RE:RE:RE:RE:RE:interesting read , not on TMG , on steam from Bronte CapitalYou can ask the question more broadly. In 2011 or 2012 they had revenues of $12-$13 million. A dozen years later we are roughly double. This double includes likely more than double the staff including acquisition of BEI which generated about $2.5 million before being acquired.
GEM had more than 100 clients before being acquired and included many multinationals. TEi boasts some 100 clients over time including less than 5% penetration rate for its largest Fortune 500 companies. But we can see from the news releases that repeat sales, for at least heat recovery projects, are infrequent for all but less than a handful of clients.
Products seem to be delivering advertised (economic) benefits, so the question is why they are not doubt better. Something in the strategy and execution, but how can you expect the same leadership that has been here for 15 years to adjust? Harnden offered an opportunity for a new exec to provide some newer perspective but I am not sure we are seeing any contribution in the NA sales just yet. For starters gotta get the bigger clients to order multiple systems at the same time....that's supposed to be the benefit of landing a large client.
Anyhow; time for a contract.