Creator of the F.L.O.W. Method. Martial arts discipline for investing. Momentum → long-term compounding. Deep dives on quality businesses & capital allocation.
@fakecashcapital Appreciate that! I agree Q4 could mark the beginning of the cash-flow inflection, with 2027 providing the real test. If the business keeps growing while receivables normalize and sales-force costs stabilize, the operating leverage could be substantial. That's the setup I'll watch
@braden_tewinkel I agree Braden. Investing aggressively during a growth ramp can be exactly the right decision. I'd separate that spending from cash tied up in receivables, tho. The real opportunity is when VEVYE's improving economics the larger sales force start producing operating leverage & $$
Everyone’s watching $HROW’s Q4 growth number. I’m watching the cash. Rev per VEVYE script is improving. Operating cash flow still neg. I’m holding, want to see the two meet. My original thesis is here. Tell me where I’m wrong in the comments:
https://t.co/Db1gHaCnpH
@Im_Specter Merci, Anton! I read your Q3 analysis (with translation help). Agree with your point about spending absorbing gross profit growth. I'm also watching cash conversion, particularly the receivables build. That's where I'd like to see the next improvement. Thoughtful analysis!
@PrivacySetting1 I agree. Cutting investment just to produce short-term cash would be a mistake. But 75% gross margins don't guarantee strong shareholder returns. What matters is the return on that spending as the biz scales. I'm holding because I think it can pay off. I want to see the evidence.
@Michigan_Value We may be talking about 2 diff things. Better guidance & execution can certainly change sentiment & move the stock. I'm talking about what sustains that higher valuation. If Harrow can turn its revgrowth into consistent cash generation, that's when my conviction really increases.
@Michigan_Value Good point on 3e. What interests me more than a price increase is the potential for higher profit per unit with the new prefilled syringe. Baum has said they could actually lower the list price and make more $. Watching what happens to reimbursement when pass-thruexpires in 2028.
Is #AI changing the kind of business Jabil is?
Part 1 of my $JBL deep dive covers how it makes money, management, growth and risks.
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Part 2 of my $JBL deep dive: cash flow, valuation, entry prices and potential annual returns.
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@Michigan_Value Appreciate you sharing the numbers. $28M in Q3 looks plausible given channel normalization and improved pricing. $52M in Q4 is the more interesting inflection. I'll be watching how much of that comes from sustained clinic demand versus distributor replenishment. Thanks!
@Michigan_Value Agreed, which is why I went back through Harrow’s filings and earnings calls. The inventory drawdown through Q2 makes sense given the excess stock entering 2026 and the five-pack transition. The interesting part now is modeling the Q3 revenue conversion. Appreciate ur perspective
@Michigan_Value Understood. So if inventory still hadn't normalized in Q2, what gives us confidence distributors will replenish in Q3 rather than continue drawing down inventory? That's the part I'm trying to reconcile with the expected revenue ramp.
@PronkDaniel I bought at $67. I can see the case at 11x forward EBITDA, but before adding I’m focused on acquisition returns and cash conversion. What are you assuming for FCF per share and leverage by 2030?
@B2F_Investing Not much into tech analysis, but appreciate this insight. Just wrote a full deep dive analysis on $BN here if interested. https://t.co/1l2D0ps7ZR
I bought $BN at an average of $41.33. Would I buy more? I worked through 15 questions to answer that. The business and risks are free to read. My valuation and decision in my full stock analysis:
https://t.co/1l2D0ps7ZR #Brookfield