Yea same ballpark - $12.5m Q4 rev, c. $42m to $43m FY21 rev....

Yea same ballpark - $12.5m Q4 rev, c. $42m to $43m FY21 rev. Would be a wonderful result, 18% QoQ growth since Q4 FY20, and even outside of the 'COVID effect', 14% QoQ growth in Q3 and Q4 FY21.

But I'm more interested in EBIT and profit - particularly margin improvement through scale. Hoping for close to $1m NPBT this Q, for over $2.5m NPBT this FY. We probably won't get an update on this until late July, early August. HT8 has plenty of tax credits to mitigate tax this year and I hope they use this wisely to smooth the tax offset effect over coming periods.

With above results, FCF NPV model easily justifies $90m MC, 30c + SP. Even at more modest 6% QoQ growth in future. At that level, MC would still be well below the average PE and PS of its peers.

Not surprised Garrison is buying.