It's possible it's true - re SPT lost merchants and it's a cover up, but just thinking about it...covering up what? who cares? as some say it's not the size that matters, it's what you do with it that matters.
no point listing merchants that don't deliver sales - what a waste! active shoppers up 43%; sounds like they focused on partnering with better merchants to me, and focusing more on numbers that matter -- i mean SPT could say signed up 10,000,000 merchants but what's the point if no revenue increases? Regardless I see your point and you should never trust those "management reports" for any company; always look at true financials. I could paste here some of the crap for other BNPL in management reports -- but what's the point (it's smoke and mirrors); interesting, but made to sell a positive story, not unique to SPT or just about any asx stock in fact. (it's not illegal to even lie about numbers if you want! - you just can't lie on your financial statements); I notice SPT don't directly lie though, which is good and speaks to their name.
I could easily say SPT is building a name with more quality merchants and dumping the loser merchants who have limited themselves (if they left they will beg to come back when the planes start flying) - sounds like a good move to me. BUT yeah what's the point of weaving a story~~~ only the revenue matters to me and that it grows while costs go down.
in terms of small revenue; It can't reach $100M revenue in a year as they cant sell bad debt (literally they can't be corrupt and have to be good corporate); yep that's held them back for sure - agree
Agree - all BNPL high risk stock, even SPT.. but no guts no glory-- I'll stick with my investment with SPT.
My biggest concerns with SPT was Brads retirement and the cash burn trying to keep up with z1pples etc; instead of trying to shock the market with unsustainable revenue increases they seem to continue to focus on building a quality building with decent merchant partners -- crazy but very slow moving.. I can see a few mistakes along the way, but I can see they are smart and trying move the strategy with the times..
only time will tell.
SPT Price at posting:
15.5¢ Sentiment: Buy Disclosure: Held
