Ann: SaaS revenue accelerates to highest ever since Dec 2019, page-8

Yep that's fair enough, and a balanced debate and disagreement is better than everyone boasting the SP up, but I personally see this as an important step in the company transitioning out of the covid induced slow down and ensuring they keep the market informed. I'm also biased because I wrote to the company asking for more detail!

I do agree that on recent historic performance 12-18mnths the growth isn't amazing. However IMO if you took out covid impact it would be amazing, the Cardhero announcement alone represents a subscription revenue growth of 19%, and that's only 15% of LWoB - so quite literally the growth runway exists... I don't think we will see another Cardhero contract win in the next 6mnths, as others will want to be first follower after a successful rollout... But I do expect further contract wins after the end of the FY.

I see weight behind the 8CO strategy as it does not require significant additional capital and has significant operational leverage, much like PPH, neither get the limelight. However I am much more comfortable with my investment actually seeing a sustainable return - compared to other growth stocks in the industry with the hand out doing CR's every 9 months to fund said growth.