Amazing, the market cheers LVT results with a 15% sp jump, although its losses has widened significantly. In 2018, its annual loss was $22m, now this same level of losses ($22.7m) have been incurred in just 6 months even though annualised revenues jumped significantly.
The total amount paid to contractors alone for the half year well surpassed all the booked revenues- in other words, the company has negative margins from its subscription revenues.
Also look at the amount of share based expenses made out to management, the $3.81m is just for 6 months (not annualised) so as a % of Loss, its 16.8% (if you divide by half yearly loss of $22.7m).
It is no wonder then that they had to make a large CR for working capital of $7m and to finance acquisition of Wizdom.
