Based on the initial market response (SP back to $1), this stock and the strength of their financials clearly remains misunderstood by the market. Writing $42 m of new contracts in a single year says that the trajectories since introducing the subscription model are very much in tact. Perpetual licence business still contributing ($6.9m) + a recurring maintenance component ($1.5m).
Expect FY results will show continued cost containment and with the portion of subscription Rev applicable FY2020, expect a very respectable profit for the year. My price target of $1.56 stands.
We then enter FY2021, with 3 years of Subscription Revenue banked. What a platform !!
Rokewa
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1 | 4084 | 2.960 |
2 | 22600 | 2.900 |
2 | 20297 | 2.880 |
1 | 800 | 2.870 |
Price($) | Vol. | No. |
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2.980 | 12347 | 1 |
3.000 | 4880 | 1 |
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