Agree, the company is basically saying it was slightly delayed...

Agree, the company is basically saying it was slightly delayed on some contracts, but they are coming. That is not a surprise when doing contracts. It is almost standard to some extent. You miss the month by 1 min, and its into the next month. That was an opportunity for some to top up.
This is not really a hard model to work out. They add more clients on 3 years contracts and every new contract stacks on top of the previous. Most tech stocks would die for this sort of revenue model. Just ask BIG and GSW.