strip out dell, safend and the major orders from wave's revenue. you need to remove all the stuff that was the result of the past or that is too large not to distort the numbers.
this provides you with an indication of current breadth. the little orders that are coming in plus income from smaller oem relationships.
that's the number i watch to see if demand is emerging.
it isn't the absolute figure. it's the sudden growth. this number was stable for five years and told me nothing was exiting the pipeline (ie the harbour was unsafe).
that has changed for the last two quarters (yep, it began in q1). the pipeline is beginning to flow. and the flow is expanding fast.
expansion in one quarter is a blip. expansion in two sequential quarters originates a trendline. three begins a curve. we have two quarters of expansion. so it's worthy of note.
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