This piece contains a brief Hims earnings snapshot, a Mercado Libre earnings review & a Palantir earnings review. The Hims review (with far more detail) will come tomorrow with a Lemonade review. At first glance, the Hims quarter looks like a weaker performance than they’ve delivered in a while. Not terrible and also not as good as we’ve grown to expect from them. As most of you know, I’m not a bull here, but I need to read the transcript and letter before commenting further. Stay tuned.

In case you missed it:

• Amazon & Microsoft Earnings Reviews

• Meta & Robinhood Earnings Reviews

• SoFi & PayPal Earnings Reviews

• Alphabet & Tesla Earnings Reviews.

• Chipotle Earnings Review.

• ServiceNow Earnings Review.

• Netflix & Taiwan Semi Earnings Reviews.

• Starbucks & Apple Earnings Reviews.

• Current Nerd Portfolio & Performance.

Table of Contents

• 1. Hims (HIMS) — Earnings Snapshot

  • a. Demand

  • b. Profits & Margins

  • c. Balance Sheet

  • d. Guidance & Valuation

• 2. Mercado Libre (MELI) — Earnings Review

  • a. Mercado Libre 101

  • b. Key Points

  • c. Demand 

  • d. Profits & Margins

  • e. Credit Health

  • f. Balance Sheet

  • g. Valuation

  • h. Call, Letter & Presentation

  • i. Take

• 3. Palantir (PLTR) — Earnings Review

  • a. Palantir 101

  • b. Key Points

  • c. Demand

  • d. Profits & Margins

  • e. Balance Sheet

  • f. Guidance & Valuation

  • g.  Call & Release

  • h. Take

1. Hims (HIMS) — Earnings Snapshot

a. Demand

• Missed revenue estimates by 1.3% but beat guidance by 0.9%.

• Missed subscriber estimates by 2.5%.

• Missed revenue per subscriber estimates by 1.4%.

b. Profits & Margins

• Beat GAAP GPM estimates by 60 basis points (bps; 1 basis point = 0.01%).

• Beat EBITDA estimates by 14.1% & beat guidance by 17.4%.

• Beat $0.16 EPS estimates by a penny.

c. Balance Sheet

• $1.12B in cash & equivalents.

• $969M in senior notes.

• 9.3% Y/Y share dilution.

d. Guidance & Valuation

• Reiterated annual revenue guide, which met estimates.

• Reiterated annual EBITDA guide, which missed estimate by 1.3%.

• Q3 revenue guide slightly missed estimates.

• Q3 EBITDA guide missed estimates by 14.5%.

Hims trades for 58x forward EPS. EPS is expected to grow by 32% this year and by 43% next year. Estimates should be stable following the annual guidance reiteration.

2. Mercado Libre (MELI) — Earnings Review

a. Mercado Libre 101

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