Citi expects a step up in growth in the second quarter as the company angles for a partner-based channel strategy. The broker is looking for a record second quarter after a weaker-than-expected first quarter.
The $50m capital raising was larger in size than Citi analysts had anticipated. The flip side of that is the company now has plenty of funds to deliver on its FY21 ARR target, the analysts surmise. The acronym stands for annualised recurring revenues.