Backlog DeclineThe backlog as of the end of Q3 stood at ~$88M, down from $100M a quarter ago due to only $10M in new contracts announced during Q3.
Higher ExpensesAdj. EBITDA was below expectations due to a steeper-than-expected increase in SG&A expenses.
Margin PressureNTG Clarity Networks reported softer margins related to resource expansion, partially offset by 42% top-line growth.