One notable comment I took from the letter was the one below regarding getting to profitability and the Trump tariffs. In all likelihood, Trump will be voted out of office in 2020 and those tariffs may be removed by the newly elected US Government. If that happens it would be a major boost for the bottom line. Let's hope the good people of the USA vote Democrats in 2020.
"Getting to Profitability I’m often asked about the path to profitability for LIFX. It is instructive to look first at last year, and then turn to 2019. Last calendar year (CY2018 revenues of A$38.5M), LIFX would have been profitable were it not for 1) the unexpected addition of the Trump tariffs (which took a standard 2.5% import tariff from China to the US up to 12.5% - remembering that the US is the single largest market for LIFX), 2) the additional cost of air shipments (vs. sea shipping which cost nearly A$1M in additional shipping charges) and 3) nearly A$10M of orders from retailers that were unable to be fulfilled or delayed due to capital restrictions with supply."
