Financial PerformanceThe cash proceeds of $40M, plus forfeiture of $10M in earnouts plus a deemed value of $27.4M for the QUIS shares at closing for a total of approximately $77.4M is disappointing against prior expectations.
Market Valuation TrendsValuations on payment firms have seen significant declines, especially for smaller firms.
Revenue DeclineProfessional Services revenues have seen a significant year-over-year decline, which constitutes a headwind for the company.