By the looks of things, solid but not spectacular. Hiring in the volumes they are to produce the results they have (which appear to be growing by a little bit but not in leaps and bounds) is a bit odd, and this still gives me pause. One might interpret this as an act of rash desperation from a CEO whose grand ideas are not taking as he wishes, or as a sign of confidence based on knowledge which is invisible to me and I presume to others.
Future results will tell the tale, but we can definitely expect the expenses to keep increasing.
There remains a shortage of announced major deals considering this is Wave's focus. So unless or until the acceleration shows up, the jury remains out on Wave's prospects.
Yields a 6 or 7, but neither an 8 or 9, nor a 4 or 5, on my optimismometer. 6 or 7 is the zone of steady, accretive growth and that seems to be the pattern Wave is in. 8 or 9 is the promised land of exponents. 4 or 5 is where growth has stalled and we await new developments and dilutive equity issuance to fuel the company's prospects.
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