The market is not charitable for 2 reasons :
Q1 was pathetic. No one could have expected anything like it. Moreover, answers from management were not very convincing. They need to deliver at least 2 quarters at 18%+ GM level in enterprise for some confidence to return.
Wisely – is not understood clearly by people as it is possible not explained properly by management. Plus there are no revenue numbers , no volume numbers, growth rates etc. Business model / unit economics isn’t known. How do people value nice sounding statements? when going is good – then all is fine. But when going is poor, they are discounted to literally zero. That’s what is happening here. Moving goalposts for international launch of wisely doesn’t help either.
When wisely numbers come or business model is better explained, the upward valuation will be rapid. Question is “if” and then “when”.
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