Yup. Don't forget 90% of revenue is recurring in nature so every year as revenue grows, the annuity component grows too. Based on my calcs I get $15.3 mil in recurring revenue for FY18 and $19 -$20mil in recurring for FY19 based on current contracts. Might be higher as they get more contracts,. This alone should take the company to profitability and new contracts are icing on the top. Don't forget the VOD acquisition expands our footprint into South Pacific too. No brainer this one - buy on dips and easy hold for next 12- 24 months
Ann: Appendix 4C - quarterly, page-24
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