A very good quarterly update indeed. The best thing coming out from this 4C is to see the company hitting operating cashflow breakeven, despite higher adv & marketing costs and staff costs. I followed PLY & Gerry's LinkedIn accounts and they have been hiring a lot recently, which explains the increase in staff costs. PLY has been investing a lot in IPs, so definitely need to keep an eye on this, though OIP revenue has been growing at 20%-ish rate for the last 2 quarters so it is not concerning atm.
Revenue growth is exceptional. Worth to note that Q2FY22 revenue is basically half of full FY21 revenue.
So if we add 1Q and 2Q revenue, we'll get $9.4m for the first half. Assume no revenue growth, annualised revenue =$18.8m. Safe to say PLY is still the largest ASX listed gaming stock in terms of revenue, and potentially maarket cap too.
A very good quarterly update indeed. The best thing coming out...
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