Not easy to compare qoq, as we know that there is a significant seasonality : Q2 is their strongest quarter and Q3 the weakest.
Unfortunately we can't compare with Q3 last year, which was not disclosed.
They just disclosed Jan-April 23 : revenues were 141 m $ (+ 122 %) and EBITDA was at least 7 m $.
Based on these elements EBITDA margin seems a bit weak for Q3 24 (3.1 % vs 5 % for Jan-Apr 23).
It is not explained by delivered margin, but by higher marketing expenses, according to the details they gave.
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- Ann: Q3 FY24 Trading & Market Update
Ann: Q3 FY24 Trading & Market Update, page-9
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