Australian finTech at the gates, page-75

An old article that I'm not sure still applies since SMA's attempt to reinvent itself (revenue is now markedly lower), but some good background on the company's strong in-country relationships.

They also focus on the significant of old Chairman Geoff Raby's former position as Australian ambassador to China, but I find new Chairman Mark Vaile's former positions of Deputy PM and Trade Minister to be far more impressive, and one of the few reasons I'm still hanging in there.

This section was of most interest to me - I can't recall having read anything about their margins, but they're a lot higher than I had thought:

"The first is acting simply as a merchant and billing provider where they receive between 3% and 15% of sales from the brand they’re working with. They also offer a full service, with billing, marketing and more for brands where they can take up to a 45% cut."

Not overly excited for this quarterly - or this stock in general, if I'm being honest - but I do find it strange that SMA haven't released a market update for a month. They usually release 2-3 updates a month (not including ASX-required announcements), but now that I'm looking at it, it seems to be 0-1 updates in the reporting months. They must be saving up the good news (or spin) for next Monday.