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ACDC...Recent insider buying...
https://www.nasdaq.com/market-activity/stocks/pfhc/sec-filings
FTK...Recent insider buying...
https://www.nasdaq.com/market-activity/stocks/ftk/sec-filings
CXDO...Steve Mihaylo bought another 43700 shares @ $1.87...
https://ih.advfn.com/stock-market/NASDAQ/crexendo-CXDO/stock-news/91360293/statement-of-changes-in-beneficial-ownership-4
CXDO...Yea, big position. Remember though I was getting slammed on all 3 of my biggest positions (CXDO, ACDC, FTK) approx 8-10 wks ago...
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=171771411
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=171522634
So my CXDO position got that big by averaging down on almost every drop. Started buying in the low $2's and bought as low as $1.299. Average cost is now approx $1.67. Also, CXDO is up 47% over the past month so that move has really inflated it's percentage of my portfolio.
Thanks on FTK & ACDC.
I've already locked in a little CXDO profit and plan on moving things around as time goes by. Hope they announce a good increase in total users this year which should help get the price more into the mid $2's.
The insider buying has really helped build confidance, as it has in ACDC & FTK also.
(ACDC has huge potential also and I'm thinking they will announce a dividend this year).
BTW, I also still hold a decent position in CSPI and started addind back some CLMB along with starting new positions in a few others.
CXDO...Back on a roll...Lots of insider buying. Crexendo will probably be reporting an increase in total users shortly after mid-year. Should see an increase of over 27% since beginning of 2023 (based on previous comments made by management).
CXDO is over 1/3 of my portfolio w/ FTK & ACDC my 2nd and 3rd largest holdings.
https://ih.advfn.com/stock-market/NASDAQ/crexendo-CXDO/chart
FTK...Flotek Promotes President Ryan Ezell to CEO
Dr. Ezell Brings Over Two Decades of Leadership and Operating Experience in the Energy Industry
Interim CEO Harsha V. Agadi To Be Appointed Non-Executive Chairman of the Board and Will Assist with the Leadership Transition
HOUSTON, June 7, 2023 /PRNewswire/ -- Flotek Industries, Inc. ("Flotek" or the "Company") (NYSE: FTK), a leader in technology-driven specialty green chemistry and data analytics solutions, today announced that President Ryan Ezell has been named Chief Executive Officer of Flotek and will join the Board of Directors, effective June 8, 2023. He succeeds interim CEO Harsha V. Agadi, who has been elected Non-Executive Chairman of the Board, effective June 8, 2023, succeeding David Nierenberg, who will remain on the Board and serve on the Audit, Corporate Governance & Nominating, Compensation and Risk & Sustainability Committees.
Mr. Agadi said, "Ryan is the right leader for Flotek's future. With hands-on experience across different areas of the Company, Ryan brings unique and deep strategic, operational, and customer knowledge that equip him to drive Flotek's continued growth for the benefit of our shareholders, customers, and employees. His leadership over the past few months has helped put the Company in a strong position to achieve our previously disclosed full-year 2023 guidance of $210 million to $230 million in revenue and an adjusted gross profit margin of 8% to 10%. I look forward to working with Ryan to ensure a seamless transition."
Mr. Nierenberg, the former Non-Executive Chairman and second-largest shareholder of Flotek, said, "On behalf of the entire Board, I am thrilled to welcome Ryan as the next CEO of Flotek, following a thorough and competitive search process involving both internal and external candidates. We are confident that Ryan's proven record of success and deep understanding of the business and energy industry make him the ideal leader to capture attractive market opportunities and take the Company into its next phase of profitable growth. We thank Harsha for his outstanding leadership as we worked to identify our permanent CEO.
"I also want to congratulate Harsha on his election as Non-Executive Chairman of the Board. His recent successful experience leading the Company will be invaluable to his new role. I'm pleased to be remaining on the Board and look forward to working with Harsha, my fellow Directors, and Ryan's team as he launches Flotek's next chapter of success and value creation."
