At first glance this looks like a solid quarterly update. Very...

At first glance this looks like a solid quarterly update. Very impressed.
Decision to acquire NZ business in October 2021 is truly paying off now. Great forsight from management back in 2021 when NZ was in lockdown.
Lets hope the PaulCamper acquisition happens moves in a similar way, however I suspect much of the gains with PaulCamper will be through the increase in the takerate over time towards the 25-30% (from the current 18-19%).

Initially impressed with cashflows. Looks good.
Comparing this time last year over the 6 months to 31 Dec.
To 31 Dec 2021 had Net Operating Cashflow of - $858k and this was after receiving $546k in Govt grants/tax incentives (or - $1.404m when excluding these grants).
For the 6 months to 31 Dec 2022 Net Operating Cashflow was + $438k but this included one-off transaction/due diligence costs of $1.884m.
So normalised Net Operating Cashflow for the 6 mths to 31 Dec 2022 of $2.322m versus - $1.404m 12 months ago for same 6 months.

Moving well and truly in the right direction.