If we assume… that they can repeat the 20 new customers per quarter, that would get them 25% growth vs the 16% growth last year.
Hi Duma, You are ignoring that they grew subscription revenue by 73%(!) last year in spite of only growing new customers by 16%!!! If they are increasing the rate of new customer growth by 50% from 16 to 25, should be estimate that their rate of subscription revenue growth will increase from 73% to 110% (up 50% too). No, of course not. What is clear though is that (a) the initial “lands” must be getting much bigger, and (b) the up sells, once a customer sees how helpful their system is, must be huge. As the guy from the Air Force (I think it was) said, “Once we found out how helpful it was on one area, there were 100 other areas we wanted to use it for.” And Pivotal charges by usage.
But Duma, don’t take a position. I may add to mine tomorrow after writing all this, and I don’t want the price to go up. 
Saul