Pinned straw:
Great writeup @Valueinvestor0909.
I took a small position in real life after the half yearly results. I wanted to add more, but the price ran away from me. The attraction is the new management team putting a leach on costs, and inflecting into cash-flow positivity.
The recent examples of VHT and MP1 (and many others) have shown, that previous levels of high spending might not have been all that necessary to facilitate growth. Reining in the costs put these companies on more sustainable trajectories and transformed the investment narrative.
The danger is well run competitors such as Hudl. Hudl have much better video solutions (including hardware that can film training sessions and games with no operators), and have recently complemented this with a wearables offering similar to CAT's. Video analysis intuitively feels like the more sticky product, in which case could wearables be relegated to just a feature in a broad elite sport platform?
Great write-up @Valueinvestor0909 -- although perhaps that's just because as a long term baggy I want it to be true :)
What a journey this thing has been.. But maybe, just maybe, it's time has come!
