Revenue 2017 $10,378,808 Profit $454,286
Revenue 2018 $11,945,625 Profit $847,267
Revenue 2019 $12,597,475 Profit $338,114
Revenue 2020 $11,213,413 Loss ($335,419) This is well before COVID arrived on the scene
As Hatchman admitted himself in recent times - the company has hit head winds. The revenue has stagnated and due to massive overheads, the profit is now a loss.
I would assume the revenue for this financial year will take a massive hit and the loss figure will escalate.
The issue remains. Apart from Riyo, the company remains firmly entrenched with being an agent for Netsuite. They need a massive sales force to operate such a business with escalating costs, they have no control over pricing/profit, plus have opposition companies flogging the same products. Plus revenue growth has stalled.
JCurve do not own their business, in fact Nestsuite owns JCurve
Sure they have funds in the bank, but that is a security blanket to keep the existing business model in place. Earning zero.
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