I don't have an accounting background but I try to learn some accounting stuff to help work out things like this i.e. are the numbers supporting the story as well as to hopefully identify an natsties (general comment not referencing AHZ).
If others, either retail of insto, see what I see then yes it could be a reason why the SP remains low despite the strong trend in revenue growth. Spending the growth is fine if its has high ROI but the issue arises when the story is tight cost control and push to breakeven, but the actions show spending the growth as you go. There is always a natural allure spend it once you get it in the theses types of companies and have see the something in other names. But these issue that comes form this is that it reduces credibility when the story and actions diverge. Maintaining credibility is key to drawing new and retaining existing investor interest/support.
I like many things about this company and have followed for a long time (never invested) but wouldn't consider buying till the statements fully align with the story.
One thing I have struggled to clarify, was the 2018 year target of $33m revenue initially a FY18 target? It appears things have transitioned to a CY basis and if the numbers are the same and the period has shifted, WP maybe have been sneaky and essentially given the company an extra 6 months extra to make BE and not "miss".
AHZ Price at posting:
26.5¢ Sentiment: Sell Disclosure: Not Held
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