Thought I’d start anew thread to discuss about the upcoming H1...

Thought I’d start anew thread to discuss about the upcoming H1 results. I am a bit annoyed wehaven't yet received any trading updates but it is what it is.

Putting aside,G&I and VANs, I will focus on the GPR segment. The reality is that if wewant to get to a +$10b USD valuation (like some of our competitors startingwith "M") then this will have to come from the GRP segment & wewill need to a much faster acceleration in revenue growth.

Over the past couple of years the GRP revenue has grown organically and fromacquisition. We know from the last update the 'EML of old' GPR revenues grew16% QoQ & the PFS grew revenues 24% QoQ. Now it’s a mugs game here to putsome assumptions in for how the FY will transpire but my base case is 5-10% QoQgrowth and anything above 20% is (rocket emoji) stuff. At 10% QoQ GPR growththat should equate to ~$120m Rev from this segment alone for the FY21.

Breakdown

FY19 - $23.9m Revenue GPR
FY20 - $41.9m Revenue GPR
Q1FY21 - $26.3m Revenue GPR
Est FY21 -$120m Revenue GPR (w/ 10% QoQ growth)

Now how will revenues in this segment accelerate? This is the primary focus of the internal and external investments EML have been making- $10-15m in internal product R&D + FinLabs investments (2investments so far that we know of) - so this is the key to revenues here having a snowball effect. We are 6+ months into the acceleration project and really need to see some concrete evidence or news that it is working.

The most telling sign of this would be some comments from management on the sales pipeline front and an indication we are leveraging off this new/updated product set to compete for deals higher up the food chain. Are we taking our partners into multiple markets via the single touchpoint? Are be beating competitors on new deals based on the product investment? Are we moving into new verticals or creating new use cases that are actually working? Are existing clients adding and using these new features we are developing?

I could go on but might stop there. what iseveryone else expecting?