Ann: Revenue Guidance for Q4 2019, page-23

This is a great spec if they can keep the growth on this trajectory.
They've tripled ARR in this calendar year. Even if guidance is slightly out it will still be 2.5x.
I think it's valued reasonably fairly for its revenue NOW, but it's not factoring in this level of potential future growth.

SaaS businesses are valued really strangely compared to the rest of the market and are a multiple of revenue rather than profit. I'm also interested in the outgoings but I hope no one is expecting profit yet.

Cheers
Steve