Good summary, important to understand the different between the cash flow statement and the P&L.
Note 3 covers this off, with the adjustments for unearned revenue.
Note 3 also covers off revenue by region as below. Considering the low levels of revenue in the UK, Canada and US, it just shows how big the opportunity is. If I was the MD, I would have a couple of dedicated sales people that focus on companies where they can land the relationship in Aus/NZ where we are better known and then expand the solution to other regions they operate in, specifically UK, Canada and US.
UK, Canada and US need to be a big focus and the sooner they overtake NZ the better for revenue contribution.
The report was in line with my expectations, no surprises, just at the end of a long rally, so time to consolidate during this risk off phase.
(20min delay)