RE: Big contracts in the way..5 Nov 2024 17:53
Hi Spratt, we do have a completely different approach, I only invested in tech companies, either I topped up my stock options (not in this case) or when I was pretty sure that the technology would fly.
I don't doubt the sincerity of Chris Cochran or Kelly, but I don't understand the strategy behind it. Letting go almost all sales guys and keeping 3 CRO's (btw one is in England, there are not all in the US), doesn't make sense to me. All those partnership announcements might be great, if there hadn't been so many of those in past. It takes a lot of stamina to build a working parnter ecosystem and I don't see that happening with no Cirata presales guys on training them. Cirata's software is not an app on your iphone...
Is the plan to sell Cirata? I don't know, but at least the massive layoffs would make sense. Do I believe that they will get 12 Mio in this quarter π¬? No, I don't and if Kelly is the guy I think he is, he should adjust the number now. Another quarter with slipped deals would be shame. If you had ever worked in the industry, you would also realize, that there is something off.
I know what a CRO does, believe me, I was a CRO for almost 10 years in a way bigger organization than Cirata.
And yes I might sound like a broken record, the brain drain is hitting Cirata really hard, they lost a lot of good people.
I thought about reaching out to IR about my doubts, might do so, but honestly I think they won't give me the answers I want.
No hard feelings, just my personal opinion.