@LifeCapital I listened in to the call and I think part of the problem for them is that they aren't on peoples radar. There was not a single question asked following the presentation. For my part though it was a fairly solid update pretty much as expected based the 4C. The moose mobile acquisition appears to be going very well and gave them a good leg up in revenue, along with their own 6% organic growth.

I was a bit surprised at the relatively large statutory loss ($37m vs $5m pcp) - a lot of impairment charges and writedowns ($27m). So this might have taken the gloss of what was otherwise a solid result and all of their metrics are moving in the right direction. I also thought their guidance for 2024, while generally positive was a bit wishy washy in terms of anything concrete to benchmark against.

I think this still has another year of proving that that it has a legitimate niche in the telco world before it will get much much more of a re-rate but I am happy to back it. I am expecting them to maintain positive operating cash flow from here on though. I liked this slide demonstrating it is building a solid future with a nice trend in operating leverage developing.