Growth rate really not justifying the multiple here unfortunately. If you accept that the multiples of ASX listed peers like PME and NAN are justified, and that the scarcity of quality ASX health tech companies justifies premium multiples then it kind of makes it worth $1+. I think the market has it fairly valued here unfortunately.
Based on the above I think successful first trade shows and resulting newsflow might give an opportunity to re-rate otherwise I see us stuck here.
Was there any explanation given on the call as to why cash flow tipped negative in the last quarter? I suspected it was tough going based on the limited news hiring of senior sales staff.
Thanks in advance.
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