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No. of Recommendations: 1
Regarding forecast.

They kept FY 980m forecast.

This is despite CARES act extension which they believe cost them about 40m in student loan rev. There was another 12m tied to Apex which no longer repeats.

So basically they raised guidance without raising guidance.

Mgmt seems solid on call.

Bank application process is encouraging...still in process. Last filing was march 2021. Not definitive timeline yet...but they want to be a national bank.

Very happy w growth from Galileo business aka tech platform revenue. They had on-prem and have been building out cloud based deployments. New partners will be onboarded straight to cloud.

Dreamer
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