Wow... I thought something was fishy.. that is pretty bad.
"Reinstatement of Contracted Annualised Recurring Revenue (CARR) Results
As Vault has transitioned to a SaaS business some processes and systems have been lagging. As a result, the calculation of Contracted Annualised Recurring Revenue (CARR) has been incorrectly calculated.
The company acknowledges the significance of this error given CARR is a key metric in determining the company’s performance and valuation. The mis-statement was detected as the measurement function was being transferred to the finance team in preparation for implementation of Zuora, the leading SaaS billing and forecasting application which is being implemented now and will be fully in use for Q2 FY19 reporting. "
