Expectations for Q3

As a few have mentioned, Q3 announcement is soon upon us.
Plenty of expectation for big improvements for the remainder of FY24 re: operating revenue. Here's a really basic snapshot of the last few quarters.

Q1 FY23 = $42.8m cash. $0 customer revenue.
Q2 FY23 = $45.7m cash. $739k customer revenue. (increase in cash due to MRFF milestone payment)
Q3 FY23 = $36.8m cash. $1.23m customer revenue.
Q4 FY23 = $69.6m cash. $232k customer revenue. (increase in cash due to Q3 $45m CR finalised)

Q1 FY24 = $59.9m cash. $188k customer revenue.
Q2 FY24 = $47.8m cash. $210k customer revenue.
Q3 FY24 =

If another flat quarter is announced, the commercial strategy will look poor. According to the Annual report, 4D spend about $2m on sales and marketing costs alone (I wonder what on?) so you have to query that and what value the BDMs and Commercial team are bringing. Hopefully as more clinical papers (Image 1) are published, they can offset/reduce that spend with actual conversions.

Looking back to Q3 2023, does anyone know what came in to give it such a bump? One could assume whatever it was may be due to come in again for Q3 FY24?

If we do see a big bump this quarter to match same in FY23, will the presumed investor confidence precede another cap raise? By that stage and based on the operating spend between $9m - $11m per quarter, 4D are back below 4 quarters of funding available which is the threshold they hit for last years CR.

Image 2 & 3 included from the Annual Report as a reminder of what this FY should be bringing. "Generate revenue from operational expansion" does not yet seem close to being reached based on the $188k and $210k thus far (both less than Q4 FY23).

Do we expect huge news for the remainder of FY24? This Q3 announcement will set the tone.


Image 1:


Image 2:


Image 3: