At Spaceship we’re long-term investors:
But we still keep an eye on what’s happening in the markets day to day.
This week, we’re taking a look at some of the bigger movements in our Spaceship Voyager portfolios from the month of February 2024.
TL;DR
Moving up:
- Palantir rose 58.22%
- Audinate rose 40.40%
- Temple & Webster rose 39.06%
- Kogan rose 37.67%
- TOMRA Systems rose 32.92%
Moving down:
- Roku fell 27.17%
- Atlassian fell 15.71%
- Bumble fell 15.29%
- Twilio fell 14%
Moving up
Palantir
Rose 58.22%
Palantir is a big data company that helps its customers manage large data sets.
It was founded in 2003, and has worked with government and commercial customers since.
Why did Palantir stock go up?
Palantir co-founder and CEO Alex Karp speaks English, German, and French. His hobbies are Tai Chi and cross-country skiing.
His hairstyle has been described as ‘distinctive’, and he’s apparently a ‘self-described socialist’.
Oh, and he announced record results for Palantir on 5 February, which caused a big jump in the stock’s price.
Palantir reported its fourth-quarter earnings and highlights included a 20% increase in quarterly revenue, year over year, for the fourth quarter ending 31 December 2023.
Karp announced record profit for the quarter, and told the market that the company’s anticipating a 40% increase on US commercial revenue over the coming year vs the year before.
Alex Karp’s taken the Warren Buffett annual letter route and released a letter to shareholders – you can read it here.
Palantir is in the Spaceship Universe Portfolio.
Audinate
Rose 40.40%
Audinate is a leading provider of professional AV networking technology.
It's a Sydney business that was spun out of the CSIRO to become a global AV protocol that delivers uncompressed, multi-channel, low latency digital audio over an ethernet network.
Its flagship product Dante has been used to power some of the biggest music events in the world, including the Foo Fighters, the Killers, and Paul McCartney, while music product leaders such as Yamaha have adopted its AV technology.
Why did Audinate stock go up?
Audinate’s had a massive month.
It announced half yearly results on 12 February 2024 that included a 50.1% increase in gross profit for the half year ending 31 December 2023, vs the half year before (which ended 30 June 2023.)
It increased its operating cashflow by $10 million for the half year ending 31 December 2023, vs the half year before (which ended 30 June 2023.)
And it’s also exploring merger and acquisition opportunities after raising $70 million at the end of last year.
Audinate is in the Spaceship Universe Portfolio.
Temple & Webster
Rose 39.06%
Temple & Webster was founded with a goal for being the first place Aussies would look when furnishing their homes.
That was in 2011, when four entrepreneurs decided to create a website that showcased editorial quality content to online retail - specifically, furniture and homewares.
It listed on the stock market in 2015.
Why did Temple & Webster stock go up?
Temple & Webster’s vision is ‘to make the world more beautiful one room at a time’.
It made the bank accounts of its shareholders more beautiful, at least, when it announced half-yearly results which included highlights such as a 23% increase in revenue, year on year, and that in February 2024 it reached a massive one million active customers.
The company’s also been using AI to save money, by optimising its product listings and for pre-sale product enquiry live chats.
It calls this ‘customer care’ and notes that AI has helped it decrease spend in this area by 30%.
The company also says that it can benefit from AI in ways that offline companies cannot – and sees this as a competitive advantage.
The whole report is super interesting - if you're keen you can check it out here.
Temple & Webster is in the Spaceship Universe Portfolio.
Kogan
Rose 37.67%
Kogan was founded by Ruslan Kogan in a Melbourne garage in 2006.
It's an online retail business that sells products and services from its portfolio of retail and service businesses.
Why did Kogan stock go up?
Kogan announced earnings – and its first dividend in three years – and founder Ruslan Kogan said he’d “Never been more confident” about the business. The business returned to profitability even amidst a revenue decline.
Kogan is in the Spaceship Universe Portfolio.
TOMRA Systems
Rose 32.92%
TOMRA was founded in 1972 in Norway, when two brothers worked out a system to help a local grocer accept empty bottles in exchange for cash.
