WSP -14.97%: cloud communications business Whispir was out with their 3rd quarter update yesterday with numbers largely in line with expectations. Revenue targets were pushed to the top end of guidance near $68m with Annualized Recurring Revenue (ARR) up 245% YoY to $62.4m. Costs were down as well with the headcount reduced slightly, though total cash burn was marginally higher. Numbers are trending well into their seasonally strongest final quarter so it came as a surprise to see the selling pressure on the stock today. While the performance was solid in our view, the market was aggressive on the sell-side today.
MM is reviewing WSP ~$1.25
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