I believe that's the run-rate for the Australian business only,...

I believe that's the run-rate for the Australian business only, on the basis of the following excerpt;


Keep in mind, this was from the release of Preliminary annual report. At the time of release the terminal numbers were at 6700.

Terminal numbers have since climbed to 7,306. The 'expected level' of revenue we can conclude is $2.5m p/m on a run rate for the acquiring business. (Given that $2.32*1.08 = $2.51m).





If we annualise this number, we get to $30m from the Australian business. (Assuming no new terminals contributing to growth in the run rate).

Then add in the NZ business's result of $14m to be conservative.

We reach $44m in top line (As compared to $32.5m in 2021).

If we believe that the Australian acquiring revenues can grow to $3m per month then end up at a annualised revenue of much closer to $50m.



Patience is a virtue with this stock. Once the underlying performance drips through to the bottom line, shareholders will finally be able to bask in the sun.