They invented the world's first automated reverse vending machine – and now people can 'return and earn' from taking their empty bottles and cans back to be recycled, all over the world.
Check out TOMRA’s product in action:
Why did TOMRA Systems stock go up?
TOMRA released quarterly earnings on Valentine’s Day where it reported quarterly revenue growth of 10%; yearly revenue growth of 11%; and an increase in gross margin of 44%, for the quarter ending 31 December 2024.
So if you weren’t somebody's Valentine this year – this one was for you.
TOMRA Systems is in the Spaceship Earth Portfolio.
Moving down
Roku
Fell 27.17%
Roku is one of the largest streaming platforms in the US.
It runs a TV operating system, sells its own hardware, and makes money from advertising, licensing, and subscription fees.
It also owns the Roku channel, a free ad supported streaming channel.
Why did Roku stock go down?
Roku announced its Q4 earnings for the quarter ending 31 December 2023 which included that 2023 was its second-best ever year for new accounts, with an increase of 10 million in an already competitive space.
Unfortunately, competition may increase further with Walmart buying Vizio, a TV manufacturer.
This is a potential issue for Roku as Vizio and Walmart are large Roku customers.
We believe Walmart’s acquisition is to counter Amazon's advertising in Prime video, Walmart plans to similarly connect TV advertising to purchases in store.
The Walmart/Vizio combination could create opportunities but also distribution challenges for Roku and we are monitoring the position closely.
Roku is in the Spaceship Universe Portfolio.
Atlassian
Fell 15.71%
Atlassian creates software that helps teams work together.
Its products solve pain points across project planning, project management, online collaboration, and IT.
It was founded in 2002 in Sydney, Australia.
Why did Atlassian stock go down?
If Atlassian had an epic for a $1 billion revenue quarter in its company JIRA board, it could have marked it off as ‘done’ after its second quarter ending 31 December.
What the market was looking for, though, was stronger growth in its Cloud product.
Here’s the Atlassian Shareholder Letter where they talk through the business’s expectations.
Atlassian is in the Spaceship Earth and Spaceship Universe portfolios.
Bumble
Fell 15.29%
Bumble was founded by Whitney Wolfe in 2014 and listed on the stock market in 2021.
It has a mission to help people build healthy and fair relationships through its dating app suite which over time has included Bumble, Bumble BFF, Fruitz, and Official.
Why did Bumble stock go down?
Bumble’s been looking for more love recently, as its founder Whitney Wolfe stepped down as CEO in November, former Slack CEO Lidiane Jones stepped up in her place, and the dating market overall experienced a bit of a slowdown.
This month, Bumble reported its quarterly earnings for the quarter ending 31 December 2023 as well as a plan to reduce its workforce by 350 employees. We are monitoring this position closely.
Bumble is in the Spaceship Earth and Spaceship Universe portfolios.
Twilio
Fell 14.00%
Twilio sells APIs to businesses that want to more easily communicate with their customers through platforms like messaging, voice, and video.
Why did Twilio stock go down?
Twilio announced quarterly earnings for the quarter ending 31 December 2023, and called it a ‘terrific’ quarter, but the market wasn’t fully on board.
In November 2020, Twilio acquired a customer data platform called Segment with the idea that it would help Twilio customers personalise their customer engagement.
It hasn’t yet proved as valuable as they thought it would, with growth slowing dramatically, so they marked down the value of the acquisition, which is called an impairment, in Q4 2023.
Given the lower expected growth rates, Twilio is a position we are monitoring closely.
Twilio is in the Spaceship Earth and Spaceship Universe portfolios.
Some of our Spaceship Voyager portfolios invest in Palantir, Audinate, Temple & Webster, Kogan, TOMRA Systems, Atlassian, Bumble, Twilio, and Roku at the time of writing.
Important! We’re sharing with you our thoughts on the companies in which Spaceship Voyager invests for your informational purposes only. We think it’s important (and interesting!) to let you know what’s happening with Spaceship Voyager’s investments. However, we are not making recommendations to buy or sell holdings in a specific company. Past performance isn’t a reliable indicator or guarantee of future performance.
