On 10/30/2019, RIB Software (RSTAY) posted very strong Q3 results as revenues grew by 87.8% YoY (of which 24.6% organic) and EBITDA increased by 20.3%. However, the accelerated conversion from its license-based model ("iTWO") to its subscription-based model ("IMTWO") was even more important, in my opinion. This conversion to SaaS, as discussed here, is the main reason why I recently initiated the first position in RIB Software and why I think the stock will perform very well over the coming years. In this article, I will dive deeper into the numbers, focusing