Another excellent set of numbers. Despite some delays to revenue recognition due to delayed trials, still posted US$45m revenue representing 38% top line growth and increased guidance on margins, EBIT, and operating cash flow for FY22. Company will be US$9.7m operating cash flow positive for the year with US$30.6m in the bank at June 30.
The EBIT guidance is where things get pretty exciting too - taking a midpoint of US$10.5m represents a 309% increase YoY. Converting to AUD$15.0m and with a current market cap of AUD$308m gives a PE multiple of 20.5X!!
Wow, that's a third cheaper than Telstra for those growth numbers!! And with a US$139m backlog of contracted revenue still to be recognised, just think about that for a moment...
CGS Price at posting:
$1.81 Sentiment: Buy Disclosure: Held
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