reports
- Nicholas Cortellucci
- CFA
YERB.U: Recalibrating Our Model After Soft Q3 Financials
What you need to know: • Yerbaé reported Q3 financials that missed our expectations due to an overall slowdown in growth. As such, we are reducing our 2024E estimates and target price to $2.00/share. • However, the miss seems to already be priced into the stock, with YERB.U being down 50% from its highs in August. • YERB.U has reported various strong updates subsequent to the quarter including bringing on Aaron Rodgers as a lead investor. On Wednesday evening, Yerbaé Brands Corp. (YERB.U:TSXV...
- Nicholas Cortellucci
- CFA
YERB.U: Strong Q2 Financials; Increasing Target Price
What you need to know: • Yerbaé reported strong Q2 financials that were in line with our estimates on sales ($4.1M) and beat our expectations for gross margins (56%). • YERB.U released multiple updates subsequent to the quarter including record Amazon Prime Day sales, the closing of the first tranche of its celebrity investment round, and a partnership with Richmond Flowers. • We are increasing our target price to $2.75/share based on 6.0x sales. Yesterday, Yerbaé Brands Corp. (YERB.U:TSXV, YER...
- Nicholas Cortellucci
- CFA
YERB.U: Recent Announcements Reaffirm Investment Thesis
What you need to know: • Yerbaé announced the closing of the first tranche of its celebrity investment round, including various prominent athletes and entertainers. • YERB.U expanded into an additional 75 Costco locations across the Southeastern U.S. and announced record sales on Amazon Prime Day. • We are expecting continued strong financials for Q2, including $4.2M in net revenue (+128% YoY). Yerbaé Brands Corp. (YERB.U:TSXV, YERBF:OTC) has reported multiple updates over the last month that f...
- Nicholas Cortellucci
- CFA
YERB.U: A Few Solid Updates; Increasing Target Price
What you need to know: • Yerbaé announced a strategic partnership with Farrell Distribution, a renowned distributor of premium beverages in Vermont. • YERB.U extended its partnership with CrossFit champion Annie Thorisdottir and launched new flavours in Sprouts Farmers Markets. • We are increasing our target price on YERB.U to $2.50/share based on 5.5x 2024E sales due to multiple expansion in the peer group. Yerbaé Brands Corp. (YERB.U:TSXV) has reported various updates over the last few weeks ...
- Nicholas Cortellucci
- CFA
YERB.U: Record Q1 Financials & Positive Outlook
What you need to know: • Yerbaé posted Q1/23 financial results including net revenue of $3.5M vs. our estimate of $3.5M, representing 130% YoY growth and 88% QoQ growth. • Gross margin came in at 50% in Q1 vs. our estimate of 56% due changing sales mix as well as inflationary pressures. • YERB.U is trading at 3.5x 2024E sales compared to high-growth peers at 7.0x, despite having superior sales growth and gross margins. Yerbaé Brands Corp. (YERB.U:TSXV) reported Q1/23 financial results yesterday...
- Nicholas Cortellucci
- CFA
YERB.U: 2022 Financials Beat Expectations
What you need to know: • Yerbaé posted full-year 2022 financial results that beat our estimates. 2022 net revenue came in at $7.2M vs. our estimate of $6.8M, representing 19% YoY growth • Gross margin came in at 59% in 2022 vs. our estimate of 58%. YERB.U remains the gross margin leader in our peer group • YERB.U is trading at 3.4x 2024E sales compared to high-growth peers at 6.4x, despite having superior sales growth and gross margins Yerbaé Brands Corp. (YERB.U:TSXV) reported 2022 financial r...
- Nicholas Cortellucci
- CFA
YERB.U: Challenger Brand in Secular Growth Industry
What you need to know: • Yerbaé has been posting accelerating sales growth (+124% YoY in Q1E), using its diversified and growing distribution network which covers over 10,000 retail doors across the U.S. • CEO Todd Gibson is a beverage industry veteran, having experience at Hansen’s Energy (Monster), SoBe, FUZE Beverage, and Coca Cola • YERB.U is trading at 3.0x 2024E sales compared to high-growth peers at 5.9x, despite having the highest sales growth and gross margins Yerbaé Brands Corp. (YERB...
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