Ann: FY21 Preliminary Unaudited Full Year Results Presentation, page-21

@madamswer
I came up with a similar view when I did my back of an envelope calcs:
- 2H21 revenues of ~$30m with a margin of ~20% gives $6m in gross profit (excluding any derivs revenues)
- costs are ~12m per annum

If we assume that revenue line continue to grow, each additional gross profit $ drops to the PBT line.

I dialled in to the call this morning, and they seemed to indicate that all cashflow was being pushed back into growing the customer base (and it looks like that committed shared solar will be one of the key drivers). My personal view is that growth will be restrained until they can get some funding product and they did say this was getting there - I think getting funding makes sense as long as they give up a little margin from the installation rather than dilute shareholders.

What was a little confusing was they indicated the derivatives revenues was 5.6m of which ~3m would be recognised in FY2022....that means that 2.6m in FY2021 and gross profit excl derivs is 12.3m which indicates a margin of ~22% (seems high to me)......I may have mis-heard, so if there was anyone else that listened in, would appreciate any comments.