They have crazy growth. They reached $100M/ARR in 18 months, and 3.5 times that in less than 24 months more, so around 85% growth YoY. This is a purchase for future potential, not current earnings
Clearly, but 85% YoY growth is obviously not sustainable in the long term.
Sounds like an absurd overvaluation compared to recent acquisitions of software companies I can think of.