Shonak Roy

These students, they will take one course in the fall, maybe one course in the spring, or they might take one or two courses in the year.

So there's a lot of variety here.

So essentially it's not that they are using in every month.

So depending on where they're taking courses, they're using our technology and they're paying for it.

So that's another thing to point out.

So we launched the product in 2019.

I think we'd have hit a million revenue in 2020.

This year we would do, actually, you know what, I'm not going to share the numbers right now for a few reasons, but we are going to do pretty well this year because the market is pretty hot right now for ed tech.

Schools are looking for these kinds of products in the market.

It's a great question.

So for us, the way we look at the business is adoption in a particular course.

So let's say a university wants to just try us and they launch us into a set of courses and we get paid for that.

I mean, that is something what we call is courseware revenue.

We track that separately from ARR, which is our contracted revenue, one to five year contracts.

So typically what we find is that when a school starts using our technology, let's say in a few courses, it takes them about one to two years to be able to get enough data to buy an enterprise license.

So our enterprise license is always a goal.

We want to sign a five-year deals with all our clients, but we take them through the journey of in terms of land and expand to that enterprise level.

So that's the business model for us.

You know, we launch into schools and we have seen that and proven that model is, you know, it takes about some time for them to try the product that they buy.

And, you know, universities, as you know, are very conservative.