Can anyone enlighten me as to how there can be such significant downgrades when such a high proportion of revenue is supposed to be recurring in nature? I would have thought that a high proportion of recurring revenue means that revenue is quite stable over time (in the absence of contracts not being renewed). Does such a large downgrade mean a number of contracts over the last 6 months that were up for renewal were not renewed (and not replaced by new contracts given COVID pushing out the sales cycle?)
Ann: Market Update - Continuous Disclosure, page-14
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