diff --git a/src/StatsigProvider.tsx b/src/StatsigProvider.tsx
index f25a3e7..3e61cc3 100644
--- a/src/StatsigProvider.tsx
+++ b/src/StatsigProvider.tsx
@@ -118,8 +118,8 @@ export default function StatsigProvider({
   _reactNativeDependencies: rnDeps,
 }: Props): JSX.Element {
   const isReactNative = !!rnDeps;
-  const [isCacheLoaded, setCacheLoaded] = useState(false);
-  const [isInitialized, setInitialized] = useState(false);
+  const [hasCacheValues, setHasCacheValues] = useState(false);
+  const [hasNetworkValues, setHasNetworkValues] = useState(false);
   const resolver = useRef<(() => void) | null>(null);
   const [userVersion, setUserVersion] = useState(0);
 
@@ -142,14 +142,16 @@ export default function StatsigProvider({
       });
       const unmount = mountKey === undefined || prevMountKey !== mountKey;
       if (unmount) {
-        setInitialized(false);
+        setHasNetworkValues(false);
+        setHasCacheValues(false);
       }
 
       Statsig.updateUser(user).then(() => {
         resolver.current && resolver.current();
         setUserVersion((version) => version + 1);
         if (unmount) {
-          setInitialized(true);
+          setHasNetworkValues(true);
+          setHasCacheValues(true);
         }
       });
 
@@ -176,11 +178,11 @@ export default function StatsigProvider({
     }
 
     Statsig.setOnCacheLoadedCallback(() => {
-      setCacheLoaded(true);
+      setHasCacheValues(true);
     });
 
     Statsig.initialize(sdkKey, userMemo, options).then(() => {
-      setInitialized(true);
+      setHasNetworkValues(true);
       resolver.current && resolver.current();
     });
 
@@ -208,15 +210,15 @@ export default function StatsigProvider({
   const child = pickChildToRender(
     waitForCache === true,
     waitForInitialization === true,
-    isInitialized,
-    isCacheLoaded,
+    hasNetworkValues,
+    hasCacheValues,
     children,
     initializingComponent,
   );
 
   const contextValue = useMemo(
     () => ({
-      initialized: isInitialized,
+      initialized: hasNetworkValues,
       statsigPromise,
       userVersion,
       initStarted: Statsig.initializeCalled(),
@@ -227,7 +229,7 @@ export default function StatsigProvider({
         }),
     }),
     [
-      isInitialized,
+      hasNetworkValues,
       statsigPromise,
       userVersion,
       Statsig.initializeCalled(),
@@ -244,23 +246,28 @@ export default function StatsigProvider({
 function pickChildToRender(
   waitForCache: boolean,
   waitForInitialization: boolean,
-  isInitialized: boolean,
-  isCacheLoaded: boolean,
+  hasNetworkValues: boolean,
+  hasCacheValues: boolean,
   children: React.ReactNode | React.ReactNode[],
   initializingComponent?: React.ReactNode | React.ReactNode[],
 ): React.ReactNode | React.ReactNode[] | null {
-  // Don't wait
+  // No Need to Wait
+  if (hasNetworkValues) {
+    return children;
+  }
+
+  // Has to wait, but don't want to
   if (waitForInitialization !== true && waitForCache !== true) {
     return children;
   }
 
   // Wait until cache is ready
-  if (waitForCache && isCacheLoaded) {
+  if (waitForCache && hasCacheValues) {
     return children;
   }
 
   // Wait until initialized from network
-  if (waitForInitialization && isInitialized) {
+  if (waitForInitialization && hasNetworkValues) {
     return children;
   }
 
diff --git a/src/__tests__/CachingAndUpdatingUsers.test.tsx b/src/__tests__/CachingAndUpdatingUsers.test.tsx
new file mode 100644
index 0000000..e3adcd4
--- /dev/null
+++ b/src/__tests__/CachingAndUpdatingUsers.test.tsx
@@ -0,0 +1,93 @@
+/**
+ * @jest-environment jsdom
+ */
+
+import '@testing-library/jest-dom';
+import { render, screen, waitFor } from '@testing-library/react';
+import React from 'react';
+import StatsigJS from 'statsig-js';
+import { Statsig, StatsigProvider, useConfig } from '..';
+import * as TestInitializeData from './single_gate_init_response.json';
+
+StatsigJS.encodeIntializeCall = false;
+
+let renderedUserIDs: string[] = [];
+
+function TestComponent() {
+  const { config } = useConfig('a_config');
+
+  const userID = config.get('result', 'not-found');
+  renderedUserIDs.push(userID);
+
+  return <div>{userID}</div>;
+}
+
+function createResponseFromExtractedUserID(userID: unknown) {
+  return {
+    ...TestInitializeData,
+    ...{
+      dynamic_configs: {
+        a_config: {
+          name: 'a_config',
+          value: {
+            result: userID,
+          },
+          rule_id: 'a_rule_id',
+          group: 'a_group',
+          is_device_based: false,
+          secondary_exposures: [],
+        },
+      },
+    },
+  };
+}
+
+describe('Caching and Updating Users', () => {
+  (global as any).fetch = jest.fn((_url, request) => {
+    const response = createResponseFromExtractedUserID(
+      JSON.parse(request.body).user.userID,
+    );
+
+    return Promise.resolve({
+      ok: true,
+      status: 200,
+      text: () => JSON.stringify(response),
+    });
+  });
+
+  beforeEach(() => {
+    jest.clearAllMocks();
+    (Statsig as any).instance = null;
+    renderedUserIDs = [];
+  });
+
+  it('waits for cache and updates users', async () => {
+    render(
+      <StatsigProvider
+        sdkKey="client-dummy-key"
+        user={{ userID: 'a-user' }}
+        waitForCache={true}
+      >
+        <TestComponent />
+      </StatsigProvider>,
+    );
+
+    render(
+      <StatsigProvider
+        sdkKey="client-dummy-key"
+        user={{ userID: 'b-user' }}
+        waitForCache={true}
+      >
+        <TestComponent />
+      </StatsigProvider>,
+    );
+
+    await waitFor(() => screen.getByText('b-user'));
+
+    expect(renderedUserIDs).toEqual([
+      'not-found', // cache loaded for a-user, no result
+      'not-found', // cache loaded for b-user, no result
+      'b-user', // network loaded for b-user
+    ]);
+  });
+});