Ann: New Microsoft co-sell agreement and Q1 record deal, page-108

Reporting on a constant currency basis is entirely the correct thing to do in my opinion, it’s just the timing of the switch that made it ludicrous.

They reported ARR number with the benefit of the AUD/EUR and AUD/USD fall to ~10yr lows, then when FX reverted, they chose to keep this FX outlier as the peg for their constant ccy reporting.

It seemed like Karl was trying to pull a swifty, and the market agreed.

Bottom line, LVT will restore credibility and market favour with results, not words from here on in...