Its a fluff ann they have been forced to release due to pressure from activist shareholders. They have given a list of previously made announcements with big names with no update on what is actually being achieved.
The TCV growth was to be expected, $9m divide by 6, multiply by 9.5 in very simplistic form, so no real growth month on month. The sales to bring in the $17-$19m FY guidance are only due to commence now, so there is no certainty those anticipated sales will convert and allow the guidance to be met.
This is a terrible announcement if you take the time to look at it closely. There will also not be $20m cash in the bank now, they would have stated if there was.
Ann: Enterprise Sales & TCV Update, page-16
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