I've definitely been a vocal critic of this business and call them out on a poor performance thus far. I mentioned in a post about 6 months ago that an enterprise deal like this one would be needed to really grow revenues. The website is steady 25% yoy not was never going to be the main driver. Potentially the new launch will help revenue growth here but we're talking only 2m a year at the minute.
Hopefully there is a recurring component to the revenue structure as well in order to build a stronger base to cover costs. If it's only project based then I'm less confident that this one deal is transformative.
The way it seemed to me is, mgmt think this will help them close more enterprise deal as a 'proof' mechanism. I hope it does and more announcements like these follow.
I hope this doesn't fizzle out like Bloomberg ect did, but I'm more confident given they got approval for funding and there is a plan for a further roll-out across AXA's Asian region.
KYK Price at posting:
6.5¢ Sentiment: Hold Disclosure: Not Held
