Fair, but also to be fair this company looks to be doing rev growth %s beyond it's cost growth %s. Overall cost per quarter has been relatively stable in last 12 months (av around $2.25M a qtr) although staff and admin costs are only just increasing less than revenue growth as a percentage. They really need to turbocharge rev growth without increasing costs by too much to do so - otherwise it will be a long road to cashflow +ve and a lot of dilution in the meantime...
Fishy’s 40 bagger, page-269
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