Todays update - record sales blah blah, not enough for the market though. Basically the whole TPW market cap (start of 2020) wiped off today, crazy, crazy stuff! Tomorrow will be interesting. Some of these other online players must be getting nervous.
• A record full year revenue of 176.3m up 74% on the year before. This growth accelerated
during the year, with the second half growing 96% and the fourth quarter up 130% vs the
prior comparable period (‘pcp’).
• Accelerated operational leverage delivered 483% growth in EBITDA to 8.5m v the pcp with
adjusted EBITDA margins improving from 2.5% in FY19 to 5.3% in FY20.
• The strong bottom-line result, combined with the negative working capital nature of the
business model, allowed us to finish the year with 38.1m in cash and zero debt. That
excludes the proceeds from the 40M capital raise conducted at the beginning of FY21. The
strength of our balance sheet will not only protect us in any down-side scenario, but also
allow us to pursue strategic opportunities as they arise.