Isaac Melin

Urology resident, novice investor, hockey fan

[Isaac Melin @MelonsMangos]

@chitchatstocks @CCM_Brett At somepoint this becomes an overreaction but I have no idea when

[Isaac Melin @MelonsMangos]

@chitchatstocks @CCM_Brett When does $UNH become interesting

[Stock Market Nerd @StockMarketNerd]

$NU has:

1. 59% of Brazil's adult population... yet grew customers 14% Y/Y.
2. 12% of Mexico's adult population 6 years after launch. Customers rose 70% Y/Y.
3. 8% of Colombia's adult population 4 years after launch. Customers more than tripled Y/Y.

Kinda good... I guess.

[Wolf of Harcourt Street @wolfofharcourt]

$SE Q1 2025 Earnings in Charts - a Thread

Here are 5 of the most eye-catching:

1. Gross Merchandise Volume

[Wolf of Harcourt Street @wolfofharcourt]

$SE earnings are OUT

Revenue: $4.84 billion +30% YoY (Est $4.89 billion 🔴)

EPS: $0.65 vs ($0.04) YoY (Est $0.61 🟢)

[Plant @plantmath1]

$CPNG Growth in Avg Revenue per Customer, Constant Currency
1Q25 +6%
4Q24 +6%
3Q24 +8%
2Q24 +5%
1Q24 +3%
4Q23 +3%
3Q23 +4%
2Q23 +10%
1Q23 +14%

Impressive execution and recovery after slower growth due to rebasing in '24.

[Isaac Melin @MelonsMangos]

@LogicalThesis @AboveAvgOdds @BillBrewsterTBB Will you ever get the pod onto Pocket Casts app?

[Isaac Melin @MelonsMangos]

@CCM_Brett Portillo and Coupang earnings

[Speedwell Research @Speedwell_LLC]

$CPNG

"All of the cohorts, even our oldest are increasing their spend at consistently high levels. We are still far from realizing the full spend potential of each of our customer cohorts as evidenced by our small % of the total retail spend in Korea.

Update out tomorrow!

[AlphaSense @AlphaSenseInc]

$CPNG Earnings:

- Net revenues were $7.9 billion, up 11% YoY on a reported basis and 21% YoY on an FX-neutral basis.
- Gross profit increased 20% YoY and 31% YoY on an FX-neutral basis to $2.3 billion. Gross profit margin was 29.3%, an improvement of 217 bps YoY.
- Operating income was $154 million, an increase of $114 million from last year.
- Net income was $114 million and net income attributable to Coupang stockholders was $107 million, an increase of $102 million from last year.
- Diluted EPS was $0.06, an increase of $0.06 over last year.
- Adjusted EBITDA for the quarter was $382 million with a margin of 4.8%, up 88 bps from last year.
- Operating cash flow for the trailing twelve months was $2.0 billion, a decrease of $335 million YoY. This is primarily due to certain non-recurring working capital benefits in the prior period.
- Free cash flow was $1.0 billion for the trailing twelve months, a decrease of $450 million YoY. This is primarily due to certain non-recurring working capital benefits in the prior period.

https://t.co/XMhUygrNL3

[Isaac Melin @MelonsMangos]

@RampCapitalLLC Surgeon

[Stock Market Nerd @StockMarketNerd]

Snapshot of a Strong $SOFI Quarter:

[Stock Market Nerd @StockMarketNerd]

I don't think we should overlook how impressive it is that a company heavily reliant on capital markets & lending is comfortably raising annual guidance in this backdrop.

I get that I'm a biased shareholder. But I don't think that's a hot take.

The luxury of catering to ultra prime... underwriting with extreme pickiness... enjoying a highly diverse supply of liquidity... & delivering excellent returns for their capital market buyers across cycles.

Go $SOFI go.

[NOTRELOAD AI @notreload_ai]

$MGNI +13.5%, $PUBM +9.8%, $TTD +2.6% [Wells Fargo noted that the judge issued a "mixed" opinion in the $GOOGL ad-tech antitrust case, finding anticompetitive behavior on the supply side of the programmatic market.

"The opinion suggests the government failed to prevail on the demand side of the market because there isn't evidence it represents a discrete digital ads category. However, on the supply side, the judge ruled there is a discrete market and that Google engaged in anticompetitive practices."

While the remedy and appeal process needs to play out, Wells Fargo sees “meaningfully positive potential outcomes” for Magnite, PubMatic and the independent Supply-Side Platforms.

Wells sees "a more neutral outcome" for Trade Desk and the independent Demand-Side Platforms.]

[Logical Thesis @LogicalThesis]

This is SOO bullish $MGNI $PUBM
Not so much for $TTD

[AlphaSense @AlphaSenseInc]

$ALLY Earnings:

- GAAP EPS: -$.082
- ADJUSTED EPS: $0.58
- GAAP TOTAL NET REVENUE: $1.5 billion
- ADJUSTED TOTAL NET REVENUE: $2.1 billion

“Ally delivered solid first quarter results, reflecting continued momentum across our market-leading franchises – Dealer Financial Services, Deposits, and Corporate Finance.” said Chief Executive Officer, Michael Rhodes. “Our performance demonstrates the importance of our focused approach, disciplined execution, and unwavering commitment to delivering value for our customers and shareholders.

