Q225 vs Q224 meaning the Dec quarter just released vs Dec last...

Q225 vs Q224 meaning the Dec quarter just released vs Dec last year.

You're thinking Dec vs Sept?


Receipts for Dec vs Dec is +26% YoY (as per the announcement). But expenses are not +1%.

Or Dec vs Sept is +53% receipts (but not representative, as it's seasonal). Expenses are -0.5%. Or +1% if removing Product Operating Costs. But then does it make sense to show receipts YoY but expenses QoQ?





Unrelated:
Sept Quarter (deferred invoicing)


Dec Quarter: I wonder if this deferred payment came through, skewing the cashflow upwards, or if it's still pending until the seasonal high when most schools pay. I guess this quarter was natural and it remains unpaid, and the -3% cashflow for the rolling 12 months is missing this deferred payment, due soon, likely this coming quarter.