Sizing Up Tungsten’s Numbers: Invoicing and Trade Financing Market Implications [PRO]


Two weeks ago saw a material drop in Tungsten’s stock price (over 20%) – a trend that continued early the following week – only to be reversed after a secondary offering that provided support for the stock (at the time of writing, the stock price had rebounded 25% off of its lows). But the initial downward stock movement almost has seemed detached from the revenue results of the business, which the firm said would beat guidance. However, there is other news in the story – much more news, in fact, which is far more interesting than the high-level numbers, or even the stock drop or appreciation. Moreover, just as Ariba was an important stock to watch as a proxy for the sector – and which we profiled when it was independent during most quarters – so, too, is Tungsten in the supplier network and technology-led trade financing market. In this Spend Matters PRO analysis and research brief, we consider some facts and figures surrounding Tungsten’s results and how we read into them from an overall market perspective spanning e-invoicing, invoice discounting and supplier network capabilities.

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