Another impressive quarter from Qoria demonstrating further annual recurring revenue (ARR) growth and solid ongoing cost control. The Company reiterates its expectation of achieving positive monthly operating cash flow and cash EBITDA during CY2024 without the need for additional funding. We view Qoria as being “in play” following the recent K1 bid at $0.40 and set a target price of $0.50 incorporating a 25% takeover premium to our underlying valuation. BUY retained.
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