Despite strong results and guidance, shares of Cornerstone OnDemand (CSOD), Dropbox (DBX), and HubSpot (HUBS) were all down slightly for the week. Sales tax specialist Avalara was the standout performer and public safety-focused Everbridge also saw a nice bump in shares. As hitting the road and processing a seemingly unending stream of earnings has delayed our production a bit, consider this a tease for our post-event takeaways during the week to come.Īs the calendar Q1 ’19 earnings season draws to a close, only six of the 28 companies we tracked this week delivered a beat and raise. Our travels also took us to the Big Easy for QAD’s (QADA) Explore conference and to Huntington Beach for Avalara’s (AVLR) CRUSH conference. We refer readers to our update, Q1 ’19 Recap: The Good, the Bad and the Ugly, for more detailed thoughts and analysis. For the second time in as many quarters, the stock was cut by more than half post-earnings despite upside results for the quarter. Given that has benefited significantly from these arrangements in the past, the changes prompted management to reduce its guidance for FY ’19.
As management shared during its Q1 ’19 earnings call, the USPS is currently re-negotiating its agreements with resellers that could crimp the revenue share dollars available to those in the postal service’s ecosystem. Our short stint at the event was all for naught, however, as we failed to pick up on the only new development that mattered. To the extent a fulfillment house utilizes one of the company’s platforms, directing volumes to that fulfillment house may also boost the fees paid to. While the economic arrangements were not specified, we believe these partnership endeavors enable the company to refer business in exchange for fees or revenue shares. More generally, however, ShipStation continues to add value for its customers by focusing not only on carriers, but also on connecting merchants with other services to support their growth such as fulfillment houses. While we had hoped to garner more insight into the integration of Shipping with Amazon with ShipStation, reps in attendance were mum on all things Amazon. Despite the loss of direct incentives from the USPS, the company’s sales reps continue to work closely with the postal service with the primary difference being the ability to refer shippers interested in multi-carrier capabilities to one of the company’s alternative multi-carrier platforms. After a few laps around the exhibit hall, we concluded that it was business as usual between /Endicia and the USPS. We made a pit stop in Indy to attend the United States Postal Service’s (USPS) National Postal Forum to start the week.
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