Concept stock orphan, page-86

I struggle to understand the long-term future for OMN.

They've jumped out of the gate with $195m to play with and like many SaaS companies, OMN are on a path of building IP and their own tech, albeit at a sharp burn rate (now with $165m).

But they're in a market already established with other players, like Skyfii (ASX:SKF) who have the pedigree of customers within the Retail Property sector and work internationally. In this market they appear to be the only success, having this week announced that they made a maiden EBITDA profit for FY18.

Reality is, when these large enterprise clients embed themselves with providers, it is very difficult to unshackle and often takes catastrophic failure. So without serious growth in market demand, what is OMN's opportunity?

I just can't help but see the new kid on the block, with juvenile tech, wearing a shirt that says Westfield, whilst trying to get work with all of its competitors.

Maybe OMN's best hopes are acquisitions to consolidate the market.