Aug. 19 at 9:14 PM
$ARAY Don't just focus on the headline about weak revenue. Yes, it fell and missed estimates, but look at the rest: losses of
$0.02 per share, better than expected (
$0.03 was anticipated). The transformation plan has already generated over
$20 million in cost and margin improvements, almost double the target of
$12 million. Adjusted EBITDA rose to
$12.9 million compared to
$9.4 million a year ago. Gross margin increased from 30.6% to 34.8%. Operating expenses fell by 15%. This isn't a company plummeting; it's a turnaround working under the radar. It's not a large company yet, but the discipline is there. We're keeping a close eye on it.
