I am not so sure wombat.
They have blown circa $65 million on their CY2022 sales pipeline as per the July Investor Presentation. Please explain DRO.
Whilst cashflow is indeed better - they are still struggling on the sales front, barely acheiving $500k per month in general non-disclosed revenue.
And expenses are rising.
I am still very positive on the future of DRO - however, management needs to seriously look at the way it sets and achieves targets and why it is failing to convert the sales pipeline to revenue.
SK.
DRO Analysis As at: 13/10/2022 1 2 CY 2022 3 30/6/2022 Half year customer revenue $5,223,000 Including payments in advance 4 Less receipts relating to 2021 -$200,000 5 30/9/2022 3rd QTR customer revenue $3,626,000 6 30/9/2022 3rd QTR Grants & Incentives (non-customer) $2,016,000 7 1/9/2022 Record European Order $500,000 Assume 75% received 3rd QTR 8 4/10/2022 US Department of Defence $1,800,000 Expected receipt prior to 31 December 20229 $12,965,000 10 Adjustments 11 31/12/2022 Australian Department of Defence $300,000 $3.8M contract to be completed mid-2023 12 Assuming $1.8 still payable between Jan 2022 & Jun 202313 31/10/2022 Defence Innovation Hub $133,500 $800k spread over 12 months 14 Take-up approximate allocation to 3rd QTR 2022 15 31/12/2022 Take-up non-disclosed revenue at $500k per month $1,500,000 3 month general revenue 16 Total adjustments $1,933,500 17 18 Total revenue forecast 2022 $14,898,500 19 Change since last forecast -1.92% Slight revenue decrease 20 21 CY 2021 22 Full year sales and other revenue $10,812,000 23 24 Rev growth 202237.80% 25 26 27 Expenses CY 2022 expenses (1/1/2022-30/9/2022) $13,055,787 $17,407,716 Expenses 1/1/2022-30/9/2022 (/3*4) 28 Subtract increase in inventory levels @ 50% -$500,000 $1,000,000 increase in inventory at sales value29 $16,907,716 30 Change since last forecast 12.02% Expenses increasing 31 32 Forecast 2022 profit (loss) $ (2,009,216) 33 34 Break Even? Revenue / Expenses 85.59% Probably no break even CY2022 35 36 Comparison 2021 Loss $ (5,310,447) 37 62.16% Improvement 38 39 Investor 13/10/2022 40 Presentation $50 million sale pipeline for remainder CY2022 41 $180 million for CY2023 42 I am only forescasting $1.5 million of this to be realised 43 44 However: 45 46 From July investor presentation - 47 $125 million in sales pipeline for FY2022 48 & $230 million for FY2023 49 50 What happened to circa $65 million CY2022?????? 51 What happened to circa $50 million CY2023??????
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