Snackman: That's not what I said. Here's the exact quote:
"I'm going to guess what you [Player 1234] expect to be $4.9M for Q3, will be closer to $4.5M and possibly below."
[Note: I misread Player's $4.9 figure to be his estimate of Q3 revs and he corrected that to say it was what he felt would indicate progress, not what he thinks the figures will be.]
The fact is none of us truly know and all of us are just guessing at what is going on. I think Dig has done some interesting analysis on the numbers, but it will be next month before we know what the latest numbers are and what they mean.
To me, the single biggest void and most important fact is no new OEM sales (at least ones big enough to require reporting).
After nearly a year on the job, that alone (no new OEM sales) is troubling in the extreme. That is a figure that IMO, sends a blinking red light to potential investors. Sure, it may change drastically, but few have made money betting on what Wave may do.
I expected to see some small orders followed by larger ones and progress of some kind under the new leadership. Instead, we have seen nothing to indicate progress other than the "analysis' by some who said Solms did not backpeddle on his forecasts when he had opportunities to do so.
To me, that is pretty weak tea--given all the quarters where buckets of tea were made with that same old tea bag. [No relationship to any political parties intended].
What we have seen in the year Solms has been aboard is good effort, replacement of the old sales team with a new one, modification of Wave products and the expiration of some time frames the new CEO gave--but no new sales of any significance.
Some are disgusted by this lack of performance, myself included, and some are trying to spin nothingness into something positive. Let's wait for the numbers and any announcements carrying revenue. Otherwise, Wave under the new leadership remains sadly, too similar to the old Wave.
Today's news release is a prime example. It sounds good that Gartner has tagged Wave as a "visionary" in 'Magic Quadrant for Mobile Data Protection.'
But, unfortunately, like all of the other news releases under the Solms regime, it carries with it no revenue. Sound familiar?
How long must investors wait for some proof the new leadership is succeeding? IMO, that waiting period is coming to an end--if the Q3 numbers are as bad as I think they will be.
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