Doing some back of the envelope calculations and I don't think...

Doing some back of the envelope calculations and I don't think the potential of the BHA acquisition has been fully priced in

The current conversion rate from being "Shown a video" to "Subscribed" is around 30% according to the presentations and the data been provided so far

Let's assume they hold at 30% moving forward - which is conservative given auto-gen is meant to help conversion

There's 14K customers (11.2K shown a video and 3.8K in production), plus another 36K from BHA in the pipeline

If they converted 30% of them to subscribers, that means another 15.3K of subscribers.

Based on ARPU of $5K as per FY17Q3, that's $76.5M annualised contract value (ACV). Even conservative APRU of $2.5K means it's $38.3M ACV.

The current ACV as Q3 is ~$15M

Even assuming it takes 12 months to convert the entire pipeline, that's nearly 4x the current ACV in 12 months with no further growth

Massive potential here