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$2.19 nitro software limited

Ann: 1H 2022 Results Release, page-5

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risso

482 Posts.

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30/08/22

08:47

Post #: 63397347
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Originally posted by tobal: ↑

The low NTA doesn't overly concern me. It would have been next to nothing late last year (November 2021) when the company was raising funds at $3.43 per share, and seemingly the issue was then well supported by Insto's and other shareholders.

The amount of costs categorised as Sales and Marketing Expense surprised me, however I suppose that it is a vital thing at this time - expand, gain scale, and secure clients, before competitors establish themselves.

Cash and working capital look Ok to me at this stage. If you leave Deferred Revenue out of Current Liabilities then it appears quite healthy, although the business will be under some pressure from the market to show that it can "turn a profit", and become cash flow positive in accordance with the Directors predictions.

The Directors Report says "The Company's growth strategy is founded on 5 primary levers". I would have preferred a sixth - something like: "Sound and carefully measured financial management". The growth strategies still includes "Mergers, acquisitions and partnerships". Fair enough, but would need to be a compelling bargain if they wanted shareholders to contributed more capital.

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Looks like theres an offer in from PE - Potentia Capital @ $1.58

NTO Price at posting: $1.13 Sentiment: Hold Disclosure: Held
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0 Great analysis

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