Ann: Quarterly Update - Strong Q4 & Large Increase in FY21 Sales, page-8

Looks pretty good to me. Aus numbers are a good start and the transparency is even better.

At their quoted average $45 p/m per subscriber (last presentation pack states average Australian revenue per user) they have added $700k gross Aus ARR since Australian launch just over 6 months ago or $490k to beam for their 70% profit share

the network effect of these people hiking with others / communicating with their families etc for word of mouth growth can’t be underestimated either

given the qtrs growth on last qtr is stated as 132% they added 740 Australian Zoleo device subscribers or $400k gross ARR just for the qtr.

this also means the current qtrs sales rate flatly annualised is 2,960 devices a year but they go onto state further strong growth expected. Given Aus post has only just come online effectively doubling the retail distribution footprint this means the 740 devices to new subscribers this qtr came only from half the current stockists which would support next qtrly blowing this right out of the water

looking good