May 30, 2023 at 8:51 am
#4878
Nick HargraveKeymaster
The release of the Q1 results highlights the need for additional funding previously highlighted given the marketing cost spend on new subscribers, which was greater than our expectations. While the latest KPI update shows continued top line growth with greatly reduced marketing spend, the Q1 spend significantly reduced cash balances. While management has proved very capable, revenue from new B2B agreements or significantly reduced marketing spend are required to extend the runway to potential funding, where the terms in the current market may not on the terms originally hoped. The business does appear to be achieving its targets, but the next couple of months require the cash flow needle to be threaded to ensure the potential is achieved
