Ann: Beam Receives Additional Order for 5000 Iridium GO! Devices, page-7

Last time I took a detailed look, margins on ‘other equipment, ex Zoleo was around 40-50% which sounds about right. Zoleo’s lower equipment margin has diluted it now but we can compare before and after to get a rough number. This buckets all other equipment though so the GO could be higher or lower but it provides a guide.

Also don’t forget that the Certus devices will be out soon and that will provide a huge boost. These are a generation step change in speeds and capability. Also, the good thing is that the high capitalised amortisation charges of ~$2.5m per annum have been invested in Zoleo and these devices so the investment in design has already been made which should see that cost reduce in future periods while we’ll also have the incoming revenue and profit coming through.

I know for holders it’s frustrating that we’re not seeing the love. It will happen. I’m very sure about that and because we have a tight register this will fly past 30c very quickly. We’ll all regret not loading up more in the mid 20s