Had to repost due to a typo referencing CVT, too many things...

Had to repost due to a typo referencing CVT, too many things going on this morning, excuse the error.
Waiting for the moderators to delete the old post.

I like the period on period visibility that is being announced and the 'bookings' measure give us an idea of what the new Macquarie Telecom contract will bring to the business by way of new revenue over the coming period.

I appreciate the company qualifying the booked revenue number in light of the recent cluster f$%ks on the market in the tech space. It will go a long way to building confidence in the numbers being reported / booked.

Blockchain, sounds interesting....tell me more....

Bookings In addition to revenue for each relevant period, the Company monitors ‘bookings’ as a measure of sales momentum. In 1HFY2018, the Company achieved bookings of $2.27M (there were nominal bookings in FY2017). Bookings represent the sum of all new deals signed in the relevant period, including the total value of new, expanded or renewed contracts or purchase orders under which customers are contractually obliged to pay for the Company’s software either on usual trading terms (i.e. upfront) or over a defined contract terms up to a three-year period. 2 It should be noted that:

‘Bookings’ is not a GAAP or IFRS defined term although is frequently used by software companies as an indicator of performance and momentum

The Company only includes subscriptions which are contractually committed to for a fixed term in its bookings figure and does not include trial or pilot customers, proofs of concept or month-to-month contracts (if any). It should be noted, however, that the contracts comprising bookings are subject to typical termination rights including for non-performance, breach or default – the Company has no knowledge of any current circumstances which would give rise to these rights of termination

The renegotiation of the higher per-user rates with a major reseller over the next three years accounted for approximately $1.4M of the bookings for the period. This sum represents the increase in the incremental user-based charges that will be due to the Company as a result of the renegotiation in respect of contracted licenses over the three-year term of the reseller agreement Covata

Managing Director and CEO Mr Ted Pretty said, “The momentum we have achieved on pipeline, billings and cash demonstrates our turnaround is well underway and our products are competitive and valued. The CipherPoint acquisition has contributed to this improved outcome. Our refreshed team is performing very well. Our expenses are being controlled. These positive results deliver on the objectives we outlined at the AGM. We are building a sustainable business market by market and customer by customer”.

Now that the half yearly is out of the way, I think we may start to see some more news flow come our way. It would be good for Ted to hit the road and re-introduce the CVT story to a number of broker / insto relationships that have an interest in this space, now that the ship has turned and the revenue is on the increase.