Great trading update from the NEA team, well done management and...

Great trading update from the NEA team, well done management and staff. 

Sales were around the $10m ACV mark that I had been hoping for, with great progress in the US. 

Nice open above $1.70, let's hope it tracks back towards the $2 level. 

One comment I would make to follow on from yesterday, I am still not sure the market truly understands how big the US opportunity is. Let's forget about Canada for a second as it is to early to include in any calcs, BUT if we get to the same number of customers in the US that we have in Aus (8,000+) and we take the midpoint between the Aus and US ARPS (to allow for US growth in SME, which may reduce ARPS for that market), then ACV in the US alone would be about $98m. Given our costs in the US wouldn't be much more than $20m, the free cash flow from this market alone, combined with Australia would be eye watering!