Ann: 1st Half FY19 Results Announcement, page-97

thanks big tuna very insightful

so let's call it 25x revenue based on 85 cents target with VMKs 720 million shares on issue be generous 600m cap strip off say 20m cash to get to an EV of 580

and cash flow break even say

looks a little expensive but I don't have the unique almost insider like insight that VMK does...should work i investor relations or maybe they do


I also suspect that when management talk about ARR it is a gross number and not a net number before they pay away their partner network

but I remain open minded