Ann: Commentary on June quarter, page-25

Thinking about these results, in particular the user numbers, did they do a pre-purchase deal with a large distributor for, say, 200,000 customers for an amount of cash for say 12, 24 or 36 months, then count these as paying users, regardless of if the users are using the solution or not. Just guessing, but how else do you onboard 200,000 users in 20 days? You can't do it organically. This is an attractive type of deal for a software vendor (collect the cash upfront, and announcements like this), but if they haven't gotten users to engage by the time the contract comes up for renewal they loose pricing power and possibly don't renew. JMT