The annual report is really good IMO. Everyone should read the...

The annual report is really good IMO. Everyone should read the entire report (particularly the strategic review and financial breakdown) in detail to understand where this business is at and where it is heading. It shows that they're on the right track to becoming an amazing cash flow positive SaaS company with $100M+ ARR which in turn will mean an uptick in SP when the market can see the company's value too.

Their products are extremely sticky and their main issues to date have been to do with:
1. Being too bloated and not cashflow positive (nearly there - cashflow positive this/next qtr)
3. Overpromising and under-delivering from Karl (being addressed - the annual report was factual with no fluff)
4. Method to market (being addressed - strategic review explains where they are heading)
5. Being over-reliant on Microsoft (being addressed - Reach has shown massive potential)
6. No/slow growth (being addressed - Mobile (Reach) licences +1211%)

Other than the 6 issues above, there have been no other reasons which critics have given to justify the current 2x ARR valuation.

I honestly think this is the turning point for LVT, been a long time holder and I am extremely positive/bullish.