Sounds like it’s not just me who got a bit of a surprise there with their incentive structure.
I rationalised in my mind that if it was $3m of bonuses to the sales team to bring in additional ARR of day $6m, then I guess that is ok as we’ll benefit from $6m in FY24, $6m in FY25, into the future.
Then again, I am always making excuses for other people. Perhaps it is better if I wrote in to the company’s investor relations for a ‘please explain’ on this particular puzzle, and hear from management instead of trying to justify that big payment.
Ann: Update on Software sales & expected EBITDA (FY2023), page-13
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