Under Mr. Agadi's leadership as interim CEO, the Company recorded a 273% increase in first quarter 2023 total revenue compared to the same period in the prior year. This growth reflects significant progress toward becoming the collaborative partner of choice for sustainable optimized chemistry and integrated data solutions for energy companies across the globe.
Dr. Ezell said, "Over the past few months, I have worked closely with Harsha to co-develop Flotek's growth strategy. We are already seeing momentum at the Company, with strong gross profit growth in the first quarter – but that is just the beginning. Today, Flotek is better positioned than ever before to bring affordable, sustainable energy to more customers around the world. I look forward to building on our strong foundation to drive growth and increased shareholder value over the coming years."
About Ryan Ezell
With a career spanning more than 20 years in the energy industry, Dr. Ezell brings extensive international and multiple business segment experience. He has managed a business with revenues exceeding $2.8 billion and teams of over 5,500 employees, and has a proven track record of driving profit and growth in many market environments.
Dr. Ezell has served as both President and Chief Operating Officer of Flotek, during which he engineered and executed a strategic turnaround, resulting in contracts that grew revenue more than 3X from 2021 to 2022, and increased revenue backlog to over $2.1 billion. Prior to that, he was the President of Flotek's Chemistry Technologies segment, where he led a shift in the chemistry technologies portfolio and an evolution of the business' strategy that resulted in growth that outpaced the market and market share gains of over 10X in a year. He began his tenure at Flotek as Senior Vice President of Operations, during which he drove an operational restructuring that led to a 60%+ reduction in costs across manufacturing, logistics, field service, delivery, facilities, and personnel.
Prior to joining Flotek, Dr. Ezell held various leadership roles over the course of a decade at Fortune 500 global energy company Halliburton, where he drove strategy and growth, contributed to merger and acquisition strategies, and implemented change management. He also served as a member of Haliburton's Technology Review Board and a member of the Board on four company joint ventures.
Dr. Ezell has a Ph. D. in Polymer Science from the University of Southern Mississippi and a Bachelor of Science in Chemistry from Millsaps College. He is a published scientist and is an author on more than 26 patents.
CXDO...Crexendo to present today @ 7PM EST at LD Micro Invitational XIII
https://finance.yahoo.com/news/crexendo-present-ld-micro-invitational-203000782.html
ISUN...iSun Inc. Reports Significant Stock Purchases by Senior Management
Company re-affirms full year revenue guidance of $95-100 million, a 24-31% increase over 2022
WILLISTON, Vt., May 26, 2023--(BUSINESS WIRE)--iSun, Inc. (NASDAQ: ISUN) (the "Company," or "iSun"), a leading solar energy and clean mobility infrastructure company with 50 years of experience accelerating the adoption of innovative electrical technologies, today announced that Jeffrey Peck, Chairman and CEO, and John Sullivan, Chief Financial Officer, have each purchased 50,000 shares of iSun common stock on the open market, thus together buying 100,000 shares at a total price of $52,808, or an average cost of $0.53 per share, reinforcing their confidence in the company’s progress and opportunities ahead.
Said Mr. Peck, "Building on the transformational year of 2022, we’re thrilled that 2023 is off to a strong start for iSun, with first quarter revenue growth of 15% and a 30% reduction in operating expenses – all supporting our targets of increasing our revenue this year by 24-31% and attaining adjusted EBITDA profitability. John and I believe that iSun is performing very well across our market segments, and we view the current stock price as not reflecting our current or potential value."
He continued, "With the power of the Inflation Reduction Act providing 10-year support for alternative energy tax treatment, we anticipate that the best is yet to come for iSun. In the first quarter this year, we’ve already won $32 million in new contracts for both solar and EV infrastructure projects. Our teams are reaching peak productivity, with a backlog of $178.8 million as of March 31, 2023, and that provides us with confidence that we will achieve our outlook for 2023. iSun is indeed well positioned to generate sustainable, profitable long-term growth, for the benefit of its customers, shareholders and employees."
