In fairness, government grants/incentives helps this a bit, but at the same time, you get those back after you've spent money upfront with R&D.
Some nuances to take time to review, but that's my first glance take.
Overall pleasantly surprised, good platform, and interesting to see the services revenue as a proportion of total revenue is still increasing...
Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-5
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