Ann: Q2 FY24 Quarterly Operational Update, page-21

In their last half-yearly report on 20 February 2024, Mader announced:

"As Mader’s business continues to expand and mature, the Company considers it appropriate
to transition its reporting cycle from voluntary quarterly reporting to half-yearly reporting. This
change will allow a greater proportion of management time to be focussed on business
operations."

Therefore, the next update (unless there is an earlier reporting requirement relating to disclosure obligations) will be the annual report in August, which I understand to be on 20 August.

This change should in no way be interpreted as a decision to delay bad news, as some on here might think. Quite the contrary, no news means that guidance of >$50M will be met. The reason I say this is that Mader would be required to disclose to the market if guidance was not going to be met, and that it is now only 2 months until the end of FY. This will mean YOY growth of around 30% if they meet guidance, or higher if they exceed guidance. Based on Mader's record, I am highly confident that guidance will be exceeded. Also, forward FY24 P/E is now around 27. At the time of the FY23 annual report, FY23 P/E was around 38 when growth was around 38%. Admittedly, growth was a little higher in FY23, but not enough to explain the current much lower P/E.