Ok...after a second reading lets just clarify... your statement...

Ok...after a second reading lets just clarify... your statement is incorrect... receipts increased 39% QoQ not revenue. While most of us would agree cash is king, receipts do have a way of skewing analysis as some payments could have been deferred, overdue etc... the most accurate and fair way to compare quarters in on revenue. They have not stated revenues for the quarter which is annoying....

So while @t1obrien is correct in stating that 1% increase in receipts will get us CF+ based on the expenditure being what it is stated, we may not see that occur unless we understand whether the 39% increase was due to increased revenue, chasing outstanding payments OR in rare cases receiving payments upfront when revenue has not been recognised.

Regardless, I have now changed my sentiment to but based on this quarterly and the influx of cash coming into the next quarterly.