Given their proven track record with new products, it makes a lot of sense to keep spending on R&D. Mostly they’re a classic enterprise software business (with

Given their proven track record with new products, it makes a lot of sense to keep spending on R&D. Mostly they’re a classic enterprise software business (with developer-led marketing) and so the wider array of products they have to sell, the better their future cash flow will be with subscriptions/maintenance. $100M and $1B in annual revenue tend to be important thresholds in the enterprise software biz, and they’re well past $100M. G&A will of course get wrung out by professional managers.