Totally.
This was pretty clearly the case right from that interview we were delighted to view recently, and from the splendid announcement informing us of the $180M figure. I believe they would have been obliged to go into trading halt until between that announcement and the announcement of the acquisition of one had been involved in coming to that revenue figure. Can you imagine if they announced a figure including revenue from an acquisition then allowed trades to take place before informing the market of the source? That just wouldn't be acceptable or legal.
So, here we are! The financial year is officially over! Even taking into account EOFY particulars, that figure is absolutely outstanding and utterly staggering. Coming from the back of organic growth, we're not going to have new acquisitional costs. Something the market doesn't seem to be pricing in, and the conversations here don't seem to be paying attention to, is how dramatic an increase in net revenue this situation translates to. There hasn't been a dramatic increase in costs. We haven't actually made a new acquisition for some time now (I have little doubt we'll have something exciting coming this quarter, but that's in the future and we certainly haven't paid for it yet so it won't be in the quarterly figures...). If you don't significantly increase your costs, and your income goes up by around 30%, by a figure which is literally multiples of your previous quarter's net revenue... just take a wild guess at the % increase in our net revenue! This figure will be lucky if it only blows the market's socks off without blowing off its feet along with them. In many respects, net revenue is more important than gross revenue, and as spectacular as a $180M RRR is, the breakdown is going to look so much better.
After raving about this particular quarterly since last year, I'm so pleased that it's shaping up to be even better than I had been expecting, and I'm thrilled that I've spent this year throwing every spare dollar I've had into topping up. EOFY is now finally behind us, selling pressure will be reduced, we now have less than a month to the quarterly, and we have a very nice month to look forward to, with the 4C set to really end it with a bang, but excitingly, we still have a lot more to look forward to after that.
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