Despite achieving 30% revenue growth in 2016, to £12.2m, and an improvement in gross margin to just over 60%, the share price of SIS has fallen back. We wrote previously that the SIS cash balance looked sufficient to prevent any prospect of short-term dilution and indeed the diminution of the cash balance over the six month period from June to December 2016 was just £0.5m, leaving cash and cash equivalents of £6.1m. The total cash burn over the year was £2.6m. Growth in brand awareness is the key priority, as it is the route toward self-funding growth, particularly as it…
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