How do you know it's not going to be much bigger? You don't.
What I do know is the expected revenue from Phase 1 ($1.1m pa or circa $275k per 1/4) and that it is from a small portion of the total users. They'll be rolling out Phase 2 in early 2024 upon completion of Phase 1, so the expectation is that if the revenue from a small portion of the 10,000 users is $1.1m pa, then the revenue from all of the users should be much bigger.
Even if the 'small portion of users' in Phase 1 involved 1/3 of total users, then you'd still expect that revenue would say $3.3m pa from all the users, which I think you'd agree is much bigger than $1.1m,
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