Bear case still hasn't been well covered. AD are a global supermarket giant, they want to cover all bases. It's not a binary decision. The core of their sales will still be in-store. No question about what is more profitable - it is in-store. Plexure have a clear proposition and AD initiated the trial with superindo, so I doubt they'd ignore the stunning numbers.
Valuation is low compared to other tech companies with similar growth trajectory. Yes revenue growth in FY21 hasn't been stellar but there's good reason for that.
As Craig said, in order for them to work with global companies, probably AD said they need more account managers ect on the ground. They've raised the money and are addressing this. They only had the resources to work with mcd's on the sales side. They had such good growth - look at the last three years with Mcd's that they needed to consolidate with them. And they still managed to get the ball rolling with AD through super indo. Give them another year to bring on customers.
Don't worry about the losses. Why should they focus on profitability? Business isn't that simple.
