Margins improved from -20% some time back, to -2% now for the...

Margins improved from -20% some time back, to -2% now for the rolling 12 months.

Meaning, $240k cash burn for the 12 months, from $12.2m receipts. 12 months back it was $2.07m cash burn, from $9.5m receipts. Strong improvement.




1 more strong quarter would push us over the line (and my metric is sort of backward looking, not focusing on recently quarter, but being a full 12 months, but with such seasonality, the rolling period is useful). The following quote I think means that it'll happen. It suggests some likely 'organic' growth, which is what is needed, not just acquired growth. Synergies + Organic Growth should push us to cashflow positive, plus control of staff costs in particular, which is happening.




This one shows staff costs being better under control:



Finally I can feel optimistic after several years of -20% margins, while the acquisitions were happening and being integrated.