LIFX revenue was $8.2m (71% growth) in the March quarter. Lifx revenue was $6.5m in the June quarter. I do not think the growth rate for the June qtr was mentioned, therefore it is probably below their 'target of 70-100% year-on-year growth in LIFX revenues in CY19'.
In my opinion, if Lifx’s revenue growth is below 70% it will be difficult for them to make enough in profits to pay the interest on their loans.
They should have raised more capital when they acquired Lifx. In my opinion whoever made the decision to only raise $18.1m should be shown the door. They probably needed to raise double that amount.
BUD Price at posting:
3.3¢ Sentiment: None Disclosure: Held
