Complaining about marketing is wrong. It’s a cash flow issue Implementing Xtract in SaaS model requires a lot of cash. People who do software sales will understand. You need upfront capital to install. Then you get the money back every month little by little. It's a cash issue which is causing pat to go slow. And that is exactly why evolve has a large red balance sheet. That is why you need funding from deep pockets.
Peter is walking the tight rope of managing installations vs. Cash flow vs. Dilution.
he may have a huge pipeline, but to cater to them all he will have to dilute heavily. So instead he is going at a pace which supports the goal of become cash posotove to fund new installs.
if you understand the economics of this, you will appreciate the management decisions better.
pumping up stock price through marketing will cause 2 problems
1. increase demand causing either pressure on cash requirements if they decide to cater to the demand, or if they decide not to cater to the demand, bunch of unhappy unserved customers who will turn to Evolve.
2. Turn off potential investors from investing over higher valuation which will cause cash flow issues if more cash is required and you have no investors.
hence the measures approach.