RE:Another solid quarterSome weak hands freaked out because of the drop in Net Income, but if you read between the lines, they've spent 351K in sales and marketing vs. 224K last year. Also there was a 70% drop in hardware sales, which is non-recurring business.
This business will be taken out on a recurring revenue multiple, not on a profit multiple. There are doing the right thing spending more to increase ARR as fast as possible ! 3B$ cash on hands give a lot of leeway for more buybacks.
BSM technologies was bought out 2x revenues and 30X EBITDA in 2019 and it was not a barely profitable and barely growing business. We are now barely trading at 1.5X revenues...
Investment into sales and marketing continues, increasing sales and marketing spend to $351, an increase of 57% or $127 compared to $224 for the prior year.