At some point..6 Nov 2023 10:00
This will wake up once more. The share consolidation has done nothing for the spread at this point given the volumes are nonexistent but news will help. With a 84% gross margin this is a great business and given we have reached peak capex this year on software and headcount I hope to see the cost of sales to start to fall rapidly from here. The ARR rate of 5.8m this year supports the 20% growth projections but I guess the market was just spooked by the loss of one client to insolvency and a higher churn rate of 5% which, I assume comes from the beepro element which they have wisely sidelined.
ABITDA profitability is a nonsense for me but we should be heading for real profit next year and strong cash flow. The opportunity of the US market is not priced in at all either so all to play for..