MonetizationThe AI opportunity is still early, and Management is focused on adoption versus monetization.
Revenue VariabilityThe 'pooled fund' deals will likely cause revenue variability over the next few quarters, as seen by the -300bps contraction in DBNER to 112%, as they mimic a consumption-like business model and are therefore harder to forecast.
ValuationNET also carries a particularly high valuation, and thus analysts continue to prefer a few other high-growth software names at this time.