Ann: Appendix 4C - quarterly, page-54

Pointerra made it clear that the Dec 17 revenue included a significant amount of up-front payments for trial subscriptions, and thus should not be directly compared to later results. This is precisely the reason that they're moving to ACV as the most important financial metric.

The beauty of the subscription model is that barring cancellations, even if they make no new sales or contract expansions in a period, revenue continues.

As much as we'd all like to see faster apparent progress, the fact is that this is a tiny unknown startup selling to mostly large conservative organisations such as utilities that won't jump on board without exhaustive evaluation and testing. Now that there are a few on board, future sales using these early adopters as references should become easier. If the product is good, there no reason these early sales can't turn into an avalanche of new and expanded subscriptions.

I'm content to be patient for a bit longer yet.