Vertical integration is not the priority but in this case it’s very relative because one division (BTS) designs & produces world class testing equipment that reduces R&D timeframes benefiting another division (NAM).
BTS provides $8m so not peanuts.
NAM after a lengthy process requiring substantial funding is nearing the turning point for actual revenue. 2025 will see the majority of opex covered by NAM’s revenue.
Maybe it is you with the blindfold Kokoro, this is no longer 2021
Ann: Application for quotation of securities - NVX, page-5
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