If entirely and impartially honest. fairly ho-hum if not a little disappointing results.
First, the developments post-quarter, with a jump in sales to $5.2m in a couple of weeks. and inbound interest in new products rising, is great. That's a positive, we can all take heart in that.
However, the comparisons and touting achievements like revenue being '20 times' greater than the pcp is a bit absurd, since not comparable at all, and arguably, should have been higher. The company paid a pretty penny last year to acquire Omniblend and at the time that business alone was expected to see around $30m in revenue for the year ($7-8m per quarter). In the last quarter of calendar-2019, there was a pass there for failing to provide that contribution on account of the fact they were integrating two facilities and disruptions were likely interrupted. In this most recent quarter, however, I would have expected a far greater contribution based on what we bought into.
The cash side I understand is as a result of forward ordering and extra staff, but the underlying performance of Omniblend seems to be significantly lagging historical performance, yet alone showing signs of growth commensurate with what we paid.
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