We're expecting MWR to bounce after their positive sales update announced after market close yesterday.
Highlights from the announcement:
• SPACETALK reports strong pre-Christmas sales peaking at 1,300 units a week
• Approx. 15,100 SPACETALK units sold since the Oct-17 launch to date;
− 10,989 units sold in 1H FY19
− includes over 9,000 units sold leading into Christmas
− over 10x the number sold in the same period last year
− over 6x the number sold in the 9 months from launch to the end of FY18
• Bricks and mortar retailers continue to re-order ahead of ‘back-to-school'
• Post-Christmas sales continue in ‘back to school’ promotion
• Recurring App revenue exceeded $30,000 per month in December with over 6,200 active subscribers
• Total Company 1H FY19 revenues exceeded $4.00 million (un-audited), an increase of 154% the same period in FY18
• Cash balance circa $2.5 million (unaudited) at December 31
• Negotiations underway with European telcos and retailers with first European launch
expected this financial year
• MGM Supports NSW Government ban of mobile phones in primary schools
Click here for the full announcement.
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Corporate Finance - Executive Director
Gleneagle Securities (Aust) Pty Limited
Level 27, 25 Bligh Street, Sydney NSW 2000
Ph: +612 8277 6683