Agree it’s disappointing to further dilute and drop the sp with a raise right now.
it suggests they dont have any other good news up their sleeve to pump up the sp Pre CR, so AoM is the only vertical growing revenue strongly right now.
I have observed that the focus with AoM has been on new customer wins, but the size of those contracts seem relatively small so the impact on revenue is modest. More importantly, there is no detail on the cost increases with these AoM wins, ie what are the ebitda margins / cashflow operating margins and are the margins expanding with these wins or not?
these details are critical to predicting present and future cashflows, especially given the anaemic growth in USS and core AD1 govt contrqct verticals.
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AD1 is nearing cashflow positivity and thus the frequency and size of CRS should be minimal. Hopefully they avoid any M&A that would further dilute shareholders and distract them from executing on current veticals.
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