Grade History
| Quarter | Disclosure Quality | Financial Quality |
|---|---|---|
| Q4'25 → | B- | C+ |
| Q1'26 → | B+ | A- |
| Q2'26 → | B+ | B |
| Q3'26 → | B- | B |
| Q4'26 → | B+ | B+ |
Promise Ledger · All Quarters
| Marked | Promise | Status | |
|---|---|---|---|
| Q4'26 | ⏳ | Rule of 40 around fourth quarter of fiscal '27 Reaffirmed commitment with current trajectory toward target | pending |
| Q4'26 | ⏳ | Professional services gross profit growth focus with AI acceleration in second half Still expecting better margins in second half of FY27, not yet realized | pending |
| Q4'26 | ✅ | Expect to have approximately 100 Banking Advisor capabilities by end of fiscal year Banking Advisor shifting from discrete features to pervasive experience across platform | delivered |
| Q4'26 | ⏳ | International subscription revenues expected to be accretive beginning with first quarter Q4 international declined 1% YoY, but guidance calls for FY27 accretion | pending |
| Q4'26 | ✅ | ACV outlook remains $564-567M representing growth of 10% in constant currency at midpoint Delivered $602.4M ACV, 17% growth significantly above guidance range | exceeded |
| Q4'26 | ✅ | Continue to see a desire from customers to renew early and adopt new pricing framework 38% of ACV now converted vs 27% in Q3, with largest customer renewing for 5 years | delivered |
| Q3'26 | ✅ | Credit union team activation delivering results Team 'on track to meet internal targets' though specifics not disclosed | delivered |
| Q3'26 | ❌ | Banking Advisor monetization this fiscal year Explicitly stated 'not part of our fiscal '26 financial plan' - complete walk-back | missed |
| Q3'26 | ⏳ | ACV guidance of $564-567M Expressing high confidence but Q4 execution required | pending |
| Q3'26 | ❌ | Professional services gross margin improvement 'in coming quarters' Now pushed to 'second half of next year' - timeline extension | missed |
| Q3'26 | ⏳ | Platform pricing ~10% uplift target Still hedging with 'want to get through Q4' before confirming | pending |
| Q3'26 | ⏳ | Rule of 40 around Q4 fiscal 2027 Reaffirmed commitment with 'very convicted' language | pending |
| Q2'26 | ✅ | Credit union market activation showing results 6 new logos + 35 cross-sells validates the dedicated team investment | delivered |
| Q2'26 | ✅ | Platform pricing transition 'according to expectations' 21% conversion ahead of pace, Q4 will be major test with largest cohort | delivered |
| Q2'26 | ⏳ | Professional services margin improvement focus Still working through 'legacy projects' - timeline now 'somewhat gradual' | pending |
| Q2'26 | ❌ | Banking Adviser agentic workflows 'next quarter' (Q2) Slipped to 'before end of year' - development taking longer than expected | missed |
| Q2'26 | ⏳ | ACV bookings 'historically seasonally stronger in second half' Need H2 execution to validate - confidence expressed but unproven | pending |
| Q2'26 | ⏳ | Rule of 40 target around fiscal 2027 Reaffirmed commitment but no update on progress toward target | pending |
| Q1'26 | ✅ | Mortgage business conservatively guided (no YoY growth assumption) Already outperforming with $800k Q1 beat and continued churn improvement | exceeded |
| Q1'26 | ⏳ | Operating margin expansion in second half of FY26 On track - flowing through $5M of $24M cost savings primarily in H2 | pending |
| Q1'26 | ⏳ | $48-51M ACV addition for FY26 Explicitly reiterated - Sean said 'we remain confident in the full year ACV plan' | pending |
| Q1'26 | ⏳ | Rule of 40 achievement around Q4 of next year Not mentioned this quarter - concerning that this target disappeared from commentary | pending |
| Q1'26 | ⏳ | Subscription revenue growth reacceleration in fiscal '27 Still committed but language shifted to focus on current year execution | pending |
| Q1'26 | ⏳ | DocFox integration complete by nSight (Q2 FY26) Still on track - Sean confirmed they expect bookings to increase meaningfully in H2 after integration | pending |
| Q4'25 | ⏳ | Banking Advisor to be part of every new deal and renewal Still committed but timeline softened, pushed from February to broader rollout | pending |
| Q4'25 | ❌ | We look forward to building on the momentum created by existing EMEA leadership New CEO admitted EMEA execution was 'not as crisp as it needed to be' | missed |
| Q4'25 | ⏳ | We expect FullCircl will contribute approximately $13.3 million to subscription revenues through first 9 months of fiscal '26 New guidance provided, trackable for next three quarters | pending |
| Q4'25 | ❌ | The 15% [revenue growth] remains our target for next year Guidance came in at 7% growth, major miss on this commitment | missed |
| Q4'25 | ❌ | We expect all new customer and contract renewal discussions beginning February 1st to be under new pricing framework Pushed to Q2 with 'fully integrated onboarding solution' instead | missed |
| Q4'25 | ✅ | FullCircl to contribute approximately $4 million to both subscription and total revenues in Q4 FullCircl contributed exactly $4.3M as promised | delivered |
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