Are you referring to the acronym USP? That is an internal reference to their Upgrade and Support Program to upsell and convert existing customer cohorts onto their Nexus Cloud platform. Typical licensing/on-premise to cloud (SaaS) conversion I reckon.

@thunderhead thanks for that, so its a feeding ground to grow saas, that makes sense

i initially wrote USB which completely confused me.....lol...5th result tonight

Anytime. Reporting season is always hectic, especially if you have a day job. I missed what I would have considered a buying opportunity in OCL near the lows :)

It seems like the most private public company on the ASX. Very high insider ownership and the CEO power seems even more concentrated with the board member Gary Fisher resigning after 30 years. Does anyone know if he was one of the original founders? That comes after the COO reported he left last year, and I noticed the CMO Chris Britton on LinkedIn has announced he is with another company. Certainly very different to Technology One who communicate a clear management team.

I get the impression it is still a family/founder led company with some governance/IR/PR inadequacies compared to TNE which is very much conformed to the normal way of doing things - I believe OCL will get there.

Yes Garry Fisher has been selling for some time now also and still has 5m shares to sell if he wants to. He wouldn't be selling because he needs the money as he is extremely wealthy. Really not sure why they are listed and I wonder where the share price would be if the founder didn't own 65% of the business, as there are only so many shares on the market available to investors and the business is on an extremely high multiple for a business which hasn't shown exceptional growth over the year or two.

Why would they avoid questions about customer exposure I wonder. I am guessing a huge part of their business would be controlled by government/councils. This is a risk I would imagine as if councils found an alternative then the impact on Objective could be very significant. I would be interested if anyone knows who there main competitors are.

One also has to ask why they have suddenly decided to do investor presentations, when they have never done so in the past and have so much cash on their balance sheet. Tony Walls has never presented their results in all the time they have been listed.

@LifeCapital i actually believe TW has presented before. also i get the impression he is by nature quite dismissive and retail investors are ignored quite a bit as i am finding out. in terms of being ignored i think it is not great but i put a red line through MIN for that reason years ago, that backfired lol, so i think it is hit and miss, i would not draw too many conclusions ats. imo

It would have been a mistake to put a red line through OCL too :)

I'm glad they decided to become a public company, given the enormous return shareholders have enjoyed (myself included, though sadly my position size isn't particularly life changing!).