SQUARE INTERNAL MEMO.
Much of what we do here at Avory is about really understanding powerful company operations while dissecting the numbers to form a short and long-term investment thesis. While the core mission of Square is a simplistic one, there are a bunch of moving components within the business with different functions and unit economics.
With that, I simply wanted to highlight the main takeaway page from our internal memo following their latest earning report.
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Sean D. Emory
Avory & Co. Founder & Chief Investment Officer
Disclaimer: This is not a recommendation for purchase or sale of any securities. Avory is a shareholder of Square at the time of this writing, but this can change at anytime
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