Based on production guidance they were supposed to produce ~6.1M units in H1 2021. Selling at between $3-$4, that would be $18M. So having $4M rev, only gives 22% sold. No matter which way I look at it, they are well behind the 8-ball in terms of sales.
Dont even care about losses, they need to get BD happening asap and start selling!
TGA approval for HIV in Nov should've been doing something by now, not keeping rev flat.
Employee expense doubling doesnt help either. Sales guys not hitting goals?
Balance sheet still remains healthy at least & almost cash flow positive.
Probably going to be some pain until next Q or FDA approval for COVID test.
I think there is still some cause for optimism, but frankly flat revenue growth H2-20 to H1-21 is a big disappointment.
If the SP keeps dropping, low 20c would be a great top up though. HIV testing ramping up & FDA approval will be decent catalysts.
AT1 Price at posting:
26.0¢ Sentiment: Hold Disclosure: Not Held
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