Yes, it is a bit confusing!! I am used to companies stating both...

Yes, it is a bit confusing!!

I am used to companies stating both EBITDA (the $ result excluding items like interest & tax & depreciation) & NPAT (nett profit after tax).

But MME are reporting a "Cash NPAT"?

The presentation states:

"FY21 cash NPAT adjustments from statutory NPAT reflect adjustments to remove nonrecurring expenses and an adjustment to use actual losses rather than the AASB 9 based impairment expense which supports an alignment to revenue recognition over time".

I get the benefits of removing the nonrecurring expenses - but I will leave the rest of this statement to an accountant

The major difference in the 20/21 full year financials (versus 19/20) was the approximately extra $13m in "impairment expenses" - hence MME reported a $7.929m statutory loss in 20/21 (see figures below):

2021 2020
$’000 $’000

Interest income 52,961 43,129
Other income 4,613 4,542

Total revenue 57,574 47,671

less
Interest expense (10,595) (12,751)
Sales and marketing expense (9,528) (5,049)
Product design and development expense (3,645) (2,710)
General and administrative expense (13,398) (10,322)
Impairment expense (28,751) (15,973)
Depreciation and amortisation expense (1,689) (985)

Total operating expenses (67,606) (47,790)

Profit / (loss) before tax (10,032) (119)
Income tax benefit 2,103 1,418
Net profit / (loss) after tax (7,929) 1,299

Basic profit / (loss) per share (4.7) 1.0
Diluted profit / (loss) per share (4.7) 1.0
The Financial Statements are to be read in conjunction with the Notes to the Financial Statements.