Hey there Durian
Just wondering why you single out Nour in particular? He's a BD guy and I think any perceived issues are above his paygrade. There is a new chair at the helm. Coming out of Macquarie Bank, I'd hope he doesn't need the gig for financial reasons. Rather, I would like to believe he sees the same thing we do - a company with great potential in a very technical space. I would expect a chair of his caliber to work to understand the machinations of the quarterly quickly and provide the requisite guidance to better navigate the next.
What's clear out of today is that Pointerra are going to have to string more than two quarters together to demonstrate they have become a sustainable, self funding business. Do I think that day will come? Yes I do. Has it happened across three quarters? Well the $100k cash flow positive doesn't feel that today but, it is getting closer and Q4 may just round out a positive FY25.
The quarterly highlights just how long these enterprise sales cycles are. Take the T1 mining pilot. That has progressed from three month long sprints into a single mine pilot (multiple months required to demonstrate benefit?). A 40 site material contract is a little ways off. It takes a lot of effort (and patience) to convince decision makers that transforming long engrained manual processes is worth the effort and pain.
What this also highlights is just how immature the verticals Pointerra are targeting are. Mass uptake of Lidar point clouds for asset management is still a little way down the line. What we have now are a handful of companies across each sectors that are innovating in pockets by way of projects.
Finally I think the quarterly highlighted just how destructive the new US Administration has been for business. CEOs of all sectors and company size are reporting a paralysis hence the slippage of GRIDS and major utility milestones (which would have brought in more receipts mind you). This may continue for a while yet but, the company has reduced headcount in the States over the last 12 - 18 months.
On the potential for another raise: I will take the guidance on Q4 at face value. Where the company has previously said something like "the business has a proven ability raise capital when and as required" it reads more confident of returning to OCFP in Q4 (albeit with some wriggle room).
I'm sure there are plenty on here that don't like hearing from me today. I am bullish about Pointerra's prospects and remain so but, the $700k did surprise me at first look this morning. If this look like its trending towards undervalued again (as I believed it did in Oct - Dec last year) I will reenter accumulation mode. Until then, I'll continue holding what I have into the next quarterly and reassess then.
@Kfann@Rokewa@Brett M H would like to hear your thoughts. Equally, understand if you don't want Pointerra on the brain today.
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