Ann: Half Year Results Announcement, page-22

Totally agree with all positive sentiments above.

IF, and it’s always an if - they can keep growing revenues at this pace this is one has all the hallmarks of a unicorn ($bill company) - 10 million users could be all it takes to do that - and quite possible, it’s not really a big number here.

Though I don’t fully understand the market for SMB email/exchange backup and competitive landscape (except Veeam - which is quite closely related to the company I work for, people have left us to work for Veeam - and a much more high end solution for mid market and enterprise and much broader) , what I can tell you 100% is that a massive amount of businesses are moving to Office 365 and cloud storage - it is one of the hottest trends in IT right now and would involve many millions of businesses right now and 100s of millions of people - they are working in a massive growth area.

Part of that for those not aware is a move from “exchange” on prem email servers to cloud hosted storage from multiple locations with cloud Outlook - it is a different model that introduces cloud complexity as with a lot of businesses you can end up effectively splitting the storage and placement of databases etc. to multiple locations in the cloud and opens up the obvious security and disaster recovery issues for IT.

There are many larger businesses that just wouldn’t use Dropsuite and other who would not store in a company like the Phillipines due to data soverignty issues having to have email severs in Australia or other developed nations - but many smaller ones would if they don’t hold highly confidential information (ie not Hillary Clinton lol) especially at this price point - it’s really cheap for this type of service - $12 per user per year. Once they expand there is nothing stopping them launcing a premium service with backup servers in Australia or wherever the case may be.

I really like the potential of this business, I hope they can keep it going while in the sweet spot to speak.