Good points but does the company has defensive earnings that are not affected by upcoming recession?
I think they do. Its the banks and fintech companies that spend up on advertising/ marketing to grow their own revenue and payment processors like Change clip the ever growing ticket.
My main reservations are
1. SAAS products are new from Change. So takes time & money to build credibility and market share.
2. Would like the uptake and onboarding of PAYSIM API to be quicker as I think its going to be a good cash cow.
NB: Big tech like XRO are still losing money after 10 years spending all they have on operating expenses, development & marketing etc. But, I think Change will be profitable in FY2023 recession or not.
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