I think it will rise at some point. Still a solid business with...

I think it will rise at some point. Still a solid business with organic revenue growth. They increased marketing, sales and development spend which sets them up for the future.

They've also now got a much better SaaS billing model rather than pre-paid credits. Don't underestimate how much better this is. I've done a similar transition and it means billing can be better automated, freeing up dev/admin time. Customers will also love it. Easier to monitor and approve a regular spend which is seen as another expense like other IT SaaS, rather than monitoring credits usage and talking to AMs about how much credit to buy. Makes it easier for CIOs/CFOs to approve, just BAU spend. Easier to sell too. Win win.

Will think about buying more at these levels, I believe it's good value.