Cash at bank >$20M, so EV only $30M... Starting to shape up as a good LT entry point IMO.
But I still have concerns about growth, the recent FY showed the ARR was on parity, but only because of FX changes, so still significant contraction in ARR.
But.... as evidenced by the increase in cash from $12M (Jun 22) to $18M (Jun 23) to $21M (Dec 23) - expense control has been tight and currently printing $6M pa in FCF.... So MC/FCF only 8X and EV/FCF only 5....
I also don't mind the forecast reduction in R&D spend, last 3yrs says the R&D just hasn't stuck and the growth has come from Asia Pacific. Possibly growth linked to developing geography rather then cutting edge R&D.... My opinion only and no facts to back this.
I think there are green shoots, and could be a wonderful turnaround.
Cash at bank >$20M, so EV only $30M... Starting to shape up as a...
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61.0¢ |
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Mkt cap ! $106.4M | |||
| Open | High | Low | Value | Volume |
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|---|---|---|
| 61.5¢ | 4814 | 3 |
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