Growth ProspectsThe DHA extension removes the greatest near-term catalyst for upside, which may keep shares range bound until further clarity emerges around topline growth.
Revenue GuidanceA negative topline guidance revision stems from the extension of the DHA contract for 2026, which will exclude automated care and behavioral health components due to budget constraints.
Subscription RevenueManagement anticipates subscription revenue to be 53% of 2025 revenues, down from the prior expectation of nearly 60%.