I'm with you Mikebrisy.  I held ELO in my SMSF for a couple of years and recently sold out with a modest gain.  Who knows, they might be able to get it right but they have a massive sales task ahead in a highly competitive environment and in a market that is slightly loathe to pay for HR platforms in my experience.  It's not an easy sale and at this stage as you point out it's all about getting more growth and they havent proven their ability to make those sales.  I worry that ELO is getting itself stuck in the middle - not really big and scalable enough to compete with the Workdays etc in the large enterpise space but too big and sophiticated for the SME market.  Increasingly I dont see a pathway to significant scale for them