Financial PerformanceManagement's 2H outlook trails expectations by 11-80%, leading to an underweight rating and a wait for clearer signs the model can stabilize.
Market ChallengesDiscretionary spending headwinds, intense competition, tariff related pricing increases, and a delayed product launch all remain challenges to growth and profitability.
Revenue Performance2Q revenue guided 10% below Consensus forecasts and implying 8% Q/Q growth at the midpoint vs. trailing 3 year average seasonality of +24% Q/Q.