1. Revenues - yes has been increasing, but more than cash receipts (here there is a closer link), but we are long way from the ACV (below in USD)
2. TTM Cash receipts - actually fell this quarter, but perhaps some of that 3.4m last quarter was early collections
3. Gross margins - you can see below if I do a similar TTM on Net Operating Cash , things marginally improved in between 3Q21-3Q22, but the cash outflows are seemingly getting worse (incl when they had that 3.4m collection.....seems like their staff costs blew out that quarter so you have to wonder why it was not cashflow positive in 1Q23). This quarter, the 'Product Manufacturing' line went from ~200k to ~900k with their explanation being this was AWS hosting costs.....so again I have to wonder what their true margins are if the 1.9m cash receipt covered a decent amount of 3rd party costs
Look I'm still holding like many on the basis of something changing (3 yrs since my purchase), but the point is that it seems unacceptable to me that mgmt of a company with $3m in the bank are not paying attention to invoicing these multi-billion dollar clients who seemingly have critical services being provided. Either mgmt are lax (again unacceptable IMO if you need to pay your employee wages and/or expand your offering for other clients who are waiting for a rollout), or they are not being totally honest as to how much they can charge their clients and how much it actually costs them to provide this service
|
| ACV (USD) | Growth |
|
| Cash Receipts (AUD) | TTM (Cash receipts) | Growth | Net Operating cash | TTM (Net operating cash) |
|---|
| 1 | 31Oct19 | 1,660 |
|
| 1Q2020 | 306 |
|
| 44 |
|
|---|
| 2 | 31Jan20 | 1,900 | 240 |
| 2Q2020 | 185 |
|
| -787 |
|
|---|
| 3 | 30Apr20 | 2,160 | 260 |
| 3Q2020 | 532 |
|
| -297 |
|
|---|
| 4 | 30Jul20 | 2,870 | 710 |
| 4Q2020 | 820 | 1,843 |
| 220 | -820 |
|---|
| 5 | 30Sep20 | 4,930 | 2,060 |
| 1Q2021 | 609 | 2,146 | 303 | -333 | -1,197 |
|---|
| 6 | 31Jan21 | 6,880 | 1,950 |
| 2Q2021 | 635 | 2,596 | 450 | -231 | -641 |
|---|
| 7 | 30Apr21 | 7,890 | 1,010 |
| 3Q2021 | 1,374 | 3,438 | 842 | 211 | -133 |
|---|
| 8 | 31Jul21 | 9,800 | 1,910 |
| 4Q2021 | 1,453 | 4,071 | 633 | 98 | -255 |
|---|
| 9 | 29Oct21 | 11,700 | 1,900 |
| 1Q2022 | 983 | 4,445 | 374 | -931 | -853 |
|---|
| 10 | 31Jan22 | 14,400 | 2,700 |
| 2Q2022 | 2,849 | 6,659 | 2,214 | 800 | 178 |
|---|
| 11 | 29Apr22 | 16,300 | 1,900 |
| 3Q2022 | 2,360 | 7,645 | 986 | 64 | 31 |
|---|
| 12 | 29Jul22 | 18,200 | 1,900 |
| 4Q2022 | 1,661 | 7,853 | 208 | -1,387 | -1,454 |
|---|
| 13 | 29Oct22 | 20,130 | 1,930 |
| 1Q2023 | 3,411 | 10,281 | 2,428 | 213 | -310 |
|---|
| 14 | 31Jan23 | ?? | ? |
| 2Q2023 | 1,962 | 9,394 | -887 | -977 | -2,087 |
|---|
