Inside Scoop

ABOUT AVORY & CO.

Chapters

00:00 Square's Focus on Product and Profitable Growth

01:14 Exceeding Guidance and Share Buyback

03:11 Strong Performance in the Cash App Ecosystem

06:33 Expanding Partnerships and Streamlining the App

ABOUT AVORY & CO.

Avory is an investor is Fiverr at the time of this and this is not a recommendation.

00:00 Earnings and Future Outlook

01:23 Acquisition of AutoDS

03:46 Record EBITDA Margin and Revenue Growth

05:39 Attracting Higher-Value Buyers and Increasing Spend per Buyer

06:35 Take Rate and Revenue from Value-Added Services

09:29 Balance Sheet and Future Growth

ABOUT AVORY & CO.

Avory & Co is an asset manager focused on Investing Where the World is Headed. Managing high-conviction equity strategies, emphasizing Secular Growth and Transformation Stories. We seek exceptional teams.

Chapters

00:00 Introduction

01:24 Meta's Financial Performance

02:22 Success of VR and AR Experiences

05:36 Embedding AI Across Platforms

08:00 CapEx and AI Development

13:45 Conclusion

Sean Emory, the founder and Chief Investment Officer at Avory & Co. breaks down Google's earnings report and highlights the strong performance of its cloud business, with revenue reaching $84 billion and operating margins expanding.

Google Cloud surpassed $10 billion in a single quarter and generated $1 billion in operating profit. However, YouTube's revenue missed expectations, although it still experienced low double-digit growth.

The report also emphasizes Google's focus on AI, with 1.2 million developers working on their platforms and the introduction of the Gemini model for generative search.

The earnings call discussed the potential of AI to generate profits and revenue for Google, but it is still early in the journey. Overall, Google had a good quarter, showing growth and profitability.

Chapters

00:00 Introduction and Overview

00:30 State of the Quarter: Strong Performance of Google's Cloud Business

02:25 State of the Quarter: YouTube's Revenue Misses Expectations

03:54 State of AI: Google's Focus on AI and the Gemini Model

05:51 State of AI: The Potential of AI for Google's Revenue

08:19 General Takeaway: Google's Overall Good Quarter

In this conversation, Sean Emory, founder and Chief Investment Officer at Avory & Co. discusses the potential of Tesla's full self-driving capabilities and its impact on the market.

He explores the different approaches to autonomous vehicles, comparing Tesla's camera-based approach to Waymo's LiDAR-based approach.

Sean also delves into the market potential of autonomous vehicles, considering the number of vehicles on the road and the cost of autonomous technology.

He raises questions about Tesla's position in the market and the future of hybrid vehicles.

Overall, Sean emphasizes the importance of full self-driving technology and its potential impact on Tesla's valuation.

Summary

Fiverr reported strong earnings, beating their own guidance on revenue and adjusted EBITDA. The company has been impacted by the health of the economy and concerns around AI, but they have addressed these issues and showcased the positive impact of AI on their platform. Fiverr is focused on moving upmarket and increasing spend per buyer, while also improving their take rate through promoted gigs and their Seller Plus platform. They have seen growth in complex services and repeat buyers, indicating a strong recurring nature of the business. Fiverr plans to expand their Generative AI Search and launch new products in the future.

Chapters

00:00 Fiverr's Strong Earnings Performance

02:29 Addressing Concerns: Economy and AI

06:40 Moving Upmarket and Increasing Spend per Buyer

08:33 Improving Take Rate with Promoted Gigs and Seller Plus

12:47 Growth in Complex Services and Repeat Buyers

13:45 Expanding Generative AI Search and New Product Launches

Summary

Dutch Bros and Starbucks are taking different approaches in the coffee market. Dutch Bros focuses on decadent offerings and drive-through service, while Starbucks offers a mass-market, somewhat premium experience. Dutch Bros is experiencing strong growth in units, revenue, and same-store sales, while Starbucks is seeing negative same-store sales. Dutch Bros emphasizes brand identity, customer service, and experiential moments, while Starbucks is leaning towards discounting to bring back customers. We break it down more.

Chapters

00:00 Introduction and Background

02:26 Dutch Bros' Growth: Units, Revenue, and Margins

03:24 Starbucks' Challenge: Negative Same-Store Sales

05:45 The Importance of Brand Identity and Customer Service

09:33 Starbucks' Strategy: Discounting

11:29 Retail Sales Trends

This week's Inside Scoop covers the Fed's stance on inflation and jobs, as well as earnings reports from companies like Square, Apple, Zillow, and Omnicell.

The Fed expressed neutrality towards inflation and jobs, while the conversation around inflation focused on its moderation. Square had an incredible quarter, with a pivot to profitability and a focus on Bitcoin. Apple reported a decline in revenue, but services and Mac sales grew. Omnicell beat their own guidance and saw improvement in the hospital system. Zillow reported strong earnings, with a focus on rentals and their mortgage business.

08:10 Tesla's Revenue and Margin Challenges

13:47 Summary and Conclusion

In this episode, Sean Emory, Founder of Avory reviews Block's earnings and focuses on the two main segments: Cash App and Square.

Overall the messaging from management emphasizes a focus on growth and efficiency. The discussion highlights the efforts to build a suite of banking solutions within Cash App and the focus on productivity and margin expansion. The performance and growth of the company are analyzed, with a particular focus on Cash App's user base and the success of Cash App Borrow and Cash App Pay. The incorporation of Afterpay and the threat it poses to competitors is also discussed, as well as the focus on Square's offerings.

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