To me probably an OK result, not great but definitely not bad, I have accumulated at 27.5 and below and still happy with that. Will be interesting to see what the market thinks may be a down day and opportunity to pick up more, but I will only do that in the low 20s now. 1H22 to 2H22 2.2M growth 2H22 to 1H23 1.5M growth
EBIT also went backwards on a % basis H/H
HOWEVER -- this does ignore seasonality and my experience in these businesses 2H is always better than first so may be being harsh. Also the concept of operating EBIT excluding Incremental public company costs is a little weird but it is immaterial, but that in reality is just an operating expense. It looks like this was a bit of a made up line to make 2H22 and 1H23 not be flat on EBIT (which basically says that for the 1.5M of revenue added they did at zero margin).
I still have faith but was hoping for a A+ and I feel like a solid B, especially given the hard work and distractions around an IPO. Do your own research just my 2 cents..
SOC Price at posting:
27.0¢ Sentiment: Hold Disclosure: Held
