agree that you can't look at revenues alone given software revenues are now reflected as an agent so the 2021 vs 2022 top line is not a like for like comparison
what does reflect the growth is the gross profit change although that has not necessarily translated into NPAT growth, but that was partly a result of onboarding new businesses that were not all profitable (to start with) and also the fact that interest rates have increase and the way they manage working capital is now a lot more costly than it was 3-4 years ago (and they had that free since ~GFC days)
agree that you can't look at revenues alone given software...
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