23 months invested loss = 23%, page-2

Seems worth re-posting one of my posts in response to the last FY results. If you believe that the trajectory is in tact you don't have to be a math wizard to see where things are heading. The SP and MC can only be so long remain suppressed.... must admit thought that the opportunity cost and test of patience are not great as I don't understand myself why the SP is still below 30c let alone my other price targets (other than the brothers fighting and our two lads from Legoland offloading).... If they keep doing the right things, 2021 should see the SP increase. And if they hit a large US gov contract or if the LVT/LNU tool takes off in terms of onboarding a few big customers, 30c will look cheap much sooner....

From August 2020:
No surprises in the report and based on my rough calculations based on this and last year's FY report, they are definitely heading in the right direction financially (very solid) and hopefully soon also in terms of market cap (MC). Revenue up nearly 100% (despite given out all these free trials which will lead to more revenue in FY2021), Net equity per share up 43%, Loss per share down nearly 50% and yet share price down more than 40% and market cap also down 20% (yes, if you include all oppies etc you will get to MC=$203.5 but than the 2019 MC was also higher).
Hmmm.... I would call this undervalued (quite significantly), but that is me and I am very comfortable with my decision to wait and see how this plays out

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6	Column 7	Column 8	Column 9	Column 10
		ARR	Rev	Net Loss	Net Equity	Shares	Loss/share	Equity/share	SP 27/08	MC 27/08
	2019	40.1	22.5	42.7	40,843,398	552,104,149	7.8	0.07	0.40	220.84
	2020	53.8	44.5	31.7	83,697,254	789,942,896	4.0	0.11	0.225	177.74
	%change	34%	98%	-26%	105%	43%	-48%	43%	-44%	-20%