EBITDA GuidanceFY25 EBITDA guidance missed Street estimates with management guiding to ~30% incremental adj. EBITDA margin, which was well below Street estimates.
ExpensesFY25 expense guide missed expectations, contributing to recent share price decline.
Profitability OutlookThe shares pulled-back ~10% due to a light profitability outlook, which is attributed to ramping of some high-profile deal wins that are expected to contribute more in FY26 and beyond.