So the Q1 Result is out. From the highlight
- Revenue: $8.5 million (up 63%)
- EBITDAi: $0.6 million (up 33%)
- Net income: $0.3 million (up 91%)
- Cash and Working Capital: $5.0 and $3.8 million respectively
- Order intake: $2.8 million (down 15%)
- Order backlogii was $13.5 million as at August 31, 2024 (up 17% year-over-year) and increased to $18.4 million as at October 28, 2024
I quickly checked the number, it is not compare to n year early. It is compared to last year. I will dig into further to see how lumpy it is. You cannot be too careful.
One thing I need to verify is the expense on the newly hired team which reduces the net income directly. If there is still income growth after the HR expense, the hiring is justified.