Ann: Activities Report and Appendix 4C, page-22

Thank you all for some great insights. Here is another insight from my analysis:

• Units shipped & invoiced during 4Q of 16072, compares with the total of all previous orders not yet shipped & invoiced of over 87,000 as at the start of 4Q (this figure is not reported by Beam, but is easily calculated from data that Beam does supply).
• This strongly reinforces Beam's comment that they are "struggling to keep up with demand". Consequently, the numbers of new orders (which was not reported) is likely to be very low - what's the point of ordering more when earlier orders have not been delivered?
• This leads me to believe that, as the supply constraints start to resolve, and all the outstanding orders get shipped over FY23, the growth rate in numbers shipped and in subscriptions will astound us all. There will also be additional orders to fill.