@Wini thanks for sharing this insight. I agree, if NSW Govt becomes another material leg of the story that is good news indeed. My assumption before reading your post was that it must be coming from the corporate clients. But even better if a State Goverment is embracing the solution. (So, after all, perhaps it is good that we live in the land of BIG government!)

Lucky for them that they are somewhat protected from macro, just because kind of customer they are targeting.

@Valueinvestor0909 Is this luck though, or is it just understanding the dynamics of the niche they are trying to exploit?

I thought this was an interesting comment from the CEO-

“8Common are experiencing unprecedentedly strong customer demand for our leading travel and expense management solutions. To support the multiple on-boarding projects, we have engaged contractors from tier-1 consulting firms who have the requisite security clearances and experience to work alongside our internal teams. In tandem with these efforts, we also made the strategic decisions to further invest in our infrastructure and security capabilities to support future growth and prepare for operating in a “Protected” status (for Federal Government clients).”

Puts some context around the negative cashflow for the quarter, but I couldn’t see where these extra external contractor costs actually show up in the 4C. Staff costs are $453K this quarter vs $702k last quarter, so not sure if they have really added any extra cost vs just a pure revenue timing recognition problem driving the cash outflow.

very good news on the director loan- 6% interest on $1.5M, and now removes much of the uncertainty around capital position.

small positive for CardHero - now up to $53k ARR after increasing $14k Q/Q, I still have hopes that this one will ultimately deliver something meaningful.