EN1 3.03% 3.2¢ engage:bdr limited

Too much focus is being put on profitability - I don't see this...

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    Too much focus is being put on profitability - I don't see this as the primary objective
    I can list you a bunch of small tech companies that have +ve ebit - but that doesn't make them amazing by itself;
    - SKF, AER are 2 examples of positive ebit but not progressing that rapidly
    The big thing is rapid growth in traffic (and therefore revenue)
    The main comparative stock to EN1 is Trade Desk - it has had $100 million in investment
    Allowing them to build out a massive platform at great speed - and now reap the rewards at serious scale - with a $multi-billion valuation

    For me the EN1 investment thesis rests on whether they have the opportunity, know-how, and means to attract massively higher traffic across their platforms

    • do they know where the traffic is (or wants to be)
    • do they know what the traffic wants
    • do they know how to service that traffic in a compelling way
    • do they know how to rapidly attract more and more traffic onto their platforms
    • do they know how to run a business

    These last few months have been a 'pilot' for all of those questions

    I think they have built a very good case

    Now we move to expansion!

    All I care about is the daily revenue going up significantly - and the business being managed sensibly around that.
 
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