Ann: Appendix 4C - 131% growth in ARR and record cash receipts, page-49

I 100% agree with your post in its entirety. I am quite certain the way they have treated these items is within accepted conventions and am not suggesting they are not. Probably the most sensible post on LVT I have seen. The key with LVT has always been to look behind the headline number. I've seen spikes like this morning ad nauseaum when their headline numbers are released to HC posts of "boom" only to see the pullback within hours (or less) as the devil in the detail is revealed to those who look a little harder.