Run rates are a point in time, annualised. i.e. they are saying...

Run rates are a point in time, annualised. i.e. they are saying that for the past month they have done roughly $28m/12 ($2.33m) worth of revenue.

It doesn't mean that for the months of July - October they also did $2.3m/month. Those months would be less than the Nov/Dec month run rate since subscription revenue is growing.

That's why H1 would not be $14m, the sum of period July - December would be sum of 6 months, the largest of which is $2.33m.

The good news is if the first 6 months show ~20% growth and we can continue that momentum then we should finish FY16 with around $28m revenue (based on FY15 revenue of $23.1m).

The bad news is that there's going to be a bunch of shareholders who don't understand the math and wonder why FY16 ends with the same revenue we "had" in December 2015. We would be better off without the run rate number out there, except that since the guidance had been put out there years ago and shareholders are panning them about transparency, they're forced to go with it.