Ann: Appendix 4C - quarterly, page-15

September sales were $441 k and as the company says, well up on the June quarter of $308 k (44% up they say). But that's not a like for like comparison. From my extractions (and I'm happy to be corrected):
Sep sales $441 k
June $ 308 k
March $ 247 k
Previous 2 quarters: Average of $389 k each (I only have the half year revenue figure of $778 k)

So whilst sales were up, on a LFL basis, I'd say its more like say 13% up, not 44%! So, let's not get too excited yet.

A longer term quarterly revenue comparison was omitted from their update (pity), although they did include one for recurring revenue.

I also have to say why so much spent on R & D ?- $526 k (39%) of FY17 revenue. Ouch! It looks like it might have been backed off in the latest Q statement (16% of cash receipts).
I've tried to do an actual GP & profit/loss calculation for the quarter, given the company is busy building its inventories for expansion. But here's my figures for the sake of being harassed on each:
Sales $ 441
COGS $ 185 (say 42% in line with FY16 and FY17 data)
GP 256 (58%)

R & D 64 (From the 4C- yes I know that's the cash outflow, but it's all I have)
General/admin 106 (I've used 24% as per FY17)
Employees 96 (I've used FY17 $382/4)
Market/advert 89 (from the 4C)
Rent 11 ($43 k in FY17/4)

(Loss) (110) In a relatively good quarter

But the 'eagle eyed' people reading this, comparing the above to the 4C will see that:

1. Staff costs $314 k (from the 4C) whereas my figure is $96 k (that's a big difference)
2. Admin & corporate costs $ 387 k (I've used an estimate of $106 k so again, that's a big difference )

I'm sure there are a lot of one off costs in the 4C due to the ASX listing etc. It's just hard to quantify for now, what the bottom line profitability currently is. In the meantime, it's a punt/speculation on the success of the product's marketing on the Eastern coast. I don't see the technology as break through (and still can't quite see how so much was spent on R & D....). Further, it's a very competitive market with low to nil barriers to entry.