RE: GLR1 Nov 2021 16:04
CropX are behind schedule even if they are a fantastic partner, they estimated 88,000 units by Y/E 2022, I dont think they are going to achieve that (maybe even a third of that) however for little old starcom, that's not a problem since each unit IMHO likely contributes about $30-40 per year, so 30,000 units and you are looking at a nice ~$1m client right there (and thats growing)
Zero I think have come under what we anticipated, I doubt they sell more than 1-2K units per annum of the SRF and SRS, but still - it is all growing YoY - this is why the rebrand now is such a good idea because you already have a head start and where most LTH's or fence sitters are still living back in 2018, new investors will look at this company with a 3-5 year plan, see the current SaaS, see the growth from the partners, hopefully see a couple of new partners (Polaris would blow the doors off eventually but lets see if that materialised) and jump on board - a resurgence of some old partners would be nice like Cubemonk
We can move forward with Lokies, DHL, Cropx and Zero - that is worth WAY more than the current market cap and if they do land another large partner as per the RNS hints, then this could really motor - we are not THAT loss making either, $500K in H1 however the EBITDA was $160K loss so if business returns we will be profitable in no time
But, as I have said before, it is all about the SaaS, connecting units to the platform, ~$3m in SaaS and its bottom line profit for the foreseeable, $4m SaaS and you are looking at a market cap many multiples of here and likely $1-2m EBIDTA profit per year, for a tech company, you can start talking about PE's in the 30-40's etc. although some trade in the 60's and 70's albeit they are cash generative and have been for years
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