Yep - unfortunately on little news for those who actually study and watch this stock closely.
These results should not have been of any surprise as were consistent with what was being signalled.
My view is that the new developments around trust and other entity types will not start impacting their numbers (sales wise) until q2-q4 subject to them executing their development and roll-out well.
The market movement throughout Q4 last year was just as mystifying as the correction we now see here.
The plan to diversify their product and thus revenue line through the NI acquisition and the broadening of their product suite are sound strategic moves. None of these will mean instant results but show a logical forward looking plan, whilst at the same time importantly not taking the eye off their core business.
Unfortunately many analysts IMO do not have a longer term radar and not surprisingly their waning results generally reflect this.
CL1 Price at posting:
$1.81 Sentiment: Buy Disclosure: Held
