RE:RE:RE:RE:RE:CEO is worried about SO yet does nothing… Lack of sufficient cash on hand vs pending $16MM in long term debt due in Q2.
VPROS draining cash at over $400k a quarter and they can't get rid of it. It's been for sale a long time.
DOC interoperable platform and services has yet to be sold to any client. This was supposed to be its USP yet no one wants it which means no one sees the value in it. That means the $200MM DOC has raised is wasted on something no one wants.
What DOC is; Karen Adams comfort zone/background. It's now leaning hard to a version of M&Shappel. That too was worthless low value junk.
high labor costs required to support navigator and support functions so,
low GPM business vs market leader TDOC ie 37% vs 70's%.
They have lied for two years that they're integrating systems and backend yet we learn via new CIO at Investor Day that that's his focus now. This type of activity means they have heavy heavy tech debt and it's expensive to remedy. Given his comments I wager they have a lot behind the curtain that would scare anyone with an IT background.
sales pipeline they keep talking about is proving anemic. $50+MM yet we don't hear of any big client logo wins just tiddlers which equates to a few million bucks each quarter. Nothing is building Quarter over Quarter. Karen now thinks they will sell $15MM in 2024 which is terrible for a company that supposedly built something market leading and it should connect with real demand. They isn't anything here but vapor. Sales are adhoc just like the win of RPM in US. It's a standalone contract with no cross
platform application. Don't bother trying to spin it, their platform in US and the one in Canada aren't connected/integrated.
This CEO has made claims she has led DOC through some tough changes yet, I don't see what they have left being something they can build from in to the future without massive cash and new expert leadership.
DOC is little more than Karen polishing a turd and hoping you buy it. Which is what McDouche here is doing. He's a paid pumper jumping on people that don't agree that things are AOK with DOC.
blind devotion while little left now before stock hits ZERO