Investor SkepticismAn inability to deliver on expectations has created some skepticism amongst investors, which was not alleviated with a ~80% 2H weighted revenue guide for FY25.
Revenue ConcernsThe stock didn’t react well to earnings due to concerns about the backend-loaded nature of F2025 revenue.
Revenue Guidance RisksRisks to FY2025 guidance, rising competition from vertically integrated players, revenue headwinds from declining pricing, overhang from equity sales by AES, current valuation, and better return.