XOS (Now Catapult Vision) has ability to outperform given the business has:

1. Previously been contained to the US. This is due to the aquisition of XOS and the US being its home and sole market.

2. CAT has now upgraded the product, integrated into wearable offering, and unleashed to global sales team. Higher proportion of new sales and renewals now incorporating Vision.

This is no small division, just over $40m revenue contribution (mostly USD) and is growing from single digits annually to mid teens %. Could be potential for 3-5 years of 20%+ annual growth as part of integrated product stack.

Last couple of years company has delivered on forecast, despite a revolving door of management. 

The focus on owning the tech stack raised some big flags with aquisitions and subsequent capital raises, but is now demonstrating value. Catapult Vision delivers substantial revenue and provides a cross sell opportunity to existing pro clients across the world.

Cashflow positivity and the drive to profitablity has been a clearly communicated this past 12 months, and there is little to suggest that they wont achieve this by their own set target of FY21.