There was a big raise at 35c a few months back. The institutions...

There was a big raise at 35c a few months back. The institutions that wanted their fill were able to, as were existing holders in a under subscribed SPP. So without any shareholder promo work by management, those that wanted in have been able to.

Other side of this is acquisitions, and some may be wary of this - my view is they've done a good job integrating acquisitions in the past and will continue to do so to drive growth. Recent contract win includes a 'learning' component from the recent Zunos acquisition - good sign. Other acquisition opens up the manufacturing vertical a lot more imo too.

People may be concerned about churn - which changes the numbers/outlook for SaaS companies quite a lot. It's not something management talks much about at all, though they mention they expect it to be stable - stronger comments around this improving would be a very bullish sign imo. The contract extension from T-Mobile was very positive indication for me - others may think that's a concentration of revenue, though it is contracted for 3 years. The recent contract win out of Europe shows they're winning tenders.

Few thoughts why the SP isn't tracking higher.

The sales enablement market segment is growing rapidly however, so good tailwind. It's a new product category in some respects and the technology roadmap looks strong imo. I expect churn to decrease, but there's no confirmation of that just yet. ARR continues to grow strongly and revenue growth forecasts of 35-40% still maintained by management.