The key to this stock is gross profit margin rather than revenue. A 7% improvement in margin ( as per 1st 1/2 24) is equal to a 14% improvement in actual gross profits.
If we continue to get higher GP margins on recurring revenue (which we should as existing clients continue to move over to swift access) AND we also get increasing revenue because of new contracts, then EBITDA growth is compounded at an increasingly accelerating rate.
This is the beauty of the SAAS business model and why tech companies are highly priced.
