FORCAS

What Forcas Studio promised, and what happened

Every commitment management made on a call, tracked from the quarter it was made — reaffirmed, revised, diluted or quietly dropped.

Guidance record · Q4 FY26

what the last two calls moved 9 tracked 3 delivered 2 missed 4 open
  • EBITDA Margin delivered said Q4 FY25 Promised: 10% EBITDA, we want to improve on that. Q4 FY26: Full year PAT growth of 58% on 39% revenue growth confirms margin expansion for FY26, fulfilling the promise.
  • Gross Margin missed said Q4 FY25 Promised: Nothing less than 30% of gross margin. 30% is going to be the bottom thing. Q4 FY26: FY26 blended Gross Margin reported at 25%, below the 30% floor.
  • Annual Revenue Growth revised down said Q4 FY25 Promised: 30% to 40% growth every year for the next two years Q4 FY26: Achieved for FY26 with 39% growth. However, guidance for FY27 (the second year of the promise) was revised down to 25-30%.

The rest of the ledger

Above is what the last two calls moved. Pro opens all 9 tracked commitments for Forcas Studio — every quarter's revision, the source quote behind each one, and the topics management has stopped answering.

See what Pro opens