In the first 9 months, sales averaged $50K per month in wearables ($450K total)
In the last 2 months, they have achieved another $81.5K per month in wearables, up 60% ($613K in total)
2,500 sold generating revenue of $613K, which equates to average revenue of $245 per watch.
23.3K watches they have ordered. Should they achieve an average of $245 per watch, this would be $5.7M
Cost of sales appears to be only 11% although after schools are backed out, I am sure this would be a higher %. In any case, the margins appear quite healthy. The margins may come in a bit as wholesale sales will take on a larger % of sales and the average $ sales price will be lower. Obviously JB Hifi will take some of the margin pie. The benefit obviously for MGM would be substantially higher sales numbers and profit.
Overall sales growth will be substantial this FY and this does not really factor in new revenue streams both domestically and abroad. Mkt cap is still tiny.
Great company and love the potential
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