I think we both missed something Soccer. I only had a look at their first announcement and the 28% increase in revenue was a bit underwhelming.
However, if you look at their Results Presentation it paints a brighter picture.
•Platform SaaS customers +157.8%
•Total unique registered users +63.4%
•Total unique registered users +61.7%
From my notes: "therefore new clients start at a low rate with the expectation that fees will increase in line with usage."
So new client/customers have grown strongly but this may not show up as $ until their usage increases over time.
“Annualised recurring SaaS revenue is calculated by… multiplying the monthly accrued SaaS revenue in the month at the end of the quarter by 12 (months).”
•Platform SaaS ARR +71.4%
Is the 71.4% a leading indicator of future growth vs 28% (a lagging indicator)?
Have a look at page 11 of their Results Presentation:
71% yoy growth in ARR
TLDR: I think the reported 28% revenue growth is a lagging indicator and the above numbers paint a better picture of future growth numbers (leading indicator). I'd love to hear what others think.