Astute investors are waiting for metrics on security software sales at the 3500 retail locations
they entered at the beginning of the year. This will tell the tale on weather this is a $40 or $20 stock by the end of the year. Remember sales of security software have been basically flat over the last 3 quarters as the growth has come from the feliu side of the business.
No, you are not looking at it the right way when you say that security sales have been flat. You are missing the point of the offer wall & platform model. A significant portion of new security customers no longer are monetized by subscriptions, but by the offer wall (i.e, through third party app referrals, advertising, games). The fact that subscribers have actually been constant is quite impressive because you would have expected it to decline as paying users chose to get access to premium content by shifting to advertising. So overall, this is very strong growth and proves the monetizatio capability of the platform model.