When everything is under pressure, or at least everything in your sector has seen some recent selling off, releasing a market update that is anything other than perfection is going to hurt. 

Looking into my crystal ball of all other holders, this is exactly their thinking. But why I ask, as a holder, things don’t look bad: 

• MRR for December of $9.2 million, a 7% increase quarter-on-quarter (extrapolated this is above 20% annual)
• Quarterly revenue of $26.6 million, an 8% improvement quarter-on-quarter
• ARR of $110 million
• Cash outflow of $10.3 million compared to $10.1 million in Q1

Revenue increase in the quarter is on the back of adding more than 120 new customers providing almost 1200 services all for monthly recurring revenue.

Megaport appears to be on track with their plan, still in product development mode, but adding new customers and recurring revenue while not increasing cash burn. 

Assuming the whole market does not crater, if there is additional price pressure I will consider adding here.