Good discussion, I'm enjoying the analysis of their...

Good discussion, I'm enjoying the analysis of their business model and comparisons to other companies. I'm just not convinced LVT's core business is a pure SaaS vendor business model.

It's not their own product that they have developed from scratch, it's leveraging Microsoft's ecosystem and packaging it up with a subscription service, but fundamentally their platform and partner model aren't the same as a pure software vendor that's expanded their sales and delivery process with partners. which is why I don't think it's reasonable to include their in the SaaS vendor category.