These guys are so long-term focused it is frustrating - pumping all their cash generation (and more) in to R&D and S&M but the Australian investor market is short term focused.
Key points:
1. 100% renewal rate on their Enterprise customers
2. A doubling of users over 12-months - many of the Enterprise agreements in the US are user-based
3. "Annuity-style" revenue from Enterprise agreements
4. "Orders of magnitude" (i.e. 100 times) more data on their platform than any of their competitors
Their offering is clearly addictive to their customers and will end up generating rivers of cash and dividends to their shareholders in the medium to long term. Unfortunately the ASX has reacted in the predictable short-term focused way that it always does. I wish they had more of a revenue multiple approach that the US market has.
Still frustrated,
Mo
DYOR
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