Seeking Thoughts on Recent Reports, page-6

Some interesting observations. A couple of points;
- The model has pivoted from hardware to pure SaaS, the comments RE. changes in revenue reflect (somewhat easier to book hardware revenue for high unit cost sales vs recurring SaaS revenue), also changes COGS in a favourable way.
- CEO salary - it's clear that Saurabh has finally done the right thing and righted the ship, if the recent result is setting any direction IMO it is positive. Whilst the SP has come down as you say, it is relatively thin trading.
- Valuation - there are tech plays with SaaS revenue like LVT that are trading on 10x revenue with no challenges, this would be trading on 4x the current SP if it can maintain growth trajectory. On the basis they can mainain this, capital will flow to it.
- Your market remuneration data whilst insightful is bogus... the average CEO of an Australian company is not being paid $160k. The average smart developer is being paid $160k. This number would likely be far closer to $250-300k, and that's overlaying an SME filter, no public listing etc.

Let's see where it goes.