks since it reveals people's movements and habits. As risky, the processing requires consent — this will be the heart of their assessment.
Interesting point: they justify the decision in part because of how many people COULD be targeted in this way (rather than how many have — though they note that too). Because it's on a phone, and many have phones, it is considered large-scale processing no matter what.
It's all in French, but if you're up for it you can read:
• Their blog post (lacks the most interesting details): https://t.co/PHkDcOT1hy
• Their high-level legal decision: https://t.co/hwpiEvjodt
• The full notification: https://t.co/QQB7rfynha
I've read it so you needn't!
Vectaury was collecting geolocation data in order to create profiles (eg. people who often go to this or that type of shop) so as to power ad targeting. They operate through embedded SDKs and ad bidding, making them invisible to users.
The @CNIL notes that profiling based off of geolocation presents particular risks since it reveals people's movements and habits. As risky, the processing requires consent — this will be the heart of their assessment.
Interesting point: they justify the decision in part because of how many people COULD be targeted in this way (rather than how many have — though they note that too). Because it's on a phone, and many have phones, it is considered large-scale processing no matter what.
Moderna CEO Stephane Bancel was previously CEO of bioMerieux in France from 07-10.
Alain Merieux, who owns bioMerieux, was instrumental in the creation of the Wuhan Institute of Virology P4 Lab.
The same people who helped create the virus, also helped to create the vaccines...
Moderna partnered with French Pasteur Institute in 2015 to develop mRNA vaccine technology.
Pasteur Institute partnered with the Wuhan P4 Laboratory in 2017 along with the Merieux Foundation to study emerging viruses...
https://t.co/yFsHwrNYaK
https://t.co/9M5lydBKhM
Nobel prize winning scientist Luc Montagnier asserts that Sars-Cov-2 is man-made and originated from the Wuhan Institute of Virology.
Montagnier did extensive work with the Pasteur Institute in France which was partnered with the Wuhan P4.
Merieux Foundation & the Chinese government have worked together since 1965, and partnered to study emerging pathogens in Africa in 2015.
Their research included "PATHOGENS CARRIED BY BATS" that provoke respiratory diseases.
🚨🚨🚨
https://t.co/gVwpT0ssqI
Alain Merieux, who owns bioMerieux, was instrumental in the creation of the Wuhan Institute of Virology P4 Lab.
The same people who helped create the virus, also helped to create the vaccines...
Moderna partnered with French Pasteur Institute in 2015 to develop mRNA vaccine technology.
Pasteur Institute partnered with the Wuhan P4 Laboratory in 2017 along with the Merieux Foundation to study emerging viruses...
https://t.co/yFsHwrNYaK
https://t.co/9M5lydBKhM
Nobel prize winning scientist Luc Montagnier asserts that Sars-Cov-2 is man-made and originated from the Wuhan Institute of Virology.
Montagnier did extensive work with the Pasteur Institute in France which was partnered with the Wuhan P4.
Merieux Foundation & the Chinese government have worked together since 1965, and partnered to study emerging pathogens in Africa in 2015.
Their research included "PATHOGENS CARRIED BY BATS" that provoke respiratory diseases.
🚨🚨🚨
https://t.co/gVwpT0ssqI
