I think we are starting to see what @GavinSBaker called deep in the COVID correction - that some software is more recurring than others.

$AYX mgmt seemed to validate this point...
Customers scrutinizing spend everywhere
More color on customer behavior
Customers are now slowing down digital transformation efforts, which goes against what mgmt said in Q1...
Just a few months ago, COVID was seen as a catalyst for digital transformation (from Q1 earnings transcript)...
A view into $AYX potential pricing power?
A reminder that operating leverage cuts both ways
I have no position in $AYX. Considered it at various points but pricing has been too high for me. Just pointing out my observations (having been following the stock for a while).
You can follow @wgilby.
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