as you noted one of the ‘problems’ is that the evs sales are...

as you noted one of the ‘problems’ is that the evs sales are split into software and hardware but not ksplit in the financials. This is why the gm is low. 

But if we look at just the software which is what the arr refers to and completely ignore the hardware (or treat it as cream on the top/sales marketing technique) then we can value the company as an saas. 

The old odotech customers do have software for their enoses so they don’t have to migrate to evs. Evs offers a better offering. 

I dont think the company are being overly promotional. If anything by essentially ignoring hardware sales like those to Kuwait they are actually being conservative. 

why do you say the founder wants to move on? Robin stepped down from the board as he doesn’t have any real experience with a software company which is peter’s Focus. 
Id be surprised to see robin selling any shares this year but I could be wrong. 

i think it’s good to have high expectations for management but I personally think they are communicating very well. 

maybe it’s worth getting in touch with peter if there are specific areas you don’t understand or don’t think they are communicating well.