Sit tight on this one. I wouldn't even bother looking at the share price until early next year.
They had $4.2m in new bookings in 1 quarter and said $760k in new bookings was "soft" in the latest quarter. They now have 10 sales staff as opposed to the 4 sales staff they had in the quarter they signed $4.2m (although $1.2m of that was through the partner program). Each sales person has an enterprise sales quota of $1.3-3.9m.
Give it a couple of quarters for revenue and subsequent cash flow to be fully realised. The Aug-Oct quarter is where cash receipts should surpass $1m+. Current quarter cash receipts probably about $500k due to the 5-6 month cash lag. Actual revenue is probably closer to $1m.
Compare this to the following tech companies and their lofty valuations:
- RAP has a market cap of $257m and had $0 cash receipts in the latest quarter.
- UPD has a market cap of $218m and had US$72k cash receipts in the latest quarter.
Broker data, page-42
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