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This is looking really good. Total operating expenses have reduced while growing revenue by over 40%. It looks like 2H20 revenues will be around double the pcp as October is already up around 80% over last October. The key long term is to get larger clients like Kayser Permeate and get better reimbursement terms but if they can execute this properly, things are looking good.
Having said the above, full year revenue is likely to come in around $10m and even at current prices the stock is changing hands at around 50 times this years revenue. If the growth can continue into next year (say 40% rise on this years revenue) then we are trading around 37 times FY22 revenue - not cheap by any measure. Its hard valuing the company. Long term, if they can achieve just 8% market share in the US, we are looking at $100m USD revenue. Applying a relatively tame market cap/revenue figure to this of 10x we get a market cap of $1bn US ~1$1.4bn NZD... question is how long before it gets there (if it gets there at all). Some broker reports will be useful.
