Ann: Trading Halt, page-65

Not sure how you've calculated that.
I'm also not sure if the revenue model has changed as that investor preso was some time ago. They had previously said $1/property/month which works out similarly. Once they have a large user base I suspect they'd raise prices.
~83k properties would give you $1mil revenue on that basis. There's 1.5mil properties managed by agents in Aus (old data). Geoff G's target is market leader WA by end of 2021, market leader in Aus end of 2022 from the **promotion blocked** interview. Also has indicated a vision to expand into privately managed properties, which is another 1.5mil in Aus....
It's very early days as far as sales goes, but from my research I think their product concept is disruptive relative to existing products and has decent potential to capture a slice of those markets in the next couple of years.