Any thoughts on Illumin Holdings? It seems to have a lot of cash still on hand.
ILLM has struggled with growth and execution, but shares are up 15% YTD. It has $71M net cash on hand, vs a market cap of $136M. Cash flow was slightly negative though in the last 12 month period. Growth is expected to resume, but it will still likely be unprofitable into 2024. Shares are very cheap vs the US peer group, and this is why we continue to own it in our Model Growth Portfolio. But we are not adding right now, and need to see better momentum and execution here. (5iResearch)