Invested in Xref couple of months back on the basis they were fast approaching the inflection point of becoming cash flow positive. Listening to the webinar this morning, they have navigated their way through the COVID-19 period quite well, and all considered, they enter FY 2021 with bright prospects. They have indicated a target on QTRLY cash outflows of $2.7 m and this number needs to be watched.
Banking on the fact that, as world economies recover, hiring should in theory increase and this should present as a ‘material’ tailwind. Confident we can look forward to a maiden profit in FY2021, with the proviso that Mgt sustain their focus on cost containment. At that point, it gets really interesting.
Happy to hold.
Rokewa
XF1 Price at posting:
17.8¢ Sentiment: Buy Disclosure: Held
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