Ann: CCR 2022 AGM Company Presentation, page-2

Worth revisiting this CCR presentation from barely 2 months ago. Grow revenue to $100m pa within 3-years? Let's be generous and say the starting point is December Quarter 2022 and the end point is $25m for that December Quarter (2025) so an ARR of $100m after 3 years rather than delivering $100m over the final year of that period.

Normally it's easier to achieve greater percentage growth from a smaller base (notwithstanding some network effects) but let's assume a consistent compounding rate.

If we're starting at $8.4m that implies a (steadily compounding) revenue growth rate of 9-10% per QUARTER to get to near $25m in that December 2025 Quarter. Given December seems to be a seasonal low the first couple of quarters should be the easiest. It shouldn't be too hard to track progress against their own objectives from here.

On that measure anything less than $9.2m revenue in the March Quarter would be disappointing. We should really be expecting at least $20m+ in this second half considering we might reasonably expect a bit of catch up following this poor December Quarter.