Q: Hello,
What your thoughts on Payfare’s second delayed earnings report and the subsequent drop yesterday. Also, what do you think of all of the insider sales?
Thank you
What your thoughts on Payfare’s second delayed earnings report and the subsequent drop yesterday. Also, what do you think of all of the insider sales?
Thank you
5i Research Answer:
While the delays are starting to get more tedious, we would not overreact to this news. PAY continued to state that the delayed results will not affect the company's financial performance and outlook, so the news and drop in price appears to be largely reactive. Additionally, the reason was due to delay from a vendor and not internal lags. Although not definitive, PAY expects to make the annual filing on April 12th. Being such a new company we are not overly concerned with the insider sale transactions.