I have been sitting on this one for a while and participated in the last raise. It has been a challenge.
I think a couple of things from this announcement has added to the corner turn for the business:
- Traction across sales verticals. Market acceptance and commercialisation is critical which they are demonstrating. Pipeline is very promising. - GVC Australia signing up, a Tier 1 betting company, along with current client Aristocrat shows the big boys see value in their offering. - Citadel takeover bid puts the bets Mark McConnell makes into the spotlight. He has bet big in the AV1 startup phase here. - $9 million in cash secures a strong balance sheet to execute on top line growth. This needs to be aggressive with the capital they have raised.
If they can close more meaningful contracts with quality customers, market should reward the traction.
AV1 Price at posting:
15.0¢ Sentiment: Buy Disclosure: Held
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