Jun. 2 at 12:20 PM
$PHAT They will exceed 74m consensus for Q2. We have 77m. Bear in mind that net revenue - which is what they report - will benefit from an additional
$17-20M this year and, commensurately, COGS will inflate by
$17-20M. The Q2 'benefit' will be c.
$4.7M, taking revenue from a like-for-like
$72M informed by the scrip data to nearer
$77M i.e. they're going to BEAT consensus.