RE:Q3 resultslscfa wrote: No explanation for lower subscription revenues than prior quarters.
"For the three months ended September 30, 2021, revenue from the subscription revenue and services segment was $2,296,633, representing a decrease of $302,792, from $2,599,425, for the same period in 2020. The increase was the result of a shift in focus and demand for our subscription and services.
| | Q3 21 | Q2 21 | Q1 21 |
| Revenue | | | |
| Subscription | 2,296,633 | 2,670,702 | 2,757,540 |
| Devices/other | 4,991,000 | 3,667,078 | 3,853,734 |
| | 7,287,633 | 6,337,780 | 6,611,274 |
Subscriptions down, Devices/other up, total overall is up i.e. "increase".
When this was a MobiKey company I could mostly understand the concept or definition of "Subscription" vs "Devices". Now that there are 4(?) divisions to the Company I no longer have an understanding. Is a simple laptop a device? Or a rugged phone? Or a license plate reader?
What gets dumped in that category? And what now defines a subscription?
Can anyone give me a clarification of how those categories are now defined or structured compared to the MobiKey days? Or maybe point me to the documentation that spells out the new categories and how they are defined and structured.
In that way I might have a better understanding of why the subscriptions are down and devices are up and what that might indicate for growth in the future. i.e. is Mobikey in a death spiral and if so does license plate reading have the capacity to more than make up the difference? There is a lot of competition out there in plate reading.
Should management be spelling it out better? Is that why the share price has tanked - because no one in the investing community understands what they are doing or what their business foundation really is.
A lump of coal for Xmas this year. We've been there before. Question is, will we be there again next year - again! House 84 doesn't seem to think so but maybe they know something the rest of us don't.