I'll be the first to comment, surprised there's not more excitement on this one. The agreement with IBM is huge validation of the platform but also importantly should push the revenue scale to the profitable side of the balance. Last quarter they still had slight cash burn but even an incremental improvement will see them turn a profit.
53m shares on issue, 73% held by the top 20 (mainly funds and founders) leaving just 14 million shares outside of the T20 so not really expecting to see any volume here but a very material announcement.
They haven't given numbers however a 30% increase in head count implies at least a 30% increase in workload. I would assume that this also means they expect to see at least a 30% increase in revenue. Last Q revenue was $7.8m which implies an annual revenue figure of $31m. A 30% increase on this would be ~$9m, IMO that's about where the deal sits but time will tell
STG Price at posting:
$1.36 Sentiment: Buy Disclosure: Held
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