Dealer Financial Services results again highlight the strength of our dealer relationships and the scale of our franchise with $10.2 billion of consumer originations sourced from a record 3.8 million applications. Within Insurance, we continued to capitalize on synergies with our auto finance team, resulting in written premiums of $385 million, a first quarter record.

Corporate Finance delivered another impressive quarter with 13% growth in held-for-investment loans and a 25% return on equity. Credit performance within the portfolio remained strong, and we ended the quarter with historically low levels of criticized asset and non-accrual loan exposures.

Within Ally Bank, we are committed to delivering best-in-class digital features and products to grow the customer value proposition beyond rate. Retail deposit balances of $146 billion were up $2.6 billion within the quarter and are 92% FDIC insured. Deposits remain a source of strength for our balance sheet as they comprise 89% of our total funding mix.

On April 1st, we successfully closed the sale of Ally Credit Card. We also executed two securities repositioning transactions during the quarter, which improves our interest rate risk position by reducing AOCI volatility. These strategic actions strengthen our balance sheet, reduce risk, and support the sustainability of our returns over time.

As I reflect on my first twelve months as CEO, I am incredibly proud of our teammates and their unwavering commitment to our “Do it Right” culture which continues to provide exceptional experiences for our customers. I am excited about the significant opportunities within our core franchises, and believe we are well-positioned to unlock even greater value. Importantly, our pivot to a more focused Ally enables us to execute in a variety of economic environments.”

[B/R Open Ice @BR_OpenIce]

GAVIN MCKENNA JUST SCORED ONE OF THE MOST INSANE GOALS YOU'LL EVER SEE 🤯

(via @TheWHL)

[Isaac Melin @MelonsMangos]

@CCM_Brett I think we need Jackie Chan and Chris Rock

[Ramp Capital @RampCapitalLLC]

Morning Routine (as a parent of 3 young kids):

3:30 a.m. — I’m jolted awake by the faint whimper of Kid #1 (age 4), who’s standing in the doorway dripping like a soggy sponge. “I peed the bed.” Fantastic. I stumble out of bed, strip the sheets, and throw them in the wash. Kid #1 demands to sleep in my bed now, so I’m sandwiched between a damp child and my snoring partner. Sleep is officially canceled.

4:15 a.m. — Kid #2 (age 2) decides 4:15 a.m. is the perfect time to have a night terror. I shuffle in, exhausted, grab them from their crib and try to rock them back to sleep. I fall asleep briefly in the rocking chair.

5:30 a.m. — Kid #3 (age 6) wakes up and declares they’re starving. I attempt to pour cereal, but Kid #1 spills the milk, Kid #2 throws the cereal like confetti, and Kid #3 insists they’ll only eat pancakes shaped like dinosaurs. The kitchen turns into a war zone. I’m waiting for Gordon Ramsey to walk in.

6:00 a.m. — Time to dress them. Kid #1 refuses pants because “they’re itchy,” Kid #2 runs naked screaming about freedom, and Kid #3 demands a superhero cape instead of a jacket. I’m wrestling socks onto tiny feet while someone’s wiping snot on my leg. I consider duct tape or a straight jacket as a fashion statement.

6:30 a.m. — Brushing teeth becomes a negotiation. Kid #1 gags dramatically, Kid #2 eats the toothpaste, and Kid #3 uses the toothbrush to “paint” the mirror. I’m wondering if dental hygiene is really worth this fight. It’s not.

7:00 a.m. — I realize Kid #3’s homework is missing, Kid #1 doesn’t have their lunch packed, and Kid #2 has show and tell that wasn’t planned for. I’m digging through backpacks, yelling about time management to children who don’t know what a clock is, and questioning all of my life choices.

7:15 a.m. — The Breakfast Sequel. They’re hungry again. I toss granola bars at them like a zookeeper feeding seals, but Kid #1 wants yogurt, Kid #2 spills it on the dog, and Kid #3 cries because it’s not dinosaur-shaped. I’m wiping floors and cursing the inventor of snacks.

7:30 a.m. — Car loading chaos. Getting them into the car is like herding caffeinated squirrels. Kid #1 forgets their lunch, Kid #2 cries because they car seat straps are too tight and Kid #3 screams about a lost toy that’s under their butt. I blast “Baby Shark” to drown out the madness.

8:15 a.m. — Final sprint. We’re late. Shoes are untied, hair’s unbrushed, and someone’s face is still covered in yogurt. We packed half of the house before we left. It doesn’t matter. We’re almost home free.

8:30 a.m. — Drop-off victory. I shove them into their classrooms, wave at the teacher with a fake smile, and peel out of the parking lot like I’ve escaped a hostage situation. I join a Teams call on the car ride back home, one of many consecutive inefficient meetings to ruin the rest of my day.

8:45 a.m. — Coffee, nicotine, and creatine are consumed. A copious amount of each. I don’t understand how dual working parents function in this economy.

[Logical Thesis @LogicalThesis]

$PUBM is interesting again
Near all time low but CTV now at 20% of revenue
Retired 8% of shares via buybacks in 2024 (at higher prices, I imagine they'll do more down here)
$470M mcap
$140M cash
$330M EV
Did $92M in adj ebitda
This is trading just above 3x EV/adj EBITDA...