Elite Pro en @eToro 🇪🇸 Analizo empresas y opino sobre ellas. Comparto mi cartera en abierto. ✍️ Substack: https://teapawt.net/t.co/EysU50qbwV
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Iván retweeted
Did it hit you that a centibillionaire, Jensen Huang, is less free than a random plumber?
Iván retweeted
1/
How $HIMS plans to disrupt healthcare with AI.
A thread, chart by chart
100X potential.
🧵
Iván retweeted
🚨🚨 Beautiful story. Real entrepreneurship masterclass.
Definitely has the look of a “we’re about to raise a few hundred million” post💰
Funny how they proudly show revenue per employee… but somehow never mention CAC or marketing as % of revenue.
Also hearing that a meaningful chunk of “their employees” aren’t actually on their payroll, so those costs conveniently sit outside the headcount math.
📈Anyway, good luck on the next raise.
They painted a very pretty picture.
I’m looking forward to them going public so we can properly compare the metrics with $HIMS
The @himshouse bears will be thrilled to switch over to Ro House the second it happens.
Makes me even more bullish on $HIMS now that @AndrewDudum is slamming the brakes on weight-loss marketing. When the meds are available everywhere, CAC gets brutal fast.
Iván retweeted
El próximo año $CHTR se va a cascar 8.5bn de FCF.
Actualmente el enterprise value son 126bn de los que el equity supone 19bn, es decir 2x FCF.
A eso le añadís que la compañía quiere bajar el apalancamiento de 3.9 a 3.5x (-11%), que serían 12bn menos de deuda para 2028.
Los bonos cotizan a 70centimos el dólar, y han dicho que van a destinar el FCF a la deuda. Veo super factible que en vez de 12bn, reduzcan el apalancamiento entre 20-30%.
Te quedas con 80-70bn de deuda.
A eso le añadís que los próximos 4 años van a generar probablemente 40-50bn de FCF, nos quedamos con 50bn de deuda neta.
Manteniendo el enterprise value en 126bn serían 76bn de equity value. Solo con eso es un 5x.
Además, la compañía está cotizando a 4.6x EBITDA de 2027, cuando históricamente ha cotizado a 8-10x.
A eso le añadís un crecimiento en ventas del 5-6% anual con expansión de márgenes (líneas móviles + pricing amplían margen) y crece al 7-9% el EBITDA.
Estarán haciendo para 2030 unos 36bn de EBITDA. A 8x eso son unos 300bn de enterprise value, le quitáis los 50bn de deuda neta, y os sale un equity value de 250bn.
Eso es un 13x los 19bn de ahora para 2030.
Todo esto, sin tener en cuenta toda la opcionalidad que hay si se meten fuerte en el negocio de networking para DCs que es lo que ya están haciendo.
Esto va a ser una barbaridad.
gutierrezcapitalresearch.sub…
Iván retweeted
My gut says Ro has been spending hard on GLP-1 marketing burning a ton of cash, and this article plus the podcast tour looks like groundwork for a raise. All the VC accounts cheering in the comments don't hurt that read.
If so, CAC is probably at levels that don't last. Andrew passed on that game with $HIMS shareholder money and chose to market a full membership with more value per dollar and better unit economics instead at a later date, done properly.
The recent $HIMS selloff likely makes any Ro raise harder too, since cheaper public comps mean more dilution.
The piece reads defensive to me. I think Andrew is playing a longer game than people give him credit for and is 10 steps ahead.
Ro seems to be locked in this year, and from this article I get the feeling they’re ramping up for an IPO.
It’s framed as lessons for founders, but read it closely and it’s a pitch. And the company it’s being measured against is never named. It’s $HIMS.
Why it reads like IPO prep:
- He says “there’s only one leader.” Leader compared to who? There’s really only one other player at this scale.
- The numbers he picked are run-rate, 3-year CAGR, revenue per employee, opex under 15%. That’s what you show bankers.
- He lists the companies doing $2B+ and growing 50%+ and says none are in healthcare. Except Ro. He wants to be valued like the AI labs, not a telehealth company.
- He answers “you’re just a GLP-1 company” and “you just rode a wave” before anyone asks. Those are the exact questions on an IPO roadshow.
What I didn’t see: gross margin, profitability, CAC, or how much of that revenue just flows through to Lilly and Novo. Also the $3B is November revenue times 12, not an actual year.
To be fair, going from where they were in 2021 to this with fewer people is really impressive.
But he calls Ro a steakhouse. Best at one thing.
Hims is building a Costco. Weight loss, hair, skin, sexual health, hormones, menopause, labs, genetics. Own pharmacies, own manufacturing, and now peptides and Lilly on top.
I think over time people go where one membership gives them the most for their money. Being great at one thing is a good business. Being the place people go for everything healthcare is a generational company that could be worth trillions.
Don’t mistake focus for a moat. Fitbit and Diapers.com were also very focused.
I own $HIMS, not advice.
Iván retweeted
In my view, Andrew Dudum’s number one mistake may have been taking $HIMS public in 2021.
As a long investor, I’ll always be grateful for that opportunity. But in hindsight, it was probably far too early, given the sheer scale of what Hims is trying to build.
Hims is basically still a startup, except it’s trying to build an entire personalized healthcare platform in full public view, under the watchful eyes of investors, most of whom can’t see any further into the future than a weather forecast.
