Although it hurts to say it, but as long as the burn is reducing I am happy. There must be 200 employees by now, new offices set up in India and we are always on the lookout to buy value adding bolt on's etc, so I would say the outgoings are getting larger but the incoming revenues should be exceeding these figures. Other than short growth periods, seems a good business principle to me over the longer term to not be overspending.
A good old read and just goes to show the leagues Migme is heading into to….take a look at the chart in particular. You can start to see some heavy hitting valuations when we do exceed over 30m plus MAU’s as there really is not many companies globally at these levels of audience interaction.
Migme is due a re-rate and this quarterly could be just the trigger.
MIG Price at posting:
90.5¢ Sentiment: Buy Disclosure: Held
