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.
BCC Price at posting:
18.0¢ Sentiment: Buy Disclosure: Held
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