Financials, what new management will bring?

Last half year results are broadly in line with earnings guidance, revenue is similar to H1 FY15, but profit margin declined.
Market cap has fallen from H1 FY15 of $554m to current $52m (-91%).
Net debt stands at $41.1m, still quite lower than the peak of $56.3m.
Loan facility renewed last year, not much debt issue here.

ANZ revenue back to H1 FY14 level ($42.9m). Given earnings guidance of low to mid $120m revenue, H2 FY19 revenue would be around $60m - $63m, first time to see stablising revenue.

The company recruited high profile management team, it does cost money, but we are likely to see positive results from the new management team.

The outlook confirms modest reduction in copyright (total $8.6m), might see $2m reduction my guess.
Reduction in copyright would help to gain customers.
Currently ISD's market share in ANZ 60%, was around high 70% few years ago.

Investment in product, that's the key to growth, you have to improve the products to keep current clients happy and attract new clients, imo.

Growth Target:

Revenue: Compound annual growth rate in ANZ for FY20 - FY22: 1 - 3%
Compound annual growth rate in Asia for FY20 - FY22: 5 - 10%
EBITDA: Compound annual growth rate for FY20 - FY22: 10 - 20%

If new management team achieved the targeted plan:
EBITDA for FY20 - FY22 would be: $25m; $29m; and $33m.

Let's wait and see if they can deliver the results.