With staff and admin costs up 211% vs around 125% for revenue and EBITDA, it suggests to me that the company hasn't reached scale. I haven't delved deep enough to understand if this is as scalable as previously indicated and probably won't do so for some time as I have an abundance of alternative investment ideas that have priority. If/when they achieve this, it acts as an inflection point for profits whereby every extra dollar of revenue after this point largely falls straight to the bottom line. If the can convert a healthy proportion of their potential users into actual regular users over the coming years, then profits could rise quite rapidly in 2 to 5 years time. Definitely one to keep on the watchlist in the meantime.
NNW Price at posting:
24.0¢ Sentiment: None Disclosure: Not Held
