Overall reasonable result. Was expecting (hoping) slightly higher growth.
- Assuming 20% growth in H2 ~ $113m full year result.
- Video growth making up for slower wearable growth, although still very skewed to US (only added 100k revenue rest of world) Still too early to know if this is a positive or negative - positive in that massive market untapped, or negative in that we cant crack it. Uptick in cross sell to existing so plenty of room here.
- Playr not really doing much. Smart to cut costs, but has to be on the table as to what next with this division.
- costs as a % of revenue down, good to see this continuing in right direction.
- Cash at bank - good
Can see why it was sold down. Market fears aside, needed to see growth trending up a bit to hold valuation. Either the market opportunity is slowing a touch, or it is the consequence of the change out execs. My take is it is the latter.
Ann: H1 FY20 Results Presentation, page-27
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