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Ann: $752k contract to onboard first 14 entities on to GovERP, page-8

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  1. 237 Posts.
    lightbulb Created with Sketch. 97
    Yes - some pretty useful messaging:
    Agencies
    Contract is for a minimum of 63 agencies, with another 78 having the right to opt-in.
    Minimum user numbers 110k, no mention of max but perhaps work off 170k

    Implementation
    $50k minimum per agency, up to $500k for large/complex agencies
    So minimum service revenue over FY22 and FY23 will be 63 x $50k = $3.2m
    With some of the agencies more complex and some opt-in's, probably >$4.0m

    SaaS
    Assuming $42 ARPU for government users (closer to $53 pre-COVID), the minimum recurring revenue will be $4.6m ($42 * 110k)
    ARR at December was $2.8m, albeit impacted by lower COVID spend (normalised closer to ~$4.1m - 171k * $24)
    So underlying ARR at some stage in FY23 ~$8.7m with clear upside.

    Should be enough to more than break even
 
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