Consensus is for FY24 revenue $375.16M. The new guidance reflects a lower hardware revenue, with Core subscription revenue growth maintained at 25%+ YoY. Sees FY24 Adjusted EBITDA of $39M-$42M, upgraded from $36M-$41M; EBITDA loss (7M)-(10M), upgraded from (8M)-(13M) including the $5.8M in IPO-related transaction costs; Positive Operating Cash Flow for each quarter of 2024. Sees Year-end cash, cash equivalents and restricted cash of $150M-$160M. The forecast includes expected significantly higher outflows from RSU settlements, the investment in Hubble, IPO proceeds and related transaction costs, and timing variations in working capital in Q4’24 related to hardware inventory and the new product launch.
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