Do you not think it's going to have quite low profitability?
Gross margins are very low, even when normalised (20-22%). Seems to be a lot of incremental cost in the Cost of Sales line (...humans?).
As Lefevre says, there's also the -$1.5m of annual capitalised software development costs to offset before we get any proper cash earnings.
Is this really a high scaling Tech company? Or is there a lot of manual work going on?
Would love management to talk more about how they see costs growing/moderating as it onboards the larger enterprise customers.
Do you not think it's going to have quite low...
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