Net income was about $22.5 million with revenue hitting approximately $162 million. "We have made progress across all of our business," CEO Tim Reed said. Like almost all software business, the company's story was the growth of its cloud business. Online subscriptions stood at 306,000 at the end of the year, an increase of 53 percent from 200,000 the prior year. There were 601,000 paying SMEs on June 30, up 5 percent from 51,000 at the end of last year's first half. The Enterprise Solutions segment experienced the fastest growth—the approximately $24.3 million in that business represented a 38 percent increase over the prior year's results. More than half of the Enterprise revenue came from sale of Enterprise Advanced, a product based on the Acumatica platform. Greentree, acquired in August 2016, added about $7 million to the segment. SME Solutions produces the most revenue, rising 12 percent to roughly $100.3 million and it's here that MYOB is in a highly competitive market with Xero having the largest base in Australia with Intuit working to ramp up its business and also a decently strong present from Reckon.