Had a quick skim, and a few things stood out to me versus K2F's prior year financials:
Revenues increased 24.16% (from $5,601k to $6,954k).
GP Margins increased a lot - from 41.1% to 52.95%.
Nett loss decreased from $3,330k down to $2,962k.
The $2,962k loss included a total of $1,342k in costs such as Sateva & Decipher stamp duty / acquisition costs ($422k), share based payments ($558k) and amortisation of software expenses ($362k).
Cash at bank increased from $2.92m to $6.9m.
There is no doubt that we would all like the K2F story to unfold quicker (my holdings are up a total of less than 15% in the past few years), and coming from a low base they definitely need to crank up revenues quicker - with larger $ sales (especially from Decipher) hopefully coming soon.
But this is clearly a very solid business that is heading in the right direction - hence the increasing shareholding interest from all the large institutions recently (CBA, Regal, Tribeca, CSBP etc).
I'm really hoping K2F can bust out a 40% + revenue growth year & continue to improve their GPM to 55% with the added scale - and with some reductions in the more "one off" costs listed above.
That would really set this business up for success, and also result in a serious share price re-rate
