Hydreight (HYDTF) is still in the first inning of scaling its VSHDOne platform, which has only been generating revenue for three quarters, but is producing hypergrowth. The company sold 12K+ licenses for the platform, but the revenue comes from a small part of that, as onboarding is a fairly complex and time-consuming process. That is, much additional revenue growth is already baked in when all of these 12K licenses are onboarded and start to scale.The company is also producing great operating leverage, with 67% sequential revenue growth not increasing OpEx, which remained fixed at $2.2M and is plunging as a percentage of revenueAll amounts are in Canadian dollars except when stated otherwise.GrowthThe company is in hypergrowth, with 67% sequential growth in Q1 to $24.9M This growth is still in the very early innings as its VSDHOne platform (responsible for most of the growth) has only three quarters of producing revenue behind its belt.VSDHOne sold some 12K+ licenses, but the revenue comes from just a fraction of these, as many of the licensees have yet to be onboarded or are in the early process of scaling.Remember, customers need 1 license for 1 state; if they want to sell nationally, they have to buy 50 licenses.Subscribe now