Assuming the service is high quality, appropriately priced (for...

Assuming the service is high quality, appropriately priced (for practice margins) with high customer retention who are increasing their scope of work that should be suffice.

After reviewing the financials the number of processes between q1 and q2 have only marginally increased 3000 to 3150 ish with markedly increased cash receipts (no accrued revenue for q1 for comparison). Presumably this represents either increased complexity of work (i.e. higher paying) or adjustment of integers margins (new clients are not on foundation rates etc).

The sp will do what it will until direction from the market is given via an ann or from those in the fp industry either adopting / increasing scope or not (which initially it seems takes a few weeks). Assuming the Goodwin interview holds true holders should be pleasantly surprised.

Agree though, the mc at 60-100mc at that stage was too lofty for the revenue figures.

Just my 2 cents