Ann: FY18 Earnings Presentation, page-4

Ev to ebitda still pretty healthy, but with growth forthcoming it would be fine.

Lot to like here, but I can’t help but compare it to the old Photon ( which soared then crashed ) which struggles on as enero now I think. Perhaps photon could have slipped up in giving enough equity to key people, but it was a big acquisition spree also!

Earn outs and key man/ woman risk bit them there....this mob are in more than advertising though I do know