Ann: Quarterly Update and Appendix 4C - December 2023, page-13

Growth rate certainly slowing down in an industry growing exponentially every day.
Google searches for 'esim' worldwide now surpassing every day that day when Apple announced esims in their latest iPhone (the big spike in September 2022)
If this was an index, Flexiroam's revenue would be underperforming the index.



Cash on hand down another $290,000 vs September quarter. However as explained by Marc in the previous webinar this is often due to lumpy pay cycles (such as Mastercard).
In fairness this is the best cash on hand change since March 2021. Nice!



The strategy chosen by Marc and his team to grow organically while approaching cashflow breakeven may not be the one everyone wanted, but it does look like its working and at least we haven't been diluted into oblivion along the way.

It's been a slow grind and I can understand the unhappiness from shareholders. This quarter was make or break for me, but once again Marc said something in the quarterly webinar and it came true in the following report. So far he hasn't told a lie as far as I can tell. |
His earliest predictions of cashflow breakeven were way off however.

To say this goes into the bottom drawer is a bit of a low-blow to the decent results put out.
I'll say instead 'I wait patiently for the next quarter'.