Conference callThis is not intended to be a summary of the call, just a few things that stood out for me:
- Acquisition deal flow at reasonable prices is improving. (That's important for a company with so much cash on hand.)
- They are adding cash at about $4M/Q (which interestingly enough seems to include deferred revenue as mentioned in a previous posting).
- (Although from my perspective services revenue isn't as important as SaaS revenue, it is nonetheless noteworthy that) for 2024 services revenue should be substantially higher than it was in 2023 because of the current backlog.
- EBITDA margin should creep up over time.
- 2024 is shaping up to be great.
- And, last but not least, A/R collections is improving (On that note, I was getting a little concerned that A/R was trending higher over several quarters, peaking out at over $18M at the end of Q2 2023. It is now down to about $9.3M, which puts it in a normal range in relation to revenue from my perspective. Kudos to VHI mgmt on that front.)