Fun Facts: - Delivery speeds average 8-day y/y improvement in Q1’23 - Customer order cancellation Rate dropped 56% y/y in Q1’23 - Buyer conversion rate improved by 18% y/y in Q1’23 - Customer retention rate improved by ~10% y/y in Q1’23
Financials: March 2023 Cash Balance: $379 Million
Free Cash Flow: March 2021 ~$350 Million March 2023 ~$90 Million ($260 Million Improvement)
Short Term Investments: March 2021 $154 Million March 2023 $256 Million ($102 Million Improvement)
Total Debts: March 2021 $48 Million March 2023 $18 Million ($30 Million Improvement)
Operating Expenses: March 2021 $563 Million March 2023 $110 Million ($453 Million improvement) * Q3 Savings on Operating Expenses expected to be around $14-$23 Million on Annualized Basis based on 17% workforce reduction *
Current Enterprise Value: March 2021 ~$306 Million (Priced for Bankruptcy)
$50 Million Dollar Share Repurchase Program
Be warned: This info isn't a recommendation for what you should personally do, so please don't take the data as investment advice. As with any trade, always look first, then dive.
We are getting close to the moment of truth. As you pointed out, a lot of things have improved.
I could add some topics on the company / product level (France ban, cost cutting, several promising partnerships, flat rate shipping, app improvement etc.)
If this ship turns around our steps should be (6-9 months from know): - 11-13$ - 20-25$ - 36-50$
Each of these levels was a significant supply zone & should be tested from both sides (up & down). Additionally, when we look at the current management team a lot of things point towards a buyout in mid 2024 or early 2025.
No recommendation from my side. ;-)
AllHart
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@Midyanyy, Love it. Thanks for taking the time to respond. I definitely agree with the buyout timeline because we both know it’s possible but they must turn the ship around first in order to receive serious offers that are worth listening to. Cheers
I could add some topics on the company / product level (France ban, cost cutting, several promising partnerships, flat rate shipping, app improvement etc.)
If this ship turns around our steps should be (6-9 months from know):
- 11-13$
- 20-25$
- 36-50$
Each of these levels was a significant supply zone & should be tested from both sides (up & down).
Additionally, when we look at the current management team a lot of things point towards a buyout in mid 2024 or early 2025.
No recommendation from my side. ;-)