I very much said that its my read and my “guesses”.
However labeling it as “hope investment” without discussing/understanding the other person’s arguements also is quite ignorant.
Just to share my reasons on why numbers could possibly improve from hereon: Full year EBITDA margin guidance of 20% - for them to achieve that (or even come close to that), margins should pick up sequentially; Furthermore, the higher investment in platform development would ease up a bit; we would also have a higher revenue base. Looking further out, a gradual margin uptick in a product company is expected (as development costs are much lower and already developed products earn incremental revenue and margins with lower investment).
As I said in my original post as well - no way there is a gurantte for a steady margin rise but seeing history of Temenos that played out. This is my read as I look at it for next 2-3years. How next quarter or next 2/3 quarters play out is impossible to guess ofcourse.
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