A sequential shocker and well down on consensus adjusted EBITDA for FY24, over 10m miss.
Revenue down 24% on Q3.
At mid-point of Q4 adjusted EBITDA guidance (1.45m), margin collapsed from 2.33% (Q3) to .77%. Remember, the Q3 margin was already deeply disappointing as INCLUDING Q3 the 9 months YTD margin was about 6%.
The company might not even make an adjusted EBITDA positive outcome q4.
The "adjusted EBITDA" profitability of the company has basically evaporated; the GAAP position of the company is now loss making in Q4.
As myself and may others have pointed out, the company has only one lever to pull: price. Maybe competition dulls in the coming months, but it highlights that the business really doesn't have any competitive advantages and its only as good as a google search showing its products as the cheapest, and being in front of the consumer to communicate that constantly is very expensive.
Ann: Cettire Confirms China Launch, Provides FY24 Update, page-58
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Last
$1.36 |
Change
-0.065(4.58%) |
Mkt cap ! $516.5M | |||
| Open | High | Low | Value | Volume |
| $1.43 | $1.44 | $1.35 | $4.463M | 3.225M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 64570 | $1.35 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.36 | 4000 | 3 |
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| Last trade - 16.10pm 17/09/2024 (20 minute delay) ? |
| CTT (ASX) Chart |