Late release of quarterly update seemed to be a giveaway that this wasn't going to be glowing.
Couple of points:
- Suggesting Q1 is traditionally a soft quarter. From memory Q1 and Q2 were previously touted as strong quarters for Q&A?
- Subscriptions: just terrible. The relatively low EBITDA multiple paid for the Track business isn't so low now that the performance has dropped right off.
- Underlying EBITDA: So reported EBITDA of only $900k for the quarter, with $1.3m of add-backs to get to underlying result of $2.2m. One of the add-back items was 'management' costs. Aren't these costs already ordinarily incurred by the busiess, hardly an add-back?
Price appreciation could now be dampened for another 3 months pending more positive Q2 results
CM8 Price at posting:
14.5¢ Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)