(1) Why is it that *every* quarter they say "cash receipts are...

(1) Why is it that *every* quarter they say "cash receipts are down due to [excuse] but honest revenue is really up"?

Here's what they said for the September quarter:

> Cash collected for the June quarter was $9.0m, down 12% on Q4 FY23. This reflects timing ofthe receipts of certain annually billed contracts which are seasonally higher in Q2 and Q4each year, and a release of previously deferred revenue against service delivery in thequarter. Q2 FY24 cash receipts are expected to be above the $10.2m recorded in Q4 FY23.

Here's what they say this quarter:

> Cash collected for the June quarter was $8.8m, down 3% on Q1 FY24. This reflects the timingof customer receipts that were due to be received in December 23 but were received inearly January 24.

(Incidentally there seems to be some pretty sloppy copy-and-paste there, since every quarter seems to be the "June quarter".)


(2) Reduced cash burn is good -- but given the magnitude of the layoffs you'd expect that. I'm not sure you'd be so rosy about any other business with declining cash receipts and continued cash burn of $4m. Would you?

(3) Speaking of layoffs, a little birdie tells me that they laid off another 50 people this quarter. But they didn't seem to think that was worth mentioning?