they get 70% of the profit direct for distribution, and 30% goes to the joint venture which they hold a 50/50 share in.
so the 85% total is correct on aggregate but also doesn’t factor in the 50% value of the joint venture company itself which could be sold or listed as a seperate entity in the future
that also doesn’t sound much % wise but they will have shipped 70k units by the end of 2021. Assuming by end of 2022 they have in North America 100k units on fully utilised plans at the stated $45 ARPU p/m from their recent update that’s $8.1m plan ARR to BCC of the total $54m ARR plan revenue
as the % work the other way they only need to hit 15,000k Aust and NZ units for the same gross ARR which is their very conservative target for By June 23 (FY 23) in two years time
most likely based on US progress the two will coincide or even the US being ahead so in total across both by two years time should be at least $16m+ ARR plan revenue to BCC on top of current $18m revenue.
BCC Price at posting:
25.5¢ Sentiment: Buy Disclosure: Held
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