Also curious what the future will bring, and very interesting since the growing part of the business is masked by the declining legacy business.
But good to stress that management seems to have been chronically overoptimistic about the near future, and downsizing the past:
2022-Q2 earnings call: "2022-Q2 earnings call: Illumin sales are growing and on track to reach 50% of revenues by end of year."
2022-Q3, press release: “illumin third quarter revenue rose 78.4% year over year and 29.4% sequentially to $13.2 million, or 46% of total revenue. On a YTD basis, Illumin revenue is $31.3 million.
2023-Q3, earnings call: "We exited Q3 in a run rate of $25 million, which, again, is a great achievement"
2023-Q4, earnings call: "“In 2022, we had virtually no illumin Self-Serve revenue. We had no long term contracts and no Self-Serve pipeline. And look where we are today. In 2023, over $20 million in Illumin Self-Serve revenue.“
At least the CEO has been buying a lot personally.
Also curious what the future will bring, and very interesting since the growing part of the business is masked by the declining legacy business.
But good to stress that management seems to have been chronically overoptimistic about the near future, and downsizing the past:
2022-Q2 earnings call: "2022-Q2 earnings call: Illumin sales are growing and on track to reach 50% of revenues by end of year."
2022-Q3, press release: “illumin third quarter revenue rose 78.4% year over year and 29.4% sequentially to $13.2 million, or 46% of total revenue. On a YTD basis, Illumin revenue is $31.3 million.
2023-Q3, earnings call: "We exited Q3 in a run rate of $25 million, which, again, is a great achievement"
2023-Q4, earnings call: "“In 2022, we had virtually no illumin Self-Serve revenue. We had no long term contracts and no Self-Serve pipeline. And look where we are today. In 2023, over $20 million in Illumin Self-Serve revenue.“
At least the CEO has been buying a lot personally.
Great write-up. Have been following this company since the insider buys. Recent sell off provides a good entry, I'll start buying around 1.4 / 1.5.