BUD-LifX The Future, page-135

nitpicking, but I don't think that is correct?

I agree its been slow and has been delayed -  but oct said the vague CY2019 - now at least it looks like hopefully something that can be reported midyear 

 oct 2018 4c

"It is expected that first revenues from the distribution agreements with variousIngram Micro entities are likely to be recognized beginning in CY2019. "

now jan 4c

"management believes revenue will first be recognised in a number of regionsstarting in the next quarter (Q4FY19)"
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Back August 2018 it was Q1 FY2019 or in Q2 FY2019.- so yes delayed... 

"Buddy originally envisaged first revenues to be recognised in Q1 FY2019, it isexpected (given the contracting cycle of a customer) that first revenues are likely tobe recognised in the end of Q1 FY2019 or in Q2 FY2019."

Originally posted by kfresh

nitpicking, but I don't think that is correct?

I agree its been slow and has been delayed -  but oct said the vague CY2019 - now at least it looks like hopefully something that can be reported midyear 

 oct 2018 4c

"It is expected that first revenues from the distribution agreements with variousIngram Micro entities are likely to be recognized beginning in CY2019. "

now jan 4c

"management believes revenue will first be recognised in a number of regionsstarting in the next quarter (Q4FY19)"
--------------------------------

Back August 2018 it was Q1 FY2019 or in Q2 FY2019.- so yes delayed... 

"Buddy originally envisaged first revenues to be recognised in Q1 FY2019, it isexpected (given the contracting cycle of a customer) that first revenues are likely tobe recognised in the end of Q1 FY2019 or in Q2 FY2019."

The wording has changed from October ('expected') to January ('believes'). In my opinion, it has gone from almost certain to not so sure. Time will tell. 

Seems to me that DM is 'hoping' things will start happening with Ingram. I suspect there is still yet to be traction despite some training having taken place and Tim Ritchie attending the Ingram Micro One event recently. It may well be a case of the issue being with IM and not Buddy. But the list is starting to grow eg. Telstra, Digicel, the proposed merger/acquisition (name escapes me). All of those companies had their own challenges to
varying degrees. What it does do is highlight some of the challenges/risks with the third party model.

Given the tone of the last 4C, I'll believe it when I see it.