Seems the SaaS model is definitely working which infers a significant forward revenue stream but ..
The basic numbers dont look great .. e.g. making a loss & cash
Will be interesting to see if they take off in China. If you're a marketeer the figures are looking good - if you're an accountant no so good. Think the share buy back will protect the share price. My bets are we are up tomorrow... there is a good story brewing.
Agree, on the basics it doesnt look great but this annuity SaaS model has something going for it.
Why didnt they reset analyst expectations - even if they had made the revenue targets they would have missed. I can only put it down to underestimating how quickly std licenses would decline and SaaS would grow. The growth in Professional services is also a good lead indicator.