I have finally listened to the interview. The thing that stands out most to me is the comment "wall as a service". This means to me that they won't sell or rent the machine but will build walls at a per m2 rate. Therefore, they only have to demonstrate to the builder that they can save a percentage (a small one) to entice the builder to use HX for the walls instead. Then they can keep the rest of the profit for themselves. This does mean that FBR (and perhaps WB) will need to pay for the machines upfront and payback will be over a longer period of time, but with a greater level of payback. It also means that they will probably need to do a CR to build a fleet of machines. I had previously voted NO for the CR question but if the model changes, then so does my answer.
FBR Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
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