Canadian Market ChallengesThe Canadian macro backdrop remains a meaningful challenge, with management noting continued headwinds from elevated inflation and a 7% unemployment rate that’s weighing on discretionary spending.
Guidance AdjustmentThe company narrowed revenue guidance in line with the Street but lowered its adjusted EBITDA guide below expectations.
Management Credibility ConcernsThere is a history here in missing guidance early as a public company, which makes the Street hypersensitive, so the tightened guidance will have an outsized near-term impact on shares.