RE:FinancialsI expected it because their profits were largely based on market valuations of their equity portfolio, which as we know declined from quarter to quarter.
Am I concerned? No.
If you are a believer that gold is undervalued at these prices, which in my mind it is based on the substantial depletion of profitably minable (at these prices) gold reserves over the last decade, then this is just short-term market noise.
Goldspot holds a unique position in the industry in that they are helping companies find new profitably minable deposits -- which the world is going to need soon if it hopes to continue meeting global demand for gold. Not only is SPOT benefiting from consulting revenue, but they are investing in a host of the potetnially largest and most profitable mines of the future. Most of these investments won't pan out, but if we get another Newfound Gold or two in the process, that will be more than enough to increase the value (and share price) by multiples.
There is also the transition to recurring SaaS revenue that will benefit the company in the medium term, diminishing somewhat the quarterly effects of market fluctuations.
My two cents.
Tslayer wrote: Aybody concerned about the large turnaround in profitability last quarter to a large loss this quarter? Not bashing. Just looking for input.