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.
Could this morning's price movement simply be put down to "buy the rumour sell the fact" as YTD price range has been ~$1.66-~$1.77 with fairly consistent volume and then Wed/Thur volumes increase and price goes from $1.77 to $1.94, and then they report after market closes (never do like but at least it wasnt friday) and whoever was buying on Wed/Thur (maybe factoring in a better result) decided to dump on the open.
Do have large holding in SMSF and will continue to hold