Veecat, taking into account the following, I have good reason to think that revenue growth should be 30%+ for FY20:
- Revenue and ARR grew at 24% in FY19
- Vector was only soft released in May 2019, and therefore will really only contribute to FY20
- Cash balance grew by$15M from $11.9M to $26.9M over only 3 months from June to September 2019
- The Board has guided for "strong" revenue growth and a reduction in operating expense growth
- Recent presentations mention "momentum"
I therefore think that last year's 24% will be easily exceeded. A 30% increase would translate to an increment in revenue of $28M. Given the announced likely reduction in relative operating costs, I would expect this increment to translate into something like a $9M increase in EBITDA (based on the ratio last FY). This would see EBITDA increase from $4.1M to around $13M.
I think the market should respond very well to this.
CAT Media, page-27
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