2021 AR "Partner Margin:a cohort of partners acquiredthrough the...

2021 AR
"Partner Margin:a cohort of partners acquired
through the Group acquisitions historically had
their gross contracted amounts reported in ARR,
whilst accounting revenue was reported as net of
partner discount margins, this has created approx.
$1.8m of the ARR and Revenue variance. This was
corrected over the last two quarters of FY21 and
will remain reported in the ARR value as ‘net’ of
partner discount margin, which is in line with rest
of the Group’s ARR recognition policy."

2022 AR
"Partner Margin: a cohort of partners acquired through the Group acquisitions historically had their gross
contracted amounts reported in ARR, whilst accounting revenue was reported as net of partner discount
margins, this has contributed approx. $1.1m of the ARR and Revenue variance."

... and they wonder why no one takes LVT seriously anymore.