Ann: Enterprise Sales Update, page-68

I don't think IO is disingenuous at all rather he has been caught out in cash flow expectations in the way he communicated or expected it would happen.
the fact the Large US Co's are not only slow payers but also may have created false expectations of tech take up after getting cheap or zero cost trials.

as a result the ACV has failed to mature at the rate the market may have expected and potentially rightly so with the very positive communications to market that IO has espoused. IO has, I believe, now understood this and hence the more to ARR and more or less starting from a lower base than the market has expected. This is imo, symptomatic a less experienced CEO. Easy for us arm chair critics to throw darts from the anonymity of a HC profile.

I strongly believe there is huge upside in the technology but, like all new tech, early adoption is slow and momentum can take longer than a fledgling company and new CEO would have us believe. perhaps the Australian new partnership will change that trajectory while the US take a bit longer to get to net +ve.

Still, anyone thinking IO is running a lifestyle Co or not genuinely believing in the outcomes of the Co are likely talking through their own $$ account rather than the very real effort the Exec and staff are driving towards. end rant !!