Hi Kev, I'm genuinely here for a discussion not an argument, but...

Hi Kev, I'm genuinely here for a discussion not an argument, but it is worrying that post got multiple likes and lightbulbs as almost every point you make looks to be incorrect, I'm afraid:

1. As others have clearly outlined (and all should have learned by now), ACV is just an estimated figure of annual spending, it's not a reliable metric. Do you think the auditors are specifically signing off on that figure...? No, they sign off on the P&L accounts.
2. I think you have your currencies around the wrong way. It's US$20M which equals A$29M (happy to round up to A$30M if you like)
3. Huh? 3 x $35 = $105M, per my earlier comment to you, not $115M.
4. I have shown my figures and assumptions for 8-9x ARR very clearly in my post. You're trying to suggest ACV = ARR and therefore it's trading on 3x.
5. Again, I was factoring in 50% growth half on half. I'm not saying they won't grow.

Cheers