I didn't notice anything new. But some metrics varied between...

I didn't notice anything new. But some metrics varied between the 2 reports like receipts vs revenue. Some statements were identical, like ebooks retention.


Nice trends anyway. I was not seeing a full profitable rolling 12 months yet, but finally some organic growth in revenue with some cost control to boot - maybe enough to get us to profit (not a half period profit due to seasonality, but a full year).


Eg. this one:


But it's a half year.


Revenue growth, fall in operating expenses. The acquisition strategy may be finally paying off (after it slowed down, and synergies were allowed to be locked in - cross selling, adding more courses, removing duplicate staff, shared marketing).


When the acquisitions were happening at full speed, staff expenses were always rising quickly, and there was no obviously significant jump in revenue due to synergies (we were stuck with negative 20% cashflow margin for ages).


Statutory profit of $420k doesn't put us on a cheap PE yet (maybe PE 10-12), but there's some leverage left to take advantage of - the cross selling, growing courses and so on - more organic revenue growth without much expenses growth will help the numbers a lot.