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What: Shares of business software specialist Tangoe (NASDAQ:TNGO) plunged Friday and were down 18% at 1 p.m. after its quarterly results and guidance missed Wall Street expectations.

So what: Tangoe shares have slumped sharply in recent months on concerns over sluggish growth, and poor Q3 results -- loss of $4.5 million on a revenue increase of just 3.9% -- coupled with downbeat full-year guidance only reinforces those worries. In fact, Tangoe's adjusted EBITDA margin for the quarter shrank to 5.5% versus 15.9% in the year-ago period, giving analysts plenty of negative vibes over the company's cost structure and competitive position going forward.

Now what: Management now sees full-year 2015 EPS of $0.34-$0.35 on revenue of $220 million-$221.3 million, well below the analyst consensus of $0.55 and $228.2 million, respectively. "While we continued to experience sales execution challenges and remain in a period of product transition, the company has made progress on taking the necessary steps to increase revenue over time," said CEO Al Subbloie. "We believe that Tangoe is in a position to grow market share longer-term due to the roll out of our new and enhanced Matrix platform." When you couple Tangoe's operational headaches with its particularly shaky competitive position, however, I wouldn't be too quick to bet on it. 

Brian Pacampara has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.