It is fairly typical of a early stage company / startup Littlecorn, hence why not many of them list on the sharemarket, as investors rarely have enough patience to see what is being built.
The company mentions this in the half yearly report, the ramp up to launch the 4 platforms saw a significant increase in costs, but as noted with the RBC launch, they have now established a lot of efficiency in onboarding new partners, which was seen with their speed to market for RBC (converting revenue!).
They also noted that growth in costs would now be more closely aligned with revenue growth (I would hope exceeded by revenue growth) and that they will also be focusing on cost control management....its all in there if you want to check the report again yourself!
No one is happy with the share price, but continued growth in user adoption (Barclays, Suncorp and RBC), along with a few more channel partners (NZ, Singapore, USA) could turn this around pretty quickly.
9SP Price at posting:
6.7¢ Sentiment: Buy Disclosure: Held
