They are forecasting revenue of $36.9 million in FY23. Their market cap is now down to $84 mil. Unless they are telling outright furphies, I think that they are probably starting to be oversold. I'm not going to try and buy the dip just yet but I am thinking about it. Reporting season starts on the 28th, so I have a bit of thinking to do between now and then.
I realise that its all contingent on them getting more uptake, but on balance, I think that in the fullness of time that may come.
The thing to realise is that this is not your normal tech company that relies directly or indirectly on consumer discretionary spending. It sells to governments that then recoup the cost in fines. To be honest, I see governments having to rely more and more on these types of revenues, to say nothing of the need to improve traffic safety.
ACE Price at posting:
$3.01 Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)