| MartijnScheijbeler.com | | YoY: 2022 versus 2021 | 2022 | 2021 | |
| Company | Ticker Symbol | | Spend | Revenue | % of Expenses | % of Revenue | 10K Filing (2022) | Spend | % of Expenses | % of Revenue | Net Revenue | Total OpEx | 10K Filing (2021) | Spend | % of Revenue | Net Revenue | % of Expenses | Total OpEx | Expense Category |
| | | | | | | | | | | | | | | | | | | | |
|---|
| Nike | NKE | | 23.64% | 4.88% | 8.78% | 18% | https://s1.q4cdn.com/806093406/files/doc_downloads/2022/399556(1)_27_Nike-Inc._NPS_Combo_Form-10-K_WR.pdf | 3850 | 26.01% | 8.24% | 46710 | 14804 | https://d18rn0p25nwr6d.cloudfront.net/CIK-0000320187/de1a2596-13c0-452e-9122-fee481da40ad.pdf | 3114 | 6.99% | 44538 | 23.91% | 13025 | Demand creation |
| Airbnb | ABNB | | 27.82% | 40.17% | 7.79% | -9% | https://d18rn0p25nwr6d.cloudfront.net/CIK-0001559720/8a9ebed0-815a-469a-87eb-1767d21d8cec.pdf | 1516 | 22.98% | 18.05% | 8399 | 6597 | https://d18rn0p25nwr6d.cloudfront.net/CIK-0001559720/8a9ebed0-815a-469a-87eb-1767d21d8cec.pdf | 1186 | 19.79% | 5992 | 21.32% | 5563 | Sales and Marketing |
| Doordash | DASH | | 3.89% | 34.68% | -28.02% | -23% | https://d18rn0p25nwr6d.cloudfront.net/CIK-0001792789/6c80c6fa-ff0b-44e3-963b-a6c60669ff56.pdf | 1682 | 21.82% | 25.55% | 6583 | 7707 | https://d18rn0p25nwr6d.cloudfront.net/CIK-0001792789/c2520ba0-bff3-4944-b771-c6843aad24dc.pdf | 1619 | 33.12% | 4888 | 30.32% | 5340 | Sales and Marketing |
| Uber | UBER | | -0.69% | 82.62% | -37.28% | -46% | https://s23.q4cdn.com/407969754/files/doc_financials/2023/ar/2022-annual-report.pdf | 4756 | 14.11% | 14.92% | 31877 | 33709 | https://d18rn0p25nwr6d.cloudfront.net/CIK-0001543151/c94d88c9-fe59-4487-8e68-ccb030ea49b0.pdf | 4789 | 27.44% | 17455 | 22.50% | 21289 | Sales and Marketing |
| Chewy | CHWY | | 4.85% | 13.59% | -7.62% | -8% | https://d18rn0p25nwr6d.cloudfront.net/CIK-0001766502 /08630f38-46de-42b6-a9c7-7b34fad261b5.pdf (page 48) | 649 | 23.39% | 6.43% | 10098 | 2775 | https://d18rn0p25nwr6d.cloudfront.net/CIK-0001766502%20/2e46b3b0-1c45-41e7-8a97-76fb5388ee01.pdf | 619 | 6.96% | 8890 | 25.32% | 2445 | Advertising and Marketing |
| Sirius XM | SIRI | | 1.80% | 3.53% | -2.38% | -2% | https://investor.siriusxm.com/sec-filings/annual-reports/content/0000908937-23-000006/0000908937-23-000006.pdf (page 38) | 1075 | 15.43% | 11.94% | 9003 | 6967 | https://investor.siriusxm.com/sec-filings/sirius-xm-holdings-inc/content/0000908937-22-000007/0000908937-22-000007.pdf | 1056 | 12.14% | 8696 | 15.81% | 6681 | Sales and Marketing |
| Etsy | ETSY | | 8.56% | 10.18% | -47.12% | -1% | https://d18rn0p25nwr6d.cloudfront.net/CIK-0001370637/8c7ea579-d065-4550-a295-a65a98eab693.pdf (page 88) | 710 | 28.63% | 27.67% | 2566 | 2480 | https://d18rn0p25nwr6d.cloudfront.net/CIK-0001370637/619701ee-f7dc-4baa-9463-4374cfcef85e.pdf | 654 | 28.08% | 2,329 | 54.14% | 1,208 | Marketing |
