There is clearly a huge market opportunity - mainly in the US...

There is clearly a huge market opportunity - mainly in the US Market. But, the company has demonstrated the execution and business model risk around contracting and business model revenue recognition. I believe they need to be more transparent around revenue - the reference to reporting ARR rather than ACV is a nod to this. If they can deliver new contract wins and show net dollar retention in excess of 100% due to increased utilization during FY24 the stock price is a no brainer growth opportunity, if not - it is basically dead due to cost concerns already laid out. For long time shareholders the original premise is still intact - but if FY24 is not a 'big year' in terms of growth the shareholder base will erode and speculators will manipulate the price around the left over carcass. dyor.