And yet, I suspect this monumental task of balancing a long-term platform buildout with the market’s obsession over the next quarter will ultimately make Andrew a much better founder and CEO. It’s an extraordinary learning experience, even if a rather painful one.
Don’t forget, Andrew is only 38. It’s incredibly rare to see someone that young with this much experience leading a publicly traded company, navigating regulatory battles, international expansion, acquisitions, partnerships, and the relentless pressure of quarterly expectations.
What I find particularly interesting is how aggressively he continues to prioritize the future, even when it comes at the expense of the present. That’s an increasingly rare quality in public markets. You almost have to go back to Amazon in the early 2000s to find a similarly striking example of a young founder willing to endure extraordinary short-term pain to build something much larger.
I believe $HIMS will eventually get there. But the road won’t be all sunshine and rainbows.
This is not investment advice. Always do your research.
Iván retweeted
I am thrilled to join the Board & Advisory of Hims & Hers! The platform @AndrewDudum & Co. have built & are evolving for comprehensive telehealth incl. cardiovascular & hormone health & peptides (GLPs & more) w/start to finish (raw materials incl.) made in USA is making health & vigor available to everyone.
Our Q3 2026 results are now live!
We believe that in healthcare, whoever owns the customer relationship wins. We’re building an everyday digital health platform that millions of people can rely on, not just for a single treatment, but for the whole experience of getting and staying well. We’re making substantial progress: revenue growth accelerated to nearly 50% this quarter. Nearly three million people across four continents rely on us to access care.
Here’s how we’re continuing to push forward:
- Winning metabolic health. For many people, the relationship with Hims & Hers starts with weight loss, and we’re making care easier to access: one seamless experience across an assortment of weight loss medicines, including from @novonordisk and @EliLillyandCo, more flexible multi-month subscriptions that we’re preparing ahead of the new year, and an AI-native experience that now reaches the large majority of weight loss customers.
- Winning the major global markets: International revenue grew more than 4x year-over-year to $233 million, and is on track to reach a $1 billion annual run rate in 2027. Our reach now spans four continents, and we’re introducing the Hims & Hers brands to new markets, including Australia and Germany.
- Staying at the forefront of category expansion: Our platform helps us go deeper into complex care and launch specialties faster. For example, we launched controlled substances for the first time with injectable and oral TRT, and we’re excited to be launching our Peptides+ offering later this month.
We also announced today that @hubermanlab is joining our Board of Directors, and he’s also joining us as an advisor. I’ve spent a lot of time with Andrew over the past year and we’re in lock step on what matters: making the latest health innovations accessible and actionable for people everywhere.
This is how we’re building the platform that will redefine how people access healthcare. I can’t wait for you to see what comes next.
More on this quarter’s results, including important disclaimers: news.hims.com/newsroom/how-w…
Iván retweeted
🚨 $HIMS cae un 10% y parece que algunos prefieren salir antes de los resultados.
Para mí, comprar o vender solo por adivinar qué pasará esta noche es jugar a la lotería. Mejor ir al casino!
-Vendes y sube un 20%: cara de tonto.
-Compras y cae un 20%: la misma cara.
Se ha desplomado tras 5 de las últimas 6 presentaciones, eso si. Pero nadie sabe lo que hará tras esta.
Nos están haciendo el desplome preventivo para ahorrar tiempo? 😂
Iván retweeted
Ayer me afanaron 5 cifras del segundo pago de la renta. Se me cae la puta moral al suelo. Es insufrible.
-Vas con el culo prieto en el tren...
-Están las carreteras que dan pena...
-No puedes ir a médico especialista en menos de 3 meses así que a pagar privada
-Las calles cada vez dan mas asco
-No puede ir un niño/a solo por la calle por lo que vaya a pasar
- Igual que entra a calabozo un delincuente sale por la puerta de atrás.
-Se premia la vaguería y se expolia al que se deja los cuernos.
Hasta cuándo?
El Gobierno concede 733 euros al mes de Ingreso Mínimo Vital a las personas que viven con sus padres, incluso si tienen más de 30 años
eleconomista.es/economia/not…
Iván retweeted
HHS just took a step toward the exact future that we’ve built for – bringing peptides out of the gray market, with clinician oversight and quality starting at the source. We’ve taken it one step further by building a US-based supply chain and infrastructure that our customers can trust.
This is encouraging progress. More to come.
At Hims & Hers, we’re encouraged to see the administration make meaningful progress towards expanding access to peptide therapies through this draft interim policy. As more and more Americans seek these treatments, it is critical to have regulated channels, clinician oversight, quality standards, and transparency - none of which exist in the current gray market.
Our goal has always been to define what responsible access to care looks like. We have spent years building the infrastructure we need in our very own US-based peptide manufacturing facility, developing dosing protocols with clinical experts, and setting up frameworks to better understand these emerging treatments.
We'll keep working to bring these treatments within reach of those who need them, with more news to come soon.
Iván retweeted
En España tenemos un problema de incentivos.
Si robar, corromperse o gestionar mal sale gratis, ¿qué incentivo hay para hacerlo bien?
Si Óscar Puente se jugara su vida porque un accidente con muertos por falta de mantenimiento significa que te cuelgan boca abajo en la Puerta del Sol, el siguiente ministro se tomaría muy en serio el mantenimiento de infraestructuras.
Sin consecuencias, nada cambia.