In the Feb'22 PNV conference call, the head of US sales highlighted his approach to hiring, the guy expressed a strong acumen while DW added something like 'the target is to hire 15 new sales people per qtr'. Even if they undershoot at say 10 people per qtr, the team almost doubles. I like your points around the nuances of hiring quality, I'm certain the Head of US sales would be across them. Next, PNV's stated strategy is to re-invest all sales growth into new hiring. The implication is twofold; 1. The objective is to gain mkt share, and 2. So long as sales continue to grow as expected, the hiring objective remains unchanged. Finally, The healthcare industry embodies highly defensive characteristics, i.e. sick or injured people seek treatment irrespective of the macro environment. With a 95% product margin and zero debt, the macro environment is irrelevant to the operational success at PNV. You could argue that there will be fewer work related injuries to treat, however, the impact on PNV in this phase of mkt share penetration is negligible particularly considering the growth of BTM use cases such as DFU's and VLU's.
PNV Price at posting:
$1.56 Sentiment: Buy Disclosure: Held
(20min delay)