Model N, Inc MODN recently reported preliminary fourth-quarter fiscal 2020 results, wherein the management stated that the company’s revenue and profitability metrics exceeded the previously announced guidance. The stock was up 1.7% to $36.22 following the announcement on Oct 8.
Model N’s transformation to a Software-as-a-Service (SaaS) based model is driving top-line growth along with strength in logo business and new client additions.
The upbeat preliminary results augur well for the upcoming earnings release, as it hints toward upward estimate revisions and plausible revenue beat. Markedly, Model N is scheduled to report fourth-quarter 2020 results on Nov 10, 2020.
Model N, Inc. Price and Consensus
Model N, Inc. price-consensus-chart | Model N, Inc. Quote
Model N also announced that David Barter was stepping down as the chief financial officer to pursue new opportunities. The company noted that search was on for his replacement and in the interim, Barter will assist