Stakk Limited

ASX:SKK

Stakk Limited

ASX:SKK
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$0.028 (-3.4%)
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#319
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Reports (1) My Report Forum Investors
Forum Topics SKK SKK Dilution

Pinned straw:
Keyboardcat999
Last edited 2 months ago

Stakk held a presentation last Wednesday and in the presentation they provided some commentary and revenue numbers.

These charts are pretty chart crime-y but my favourite past time is making decisions based on unaudited, forecast numbers.

Adding together the numbers for FY26 in AUD we get approximately $5m in total revenue. Using the June 2026 exit run rate and assuming no further growth, this gives us FY27 revenue of approximately $9.6m.

These numbers are pretty consistent with my initial valuation, but I need to adjust downwards due to higher dilution from the AGM.

New valuation of $0.03.

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Schwerms
Added 2 months ago

The dilution is pretty unsavoury, numbers are allegedly based on organic growth only from currently signed contracts right and allegedly conservative.

With the constant M&A talk thinking they have something cooking on that front that hopefully doesn't chew through much of the 15m in the bank.

Interested to see how this one goes if they can keep the new contract signings firing.

I wonder if the spending levels in the last 4c will be similar for the coming quarters, the costs really jumped.

8
Keyboardcat999
Added 2 months ago

Some of the dilution may have been necessary to fix the capital structure of the company. The biggest share issuance was to convert an outstanding loan into equity, and another resolution was to pay for the capital raising they did with equity. The business model has only recently changed, so it is understandable that it will take time to bring the capital structure and balance sheet into a healthy position.

In my initial post I did raise that capital management is key moving forward, so I'm treating it like a warning sign for my investment thesis. Not quite a complete sell signal, but a very yellow flag.

7