Q3 FY24 update out today: https://announcements.asx.com.au/asxpdf/20240501/pdf/0633gd1b1ddhy2.pdf

• ARR up 11% on the previous quarter. (more on this later)
• Reiterated cashflow positive for the financial year. There might be a slight upgrade here as the previously guidance was "operating cashflow" positive. The difference is ~$400k of rent.
• Pipeline meaningfully higher than the numbers mentioned in the previous quarter.

The partnership with Devo announced in late January, has expanded the recurring revenue for Snare by 20% in the space of a few months, and has the potential to add to this significantly. Prophecy has clearly found a great fit here. There is clear upside if the company can establish similar partnerships in the future.

A blemish on this update, is the injection of the word "Contracted" in front "ARR". Sounds like the Devo customers are still in the process of being migrated, but management wanted to pump the ARR metric. I don't know why they wanted to bring forward good news by one quarter at the expense of eroding the trust of investors (however small).