alea, it doesn't surprise me any more than the opposite would,
and I admittedly have not gone through the numbers more than just a glance. From previously I do recall some sort of 6k seat ERAS euro-thingy that supposedly booked Q1, and some other thingy's which seems to indicate to me that the underlying day-today stuff is just plain crumbling.
It seems they needs a massive sales team to sell peanuts, cash-flow has dictated they lose the massive sales team, and now they struggle to sell popcorn.
outside of the unsafe harbor I only see indications of folks bypassing TPM solutions (e.g. IF-MAP at Boeing, heck maybe they'll crank out one of those TCG case-studys this summer to illuminate the matter).
there is the whole convergence thingy, and if the pace of that accelerates considerably, one could see Wave products be seen as valuable to more.
The above content is my opinion.
