Ann: Half Year Results Presentation, page-9

It won’t get there unless one of the instos on the register want out ie Perennial Value, Regal etc.

<$100m EV is cheap IMO given the business is generating positive free cashflow (~$8m in FY20 IIRC, and ~$2m 1H21 with macro headwinds and significant investment in anticipation of future growth), has just established itself in the large US market, and the transition is well underway from a project to subscription revenue based model.

Might need to be a little patient but AMX is certainly not overvalued and risk/return is still attractive here IMO.

100% upside achievable over next 18 months IMO.