I disagree that its the same journey as Tech One. Yes, Tech One...

I disagree that its the same journey as Tech One. Yes, Tech One need to change both its delivery and business model to SaaS. But fundamentally, their software performs the same function in the cloud as it does on-premise.

IRI has a different problem. Its core value is monitoring complex communications infrastructure that is run by its customers. Unified communications moving to the cloud (Teams, Zoom, Cisco Webex, etc) changes IRI's core value proposition. If you move your company comms to Teams, Microsoft manages the end-to-end service and network. Even with a re-purposed Prognosis, how much value does it create and is it even needed? It sounds like they've built a bunch of new cloud product that talks to Teams and Zoom, etc., so hopefully there is great opportunity for the business.

The H1 results were put down to execution and sale cycle delay, during the fastest migration to cloud communications in history. If this is true, we should see a really strong rebound in H2. If not, I think the wheels have fallen off. Either way, we're going to know pretty soon.