Ann: FY22 Q1 Results - Investor Presentation, page-19

Not a fantastic report and not a bad one either. Clearly some progress being made from the Strategic Review and I do like the spend on R&D.

A bit disappointed that they did not provide a breakdown of licences again (mobile/reach vs desktop vs bundled). Also would have assumed that a 19.9% stake in Brainpac (regardless of how small the dollar figure is) would be noteworthy enough to disclose to market at the time with an explanation as opposed to just including in the 4C.

Looks like SP will hover around these levels for another couple of months. Definitely not the time to be bailing out and selling however I will continue looking to top-up when possible as it is still at a ridiculously undervalued price despite the slowed growth figures.