Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-83

I tend to agree with this comment (obviously won't cross promote). I think in general the lack of cash versus 'ARR, ACV, CARR, or whatever you want to use' will be looked at more closely. If you think about it more generally, 3DP, should have bargaining power given the lack of direct competitors.

The ARR multiple at current prices is still on the high side for 3DP (versus peers) but it rightfully should be given the consistent growth that's being delivered.

Overall the stock is on the undervalued side despite some of the comments I/others have made.