Travel in Asia is returning to full swing and I can attest that these e-sims are a real life saver. Ever had to remove a sim card from your phone while travelling or with kids? The uptake of this technology will become mainstream that quickly.
The market has not grasped how FRX make money. When travel resumes and the ramp up of product sales in Asia occurs this will be cash flow positive and should be $100M+ valuation.
Baseline revenues now are $3M per annum. That is before the latest 2 deals in Asia.
If you check the thread @gizard has already hit the nail on the head. Mastercard and Apple aren't just reselling these. They are buying them off FRX to give to their customers for free. It is one of the easiest business models.
Consider what FRX revenues will be once 10M+ sims are handed out over the next few months.
As soon as travel starts you have scoot ( Singapore airlines) low cost carrier giving out frx sims with tickets
you have Malaysian airlines giving out 6 million sims
you have other airlines like royal Brunei as well
why are these carriers helping frx for free ????????
then you have Mastercard BUYING $frx sims and giving them away to reward new cardholders. Mastercard signing up banks over asia to give frx sims away.
Gives Mastercard holders secure connection over different networks to use mastercard.????????????
why is mastercard paying frx to give there sims away
