It's a little more indepth than that. Revenue doesn't equal profit and MC doesn't equal either.
Fact is though, these guys are on track to exceed their MC with this years revenue......and they have significant upside from there - by this i mean these guys are expanding their market and introducing a few new technologies to a market that I believe will adopt them in force. Think about when self checkouts first came in, there weren't many and people were worried that the tech wouldn't work and end up in theft......now most supermarkets have the majority of sales through self serve!
What Mike is saying is these guys are well undervalued based purely on this years revenue....what the actual value is no one knows.....but I'm pretty sure in 12 months time my holdings here will push me into an early retirement.
Ann: SBW record revenue of US$10.5 million (unaudited) in 1H FY21, page-8
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