I think it’s finally time for THG to file the necessary SEC paperwork, so my September 2022 MyProtein prediction can become a reality. THG (aka the company formerly known as The Hut Group) recently updated the public markets by releasing its 2023 Q3 earnings report. I’ll be utilizing that financial information, along with notes I took listening to the earnings conference call, and any relevant publicly disclosed information to obviously update you on the recent performance of THG Nutrition division that includes the world's largest online sports nutrition brand MyProtein, but also utilize everything to provide insights surrounding the global supplement markets. For those unaware, THG is self-described as “a vertically integrated, digital-first consumer brands group, retailing its own brands in beauty and nutrition, plus third-party brands, via its complete digital commerce solution, Ingenuity, to an online and global customer base.” During the third quarter of 2023, divisional revenue for THG Nutrition was approximately $195 million, which was down 2.3% YoY. If we look at THG Nutrition segment revenue for the first 9 months of 2023, it generated about $619 million…which was up 0.4% YoY. Why are these growth rate low? especially if we look out over the last two years (being up only 3.7% in that period)? I'll dive into several things going on here at MyProtein including: its ecommerce sales channel strategy, integration of supply side acquisitions, MyProtein rebrand causing short-term revenue impacts, and pricing strategy in an inflationary environment. Though it only makes up one-third of the total portfolio revenue, THG Nutrition accounts for almost all its profitability. While THG Nutrition isn’t a standalone business, strategy within the segment (over the last two years) has been focused on creating optionality. I predict that sets THG up to spun-off its “nutrition segment” into a standalone public company. This new entity will likely IPO in the U.S. markets because of the more favorable market conditions. Finally, I dive into arguably the top 3 growth drivers that THG Nutrition needs to focus on over this next year to make themselves more attractive to the U.S. investment community.

FOLLOW ME ON MY SOCIAL MEDIA ACCOUNTS