GPTV has increased from $600m to $880m in the space of a month! With talk of a possible further $250m of JCB Tier 1 GPTV coming on over the next 6 months.
This could snowball pretty quickly. $1bn GPTV will be an impressive milestone that I suspect isn't too far away. Remember there is about $30bn in market being given up by NAB!
Another tech issue that has appeared to have slowed up rev but also has been pretty quickly resolved and rev is now being ramped up to full capacity. There may be a dint to some rev this quarter but only a short term issue.
As mentioned above the new big contract will come online next quarter so it should give a big kick to rev in Dec quarter.
Would like to hear soon that they have secured alternate supply in Aus from NAB and the bps margin negotiated.
Also Tier 1 in Europe for Visa/MasterCard is now not expected till December. I suspect this recent Apple issue has required resources to be diverted and resolve ASAP. All good.
I think we see continued strong revenue growth and some small margin improvement the rest of this calander year and then both strong revenue and strong margin growth next year. With that cashlow positive and in turn wider market awareness.
This NAB exit could score a number of similar contracts to the one announced today. Could be huge.
ISX Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
