Their existing customers are predominantly SaaS based, and...

Their existing customers are predominantly SaaS based, and penetration/revenues are growing. A lot of work was won recently which is also yet to add to revenues and then receipts. So there's a lot of latency between contract wins and receipts which the market doesn't understand.

In 2017 they didn't really have a commercial product line.  It's a very different situation to now. The market will catch on when the receipts come through. I expect a decent ramp up in June and again in September.