The 4C due in the coming few days will be an interesting read,...

The 4C due in the coming few days will be an interesting read, but I think the market is waiting on EBIT / NPBT numbers which we'll get in next month's FY21 report.

While revenue numbers continue to grow substantially, larger investors may be more cautious given the Q1 NPBT of $800k on $9.8m revenue was tempered by Q2 which saw rev dip to $9.4 and NPBT to $250k. Informed investors understand the reasons behind this, and have been reassured HT8 is still in a significant growth phase as over the last 6 months we've seen sustained (phenomenal) 10%+ QOQ growth, with evidence pointing to maintaining this trajectory.

But we don't yet know how this revenue growth translates to the bottom line.

My NPBT estimate is $2.4m with an exit rate into FY22 of $3m. However I expect FY22 to be exceeded as revenue growth continues and the company takes advantage of margin improvement through scale, particularly in the following areas:
- Cost of Goods (equating to Gross Profit) - greater purchasing power giving access to improved price breaks and more efficient logistics
- Staff costs - HT8 has already demonstrated high proficiency in this area (take a look at staff cost increases vs revenue increase over last 12 months), and expect this to continue
- Financing costs - we will see these decrease over coming 4Cs as debt is fully repaid in part by the latest CR and organically as we're CF+.

Interested in other holders' NPBT expectations.