It's clear to me that we all need the underlying quarterly results before Speik.
After removing an estimated $0.3M of revenue and cash receipts to account for likely Speik contributions to the December quarterly figures (see my last post), the underlying revenue and cash receipts trends are as follows:
| Quarter | Mar-19 | Jun-19 | Sep-19 | Dec-19 | Mar-20 | Jun-20 | Sep-20 | Dec-20 |
|---|
| 1 | Cash Flow Customer Receipts ($M) |
| 0.966 | 1.29 | 1.234 | 1.41 | 1.645 | 2.75 | 3.94 |
|---|
| 2 | Growth Rate Qtly |
|
| 33.5% | -4.3% | 14.3% | 16.7% | 67.2% | 43.3% |
|---|
| 3 | Growth Rate PCP |
|
|
|
|
| 70% | 113% | 219% |
|---|
| 4 | Revenue - Service Income ($M) | 1.57 | 2.03 | 2.15 | 2.4 | 2.61 | 2.56 | 3.25 | 3.98 |
|---|
| 5 | Growth Rate Qtly |
| 29.3% | 5.9% | 11.6% | 8.8% | -1.9% | 27.0% | 22.5% |
|---|
| 6 | Growth Rate PCP |
|
|
|
| 66% | 26% | 51% | 66% |
|---|
It is clear to me that, even without Speik, revenue and customer receipts are accelerating. On an annual basis, cash flow receipts (the most important issue for many previous commenters on Hot Copper) has accelerated from 70% in June 2020 to 113% in September 2020 and to 219% in December 2020. Likewise, Revenue has accelerated from 26% in June to 51% in September and to 66% in December 2020. Also note that cash flow customer receipts is now equal to revenue. This is a very good sign that DUB is being very successful in turning revenue to cash receipts.
So have faith, DUB is going well on an underlying basis. It should go even better if Speik can grab new contracts from banks etc in the UK. I expect the regulatory environment relating to working from home recordings should greatly assist Speik in this regard (see previous posts).
