Ann: Investor Conference Call Details, page-4

Some comments:

• Negotiated long term deal with cloud vendor - expect reduction in COGS as they continue to scale
• New tiering/products launching in Q2, with more features rolling out in Q3 - expect ARPPC/ARPU to increase throughout the year
• These new products open up new channels/verticals for customer acquisition - which will further drive user growth

My overall summary of their current state:

• SaaS business with over AUD 100mm in ARR, growing >50% YoY
• Strong organic growth, such that they decided to spend less on customer acquisition - meaning more fuel for this year
• Self-sustaining, they are already cashflow positive if you exclude the discretionary spend on growth
• Quality execution and improving metrics and unit economics on pretty much all fronts
• Lots of upside in pricing and the new products, I think once the vision of an all-encompassing app finally comes to fruition - there will be an 'aha' moment