Q: Earnings out early this morning (Thursday). Can you comment after call at 8:30. Results appear to be good but I'll leave it to the experts (and market) to determine. What should they mean going forward? Is it what 5i expected?
5i Research Answer:
Revenue was $16.2M, up 5.4% and slightly below estimates; recurring revenue rose 8.5%. SaaS revenue rose 16% and is now 67% of sales. SYZ bought back $0.7M in shares. Outlook commentary was decent, with momentum expected to continue into 2024. Adjusted ERS numbers were not released. While growth is relatively low, the company is still transitioning to its new growth model and we are comfortable here. Thes comments are pre-conference call.