CCR break even at $36 mill - so they are basically in profit from here on
For this FY:
They gave written guidance of around $40 mill (which I believe to be ultra-conservative)
And verbal guidance of $46 mill (which I'm happy to go with)
We await:
• more clarity on the insurance product - $, new customer wins, possible overseas expansion...
• overseas expansion strategy more broadly...given in profit - can fund expansion...
• more clarity on margins
• faster onboarding - I would think they can improve this to some extent
• other innovation - taking engagement platform to new sectors....
• more clarity on speed to victory for target customer sectors - big govt, local govt, big banks, other credit majors...
My thesis:
CCR have proved they can win many utilities, banks, credit providers...
They have opened up a big opportunity in local govt - 1000's councils...
They can even provide services to their competitors ...
They can repurpose their engagement smarts outside of debt collection eg at-fault claims in insurance
They are a shoe-in for a roster position on any enterprise client in Australia - on a panel of 3 or 4 - as there is very limited effective competition
This business is set to have a great year - and can only pick up speed from here
CCR break even at $36 mill - so they are basically in profit...
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