Fly Fisher
From the transcripts:
"But it shows up on a monthly basis and really the procurement contracts are with HP, they’re not with Wave."
"And as we don’t have a direct contract it’s very hard for us to press that through from a Press Release or public communications perspective."
The whole passage:
"We - on the HP front we signed a distribution agreement a year ago and we’ve been pleased with how that’s been working. We’ve had really I think really a very positive development here. Our product is broadly available now across the HP channels. We have a number of customer wins. We have a number of fairly good-sized customer wins in front of us. And a good example of what a customer win looks like in this market is we recently had a large financial services institution in the Southeast that procured product, or is procuring product, with their new HP machines, and we’re really just bundled along with that sale. And so we’re expecting to see in the few hundred seats per month really over the course of the next three years. That would be a consistent volume, and at the end of the day it’s between a 20 and 30,000 seat opportunity.
So it’s a nice selection. I think it does highlight one of the challenges we have. That’s a very significant customer win for us, 20-30,000 seats is a nice piece of revenue for Wave. But it shows up on a monthly basis and really the procurement contracts are with HP, they’re not with Wave. So there’s no assurance that next month they will continue to buy the same units. Having said that they’ve clearly standardized on this infrastructure, they’re deploying it within their whole organization, and they are training their employees. It’s just a question of what’s the definition of a legal announcement vs. you know, in its materiality. And as we don’t have a direct contract it’s very hard for us to press that through from a Press Release or public communications perspective."
Wavxmaster
AI
