Agree that transparency is needed on churn.
However, in the investor call I think they mentioned approx. 85% customer retention rate (other investors on the call please correct me if I'm wrong).
They are not spending much on maintaining legacy software. They have a few customers they are maintaining . You can ignore this business as it is not material.
Good question on Revenues. I recommend reading the past few years reports to get a better understanding if you haven't done so already. Quick history on Revenues for the past few years:
- Snare was the major driver of revenues in the past. Perpetual license model. This business had a dip in revenues but now has stabilized and hopefully FY22 1Q quarter started the growth trend again
- Purchased eMite a few years ago and is ARR based which has been growing rapidly i.e. ARR goes from 1m in FY18 to 10.2m FY22 YTD. So you should see Revenues now growing in step with ARR
Ann: Trading Halt, page-23
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