Mentioned before:
Total revenue Q4 FY22 = $5.1M - $3.312M Parton's FY21 average - $0.2M Kaddy current - $1.02M DW8 Q4 FY21 = $4.532M so Parton's/DW8 had growth of $568k YOY = 12.5%.
The growth is less because Parton's rates went up 3.65% on 1/7/2021 + 7% fuel levy in Q4 FY22 = 10.65%.
Therefore, YOY organic growth for logistics = +1.85%. With all the sign ups there should have been more growth unless there were also about the same amount that stopped being customers.
And Kaddy has gone backwards since acquisition.
Run rate revenue in Kaddy acquisition presentation was $21.2M using Q1 FY22 figures & it is now $20.4M. Being fair & allowing for seasonality as well as comparing to same quarter prior year will be about $22.4M revenue run rate using Q1 FY23e of $5.6M so growth of +5.66% YOY.
The triple digit YOY revenue growth figures will disappear soon at this rate of growth. Say they have revenue of $6M Q2 FY23e / $5.6M Q2 FY22 = +7.1% YOY. Standard single digit logistics company growth rate. Not growing fast similar to ecommerce fulfilment 3PL's.
Logistics rates going up 10% on 1/7/2022 + 2% organic growth = +12% YOY growth forecast at current growth rate. That's why report mentions logistics to make a profit ex-corporate overheads = bullshit as have to deduct expenses prior to making a profit. Like saying my shop will make a profit if I don't pay myself a wage & don't pay the rent or any bills. Will take forever to make a profit growing at +12% YOY organically. Have to make at least an extra $10M GP to cover annual cash burn with about $2-3M organic revenue growth at 50% GP = $1-1.5M pa GP so will take 8-10 years. We'll be diluted into a NOLO drink.
Interesting to see what the SP does tomorrow. Fundamentals say dump but the chart has an inverse hammer that is bullish as well as OBV, MFI, RSI rising.
(20min delay)