An unaudited trading update a week or two before the formal 4C? I suspect you are right @mushroompanda

For a single month, not the quarter and without telling us where revenue and cf landed. It feels very much like they're about to drop a CR.

I think it's too early to really know how this business goes. They bought a bunch of businesses in a very crowded sector in a retail boom. There are some very well funded companies in the pet space. I am not sure I want to be the undercapitalised microcap as the sector consolidates.

I think they will find it quite difficult to get top line growth and be cf+. There's no really compelling reason to be in the stock is my tl;dr I guess.

I had exactly the same thought of @mushroompanda and @Wini ; smells like a raise is boiling under the hood. I wrote about how they would almost certainly need one after reading the full year numbers (https://www.goforgrowth.co/p/10-growers-in-fy23-part-2).

It's good they've achieved this milestone, but the bigger question of can the pet-sitting side of the business (where the real margins are) actually start growing again remains.

As you say @UlladullaDave ; for me their also in the wait and see basket.

Does it give you paws for the moment?

Hehe

I've used mad paws particularly just after covid. Much like some of the other task based apps/websites the issue I saw for their business model was that once you had a connection with a pet/family in RL and enchanted numbers, there was no reason to use the app to connect again for work. I used it as a free/paid way to have a holiday that never really put me out but allowed me to change scenery and make a quid on the side for feeding some pets for disclosure.

Digging into the insurance side of what the platform offers (basically that was the only thing holding you to the platform) it was next to nothing. The lawyer speak wrote that, and I'm paraphrasing, if something went wrong or there was damage caused then MadPaws wasn't liable and you were to cover it all btw yourselves (the pet/home owner and the dog sitter).

I used the app for 2 years. I haven't looked into the business from an investment standpoint, wanted to share my thoughts after meeting you last night.