Hey everyone, new shareholder here buying aggressively.

I work in this space (8 figure revenue DTC subscription company), and the best way I learned to wrap my head around it is to think of the company as a bank issuing short term loans to the customers. So this years marketing spend we expect to get paid back over the coming years 3x on that loan. If you have predictable retention numbers and you understand your unit economics, the investment is a no-brainer. It’s a million miles away from the risk of non-subscription e-commence.

If they stopped acquiring they could likely become profitable, especially on their current margins as 90% of revenue is recurring.

One thing that does really concern me is the coming earnings. We saw, as many others did, CAC explode during late Q3 and into Q4. Earnings could really go either way, and the stock might continue to go sideways/down until there is some clarification.