Slow but steady progress. You cant really as for much more....

Slow but steady progress. You cant really as for much more. Anything that goes up fast also comes down fast (as we have seen with CRO in the past)


Spenda really has demonstrated significant financial improvements over the last couple of years, with record revenue growth, increasing payment volumes and a clear path towards profitability. If we see this trend continue, I reckon the company is likely to achieve financial sustainability and potential EBITDA positivity in the not to distant future.



The company has a stronger revenue and a better market position than 2 years ago and is successfully transitioning towards much higher cash flows and less reliance on financing. Moving from a cash burn to a cash earn model is on the horizon and I think this is a great thing especially for those longer term holders who have been burnt in the past and are probably down 80% on this investment (thank you for keeping the faith).

The only risk factors I see (and I am sure there are more that others may point out) is the slow onboarding of new customers. I am sure this will speed up as they get used to doing this and it becomes muscle memory. The other risk is the increased operating cost but this is due to expansion and revenue growth has kept pace.

Slow and steady wins the race. And maybe AF was not full of shit.