Ann: Becoming a substantial holder from AEF, page-4

Agreed - nice steady growing SaaS business, very under the radar at the moment. And as far as I can recall from the quarterly, FY revenue is expected to be in line with prospectus forecast of US$35.4m and EBITDA ahead of forecasts because of the falling Aussie Dollar.

Only issue is profitability, but they have a heap of cash on hand (A$65m) so won't need to come back to the market for a while. As long as their revenue growth continues unabated, which I think it will then this looks good.

FY20 revenue is expected to grow to over US$40m which is consistent with revenue growth we've seen over the past 3-4 years (around 14-16% p.a).

On FY20 revenue Nitro is on a multiple of just 5 times sales.

Low compared to other SaaS businesses.