Yes, it's a very young company trying to get market reach for a product that most people won't understand the full benefits of until they use it. This for me is the biggest risk - I've tried it before in a tech related venture and couldn't get it off the ground. That said, Jason Waller is a seasoned CEO who guided Spookfish through IPO and eventual buy out so he has the experience to be successful in this space.
At the very least I would say to waiting for the next quarter or two of sales figures.
Aged care is structurally stuffed (technical term) - it has never had enough beds or staff available. Staff and beds are getting worse, not better. In terms of thematics, ageing in place and hospital in the home are trends that will continue.
I agree there will be lots of competition in the future but this company has been developing good distribution networks with Microsoft, Optus, and Local Area Coordinators in NDIS market as well as other distributors. They have a relationship with University who are well know and respected in the health informatics community in Australia (I've met some of them at conferences) who will being bringing their IQ points to perfecting the AI.
There are adjacent markets for the technology like asset management but they are focused on supporting more independent living in place.
It's definitely a speculative buy at this point but the thematics, CEO experience, and general approach company has been taking so far all seem on track to me. Time will tell, I guess.
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