Ann: Update on Software sales & expected FY2024 Result, page-15

Re "MISSED EXPECTATIONS", I don't agree, due to my underlining below.
The Ann says:
"The lower than forecasted profitability is due to reduced perpetual license
sales and the timing of subscription licenses signed during the second half of FY2024.
Given the Company’s strategy and preference to sign subscription license sales (that deliver stable and
predictable recurring revenue reported over multiple financial years) over one off perpetual license sales (which
are fully reported as revenue in the financial year they are sold), the Company was comfortable seeing
perpetual license revenue reduce by $1.6 million year on year at the expense of an increase in subscription
license sales.
Reported subscription license revenue has risen strongly in FY2024 to $45.6 million (FY2023: $39.3 million),
however it is worth noting that the value of subscription license revenue reported within the financial year is
directly related to the timing of when that contract is signed during the financial year. The majority of software
subscription licenses sold during the second half of FY2024 were concluded in the last month of the year. This
timing profile has seen $1 million of expected subscription revenue move from being recognised in FY2024 to
future reporting years.