Well, they're hoping to double ARR by end of next year, from $6M to $12M. If they hit that with a linear increase it suggests recurring revenue around $9M for FY20. If they can keep non-recurring revenue in line with 2019 that would be a total of ~$12M.
So it all depends on their margin. At 2018 levels (~60%) they'd be roughly cash flow breakeven for the year, suggesting cash flow positive in 2H. But at 2019 level (~30%) they'll be about $3.5M short; they'll need revenues of over $20M to hit break even.
EVS Price at posting:
12.0¢ Sentiment: Hold Disclosure: Held
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