If you read the financial statement carefully if it wasn't for the IPO AMX was going to post a profit.
Also good strong start in FY21, I am happy with the outlook as well as their huge cash balance.
Next year they won't have 500k IPO cost, that's a one off. So add that to the figure and you get at least 250k profit.
Nearmap burnt 30M in 1 year, and has 100M Rev and never posted a profit so far. AMX 20M Revenue but only 200k net loss. with 20M cash. They can use this to overinvest to further grow their business.
What I am seeing is that customers actually have switched from NEA to AMX, so they are gaining the AU market share while NEA may lose the portion as they are focused on NA.
Both companies are long term hold for me.
Ann: Trading Update & FY20 Guidance, page-19
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