It might also be useful to compare BCC with other listed companies that are building recurring subscription revenues, such as Life360 (ASX:360). The multiples on such businesses suggest a significant upside for BCC. For instance, Life360 has around 1 million paying subscribers and generates ~$120m in annualised recurring revenue. ZOLEO Inc. (the JV entity) only needs just over 300K subs on the lowest plan to generate a similar result. BCC has so far received orders for 115K ZOLEO devices. Naturally, not all units ordered go immediately to subscribers as some will be “channel fill” (sitting in retail shops of our global partners waiting to be sold). Nonetheless, we are only at the start of the journey and the traction ZOLEO is getting is very encouraging. As Michael Capocchi (CEO) has said before, ZOLEO has the potential to be a company maker for BCC.
BCC Price at posting:
38.5¢ Sentiment: Buy Disclosure: Held
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