US Utility Program Delays Ending – Material delays in data acquisition programs andgrid resilience planning by US utility customers and prospects during FY23 & FY24impacted Pointerra’s sales execution activity. These delays have resolved andprograms previously delayed are now re-starting, (e.g. material contract awardannouncements 8 March 2024, 28 June 2024) which is expected to materially improveinvoicing and cash collections through FY25, into FY26 and beyond.
At best this mis-represents what those contracts stated........they were one off contracts for specific work from Pointerra which does not demonstrate that "delays have been resolved". If that were the case, then clients would be using their platform and those revenues/cash would be flowing through on a monthly/quarterly cycle they are meant to bill those clients.
Pointerra raised another $2m a month after the 4C for Mar24 where Olsen claimed that payments were delayed and expected to be received in April.
Arguably those contracts point to someone committing to paying Pointerra a contracted amount (as opposed to the ARR or ACV or whatever annual numbers that were being communicated before), but neither of those point to FLP or Amazon or 7-8 figure Middle East ARR having started/restarted!!!).
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