I agree that SMS offering is probably week (although the price is also cheap). I don't think they have a large number of schools (given it is estimated that MWR have c.90% of the market for SMS comms for schools).
Academy's is interesting because their main business is taking photos at schools (so they have contacts). Their attendance products seem to be based on swipe cards.
One thing is for sure - they are not preferred supplier to the WA government, and don't seem to be selling overseas.
There is no doubt that the MWR offering is very focused and delivering the runs on the ground.
I'm looking forward to the new product launch (which I assume is an extension of the existing system). This is one of the benefits of MWR... they have a large existing user base who will be able to take advantage of the new product straight away.
Financial results were actually quite good. Loss was lower than I expected. They have plenty of cash and working capital. So it all looks good. I would almost go as far as saying that I don't think additional equity raisings will be required. If one is required I think it will be small or for a specific larger expansion.
I'm looking forward to the September quarterly.
Disclosure: I hold plenty of MWR.
Cheers Marvin
MWR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
