HIT's third-quarter sales fell from $8.5 million to $6.6 million, and it swung from a $0.5 million profit to a $7.1 million loss. Partner growth and contracted revenue offer support, but $153.8 million of its pipeline was still in quoting or binding, with expected conversion of 3% to 7%.
The drop in sales and shift from profit to loss show weaker results. More distribution partners and $32.7 million in contracted revenue over nine months offer support. But $153.8 million of the reported pipeline was still in quoting or binding, with an expected conversion rate of 3% to 7%.
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