| Bumble | BMBL | | 18.01% | 18.04% | 5.58% | 0% | https://d18rn0p25nwr6d.cloudfront.net/CIK-0001830043/daf20544-dbea-4e53-8dc3-8a619728c249.pdf (page 63) | 249 | 24.75% | 27.57% | 903 | 1006 | https://d18rn0p25nwr6d.cloudfront.net/CIK-0001830043/520710ce-2e5e-4493-94f0-c08337648322.pdf | 211 | 27.58% | 765 | 23.44% | 900 | Selling and Marketing |
| Peloton | PTON | | 39.91% | -10.92% | -32.90% | 57% | https://investor.onepeloton.com/static-files/efeaeeda-5814-40f1-83b3-34d4d96c5a43 | 1019 | 29.76% | 28.45% | 3582 | 3424 | https://investor.onepeloton.com/static-files/efeaeeda-5814-40f1-83b3-34d4d96c5a43 | 728.3 | 18.11% | 4,021 | 44.35% | 1,642 | Sales and Marketing |
| GoPro | GPRO | | 6.41% | -5.86% | 5.25% | 13% | https://d18rn0p25nwr6d.cloudfront.net/CIK-0001500435/f405de25-31eb-4f54-9d59-abab70d34539.pdf (page 45) | 166 | 45.23% | 15.19% | 1093 | 367 | https://d18rn0p25nwr6d.cloudfront.net/CIK-0001500435/92b5590f-e44c-457c-9c90-c48ce9db477f.pdf | 156 | 13.44% | 1,161 | 42.98% | 363 | Sales and Marketing |
| Roku | ROKU | | 84.18% | 13.10% | 9.55% | 63% | https://d18rn0p25nwr6d.cloudfront.net/CIK-0001428439/281c2203-36f4-481c-a867-dedd5f6fcac9.pdf (page 55) | 838 | 42.49% | 26.81% | 3126 | 1972 | https://d18rn0p25nwr6d.cloudfront.net/CIK-0001428439/11c5daec-ccaf-4308-8159-59dc6efcd8cc.pdf | 455 | 16.46% | 2,764 | 38.79% | 1,173 | Sales and Marketing |
| Spotify | SPOT | | 38.50% | 21.30% | -3.53% | 14% | https://d18rn0p25nwr6d.cloudfront.net/CIK-0001639920/b283934e-7a7c-4da6-8749-856dfa4c36e6.pdf (page 53) | 1572 | 43.85% | 13.40% | 11727 | 3585 | https://d18rn0p25nwr6d.cloudfront.net/CIK-0001639920/0307a021-254e-43c5-aeac-8242b0ea3ade.pdf | 1,135 | 11.74% | 9,668 | 45.45% | 2497 | Sales and Marketing |
| Paypal | PYPL | | -7.69% | 8.46% | -17.72% | -15% | https://d18rn0p25nwr6d.cloudfront.net/CIK-0001633917/b562e712-8266-493c-8ae8-e28f93404d2f.pdf | 2257 | 9.53% | 8.20% | 27518 | 23681 | https://d18rn0p25nwr6d.cloudfront.net/CIK-0001633917/82fd6358-df11-4e57-af9d-a5c66d48fadb.pdf | 2,445 | 9.64% | 25,371 | 11.58% | 21,109 | Sales and Marketing |
| TripAdvisor | TRIP | | 67.16% | 65.41% | 24.14% | 1% | https://ir.tripadvisor.com/static-files/e3e66780-1da4-47f4-ae37-ac2231d983af (page 183) | 784 | 56.36% | 52.55% | 1492 | 1391 | https://ir.tripadvisor.com/static-files/3e32bcb6-bb03-47ea-bd68-e7a3e82c2d30 | 469 | 52.00% | 902 | 45.40% | 1033 | Selling and Marketing |
| Robinhood | HOOD | | -68.50% | -25.18% | -54.05% | -58% | https://d18rn0p25nwr6d.cloudfront.net/CIK-0001783879/a9a57907-3e1a-4c89-aa64-06a27e537dbc.pdf | 103 | 4.35% | 7.58% | 1358 | 2369 | https://d18rn0p25nwr6d.cloudfront.net/CIK-0001783879/5da70128-0b89-456d-802a-047969b23ad9.pdf | 327 | 18.02% | 1,815 | 9.46% | 3,456 | Marketing |
