Overall a decent result here, especially given the hit to OOH media, especially to rail, as a result of COVID.
How long it will take crosstrack to recover remains to be seen. Fortunately, the team have pivoted in a direction more focussed to place-based media and adtech. Several of their new avenues were only announced mere weeks before the end of FY20 and should contribute meaningfully in 21. Indeed, the Adline acquisition should be a $1m+ revenue line, and the Swift partnership should equally be close to the existing rail income. The Engagis partnership is hard to quantify at this stage but should be meaningful and high margin.
Interested to see how the market responds post result and indeed post rights. I for one will be accumulating on any weakness.
XTD Price at posting:
4.7¢ Sentiment: Buy Disclosure: Held
