For your perusal and analysis.......source didn't have 2021 yet....

For your perusal and analysis.......source didn't have 2021 yet. ( full year in August )
Some values are calculated in my spreadsheet so yell if something looks wrong.

Interesting numbers in there, for example.

• Contrary to popular belief, the total liabilities ( including debt ) is lower per share than in 2011 by ~31%

• Gross profit per share is the main issue and is what needs to be fixed with new strategy.

• Net income is not a good measure for long term because it is distorted over short term ( accounting ).

• Assets ( Excluding goodwill / intangibles ) per share were at $0.49 .... ( and this is a business that derives it's value exactly FROM the intangibles ... so can't really do that but just want to make a base case here )

... $1.47 if you include them.

	Fiscal Period	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020
1	Period End Date:	2011-06-30	2012-06-30	2013-06-30	2014-06-30	2015-06-30	2016-06-30	2017-06-30	2018-06-30	2019-06-30	2020-06-30
2	Total Revenue	50.1	52.55	83.43	143.25	141.42	267.28	572.6	530.43	526.22	457.77
3	Cost of Revenue, Total	26.86	29.34	44.44	68.2	61.43	96.78	247.25	246.08	209.8	223.19
4	Gross Profit	20.44	22.74	38.99	75.05	79.99	170.5	325.34	284.35	316.42	234.58
5	Gross Profit %	40.80%	43.27%	46.73%	52.39%	56.56%	63.79%	56.82%	53.61%	60.13%	51.24%
6
7	Opex / Depreciation / Amortization	24.75	15.46	39.7	47.01	68.75	120.67	209.42	451.13	670.13	369.96
8	Operating Income	-1.5	7.75	-0.7	28.02	11.24	49.84	115.94	-166.79	-353.72	-135.37
9
10	Net Income	1.68	6.15	-2.84	21.29	7.76	37.36	88.57	-133.98	-279.2	-92.79
11
12	Cash	5.71	11.6	18.94	14.81	59.2	47.48	63.03	87.31	89	137.79
13
14	Total Current Assets	18.84	23.26	61.91	65.9	156.82	1,077.05	422.12	480.77	471.95	490.95
15
16	Intangibles, Net	7.79	3.8	68.27	93.64	244.52	272.37	1,177.22	1,033.91	775.91	940.12
17	Total Assets	53.68	50.2	233.39	265.82	528.95	1,525.78	1,908.04	1,830.51	1,635.74	1,825.18
18	Total Assets ( No Goodwill/Intagibles)	48.12	44.97	111.06	112.23	128.76	200.7	439.74	525.26	602.19	610.18
19
20	Total Current Liabilities	14.94	12.3	42.11	30.38	95.08	1,024.33	193.01	180.73	211.33	219.25
21
22	Total Debt	8.18	-	46.7	48.03	62.75	76.83	340.25	374.19	369.38	398.05
23
24	Total Liabilities	29.5	19.6	112.5	106.55	218.08	1,162.03	604.2	604.04	628.57	787.63
25
26	Cash from Financing Activities	-8.11	-2.32	126.18	19.89	115.11	17.99	1,129.67	20.18	-15.55	4.52
27
28	Net Change in Cash	-13.9	5.79	7.34	-5.32	44.09	-12.09	15.17	24.29	1.69	48.78
29
30	Common Stock, Total	31.87	32.02	118.3	137.5	255.83	263.16	1,130.40	1,131.76	1,140.01	1,238.58
31
32	Per Share Numbers
33
34	Gross Profit Per Share	0.64	0.71	0.33	0.55	0.31	0.65	0.29	0.25	0.28	0.19
35	Net Income Per Share	0.05	0.19	-0.02	0.15	0.03	0.14	0.08	-0.12	-0.24	-0.07
36
37	Total Liabilities Per Share	0.93	0.61	0.95	0.77	0.85	4.42	0.53	0.53	0.55	0.64
38	Total Current Assets Per Share	0.59	0.73	0.52	0.48	0.61	4.09	0.37	0.42	0.41	0.40
39
40	Assets ( No Goodwill / Intangibles) Per Share	1.51	1.40	0.94	0.82	0.50	0.76	0.39	0.46	0.53	0.49
41	Assets per share	1.68	1.57	1.97	1.93	2.07	5.80	1.69	1.62	1.43	1.47