How is the CARR $4m+ and the overall software revenue is $2.5m? A growth in revenue from $2.7m in 2017 to $3m in 2018 doesn't appear to be in line with the massive growth in the overall market for HSE software - additionally revenue in Vault's home turf (NZ) has gone backwards from $2.07 in 2017 to $1.96m in 2018. Other companies in this market (non listed companies like SafetyCulture, DoneSafe, ecoPortal, SHE Software, Impac etc.) are absolutely killing it from what I hear anecdotally.
There has been a significant increase in the share price over the last few weeks but I'm not sure it is substantiated based on this annual report. What am I missing?
