I've bought more at $1.87 this morning.Conference call revealed...

I've bought more at $1.87 this morning.

Conference call revealed the 4 negative events in the US had combined impact of AU$6.9m. Add that to the reported growth in ACV of $6.4m and total growth was actually $13.3m which is higher than 2H19 of ~$12m.

Of the 4, I believe one of the losses was our partnership with Geomni which Verisk just sold Vexcel, 2 are related to automous driving and the last was an anticipated partnership that sounds like it hasn't closed, and whose scope was signficantly reduced. Importantly, none were lost to competitors. i.e. not a great outcome but overall US sales is doing well.

AU weakness (+$3.1m ACV vs historical average of +~$4.5m ACV each half) was due to internal execution issues which is being corrected.

Hence I'm still bullish on the business overall and I think the market will overreact in the short term, presenting a buying opportunity.