All good, I was just curious if you had some interesting input
So from my thoughts, RE the half yearly financial results I absolutely understand why some would be selling, a glance at the reports and I also considered selling but after taking a few days to think it over I decided to actually purchase more. The numbers were very bad specifically the Non-Recurring Project Income by -90% that was the massive impact on revenue.
The company has stated underneath
"New projects resumed late in CY20 and have come on-stream in February including IBM (see previous announcement). Project revenue has returned to pre-COVID levels in Q3 FY21"
However all this aside, we actually want to see the Recurring Revenue increase, which it has.
Recurring revenue is far more important for a company like this in my opinion.
Things we do know is they raised $9.2M recently with a plan to use it to expand globally,
"With capital now available from the highly successful IPO, the company has activated its plan to roll-out new SD-WAN PoPs and OneCloud nodes globally."
and
"Additional sales resources have been added to the team in Perth with more team members to come on-stream on the East Coast of Australia during the coming months."
Now to wrap it up, I think the industry is very important and underrated.
With the industry experiencing high growth itself I see NNG is very cheap at a MC of $15m
I am going to hold at least until we have more financial results to work with, quarterly due next month but I am happy to wait until the full year results are out.
Good luck with your holdings
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