As a long-suffering holder of this stock, I basically agree with you
@EarlyRetiree. Management have a long history of cherry picking whatever metric looks the least bad each quarter, rather than acknowledging the problems in the business
There are, however, some positives in this result.
Zameen is clearly recovering. If it can get back to where it was a few years ago, FDVs 30% stake would easily be worth greater than the current market cap ($128 million).
There is at least some increase in revenue. And genuine cash flow positivity (although minimal).
Can anyone explain to me what is going on with Infocasas? Revenue down by 56%. Previously this was one of the best parts of the business. Is it because the "Iris" revenue is not received until a sale is made, vs the previous model where revenue was received earlier?
(20min delay)