Have to really start wondering what the end goal is now for Raiz. Prime it for sale perhaps?
The growth story looks done and dusted: Australia is now flat to declining and the growth from SEA is so immaterial to revenue that it probably isn't even worth providing such frequent updates. They are just nowehere near profitability either.
Cash balance is strong, but burning through 2.3m a quarter; they are just going to aggressively eat through it over the next ~2 years unless something changes. At which point something seriously dilutive is on the way.
Hack marketing and R&D to the bone and cut headcount, maybe close the SEA operation as a result..... and PERHAPS there is a story about a slow growing, but sticky/long dated cashflow Australian business.
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Have to really start wondering what the end goal is now for...
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