@BoredSaint I will be looking forward to your review. I am considering starting a small position. The stand out short term flag for me was the point about costs rising at the similar rate as revenue (with not a lot of explanation apart form the usual increasing staff costs) and NPAT guidance reduced from 32 (equal to FY21) down to 25-30. So based on first half NPAT of 15.3 we are looking at a flat half at best and a 33% reduction at worse (hopefully). Reoccurring revenue, cash position and lack of debt is the part that has me interested especially as we enter a period of potential interest rate increase. However, NPAT over the last few years seems to be heading in one direction even as revenue increase. This report was a great example of why you read the results the whole way through. Had you just stopped at results without looking at the guidance your summary could have been completely different.