03-10-2019, 01:50 AM
Yes, there is something to be said for that, Mrebs. However, there is also something to be said for the bull case:
- Faster backlog conversion, this might be possible with the help of the batch of engineers that came from the two acquisitions.
- Selling more to existing customers. In Q3, the company basked in a dollar net retention rate of 147%, that is, for every dollar stipulated in the initial contract, customers on average contract 47 cents more, but these additional sales show up in increases in backlog.
- Backlog has increased by 40% since the company made that iPass acquisition presentation which contained that $144M 2019 revenue guidance. Backlog was $500M then, it's almost $700M at the end of February.
- A new enterprise sales segment mentioned by the chairman and perhaps buttressed by several corporate customer wins in February.