Ann: Babylon Quarterly Update and Appendix 4C, page-2

I don't get it when this company (that focuses on Rental) gets all excited about having positive operating cashflow, % improvement is their operating cashflow and how many consecutive quarters they have. You don't have an ongoing rental business unless you count the depn or capital purchases (if they own the assets) or the financing costs (if they lease the assets). They have all the rental revenue in operating cashflow, with a fraction of the rental costs.
I get this is a cashflow statement, but they are incorrectly excited. Shareholders should also have an issue with their executive performance payments for very little performance (other than safety - that's a great result).