As far as revenue goes, you may be missing any attribution to growth in 2HFY23. Sure, 1HFY23 revenue was A$10.44 for about 110,000 cycles so that's an achieved price of $95/cycle. For 2HFY23 the CEO has already stated that cycles in December 2022 were 20,000 and by February cycles were growing by 5%/week, so if one was to assume those figures for the remainder of the year, that's about 240,000 cycles for the second half and possibly A$20-25M for 2HFY23. So my figures for FY23 are closer to A$35 than $20.
My projection on this basis, is that we will be exiting June with a weekly sales cycle of between 14,000 to 20,000 and if no further growth occurred in FY2024 we will have sales of between A$70 and A$100 m for FY 24. That's a profitable product, sure not the US$200M projected. With modest 2% weekly growth in FY2024 we are looking at closer to A$140M.
MYX Price at posting:
$3.60 Sentiment: Buy Disclosure: Held
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