317% increase in costs is a horror story. The explanations are weak and it was across multiple balance sheet items not just one. Huge ramp in staff without corresponding increase in ARR/REV - even given the cloud business rev always lags. Then the millions in share incentive payments, are these going to be granted annually or a 1 off?
Are the hurdles sufficient? Given the report is claiming we are at $51M ARR at the half year then it looks like the hurdles might be easily met for the shares/options to be issued.
If the share payments were removed from costs then the half year costs would be circa $20M so I would have expected a claim that the Opex is significantly under $4M per month runrate not claiming $5M- this suggests the share payments are included in Opex? Does this suggest they will be annual grants?
Bought in last week expecting a really good qtrly report, breathing harder tody!
317% increase in costs is a horror story. The explanations are...
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