A 4C and Annual Report are 2 separate things. The 4C is on the way but based on the FY24 Annual Report, Spenda is definitely on a strong growth trajectory, with a 73% increase in revenue and some solid strategic partnerships, particularly with Capricorn Society and Carpet Court. However, they’re not cash flow positive just yet, which they openly acknowledge.
They’ve put in place the foundations for sustainable long-term growth, and while they haven’t hit break even yet, they’re making good headway. With the continued rollout of their payment solutions and the integration of Limepay’s technology, they seem to be on the right track for a good FY25.
Given the solid 160% growth in payment volumes and their ongoing strategic efforts, I’d say they’re well positioned to reach cash flow positivity in the next 1-2 years (more likely the latter), provided they continue to scale up as planned and manage their costs effectively. Of course, like any business, a lot will depend on how external factors play out, and how management work towards reducing OPEX, but the direction looks promising.
SPX Price at posting:
1.3¢ Sentiment: Hold Disclosure: Held
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