@shootandscore
Yes.
I don't remember to have seen such a case before.
My understanding is that they have capitalised part of their COGS : 4.6 m USD for H1 24 (vs 3.7 m USD for H1 23).
Usually, it is more R&D and software development which is partly capitalised.
Anyway, if we include these figures in their published COGS, we get a gross margin of 70.2 % for H1 24 (vs 61.6 % for H1 23), while they published a GM of 79.8 % for H1 24 (vs 70.6 % for H1 23).
That's still a decent gross margin for a SAAS.
This kind of accounting trick is also the reason why I try to value companies based on their free cash flow, as it is supposed to correct from most of the possible accounting problems. I also look at a free cash flow after lease payments and share based payments.
Ann: Catapult Reaffirms FCF Positive Guidance, After Strong Qrt, page-11
Add CAT (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$2.01 |
Change
-0.030(1.47%) |
Mkt cap ! $525.7M | |||
| Open | High | Low | Value | Volume |
| $2.04 | $2.05 | $1.98 | $7.036M | 3.453M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4663 | $1.98 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.01 | 13005 | 2 |
View Market Depth
| Last trade - 16.10pm 26/07/2024 (20 minute delay) ? |
| CAT (ASX) Chart |