Ann: Pushpay revenue up 35.2%, gross margin percentage..., page-6

They keep guiding revenue growth expectations down. Admitted will be at low end of guidance range which is USD97.5m. Seems risk of a miss is reasonable now. The problem is each quarter over the last year there is always something coming up that cause them to manage expectations lower, in which they then barely make it. Compared to 2016 & 17 where they smashed targets/guidance. As I've stated before, its not about the absolute growth, its about what they deliver relative to the expectations investors form. If they keep missing these expectations and downgrading future expectations, then the valuation will keep de-rating. Until this changes the stock will struggle.