Smashing result announced. Key takeaways:
1) Revenue up 73% on pcp.
2) EBITDA of $7.7 Millon, up 522% on pcp.
3) CASH UP 50% FROM JUNE 30 2020, to $11.6 M.
Services Division - Revenue of $8.1 Million, down from $7.7 M in Q4 2020. However, gross margin expanded to 33% , with expansion plans for Asia flagged. Bad news fo rthe Strawman classic - Incentive scheme extended to June 30 2021, so a sale of the Services division will not occur during the Classic :(. Noting the the busness is likely to sell for around 8x EBITDA, he servies division is worth about $51 million at the current EBITDA rate.
Technology division is generating high margins courtersy of the IMOD contract. Maangment flagging a healthy pipeline of opportunities. Something to watch closely as the IMOD contact phases out in Q4.