RE:Response to v_g and Canaccord Kinaxis is a SAAS company. These companies have very scalable and profitable growth models. Once they have scale, they have a tipping point and produce ridiculous returns vs. Little incremental capital. It is a very efficient growth model at scale.
ITS is not a software company. The growth is not scalable. Every new deployment requires hardware, labour and maintenance capex. Growth requires more labour and more capital to finance the hardware. There is also lots of risk of cost over runs as everything is custom for each installation. There is some efficiency in a common operating backbone.
This is more of a Nokia or an Ericsson model. Or maybe like a security monitoring company that pays for hardware upfront and then charges a monthly fee.
ITS is not a software company.