Revenue up a whopping 2% YOY. When the rest of the industry is up double digits. Looks like Teradud is on life support.
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It's very telling that we grew revenue only 2% whilst everyone else is double digit. Considering we are not gaining new logos, the revenue is only coming out of incumbent customers which is worse than expected.
The problem going forward this year is that more cuts will be needed to the workforce to keep the numbers looking positive. CB even referenced more cuts in his transcript.
More loss of jobs on the horizon will lead to further low revenue numbers. Just imagine if we had an intact sales organisation how bigger the revenue would have been? You cut the sales organisation to the bone and surprise you get depressed revenue figures. Who would have thought?
Stock will sink into the $30 range tomorrow as the street is not swallowing their lies. They fumbled through the earnings call with zero conviction. Downgraded their outlook as they pointed to increased competition and even noted that there are big erosions in 2024.
Stock may be down 20% tomorrow per what Google lists.
Just in time for March.