Ann: 3Q2019 Update - Goldman Sachs Tech Day, page-29

This is interesting,

Onboarded 95 customers; represents 31% of approved customers. Therefore total approved customers c.306. The revenue generated up until Sept 30th from 95 customers, what will the immediate future look like...with 211 customers approved but not yet onboarded? Loving it! No wonder QRT 4 cash outflow is so much higher, product manufacturing costs more than doubling to $11.2m. Unless some of the costs are for future revenue streams (Fy2020), qrt 4 revenue will be massive applying qrt 3 rates.

Approved means: due diligence completed, contract executed, security amount agreed, and integration scheduled.

DYOR