"Personally I wouldn’t place any weight on the FY23 figures for calculating P/E ratios etc, they’re ancient history given annual growth in revenues of ca100%"
Not sure that figures would be better if you take FY 24 data.
Remember that H1 24 EBITDA and NPAT decreased* despite an increase of 43 % for revenues (and a flat gross margin).
It is one of the difficulties with this company at this stage : not easy to assess their basis of earnings.
We can also see it via the volatility for their cash flow from operation (0.4 m$ in Q1 24, - 0.7 m$ in Q2 24 and 2 m$ in Q3 24**).
It does not mean that the company is not interesting (I have decided to invest in it), but only that it is still tough to assess their sustainable margin and cash flow, at this stage.
* mainly due to higher marketing spendings on new distribution platforms.
** Q3 24 was inflated by delayed payments.
A particular case, page-11
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