Dubber is the sole provider for call recording and data capture on the broad cloud platform.  650 telcos are offering BroadCloud platform to their business customers to move off legacy in house PABX software. It's estimated that  4 - 11% of the telco's business customers will make the switch in the next couple of years. So a huge tailwind supporting growth for years to come. 

Optus recently signed up to dubber through their business loop program, and have a total of 10 million subscribers across their network. Assuming business account for 1 million of these users they have a potential 0.4m - 1.11m customers who will make the switch. 

AT&T has implemented dubber and is currently rolling it out and they have 150 million users across their network.

Assuming that 300 telcos (at an average size of 1 million business users) push 4% of to switch on call recording on the BroadCloud platform, then the market opportunity is 300* 1m * 0.04 = 12m users.

12M * $5p/m * 12 = 720M p/a

After 2 years of selling and deploying the solution across Europe and the US, users a starting to grow at a rapid pace. Base on current growth trajectory of 30 - 50% in users over the next two qtrs we should see approx 115,000 - 150,000 users giving ARR of 10 - 12.5 m per year at $7 per user. At 10 times ARR the market cap will be around 100 to 125 million or a price of between 0.71 - 0.85 per share. Using the lower guidance we should be at 0.71 by end of this year fin year June.