Func was acquired at a cheap multiple. That’s the plus.
Fieldly has been pumping this $100M rev figure since he appeared on yahoo finance a couple months ago. Likely a 6 month+ bake, so this short wave was certainly accumulated by the Func deal. No question.
One question is what they’re going to fix over there? Clearly cost control. Likely a marketing pump and some rebranding expenses will be offset through housecleaning.
Next question is why they’re so comfortable making the investment? Because we’re killing it domestically. And comfortable spending the money / share price stabilization on the offering, meaning going much lower isn’t likely in the eyes of mgmt or deep pocket backers. We will see how the market responds.
Guessing they have another big domestic announcement lined up to feel comfortable enough with this deal.
There’s a PL play and market penetration to Europe. Get ready for massive revenues.