What about most retail shareholders arguments that if mgmt deliver on their stated goals (grow ARR like a growth company) and move to a cashflow positive position, the share price will take care of itself
Instead, mgmt are spending time & money to come up with schemes to get funding (which according to them is also well capitalised & does not need funding), keep employees happy (well the only employees tied to the shareprice are mgmt), and apparently broaden it's appeal for investors (by delisting into an opaque and even more illiquid environment)
Let hope for a rejection of this hair-brained scheme (IMO) and also a 2nd strike on mgmt remuneration.....happy to pay someone as long as they are prepared to put the effort in for all stakeholders.
This from the 4Cs should highlight that the last 12 mths have been exceptionally poor - ARR for a growth company of 4%, receipts going down compared to the same period last year, and operating cashflows have shown no improvement over the last 4-5 quarters.
The issue is not liquidity, 'strategic' investors, market not recognising value blah blah blah.....it's mgmt and their total lack of performance (despite a strategic review, buying multiple businesses, striking collaboration deals etc ).....it's the STAGNATION that the market is reacting to. The board and mgmt need to go.....retail investors tired of mgmt is not the problem!
|
|
| Growth | Growth |
|
| Growth | Growth | Operating |
|---|
| 1 |
| ARR | QoQ | YoY |
| Receipts | QoQ | YoY | Outflows |
|---|
| 2 | 30Sep19 | 42.9 |
|
|
| 8,483 |
|
| -9,082 |
|---|
| 3 | 31Dec19 | 52.7 | 23% |
|
| 10,418 | 23% |
| -6,870 |
|---|
| 4 | 31Mar20 | 55.2 | 5% |
|
| 10,868 | 4% |
| -8,821 |
|---|
| 5 | 30Jun20 | 53.8 | -3% |
|
| 11,199 | 3% |
| -1,096 |
|---|
| 6 | 30Sep20 | 57.1 | 6% | 33% |
| 12,026 | 7% | 42% | -2,463 |
|---|
| 7 | 31Dec20 | 58.1 | 2% | 10% |
| 13,005 | 8% | 25% | -13,562 |
|---|
| 8 | 31Mar21 | 58.9 | 1% | 7% |
| 12,185 | -6% | 12% | -2,285 |
|---|
| 9 | 30Jun21 | 62.8 | 7% | 17% |
| 14,622 | 20% | 31% | -1,248 |
|---|
| 10 | 30Sep21 | 64.5 | 3% | 13% |
| 14,574 | 0% | 21% | -1,094 |
|---|
| 11 | 31Dec21 | 64.3 | 0% | 11% |
| 15,307 | 5% | 18% | -1,291 |
|---|
| 12 | 31Mar22 | 64.1 | 0% | 9% |
| 13,936 | -9% | 14% | -1,287 |
|---|
| 13 | 30Jun22 | 65.6 | 2% | 4% |
| 12,930 | -7% | -12% | -2,254 |
|---|
(20min delay)