Hi Daniel,
Absolutely no surprises here - steady as it goes. Revenue was inline with my own expectations - there was a lot of bulls calling for $4.0 million + in revenue but the analysis did NOT support that this quarter. IMO, they are progressing as expected and it was just a good solid quarter - nothing to be a catalyst to send the stock up or down. Folks get caught up in the acquisitions, but until they close revenue is not recognized. Q4 is setting up to be a nice quarter. If they close all acquisitions by then end of December, then it would be looking at Fiscal 21 revenue of $35M+ (not including organic growth or future acquisitions).
Long-term, I believe it remains attractive and has plenty of cash to deploy towards further growth opportunities. It is taking a breather here as it looks to close and integrate all the recent acquisitions. This is normal - a break is ok. This is still a stock that is up quite significantly this year. These pullbacks and consolidations can be healthy and over the long-term, won't mean much.
Mat