If I think back, the Delta between declared ACV and reported Revenue was where it all started. Then the narrative in Reporting was overstated versus the reality, 4c after 4c, Half year after Half year, Full year after Full year. What we consider now as the good years, was in reality very ordinary. The Company never got to Report an Annual Revenue of greater than AUD10m. The last reported ACV number (declared in US$) translated into about AUD31m. Pointerra have to wear the fact they allowed this situation to become prolonged without explanation or resolve.
Then, negative commentary abounded on valuation grounds and a lack of trust in the reported narrative further fuelled the drop in sentiment. By the time we got to the Utilities pause, nobody seemed to consider the fact that this was through no fault of Pointerra, seen just as an extension of the prior underperformance. I bumped into a few youngsters at a family BBQ earlier this year. They were talking investments and I mentioned Pointerra. The response was "oh, thats the Company with 5000 contacts and less than 50 paying customers". Cocky little sh#t !
There are a couple of us left here that still have confidence in Pointerra's future. There are lots of signals that we have turned a corner. I think it was the Coffee MicroCaps webinar where Ian acknowledged that they had been guilty of over promising and failing to deliver. This implies we can look to some out performance going forward.
And one last point , a highly respected investor once said that Pointerra could become the next Pro Medxxx. High Gross Margin, Highly scalable disruptive technologyutes, masive Global TAM and a modest Cost and Expense base. Never happen but all those attributes are still there.
I owe Writer a response but have something which is worth a look for context. Try post in the morning.
Add to My Watchlist
What is My Watchlist?
