Mello Conf feedback4 Jun 2026 10:19
John and Laura were on great form at the Mello Investor Conference this week.
The song remains the same. This is a slow adoption, long-cycle game but that means, once profitable, the market should feel able to slap a very robust multiple on earnings. Breakeven, mainly via dishwash, is now so close at hand; once through breakeven, it feels like the program of new asset development will only accelerate.
In a micro cap/ small cap bull market maybe op progress and stock price would be higher but the exec have navigated through a bear market since 2022, high global interest rates and awful U.K. investor sentiment. All credit to them for their calm, focus and consistency.
The key point is that a maiden profit will make this a different beast. And the combination of earnings and incredibly high asset turn should make this a great medium term performer.