Ann: Reaffirming Record FY23 Guidance, page-8

What a hilarious and depressing update.
After 3 years, they finally decide to disclose some metrics on the JV performance.
I can only assume that Michael is falling short on some KPI's (stock price maybe?) and trying to push it higher.
Let's assume that of the $17m in subscription revenue, we make a 40% GP margin after Iridium are paid.
That leaves about $6.8m, with our limited cut from other markets and high cut from Australia, we make about 11%.
Which gets us to our revenue run rate of around $745k in subscription revenue.
Michael had mentioned it was $730k in recent video, so I figure that is roughly around the mark.
So Roadpost make over $6m in subscription revenue, while we make less than $1m.
Seems fair given Roadpost contribute $0 to the R&D for the product development.
Great product ZOLEO, horrible JV.