Urbanise has reported a 27% improvement in Q4 revenue, which came in at $2.61m. For the full year revenue was up 19.5% to $9.65m.

Cash flow positive, thanks in part to deferred costs and tax relief associated with Covid. But importantly, it was also driven by good cost control, with monthly cash usage back to 2014 levels. 

Current cash holdings of $4.55m, no material debt.

No impact from covid.

Shares presently on a market cap of ~$50m, so on a price to sales ratio of 5.2x. Not crazy in this market and given strong revenue growth

This company has been plagued by poor cost decipline in the past, so really good seeing the new team getting the ship in order. Always interested by stocks with:

• Strong top line growth
• Long growth runway
• Best in class product
• At or approaching a breakeven inflection point
• Low debt and sufficient cash reserves
• Sticky customers
• Positive operating leverage

Urbanise seems to fit the bill, although i need to do a lot more due dilligence.

ASX anouncement here