Based off Fy19 growth rates, guidance for elite could be in the...

• Based off Fy19 growth rates, guidance for elite could be in the $105m-$108m range.
• Add in Prosumer/AMS/Data/Other and potential for around $120m full year revenue, or around 26% YoY growth.
• Assuming EBITDA contribution of additional revenue around 34%, EBITDA could come in around $13-14m.
• Would show a (2-3m) net loss still given D&A could come in around 16m.
• FCF dependent on R&D and other investment activities, and also how D&A really plays out with cash outlays for renewing/upgrading to new units.

Upside Potential
- product adoption is starting to hockey curve, so elite revenue growth could have 2-3 years of above historic sales growth
- cross sell opportunity to existing user base
- Video expanding out of US


30% revenue growth in FY20 is possible, which would sure up cash flow positivity and a small maiden net profit position.

(But still think we get taken out by then....)

Regardless, shaping up to be a cracker of a year for the company.

All IMHO.