100xPE is bubbly for any tech imo. And you you cannot apply the same valuation methodology to NXL.
NXL is not pure play SaaS. it's big clients will like never use Nuix cloud sessions given what data the client has.
thus the big pivot on Neo and data protection (although this should be data identification given Nuix engine does not protect it reads what it is told to).
I am a fan of NXL tech however the true growth of new clients seems downplayed in the announcements
anyone can put up prices and cut some costs to achieve an improved top and bottom line.
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