RBC....analysis"The issue with Q1/16 results was twofold: (1) 2016 is a year that has significantly lower contracts up for renewal than "average". Furthermore, 2015 was a year in which renewal activity was a bit higher than "average", explaining the significant Y/Y revenue decline; and (2) revenue recognition of LaserPro contracts is such that, in most cases, about 65% of the contract value is recognized into revenues at the time of contract signing, a material percentage that can have a significant impact on quarterly financial performance."
Seems like a logical explanation - this year there aren't as many renewals opening up so the 65% that's typically accounted for upon signing is generally lower this year (with return to more normal levels in 2017). I suspect that as this digests into the market, there will be a decent rebound of recent losses. Charts also show a pretty large gap that will likely get filled within the next 3 months. It means a return of 25-30% from these levels. Good risk/reward after the beating over the last 2 trading days.