I was under the impression the drop was due to dropping from $8.8m revenue to $5m. That was all that caught my eye. Not sure why they waited until the last week of FY to call this out. Surely you'd know ahead of time you were going to miss $3.8m. The rest of the announcement wasn't really material at all. Deserved some punishment but was a bit too dramatic. Plenty of upside for FY21.
If I was to guess, someone stuffed up and didn't stay across the numbers. I've been in this boat before at work. I run an on-prem infrastructure service which has a cost base of over $25m p/a. You have some complex spreadsheet with formula's everywhere. Then all of a sudden its that horrible conversation with the boss that you'll miss on plan because some numbers on some sheet weren't referenced properly.
Here's hoping we have a cracker start to FY21. The targets $20m so it's a sprint from day 1.
DXN Price at posting:
1.6¢ Sentiment: Hold Disclosure: Held