| Wayfair | W | | 6.89% | -10.87% | -11.17% | 20% | https://d18rn0p25nwr6d.cloudfront.net/CIK-0001616707/bf033d6d-0323-4db3-80ad-66ba349d2e9d.pdf | 1473 | 30.69% | 12.06% | 12218 | 4800 | https://d18rn0p25nwr6d.cloudfront.net/CIK-0001616707/294b4ecb-7b3d-4720-98c5-f9192a9559a6.pdf | 1378 | 10.05% | 13708 | 34.54% | 3989 | Advertising |
| Booking Holdings | BKNG | | 57.67% | 55.58% | 11.29% | 1% | https://d18rn0p25nwr6d.cloudfront.net/CIK-0001075531/5704910b-d65d-4528-a869-e1e1216a1f8b.pdf | 5993 | 49.99% | 35.07% | 17090 | 11988 | https://d18rn0p25nwr6d.cloudfront.net/CIK-0001075531/d11c870c-7a8c-4a4c-9f15-3ca841f2c1a2.pdf | 3801 | 34.60% | 10985 | 44.92% | 8462 | Marketing |
| Expedia | EXPE | | 44.52% | 35.69% | 14.97% | 7% | https://d18rn0p25nwr6d.cloudfront.net/CIK-0001324424/0293467d-ee64-4e0c-a129-a07e332fcf5f.pdf (page 40) | 6100 | 58.22% | 52.28% | 11667 | 10478 | https://d18rn0p25nwr6d.cloudfront.net/CIK-0001324424/936c054e-9c59-465f-a87e-c9144fb28bb1.pdf | 4221 | 49.09% | 8598 | 50.64% | 8336 | Selling and Marketing |
| Netflix | NFLX | | -0.59% | 6.46% | -10.08% | -7% | https://d18rn0p25nwr6d.cloudfront.net/CIK-0001065280/73bf5172-b70c-43fd-865e-4f58bef2eb5d.pdf (page 24) | 2530 | 9.74% | 8.00% | 31615 | 25983 | https://s22.q4cdn.com/959853165/files/doc_financials/2021/q4/da27d24b-9358-4b5c-a424-6da061d91836.pdf | 2545 | 8.57% | 29697 | 10.83% | 23503 | Marketing |
| Vacasa | VCSA | | 31.54% | 33.62% | -15.49% | -2% | https://d18rn0p25nwr6d.cloudfront.net/CIK-0001874944/87d060b0-f9af-42d4-ae95-ca2b5a1c69a5.pdf | 247167 | 15.65% | 20.81% | 1187950 | 1578902 | https://d18rn0p25nwr6d.cloudfront.net/CIK-0001874944/c976dcda-61ee-4f01-9ebf-14a77186233b.pdf | 187904 | 21.14% | 889058 | 18.52% | 1014458 | Sales and Marketing |
| Lululemon | LULU | | 10.77% | #DIV/0! | #DIV/0! | #DIV/0! | https://otp.tools.investis.com/clients/us/lululemon_athletica1/SEC/sec-show.aspx?FilingId=16520594&Cik=0001397187&Type=PDF&hasPdf=1 (page 57) | 329 | #DIV/0! | 4.06% | 8110 | | https://otp.tools.investis.com/clients/us/lululemon_athletica1/SEC/sec-show.aspx?FilingId=15691863&Cik=0001397187&Type=PDF&hasPdf=1 | 297 | #DIV/0! | | #DIV/0! | | Marketing |
| Intuit | INTU | | #DIV/0! | #DIV/0! | #DIV/0! | #DIV/0! | https://s23.q4cdn.com/935127502/files/doc_financials/2022/ar/FY22-Q4-10-K-Document-AS-FILED-09-02-22.pdf (page 45) | 3526 | 45.50% | 27.71% | 12726 | 7749 | https://d18rn0p25nwr6d.cloudfront.net/CIK-0000896878/e04ed275-64f6-4662-a383-a1e01829677b.pdf | | #DIV/0! | | #DIV/0! | | Sales and Marketing |
| SUMMARY | | 31.60% | 32.63% | -18% | -1% | | $288,344 | 16% | 19.9% | $1,447,411 | $1,752,734 | | $219,109 | 20% | $1,091,301 | 19% | $1,146,472 | |