While Citrix management has done a decent job meeting analysts' estimates, the entire virtualization market is going through a transitional period where strategic partnerships with, for instance, Cisco ( CSCO) have been advantageous to both Citrix and VMware. But there are also signs that the market has gotten saturated. To that end, investors should also focus on how Citrix performs in product and license revenue, which have been less than stellar of late. It will be encouraging if Citrix can regain the momentum it demonstrated earlier in the year when that business posted growth of 17%. Last but not least, revenue from license updates will give investors insight to how strong of a pipeline management has built in terms of recurring business. The strength of Citrix's pipeline has (in the past) helped the company offset the weak corporate spending environment. Follow @saintssense This article was written by an independent contributor, separate from TheStreet's regular news coverage.