RE: Breakeven by end of calendar year12 Nov 2025 12:26
Brock,
I agree with Esco.
Logically, I believe 750k is achievable.
Paul states in the interview that one production line was delayed in starting, others were affected by tariff issues.
Q1 figures are historically low - (6%, 5%, 6%) - it is a well known documented fact that this is down to seasonality (not sure why that wasn't mentioned as it usually is for Q1 figures) Personally, these figures are *exactly* what I was expecting for the season i.e. around 5-6% increase quarter on quarter.
The following quarter is historically high (26%,33%) there was a discrepancy in the Q2 2024 data - but hey the following quarter there was an increase of erm.....51%. So 50% is more than achievable imo.
It is not unrealistic to see these percentages increases a little to 50% following SOP of at least one programme, ramp up of MAGNA in china, easing of tariffs affecting the auto industry, and the increase in European production for GSR.
I would say fleet is exceeding with todays AMAZing RNS and the news that they are already at circa 50% of target in the first few weeks of the quarter.
But anyway, none of this is going to affect the upward trend in SP imo - even if you believe todays figures are disappointing the fact of the matter is that growth is ongoing - those that are buying in volume now are doing so for the longer term growth prospects - even in the unlikely event that they do achieve cash flow breakeven a month or so later than planned.
You are asking for reasons to buy back in - I would suggest that the resilience of the SP despite todays negative narrative by the usual suspects on this board is evidence enough that the serious investors are more than willing to mop up the shares dripping from weak hands.
Exciting Times Ahead! (Regardless of SP)
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