Ann: Appendix 4C - 272% YoY growth delivers $18.6m ARR, page-7

I like the statement "LiveTiles generated customer receipts of $2.4 million in the September 2018 quarter, up 126% on theSeptember 2017 quarter. As the Company’s average customer size continues to increase, a higherproportion of customers are electing to pay their subscriptions on a month-to-month or quarterly"

Also the "Average ARR per customer continued to trend higher in the September quarter, up 167% over the last 12months, driven by strong new enterprise customer growth and increased penetration of existingcustomers via the Company’s ‘land & expand’ growth strategy"

Expenses were less than expected and there were no blow outs.

Obviously there will be more cap raises in the future but the ARR growth and the above is making LVT look like a compelling investment case over the medium term.