Discord Livestream note 2: SaaS recurring revenuesThere was some discussion on SasS recurring revenues and Cameron is correct on saying that Doug needs to provide more transparency there moving forward as the company wants to be a data management company. The only information from the last interview was that SaaS rev were at 1% of rev.
My take on this;
With 1% SaaS revenues, that is a bit disappointing, but there also lies the opportunity.
In one early 2023 interview Doug mentioned the potential recurring rev from a basic $30USD/month fee on 1/2 of the 50K MDC currently installed. Doing the math, that works out to $3M CDN/quarter. If SaaS is 1% of revenues, then in Q4 it was about $73K. Based on a $30USD/month plan there would be about 600 of the 50K as MDC collecting SaaS rev. There's lots upside here and leverage from selling higher tier subscription services.
In addition there seems to be some traction installing more MDC both on an upgrade cycle as well as on new vehicle builds. PaaS was constantly being mentioned multiple times in the latest interview that it tells me that they must be expecting to get traction as Doug said PaaS was accelerating (which eventually leads to SaaS recurring revenues).