Ann: FY24 Results Presentation, page-17

The webinar was very informative and everyone spoke well.

My key takeaways from the Q&A:
- Identifying an acquisition opportunity is a priority but they also want to find the right ‘fit’ that complements their existing offering. They are aware of the high cash balance but also want to make sure this move is strategic.
- Geographical expansion is a big focus. They won’t commit to US sales figures but seem optimistic. They did mention Europe was being analysed at the very early stages.
- Changing manufacturing arrangements (i.e. building their own manufacturing facility) seems like not a high priority given the current high margin and low overheads/risk operating a contracted model and feel capital can be better deployed elsewhere. They kept this door open though and didn’t rule it out.

Attendees seemed highly engaged. A solid Q&A session. Certainly a lot more interest in this company compared to 12 months ago. DYOR.