Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-39

There can be no doubt the market is not engaged in CCR - volumes have been tiny for months...
I can't work out why?
Perhaps the market doesn't like the space - debt collection
Or can't see how CCR can achieve high growth
Or simply isn't looking - too busy worrying about macro-economics
But as a probability of success - I rate CCR as one of the best growth stories on the ASX:
• winning product - high NPS...
• winning hybrid approach - digital + call centre
• proven blue chip darling
• improving margins
• genuine international opportunities
• impressive pipeline
• breaking into new sectors - insurance...
• $35+ mill annual rev
• operating profitably
From an MC of only $135 mill - this could easily 2-3 bag - you can't say that about many stocks right now.
Points to note:
• CCR rev is not clockwork - companies don't press the debt collection button to the same extent every month - eg most back off over Christmas
• Techub have promised to transact with CCR for some time now - but have delayed - the next 3 months will be very telling
• CCR have clearly pointed to the ramp up process required with customers - wins from last year are due to significantly increase revenue over the next 6 months - we shall see soon enough
• insurance is set to grow quickly - this should not need to wait for tenders like debt collection as its a new service, at-fault engagement - we shall see

There is a very real possibility that a combination of announcements will land in the next 3-6 months that would catapult CCR into a re-rate.
• Winning a big 4 bank
• Winning other insurance majors
• Evidence of significant international revenue
• Significant increase in revenue from existing customers
• Significantly improved margins

That's my investment thesis right there - I think the odds are more than decent - always about probabilities though! DYOR.