Cashflows for the quarter were about as projected. Last quarter they projected;
So with the government grant they were basically as projected, staff costs close to bang on, credit for that.
First production run upgraded from 3000 to 8000 units. In $ terms that's;
8000 * $50 * 12 months = $4.8mil ARR
As I understand that's the leasing cost of the units at 85% estimated margin, I believe they also take a clip for the Conneqt cloud portal.
I suspect there'll be funding required for the production, but given there's over 20,000 people on the waitlist (imagine min 5 units each) getting funding with sales ready to go shouldn't be a problem.
Still just numbers / projections, but the years of development is starting to get real, if it comes to fruition <$20mil MC will be laughable.
https://hotcopper.com.au/threads/ann-cdx-january-2024-webinar-presentation.7806625/
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