Ann: Rapid Growth Continues as 1CG Powers Through 100,000 Users, page-10

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Rozting

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25/07/23

09:12

Post #: 68960194
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Originally posted by gainzman: ↑

The first update (90k) had a more specific revenue figure (1.7M from memory). The more recent 100k one just said "we've done > 1.6M". while it's all grand news, I'd have liked to see something a little more concrete in the most recent update.

I'm basically ignoring the movement for now, we're only in month 1 of the peak quarter. The ATO do say not to do your tax until the end July / early August, plus employers still have to submit end of year certificates and other data from all other sources has to be pulled in and collated. Plenty of time in the quarter to pickup yet more next-day-refund users, and then a trail of marketing to those users for cross-selling. It's always easier to sell services to an existing user than a brand new one.

If we see an announcement outlining expansion of the 1M loan facility that would be a good sign.. if the refunds are average 1k then $1M is only 1000 returns / users.. 0.5k then 2000 returns.. plus then the 2-3 week lag for 1CG to receive their funds. I think that would be more indicative of what the revenue could be.

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Agreed would have liked to have seen a revenue figure in there but I think that will come today/tomorrow. The July revenue they discussed was 1 July to 12 July 2023.

Would make sense to then have 13 July to 24 July for a comparable 12 day period.

Guess they were just really stoked with the 100,000 users and wanted to release that in its own right.

1CG Price at posting: 2.1¢ Sentiment: Buy Disclosure: Held
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