Thought this was a really strong update and 4C (after a "mixed" March 2019 report).
The SP at the end of the day didn't reflect this (think the SP was played with a bit today - see comments below), but some highlights for me being:
- Revenue hitting $2.5m for the quarter - up over 20% from previous quarter. 20% quarter on quarter growth would turn into some serious year on year growth if it was to continue As pgrace says, the market cap of NOV is now just 3 x current revenue?
- Processing revenue improved again (after flat lining last quarter).
- Really liked this statement "With the ongoing commercialisation of new products and services, revenues are expected to continue growing. Based on our performance history, our ongoing growth across a wide range of offerings to the customer and improved market penetration, Novatti is aiming to achieve our first normalised operating profitable quarter (excluding restricted banking license) this financial year.
Regarding the share price action today, found it interesting that the price was "stepped down" by 3 x tiny CHIX orders throughout the day:
SP dragged down from 20 cents down to 19.5 cents - CHIX order for just $532.35
SP dragged down from 19.5 cents down to 19 cents - CHIX order for just $518.70
SP dragged down from 19 cents down to 18.5 cents - CHIX order for just $505.05
IMO, SP will slowly move up from here - unless some shareholders are looking for something that moves a bit quicker? But the RADI licence coming anytime in the next few months should definitely be an enticement to stay with NOV.
NOV Price at posting:
18.0¢ Sentiment: Buy Disclosure: Held
