ASX volumes were actually fairly low, close to baseline (though...

ASX volumes were actually fairly low, close to baseline (though I can't break it down between retail and instos/robots) -



I'm expecting trades to be +10-15% QoQ. Specifically, 381k. Or let's say 370-400k.

Using a different way to estimate, I came to 418k expected trades, but I'll stick with 381k as my guess. I could be surprised to the upside.

This quarter will have relatively high free trades after EOFY sale, so has the potential to have lowish cashflow. I'm not sure what amount to estimate for cashflow, but any positive amount would be fine with me, to get us through to the March quarter, when costs will be falling per trade.

I remember mention of '50k users passed in July', so I guess users will go from 21.7k (+3.7k) in Dec, to 32.3k (+10.6k) in Mar, to 46.4k (+14.1k) in June, to 58k (+11.6k) in Sept. If that's right, then the high sign-ups since COVID will have kept up for 3 quarters already - not bad.

Then I heard mention of 400m client cash reached in Aug, so I guess client cash will be >$400m, from $366m in June.


I guess $4.5m revenue (if trades and cash are up 10-15%), since last quarter was skewed up by EOFY sale subscription pre-payments, while this quarter will be skewed down by EOFY sale free trades.