Imagine seeing these statements in a 3DP 4C: - "Delays in some customer receivables collections" - "The large US customer program delays that were experienced during FY23 andFY24 are now resolving with further improvement expected during FY25 and beyond"
Seems like a copy/paste job for the last 2-3 years
Looking at the 4Cs FY22 FY23 FY24 Receipts 7.9m 9.4m 6.8m AWS costs 1.2m 1.8m 2.1m Receipts less AWS fees 6.7m 7.6m 4.6m
That last line is the actual services revenue that 3DP would be earning given the AWS is just a passthrough (i.e. they should be passing 100% of that to clients based on AWS invoicing)
That shows how poorly they are doing and why they had to raise 5.3m this year.........nothing in all the presentations that Olsen puts out changes until he actually start delivering on cashflow......he claims some improvement in 4Q, but remember that 1.4m of the receipt was a result of not having collected in time last quarter (so more than half the current quarter receipts!!!).
3DP Price at posting:
6.6¢ Sentiment: Hold Disclosure: Held
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