Hi, SaaS revenue can only be realised over time as seen in other...

Hi, SaaS revenue can only be realised over time as seen in other major tech company which made the move over the last 5-10 years.
Just name a few here,
Splunk
Adobe
Auto-Desk
Microsoft
the list can go on
all migrated from perpetual licensing to SaaS and experienced short-term revenue impact (the migration process is expensive).

SaaS might seem to be cheaper, but it really depends on how the pricing sets up, it can be charged in a lot of different aspects, the amount of data processed, stored, copied, etc....
SaaS provides flexibility in execution, faster deploy, real time updates and can be accessed anywhere (ofter need in COVID time as no access to office), where on-prem software often need a technician and downtime to update.
However, not all clients are willing to migrate to SaaS for example government entities where they often hosts data in-house for privacy purpose and clients with established IT infrastructures.

If you look around, everything you use now is pretty much SaaS, Spotify, Netflix, YouTube, none of those cost money when you install it. It's a trend and IMO it's evitable that Nuix will be a SaaS (which it already is for Nuix Discover, not for the Nuix Engine which is semi-SaaS as yet)