Recent IPOs with Growth YETI, LTHM, TRHC

YETI Holdings recently went public. You may know them for their high end outdoor ice chests. A 35 quart YETI costs about $240 on versus about $30 for a comparable Coleman. Of course high end coolers are not a new concept, I know Pelican has been around for a long time and has even higher prices but Yeti seems to have namebrand appeal.
“Given the absence of clearer guidance from the company until its first earnings release, we can extrapolate Yeti’s most recent performance to guide our forward estimates. The company grew revenues at 34% y/y in the first half of this year, but we do note that this is against a weak 2017 comp, so results might soften sequentially in the second half of this year and moving into 2019.”

Last quarter sales were up 39%.…

Livent Corporation. From what I am reading they are the purest play Lithium manufacturer out there. They were spun off from FMC corporation which is a pesticide manufacturer. Investing in a lithium manufacturer seems like an investment that would have “hype” all over it but consider the growth we are seeing in EV, not just Tesla but ride sharing. So there is a market for it. Last quarter sales were up 51%. It reminds me of when about 10 years ago Potash, which is used in fertilizer, became high in demand due to growth in lifestyle in China and shares of Potash Corporation of Saskatchewan, the biggest pure play Potash producer out there, saw it’s stock skyrocket. Intrepid Potash came out public right at about the top.…

Tabula Rasa Healthcare TRHC went public in October 2016 at about $14 a share. It’s shares traded sideways until July 2017 at which point they began their ascent to their current $78 a share. Currently at $1.56 billion market.

“Tabula Rasa generated $48.6 million in total revenue in the second quarter, representing an increase of 65%. Product revenue of $27.4 million represented 56% of total revenue and a year-over-year increase of 18%. Service revenue of $21.2 million represented 44% of total revenue and a 244% increase over the same period last year.”

From what description I see they provide “Data Driven technology and solutions that enable healthcare organizations to optimize medication regimens.” From they way they describe it they provide individualized analysis of medications to ensure patients are not taking prescriptions that cause adverse effects when combined.

From their “about us”
TRHC provides patient-specific, data-driven technology and solutions that enable healthcare organizations to optimize medication regimens. We improve patient outcomes, reduce hospitalizations, lower healthcare costs, and manage risk. We deliver our solutions through a comprehensive suite of technology-enabled products and services for medication risk management and risk adjustment.

With 4.3 billion prescriptions filled in the U.S. in 2014, medication treatment is the most common medical intervention. Its imprecise use represents the fourth leading cause of death and contributes to an estimated 45 to 50 million adverse drug events, or ADEs, annually. ADEs result in more than 100,000 deaths annually, approximately 125,000 hospitalizations, and one million emergency room visits. Incidence of ADEs is highly correlated to the number of medications an individual is taking and to non-adherence, and thus is particularly relevant to populations with complex healthcare needs.

As the U.S. healthcare market continues to evolve from fee-for-service to value-based models of care, healthcare organizations require new and emerging technologies to optimize treatment and manage risk on a patient-specific, customized basis. Our solutions are targeted to at-risk organizations that are clinically and financially responsible for the populations they serve.

Our suite of cloud-based software solutions provides prescribers, pharmacists and healthcare organizations with sophisticated and innovative tools to better manage the medication-related needs of patients. TRHC offers a prospective clinical approach to medication risk management, designed to increase patient safety and promote medication regimen adherence. Furthermore, our medication risk management technology helps healthcare organizations lower costs by reducing ADEs, enhancing quality of care, and avoiding preventable hospital admissions.

Last quarter con call transcripts:…

Of the 3, TRHC seems the most interesting and seems like the kind of company people would talk about on this board. Aside from growth and a relatively small market cap, they have an impressive 4.7 Glassdoor rating. The Medication Therapy Management industry appears to have been molded by healthcare law changes in recent years:…

I see no other large players in this space. Looking online I see only private companies competing with Tabula Rasa.


THRC reports 3Q results on Nov 6.

I found out that a good portion of their growth is due to an acquisition in September 2017. So starting q4 they will have tougher comps, will be lucky to get over 20% sales growth