RE:RE:Annual report filed in US
If we take COVID rev out of equation, then the YoY growth is 10.8% in dollars and 6.5% in patient count. The difference actually accounts for inflation fairly well. That means the real growth is 6.5%.
Having a roughly 30% margin, they are slightly shy of rule of 40. I think the true future value of the company comes down to the change in that growth+margin over time. If they can operate efficiently and increase growth, then this is one valuable company, if not, the multiples will be much lower and there isn't a lot of future in this company (as much as I love the company and want it to be successful ... that's the objective truth).
The positive side is that they have a good runway to iterate over and figure this thing out, but that will work if the management is aligned with ownership and they stop giving out unconventional comp packages.
Next 2 quarters will be important.