I don't hold ALC, but I note 51 Strawpeople do, and ALC has previously been quite a followed company, so am slightly surprised by the lack of commentary.

It seemed like a reasonable result today. Not superb, but they have tipped into profitability.

As a lazy way of assessing its investment case, I ran a "rule of 40" which has improved significantly but still only scores ~22%.

valuation ratios are a bit mixed:

P/E ratio of 97.4

EV/EBITDA multiple of 28.1

EV/Revenue multiple of 3.5 

ASX:ALC could get interesting once again if they continue to win contracts. It would be helpful to know LTV:CAC and NRR but these arent reported. Any thoughts from others?

I'm not sure why but I can't seem to attach screenshots or pdf files currently so the link to the full report is here:

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02984961-3A674741&v=c2533a54e2514fb77a8f93f84db686e1125273e9