We need to see some more financials over time.
I'm pretty confident Adore Beauty is worth more than $50m, lets see the FY2021 financials when they are released in August and back out all the IPO expenses.
Because its more internet driven sales they should be more efficient than traditional bricks and mortar. They have also been around since 2000 so they have to have been doing something right.
Ann: Adore Beauty Trading Update, page-68
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