PRO (ASX) Ann: Prophecy Investor Webinar 15 Oct 2pm AEDT

Originally posted by 10XMinimum: ↑

"Global Domination" was a good answer regarding Market Cap Goals. I only asked that question because he mentioned "market cap goals" in his answer to another question.

It was really great to see Brad speak. I believe what he says. He seems like a no-nonsense guy, and I love that the company strategy is "profitable growth." It is quite the contrast to the implied strategy of most growing tech companies in the US and China, "growth at any cost via debt and dilution."

Here's a few notes I took:

--Humana 25,000 seats; typical eMite deal 500-5,000
--FYI 22 Pipeline 13m eMite; 20m Snare
--Snare will likely not become SaaS due to nature of product; customers want it behind firewall; it may be "hosted" on cloud; also not cost effective to put on cloud because of the massive amount of data
--Sales staff leading with Snare Central, which has a deal size of $78,000 (not sure exactly how this works out with 3x average increase in deal size but going from Snare deals of $10k to $78k is obviously exponential)
--Cyber Security has a few giants at top and then huge amount of diversified/fragmented competition and overlap; a lot of competition (I have an email from Brad re this top if anyone wants me to forward it to them, just message me)
--Retention rates (I think for Snare and eMite, not sure of both) 85% -- this is driven and supported by updates/responding to customers needs and support
--Acquisitions: They are very specifically not looking to build anything from scratch but only looking to add to the existing products something that would fit in to the product and the customers
--Headcount: 85
R&D: 60% of costs; 80% of total costs is people
Headcount increase?: Sales and Marketing is where they are looking for; very much a balancing act re new effectiveness of additional staff costs
Competition for eMite: Seemingly very little at Amazon; a couple in Genesys, but eMIte leader (both have weak BMI standards that are only good enough for small customers)
Snare profitable usually but lost money because of one big customer last year

Snare sales were very much effected by US politics and effect on governmental spending due to budget, but it sounds like PRO is ramping up and Snare is about to pop, especially given Snare Central (my take, implied, not said)

Big picture: They are very much focused on maximizing upsells in existing eco systems. eMite with Genesys 70% of sales; Amazon is growing fast; With regard to Snare, the primary focus is getting Snare customers into Snare Central. Snare is 50/50 channel sales and eMite nearly 100% channel sales.

There were a few questions about time it takes to unboard eMite customers (largely depends on whether they are on cloud; can be a year or nearly instantaneous ??) and about revenue recognition of Snare (primarily perpetual license) v. eMite primarily subscription. Not 100% clear on this, but didn't get the shady accounting vibe. (I presume Institutional Investors wanting to get their models right?) Will re-listen if available.

Overall--I'm no expert but I don't think I've ever listened to a non-promotional investor call that was clearer and more sensible and straight-up. Exactly what I wanted to hear.

Let the re-rating continue ....

END

p.s new partnership with NWR (?) will be getting the word out to investors more via webinar etc

Expand

Hi 10X, just looking through your great post again.
Where do you get the average deal size of snare being 78k currently?

I recognise the 10-11k as this was quoted for FY20 figures i.e. 624 deals at 11k per deal equates to the 6.8m (per there announcement on 9th July 2020). In the latest investor presentation, they say average snare size has tripled. I can't find any reference in the FY21 year where the deal size for snare is approx 30k?

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