I agree @Silky84, madness.

And that has to be meme of the week right there @Wini lol

Also, talk about a sharp about-face @Noddy74! Still, you're probably not too upset about how SKS has performed over the last year.. nicely done!

Capital raising comment gaffe aside, this was a stellar result from SKS.

$6.5m PBT on $136m revenue is a 4.8% margin with management commentary suggesting they are targeting 5%. You'd hope so given the 2H margin was 5.8% and they are guiding for 50% growth in FY25!

But there is not much to poke a hole in here, the hyper growth has been achieved without too many issues which is probably a testament to the platform set over the last few years to prepare the business for where it is today.

Some scattered notes from the call:

Looking for M&A, but will be strategic (vertical/geography) rather than financial.

Will pay tax next year, they have used all their tax losses.

The $200m revenue guidance is underpinned by $96m work in hand, though importantly that work in hand does not include the recent $90m data centre contract win expected to largely complete in FY25. I'd be amazed if the business doesn't shoot past $200m revenue with further contract wins during the year.

Further to @Wini 's comment about $200m FY25 revenue being a floor and not a ceiling, this slide brought it home for me.

It's a brave microcap that gives FY25 guidance before reporting on FY24 actuals but they were already well on track to achieve $200m+ before the data centre win (and had announced the target before the win).

It was a cracking result and frankly any call that Stella is on is a company I need to pay close attention to!

I just wish they could articulate a better reason to contemplate a capital raise than because external grifters are telling them to. There's nothing wrong with their balance sheet and they've got a debt facility they're not accessing. Maybe they feel the SP is elevated and want to take advantage of that, but signaling a CR will fix that "problem" good and quick. Did you notice how the CEO mentioned the CR unprompted and then when asked about it in Q&A handballed to the CFO? Thanks Boss!

Thanks for zooming out to show their 12 month+ performance @Strawman . Though a bit unfair to use facts to win an argument. I think it was Homer that said "Facts are meaningless. You could use facts to prove anything that's even remotely true".

Anyway it sounds like I'm uber-down on these guys. I'm not. I'm pretty thankful that I fell arse backwards into this company when I did (and I think Luke might of had something to do with that). I'm enjoying the ride and looking forward to seeing where they go from here.

[Held over weight]

If you want to see worse try looking at what WRKR put out in their latest announcement

It's pretty dire when you need to raise to remove the convertible note overhang.

Doesn't relate to SKS but I guess you see the point. Stock got a real spanking that day and nearly reached the issue price of those shares.