Hey kevg91, just wanted to say thanks for posting that. Although...

Hey kevg91, just wanted to say thanks for posting that. Although I am of a more bullish view and happy to hold, I still find it helpful to read well thought out alternative views.

The thought that they won't sign a PG&E every month is totally valid. OTOH, they are also ramping headcount, and the more clients you get on board the more credibility you have with future clients.

The comparison with Nearmap is also interesting. 3DP do seem to be following the same pattern of ramping headcount with sales and there will always be kind of a staircase effect (hiring -> costs -> ACV -> hiring). It is a logical way to do things though, as long as it's managed within available cash which both companies have a good history of doing.

I'm putting quite a lot of faith into the 3DP team, and also the HotCopper team who have highlighted so much of the activity going on behind the scenes via LinkedIn posts, YouTube videos etc.