Ann: CAT H1 FY19 Results Presentation, page-33

Yeh, I believe there is room for more than just one dominant, successful player. 

In in terms of H1 loss, H2 is historically a much stronger result with the seasonality of their revenue cycles.  Not saying I’m ‘happy’ with the loss or their speed to breakeven but it represents a 34% improvement on the PCP (EBITDA 73% improvement). 

In in terms of another CR, something would have to go significantly wrong for this to happen IMO. Remember from the 9m loss, 8m come from depreciation & amortisation (non cash). Of the cash burn in H1, 3.5m was from the company paying off their debt facility.
Factoring that one off in, the cash burn was minimal in H1 and should only improve going forward, 27m is more than enough to fund their trajectory to breakeven.
If im wrong here and another CR is needed I won’t be on this site anymore as I’ll be long sold out hopefully!

I’m no finance expert so if I’m well off with any of these comments please feel free to challenge.

cheers