Operational inflection + GLP-1 winner

A solid r/r with almost half of the market cap in net cash and inflecting fundamentals

Hello, Ultimate Value readers!

I am back with another idea.

This is a classic setup for me. A very cheap consumer business that has been in turnaround mode and is showing real signs of an operational inflection. Growing GLP-1 adoption should drive further acceleration in growth metrics from here. The risk/reward is compelling, with a low valuation (~4.7x EBITDA) and almost half the market cap in net cash.

Liquidity is good. The stock trades about $6-7 million per day.

Let’s take a look.