Company Reports Q3 Revenue of $104.8M
Reports Q3 revenue $104.8M vs. $113.2M last year. "During the quarter, we made meaningful progress executing against the transformation plan we launched in December," said CEO Steve LaNeve. "We are already seeing tangible benefits from these initiatives, including approximately $10M in realized margin improvements through the fiscal third quarter, positioning us ahead of our original expectations...Overall, we are encouraged by the progress we are making and remain confident in our strategy and our ability to execute on the areas within our control. However, the current geopolitical environment has created significant unpredictability around the timing of installations in several key Middle Eastern markets. Given these uncertainties, we believe it is prudent to withdraw financial guidance at this time, specifically as it relates to total net revenue and Adjusted EBITDA, and revisit our outlook when we report fiscal Q4 results."
