NTO -5.22%: hard to really fault the 2nd quarter of Nitro with the tumble today largely attributed to the tech weakness. Nitro is a smart documents & signature business, printing annual recurring revenue (ARR) of $33.8m, up 56% in the quarter. The strong growth validates their recent shift to a subscription based model which now makes up more than 60% of sales. They acquired PDFPen & signed an integration deal with global giant Salesforce.
MM remains bullish NTO
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