Pinned straw:
Discl. Still not held, sold out RL+SM @ 2.80 a while back. Monitoring closely for re-entry pending legal resolutions and price draw down.
Just wanted to highlight something I came across this morning. I pulled up all the contract wins for Nuix at DFAT going back to 2016 and you can see a clear upward trend. It was similar (albeit lower magnitude) at the other Federal government customers.
Note that this was calculated per contract per month and then summarized per calendar year rather than per contract. The contracts largely run March to March, hence you see the CY24 contract spilling into CY25 (it was the biggest, at $660K).
@neke86_ what do you figure would be a good price to get back into this one. I think you and I were the last two investors on Strawman.
I know I went on a nearly 3 year ride of pain on this one before I managed to get out with what equated to an 18% p.a. Return (thanks to averaging down at around $1.45). All the legal stuff / alleged dodgy behavior of key management etc. has left me pretty gun shy even though I still like the technology and their recent numbers look pretty good. (Two revenue announcements close to EOFY with the second bumping up the one from a couple of weeks earlier by a substantial amount). The downside of this is that I’d say they don’t have great control over their revenue as its was a pretty big change over a couple of weeks and less than a month from EOFY.
Seems like the market has already priced them as being through the bulk of the legal expenses (which has been a pretty big drag on overall statutory earnings).