RE:RE:Never ending drip Some recent conference call comments by management:
Q2 2023 (call was Aug 29th): "And one thing about our pipeline which we’ll say is that it is the largest pipeline in the history of the Company. But very importantly, we have more significant opportunities that are further down the pipeline than we’ve ever had in the history of the Company. And so that’s really quite important because, as you know, some large contracts, particularly government and state contracts, can take a long time to close. Right? Even after they’ve been awarded or even after we know that we’ve won procurements or tendering processes, they can take time to close. And so the maturity of our pipeline is also what gives us a really significant amount of confidence about the overall ARR growth in the company. So medium, small, and very large opportunities, and you should expect to hear much more about those in the coming weeks and months"
Q3 2023 (call was Nov 27th): "Yes, so we have—we’ve got a significant number of larger contracts that are in our pipeline. I think we even-we had talked about this at the end of Q2, with our Q2 reporting as well. Of course, with these very large contracts, they take time to convert. These are complex clients and they have complex needs, and so timing can be a little bit uncertain. That being said, the pipeline is—again, the pipeline is significant and it’s quite mature, and these relate to our digital front door solutions as well as Pharmapod solutions, so we feel very, very positive about our pipeline heading to the end of the year and the start of 2024. Exact timing, always a little bit uncertain."
So putting these comments into perspectives the days/months turned into late 2023 and early 2024. That delay, along with the underperformance in the CRO segment, is the reason why they've had to draw much more than expected on the Beedie credit facility. There have been some announcements but nothing overly material and/or repeats of prior news releases so nothing net new.