Just picked up some more this morning. Before I did though, despite already going over previous reports, I wanted to look again to confirm my perceptions of where this stock is going.
Below snippet of ARR growth really says it all. There's been plenty of talk about the rate of growth slowing and the issues with different currency reporting however when you look at the fact that ARR grew by $18.8m (on constant currency) in a year which due to Covid undeniably slowed decisions being made on spending - this is pretty impressive.
We know there has been a couple of big signings recently including the gigantic apparel company with a multi-million/multi-year deal and also reports of Bluescope Steel which has 16,000 employees. Unsure if these contract would have been included in the above figures due to when signings took place however it is a sign that significant traction is being made. Would not surprise me to see more US government departments being signed as customers in addition to existing customers being Department of Defense and Department of State.
I see bare minimum true value sitting closer to 7-8x if not should be above 10x with continued strong ARR growth. With some behind the scenes issues now resolved, I don't see any reason why we won't see a SP of 50c over the next 6 months.
GLTAH
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