Post by
hrgoyal on Aug 24, 2023 2:08pm
Q2 Results analysis
Quaterly Results
Product/Hardware/Software Service Recurring Fee Total Net Profit/Loss
21Q1 0.98M 14K 0.73M 1.73M - 39K
21Q2 1.63M 18K 0.64M 2.28M +130K
21Q3 1.66M 17K 0.74M 2.42M +145K
21Q4 1.32M 18K 0.76M 2.11M +177K
22Q1 1.42M 135K 0.81M 2.37M +16K
22Q2 1.78M 47K 0.90M 2.73M +154K
22Q3 1.55M 57K 1.04M 2.65M +216K
22Q4 1.10M 60K 1.12M 2.28M +140K
23Q1 1.42M 58K 1.20M 2.68M +141K
23Q2 1.76M 66K 1.26M 3.09M +80K
The RED flags are:
- no increase in Unit sales revenue YoY
-Decrease of 48% in net profit YoY.
-Only 6K increase in recurring revenue QoQ.
Yellow Flags
-Increase in trade receivable more than 90 days is 323K, 3x compared to end of 2022
-Bad debt is 38K (Company sells B2B. Why no proper vetting of dealers)
The way net profit is going, company may not have 1c EPS even in 2024.
Company has money to invest 1.5M in GIC and to prepay 0.5M to suppliers. No money for NCIB. What if suppliers go bankrupt?