I'd absolutely expect a larger cash burn this quarter. FRX have been much more active in their marketing of X and it seems to be gaining slow but steady momentum in the App Annie rankings. It will be interesting whether they divulge actual download figures for the quarter or possibly provide an indication of the growth trajectory moving through October too.
Customer signings do help, so long as we get an update on the rate of conversion. After the initial launch, they were reporting 40% in Australia, but perhaps we'd expect an average of 20% globally?
Remember this app is useless without the SIM and there is little point in downloading to trial it like you would with NOR, ZIP or FRX's other OTT products.
I would expect customer churn to be extremely low once a customer is onboarded.
FRX Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
