Other question:
❓Is revenue growing?
❓Are margins stable/expanding?
❓Profits?
❓Balance sheet?
❓New opportunities?
❓New threats?
1/ How to review quarterly earnings 🧵
A step by step guide using $DXCM as an example
⬇️
Other question:
❓Is revenue growing?
❓Are margins stable/expanding?
❓Profits?
❓Balance sheet?
❓New opportunities?
❓New threats?
Tab 1 - Current company earnings report / shareholder letter
Tab 2 - Previous company earnings report / shareholder letter (check guidance)
Tab 3 - Analyst estimates
Tab 4 - Call Transcript
I search "Dexcom Investor Relations"
I click on "press release"
Open the newest quarterly earnings report and last quarter
It can also be a shareholder letter/presentation
Open up $DXCM in yahoo finance
The "news" section usually has a link to reports on whether the company beat/met estimates
The "analysis" tab is a good source, but sometimes it updates to the next quarter too quickly
@themotleyfool transcripts are best
Sometimes links are on Yahoo Finance news
Search "Fool DXCM Transcript" if not
Seekingalpha / NASDAQ are two other free sources
Revenue growth: 23% to $569 million
Revenue vs. Wall Street expectations (beat by 1.88%)✅
non-gaap EPS growth: -21% to $0.91
EPS vs. Wall Street expectations (meet expectation)✅
Management issued yearly guidance for 2020 in Q3 2020
Revenue +29% to $1.9 billion (actual +31% to $1.93 billion)✅
Non-GAAP Gross margin 66% (actual 66.7%)✅
Non-GAAP Operating margin 16% (actual 16.5%)✅
Margins
Use transcript / press release / or calculate yourself
Gross 70.2% vs. 66.8% (gross profit grew faster than revenue)
Non-gaap Operating: 18.3% vs. 22.5% (investigate!)
non-gaap Net: 15.8% vs. 22.9% (investigate!)
News from press release?
✅Building out salesforce (explains operating margin & net margin drop)
✅Reimbursement in France
Read through transcript:
✅Gross margin ⬆️ from new manufacturing facility
✅Super bowl commerical
✅New service center in Lithuania
✅New manufacturing site in Malaysia
✅New sensor launching in 2nd half 2021
✅Enter VC space
✅50% of sales now coming through pharmacy
✅International sales 35% of revenue
✅International DTC campaign launching
2021 Guidance:
Revenue:
Management expects 15% to 20% growth
Wall Street expects 21%
Margins:
Gross ⬇️ to 65%
Operating ⬇️ 13%
Management has a long history of under-promising & over-delivering, so I view these numbers as the floor, not the ceiling
More from Brian Feroldi
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𝗡𝗶𝗳𝘁𝘆-𝗕𝗮𝗻𝗸𝗻𝗶𝗳𝘁𝘆 𝗢𝗽𝘁𝗶𝗼𝗻 𝗕𝘂𝘆𝗶𝗻𝗴 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝘆
Complete Backtest and Indicator link
🧵 A Thread 🧵
𝗦𝗲𝘁𝘂𝗽:
🔸 Monthly Option Buying
🔸 50 ema on 3 min timeframe
🔸 Supertrend 10 , 3
🔸 Chart : Banknifty , Nifty Futures as we backtested on futures
🔸 Entry 9:20 to 3:00
🔸 Max 3 Entries per day
🔸 Premium nearest to 200 Rs only
[2/18]
Why Monthly Option buying ?
🔸 Less theta decay compared to weekly options
🔸 Less Volatility
🔸 Supertrend and MA Settings
[3/18]
🔸 Indicator Link
🔸 Click on the below 𝘭𝘪𝘯𝘬 -> 𝘈𝘥𝘥 𝘵𝘰 𝘍𝘢𝘷𝘰𝘶𝘳𝘪𝘵𝘦𝘴 -> 𝘈𝘥𝘥 𝘰𝘯 𝘊𝘩𝘢𝘳𝘵 from favourites and start using it !
🔸 https://t.co/zVXavqLBto
[4/18]
𝗜𝗻𝗱𝗶𝗰𝗮𝘁𝗼𝗿 𝗦𝗲𝘁𝘁𝗶𝗻𝗴𝘀 :
🔸 Max 6 Trades per day ( Both CE and PE buy)
🔸 Timings 9:20 am to 3:00 pm
🔸 Supertrend : 10,3
🔸 Moving Average 50 ema
[5/18]
Complete Backtest and Indicator link
🧵 A Thread 🧵
𝗦𝗲𝘁𝘂𝗽:
🔸 Monthly Option Buying
🔸 50 ema on 3 min timeframe
🔸 Supertrend 10 , 3
🔸 Chart : Banknifty , Nifty Futures as we backtested on futures
🔸 Entry 9:20 to 3:00
🔸 Max 3 Entries per day
🔸 Premium nearest to 200 Rs only
[2/18]
Why Monthly Option buying ?
