Adv

Revenue concentration and mix volatility lower predictability. June quarter revenue was 6.899 million dollars versus 5.597 million dollars a year ago, with software maintenance driving the growth; subscription revenue dropped to zero during the quarter. TTM gross margin remains low teens.

Customer concentration and all revenue recognized in Japan increase sensitivity to contract timing and macro in a single market. Working capital swings are material, evidenced by the June quarter operating cash outflow despite GAAP profitability.