Ann: FY22 Q3 Quarterly Activities Report and Appendix 4C, page-10

As expected the ARR number impacted by FX, but excluding that, ARR growth was almost non existant

Positive:
- retention rate has improved (hopefully we are getting to tail of covid customers no longer renewing, and as I've suspected for some time, the customers for their initial product linked to MS no longer seeing any value in that)
- net customer count has increased

Negative
- still cashflow negative
- ARR per customer has actually dropped from Dec21 and that combined with them not reporting LTV points to them perhaps losing a decent sized customer
- I'm hearing a lot about cost effeciencies etc (which is a good thing), but less on pipeline & traction with the reach product

Not clear if they have included anything in these numbers from Human Link (if they did include that 2.1m in revenues, that would really be pretty poor) - perhaps someone can ask on the call along with how the market is reacting to Reach (easy/hard to sell, pipeline etc)