LSYN just filed a 10-Q for Q2. Some highlights:
1. Revenues flat sequentially to $2.499M, and up 17.6% YOY. LibSyn4 and LibSyn Pro were strong contributors (up 17% and 21% yoy, respectively). Advertising only up 7% yoy. App sales down 32% yoy.
2. After stripping out the stock comp impact, opex up $48k (up 6.5%) sequentially to $784k.
3. Company bought back 40,000 shares during Q2, but only paid $8K total to do so. Not really sure how they managed to pull this off when the average stock price in the quarter was around $1 per share.
4. Company now has nearly $6.2M of cash on the balance sheet and no bank debt. Still no interest income generated, however.
5. LSYN no longer responsible for Los Angeles lease commitment (Fab Universal released them from the guaranty back in May). Minimum lease commitments over 1 year down to $275k (was $852k in Q1).
6. 6-month operating and free cash flow of $1.310M (up $863K sequentially) and up 9% YOY.
7. DSO's up to 33 days. Accounts receivable growth has been 1.92x that of revenue growth.
Stock still appears very cheap if the cash balances and cash flows are real.
