Share price explanation?

I was interested in this company until I looked at the FY annual reports for FY19, FY20 & FY21 guidance, and looked at the sections discussing Contigo & Ez-nergy acquisitions.

FY19 had 6 months of Contigo more or less, where it is stated Contigo contributed circa $4.8m of revenue. Without Contigo EOL would have done circa 10% revenue growth for FY19 (I mean I think they're pretty up front that Aus revenue is difficult to grow, so no surprise there) with very meagre NPAT gains.

FY20 had the full year of contribution from Contigo. This is stated as circa $9m revenue. How much did Aus revenue climb for FY20? $400,000. Incredibly low. How much revenue did Contigo climb compared to that stated at acquisition? $500,000. Incredibly low.

FY21 has a revenue forecast of $25m, which they've indicated they've mildly beating. However, this forecast takes into account a full year of contribution from Ez-nergy. How much revenue does Ez-nergy generate on an annual basis? Around $4m AUD. So (putting the very minor potential revenue beat to the side) EOL are saying they expect to add an additional, what, $700k AUD of revenue between the Aus business and Contigo for FY21?

God those synergies had better be phenomenal. For a company with a market cap of $160m AUD these growth rates at such a low starting base are (so far) absolutely abysmal. Apologies if I'm missing something.

DYOR. NIA.