Quarter ends and revenue (usage) per quarter since first full COVID affected quarter:
June 2020: $1.7m Sep 2020: $2.2m Dec 2020: $2.6m Mar 2021: $3.0m Jun 2021: $3.7m Sep 2021: $3.9m Dec 2021: $4.3m
Management provided positive outlook for 2H FY22, so I expect the QoQ increase in revenue to continue for the foreseeable future.
What about pre-COVID? well the highest ever quarter pre-COVID was just $2.2m reached in quarters ending Sep 2019 and Dec 2019. This quarter's revenue is a full 95% higher than the best ever quarter XF1 had pre-COVID. This means the structural growth trend over the past 8-9 years since IPO remains uninterrupted, apart from the pandemic years.
Meanwhile management has figured out how to leverage the "marketing engine" they created to acquire new clients very cheaply without putting on new marketing staff (LinkedIn shows XF1 put on just 3 extra staff over the past 6 months).
Without extra costs, all the extra revenue will end up showing somewhere....
XF1 Price at posting:
73.0¢ Sentiment: None Disclosure: Held
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