Ann: Q1 FY23 business update, page-27

Hi Mallcop,

If you look at the announcements put out by the company re operating expenses (below GP), it's been cut pretty substantially. Cash burn in the half yearly went from in the business strategy had been cut 24%, and in the H2FY22 cash burn had been cut 30%. I'd be taking the H2FY22 number for total operating expenditure and reducing it by 5-10% at this stage...

It's been good to see cash burn reduce, while the business is growing well at the top line for payments, and is recovering pretty well in lending. QFE had it's biggest US lending quarter ever in the last announcement which is pleasing.

Finally, the company had noted in the FY22 results that there is revenue that, due to the revenue recognition standards use by the company, wont be recognised until H1FY23. The December financials will likely show 30%+ growth for the whole business and also likely a 30% reduction in operating expenses vs H1FY22. If these results are delivered to the market, I'd anticipate we begin to build some real price momentum over calendar 2023.

If you own this under 10c, lets be real... you're rubbing your hands together