Thanks. Here is the link to the Canary Capital research report mentioned in the clip.

FWIW CC value the business at $1.10 per share, using a DCF to FY29.

My valuation range publsihed here (3 yr financials basis, with various P/Es) is $0.73 ($0.53 - $0.92)

While I've not reconciled the two methods, CC have higher revenue growth with a longer (+2-yr) explicit time horizon, and that probably explains the difference. I want to see more evidence of international traction before I'm prepared to take that leap of faith.

Clearly, CC are a significant investor, so there is a conflict of interest in their valuation. But then again, so am I (but not significant!).

Digging into my conflict of interest in a little more detail: I want time to build a position without the SP getting away on me, so I can hold up my hand and state that I have erred on the side of conservatism in all likelihood, even though I think I have tried to represent an honest view.

DYOR. I think Nadine did a good job running the interview.

@Remorhaz Thanks, I watching now, cheers