It might have something to do with them better disclosing that the recent earnings upgrade is a function of a client terminating their subscription agreement. ARR down but the termination payment is fully recognised now.
That was a bit cheeky to not disclose it last year. A client paying a termination fee and RUL calling it subscription revenue and letting the market make ARR inferences about that revenue.
@BkrDzn - I thought that was covered on 13th November? Yes, the disclosure was a bit opaque (and therefore raised questions which we discussed here) but the materiality and therefore its non-recurring nature was understood.
Still, I'm not complaining, volatility provides option value, so I am happy about that. :-)
I got a nice little order in at $1.78, which is below the level they've been buying their own shares back. So, yay me!
Nah they banked extra revenue in FY23 related to a client terminating a service contract but they didn't disclose that until today when explaining why subscription revenue went backwards.