Ann: Quarterly Activities Report and Appendix 4C, page-28

Well that all might sound like you know what your talking about i guess. However the market price at 80c was allowing for a disappointing outcome like you have just outlined. But the market is looking at below main points.

Key Highlights • Record quarterly revenue of $9.1 million, up 75% on prior corresponding period (PCP). • Strong quarter-on-quarter revenue growth, increasing by 32% from Q3 to Q4. • Record operating cash receipts of $10 million for the Quarter, up 80% on PCP. • Continued growth in recurring revenues, with ARR reaching $35 million at 30 June, up 65% on PCP. • Operating leverage drives continued Gross Margin expansion, which reached 78.4% for FY21. • Record EBITDA Margin of 30% achieved in Q4, further showing the attractive unit economics of the business model. • New AUD$20 million debt facility with San Francisco Bay Area-based Partners for Growth VI, L.P. (PFG) provides enhanced financial flexibility for growth. • 55 new clients acquired during Q4, taking new clients to 157 for FY21 and total clients to 724. • Vault acquisition synergies completed at $6.2 million, significantly outperforming the original target of $4 million. • Active user numbers increased by 74% to 737,000, up from 423,000 in PCP, driven by deepening client relationships.

That's why the price stacked on 22% yesterday and maybe further upward rerate today. Like Christian said multiple large contract wins in the pipeline. The market is probably thinking (with the reopening of economies and stimulus infrastructure spend) 40mil revenue for 21/22 fy year.

* Right space
* Right time
* Right price

Its a buy IMO.

GLTAH.