Ann: Crowd Mobile Reports Strong Third Quarter, page-8

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26/04/17

11:51

Post #: 24267576
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Originally posted by sharks37 ↑

If I compare the quarterly figures published today to the half yearly figures for H1 FY17, I get the following:

Neutral: Revenue = $10.M (Q3) cf $21.5M for H1 = exactly half, or flat
Plus: Underlying EBITDA = $3.0M cf $4.7M for H1 = 30% improvement on an annualised basis
Plus: Q&A billed messages up 24% on previous quarter (already known)

But

Track (Subscription Div):

"Customer volumes and general financial performance for the Subscription division continued to stabilise in the March quarter"

I read that as contribution from Track is still not improving.

Also

The announcement advises that net debt will be $3.4M after completion of placement. The announcement actually hasn't said whether they will be reducing the debt or just adding the cash to working capital (net debt can be reduced either by paying down debt or adding to working capital) - why would they not state explicitly have much of the debt has been paid back from the proceedings of the placement, or express the figure in terms of gross debt?

I think the announcement in light of the above is rather mixed I'm afraid. Hopefully the market likes it, but I don't.

Cheers, Sharks.

Expand

Hi Sharks, $10.8m

Looks like revs $43-44m FY17 vs $37m FY16. 16% growth min.

What I am liking most is the strong EBITDA trend.

FY17
Q1. $2.2m
Q2. $2.5m
Q3. $3m

CM8 Price at posting: 15.0¢ Sentiment: Buy Disclosure: Held
5 Upvote

0 Great analysis

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Ann: Crowd Mobile Reports Strong Third Quarter, page-8

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