Jun. 3 at 10:22 PM
$AI summary of the earning call, showed significant challenges: revenue dropped to 53.3 million dollars, which was much lower than expected, and the company’s non-GAAP net loss widened to 40 cents per share. The CEO called the results “clearly inadequate” and announced a 135 million dollar cost-cutting program. Despite the weak quarter, subscription revenue stayed steady at about 90 percent of total, and they still have roughly 621.9 million dollars in cash, but the future outlook remains cautious.
