After having a bit of a look, the constant currency adjustment...

After having a bit of a look, the constant currency adjustment line seems strange. However, unless they give us currency on currency eval`s we won`t really know. My suspicion is that despite the naysayers that they have a bit of `happiness` on their FOREX book that may continue to go the same way as US rates increase. If I was them I would think - well - whatever we do now will not be appreciated so let`s push profits towards the next reporting period. Just my guess ...

However, no one out there can deny that a company that earns 90% of revenue offshore (mainly USD) in an obvious soon to be rate increasing environment will not benefit. They held their revenue++ amongst COVID which has actually really affected cpy`s as per my experience, so if things normalize, or even if not and COVID is normalized, this cpy will do well. their product is actually huge for practioneers ... have to know what/who you are dealing with ....