The recent Qtrly indicated several highlights, one of which...

The recent Qtrly indicated several highlights, one of which read...

' Program delays by some US Customers impacted Invoicing in Q2' They do repeat this in the narrative, where they extend the area impacted as being both ' Invoicing and Cash Collections'.

Hardly a 'highlight' but we can at least speculate on the likely impact, not only in understanding the direct impact on the Cash Receipts in the 4c, but also considering the fall-out for the business / other results in the 'near' term.

Herewith some observations ( & grey areas)

* ..' by some US customers' hints to plural versus singular. So spans a few customers.

* ...' Program delays by some US customers' implies this is a Customer problem versus a Pointerra problem

* ...' impacted Invoicing' ( and then extended to include 'and Collections' )

* In the context of the 4c, poor receipts of AUD 1.9m explained away, with a message of comfort that during the next two quarters, we will see the recovery via the future Cash Receipts. All good in other words.

* Problem is the timing of the Q2 4c (1 Oct to 31 Dec) coincides with the HY Financials ( 1 Jul to 31 Dec). Delayed or Late collections show up immediately in the 4c. If something is not invoiced it will not show under Sales Revenue or not even under the Receivables split of Revenue. Whilst Q1 FY23 was relatively strong, I think we will see a poor Revenue number for H1,this to be announced within the next two weeks.

So, just maybe the Company have delayed the ACV declaration in an attempt to soften the blow on a weak Revenue number for H1. All speculation of course, but could explain the sharp fall in the shareprice. A weak Sales Revenue in the Half year results will most likely lead to further weakness in the share price.

Even if the Company announced a USD 5 m increase in ACV, the disconnect with Actual Revenue extends further to the point of being somewhat meaningless. My two cents worth...

Rokewa