🔸 Less theta decay compared to weekly options
🔸 Less Volatility
🔸 Supertrend and MA Settings
[3/18]
🔸 Indicator Link
🔸 Click on the below 𝘭𝘪𝘯𝘬 -> 𝘈𝘥𝘥 𝘵𝘰 𝘍𝘢𝘷𝘰𝘶𝘳𝘪𝘵𝘦𝘴 -> 𝘈𝘥𝘥 𝘰𝘯 𝘊𝘩𝘢𝘳𝘵 from favourites and start using it !
🔸 https://t.co/zVXavqLBto
[4/18]
𝗜𝗻𝗱𝗶𝗰𝗮𝘁𝗼𝗿 𝗦𝗲𝘁𝘁𝗶𝗻𝗴𝘀 :
🔸 Max 6 Trades per day ( Both CE and PE buy)
🔸 Timings 9:20 am to 3:00 pm
🔸 Supertrend : 10,3
🔸 Moving Average 50 ema
[5/18]
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The first area to focus on is diversity. This has become a dogma in the tech world, and despite the fact that tech is one of the most meritocratic industries in the world, there are constant efforts to promote diversity at the expense of fairness, merit and competency. Examples:
USC's Interactive Media & Games Division cancels all-star panel that included top-tier game developers who were invited to share their experiences with students. Why? Because there were no women on the
ElectronConf is a conf which chooses presenters based on blind auditions; the identity, gender, and race of the speaker is not known to the selection team. The results of that merit-based approach was an all-male panel. So they cancelled the conference.
Apple's head of diversity (a black woman) got in trouble for promoting a vision of diversity that is at odds with contemporary progressive dogma. (She left the company shortly after this
Also in the name of diversity, there is unabashed discrimination against men (especially white men) in tech, in both hiring policies and in other arenas. One such example is this, a developer workshop that specifically excluded men: https://t.co/N0SkH4hR35
USC's Interactive Media & Games Division cancels all-star panel that included top-tier game developers who were invited to share their experiences with students. Why? Because there were no women on the
ElectronConf is a conf which chooses presenters based on blind auditions; the identity, gender, and race of the speaker is not known to the selection team. The results of that merit-based approach was an all-male panel. So they cancelled the conference.
Apple's head of diversity (a black woman) got in trouble for promoting a vision of diversity that is at odds with contemporary progressive dogma. (She left the company shortly after this
Also in the name of diversity, there is unabashed discrimination against men (especially white men) in tech, in both hiring policies and in other arenas. One such example is this, a developer workshop that specifically excluded men: https://t.co/N0SkH4hR35
THREAD: 12 Things Everyone Should Know About IQ
1. IQ is one of the most heritable psychological traits – that is, individual differences in IQ are strongly associated with individual differences in genes (at least in fairly typical modern environments). https://t.co/3XxzW9bxLE
2. The heritability of IQ *increases* from childhood to adulthood. Meanwhile, the effect of the shared environment largely fades away. In other words, when it comes to IQ, nature becomes more important as we get older, nurture less. https://t.co/UqtS1lpw3n
3. IQ scores have been increasing for the last century or so, a phenomenon known as the Flynn effect. https://t.co/sCZvCst3hw (N ≈ 4 million)
(Note that the Flynn effect shows that IQ isn't 100% genetic; it doesn't show that it's 100% environmental.)
4. IQ predicts many important real world outcomes.
For example, though far from perfect, IQ is the single-best predictor of job performance we have – much better than Emotional Intelligence, the Big Five, Grit, etc. https://t.co/rKUgKDAAVx https://t.co/DWbVI8QSU3
5. Higher IQ is associated with a lower risk of death from most causes, including cardiovascular disease, respiratory disease, most forms of cancer, homicide, suicide, and accident. https://t.co/PJjGNyeQRA (N = 728,160)
1. IQ is one of the most heritable psychological traits – that is, individual differences in IQ are strongly associated with individual differences in genes (at least in fairly typical modern environments). https://t.co/3XxzW9bxLE
2. The heritability of IQ *increases* from childhood to adulthood. Meanwhile, the effect of the shared environment largely fades away. In other words, when it comes to IQ, nature becomes more important as we get older, nurture less. https://t.co/UqtS1lpw3n
3. IQ scores have been increasing for the last century or so, a phenomenon known as the Flynn effect. https://t.co/sCZvCst3hw (N ≈ 4 million)
(Note that the Flynn effect shows that IQ isn't 100% genetic; it doesn't show that it's 100% environmental.)
4. IQ predicts many important real world outcomes.
For example, though far from perfect, IQ is the single-best predictor of job performance we have – much better than Emotional Intelligence, the Big Five, Grit, etc. https://t.co/rKUgKDAAVx https://t.co/DWbVI8QSU3
5. Higher IQ is associated with a lower risk of death from most causes, including cardiovascular disease, respiratory disease, most forms of cancer, homicide, suicide, and accident. https://t.co/PJjGNyeQRA (N = 728,160)
