Ann: Quarterly Business Update for Q2 FY23, page-2

I think many will consider that result disappointing. That is their lowest QoQ ARR growth since their largest website backup partner migrated users to their own platform back in Q2 FY19 (note their FY = CY). Also their lowest operating cashflow since Q1 FY22, which would be $200k if not for interest on the cash they raised nearly 2 years ago now, which it seems they didn't need, at 21c. Charif has stated that they plan to run the business at breakeven and use profit to invest in the business, but I thought given they were cash positive last quarter, in their historically weak Q1, that this quarter would be significantly stronger. No evidence of the QuickBooks backup product impacting ARPU yet and certainly no evidence of the increased spend on marketing paying off, yet.