HaHa...I like #13
CXDO...On May 16, 2023, Crexendo, Inc. (the “Company”) entered into a Purchase and Sale Agreement (the “Agreement”) with Nectar Equities, LLC (the “Buyer”) for the sale of the Company’s office building located at 1615 S 52nd St Tempe, AZ 85281 , which was previously reported as an asset in the Company’s property, plant, and equipment in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022.
The purchase price for the building is Four Million Fifty Thousand Dollars (US) ($4,050,000.00), subject to certain adjustments as specified in the Agreement. The transaction is expected to close in the next 120 days, subject to the satisfaction of customary closing conditions. The property is subject to a mortgage loan with Bank of America, N.A. and has an approximate balance amount owed of $1,767,490.88, which will be paid in full on closing.
The Company has been granted the right to lease back the premises for a period of at least twelve months and up to 18 months after closing.
https://ih.advfn.com/stock-market/NASDAQ/crexendo-CXDO/stock-news/91130795/current-report-filing-8-k
CXDO...Did you see all the insider buying?...Up over 40% last week...
https://www.nasdaq.com/market-activity/stocks/cxdo/sec-filings
CXDO....Posted the wrong presentation. Here's the correct one....
https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&ref=317502414&type=HTML&symbol=CXDO&cdn=15b3a1ab9b678a2ac3dd799e34b9ed47&companyName=Crexendo+Inc.&formType=8-K&formDescription=Current+report+pursuant+to+Section+13+or+15%28d%29&dateFiled=2023-05-18
CXDO... The stock was so undervalued trading in the $1.30's and I think once people seem some insider buying they didn't want to be left behind. That's all I can think of.
Still holding all my shares. I took such advantage of the low stock price when it was down I'm having a hella' good week. Needed it though because my largest three holdings have been down this year.
CXDO... Backside of $2. NICE.
DTST... I like this one gp22. Been accumulating it slowly in the $1.80's and low $1.90's for the last week or two since their latest earnings report. I found it while doing research on CXDO.
Going to stick with it and keep accumulate on dips.
CSPI...Joe Nerges back to buying/adding shares...
https://ih.advfn.com/stock-market/NASDAQ/csp-CSPI/stock-news/91082255/statement-of-changes-in-beneficial-ownership-4
ACDC...ProFrac Holding Corp. Executive Chairman and CEO Decline Restricted Stock Units
WILLOW PARK, Texas, May 15, 2023 /PRNewswire/ -- ProFrac Holding Corp. (NASDAQ: ACDC) ("ProFrac" or the "Company") announced today that Executive Chairman, Matt Wilks, and Chief Executive Office, Ladd Wilks, elected to decline approximately 42% of their recently awarded restricted stock units (RSUs) that were earned through ProFrac Holding Corp.'s 2022 Long Term Incentive Plan.
Jointly, Messrs. Wilks stated, "In early April, we rejected approximately 42% of our respective restricted stock unit grants to ensure the value of the grant more closely aligns with what we believe is the intrinsic value of our stock and not the current trading price. We believe the stock is undervalued and don't believe the fundamentals are driving the recent decline in the stock trading price."
https://finance.yahoo.com/news/profrac-holding-corp-executive-chairman-201500933.html
CXDO...Finally some insider buying (from the CEO)...
https://ih.advfn.com/stock-market/NASDAQ/crexendo-CXDO/stock-news/91064151/statement-of-changes-in-beneficial-ownership-4
CXDO...CC NOTES...
(Trading in the low to mid $1.40's yesterday and this morning. Current market cap = $38M)
- New CEO, Jeffery Korn, is extremely focused on increasing profitability. Has implemented widespread restrictions on discretionary spending companywide. Crexendo has sufficient staff so no need for substantial hiring. They're open to replacing essential positions though. They will run a lean and effective organization while strategically expanding.
- Working on a realignment plan. Very encouraged by what they're working on but not quite ready to discuss too much of it yet.
- Good on cash and not worried about cash burn. Expects positive cash from operations this year.
- Extremely pleased with the results they saw in Q1 regarding international efforts.
- Crexendo now has a hybrid work force which is working out well for them and has increased productivity. They have a letter of intent in place to sell their Tempe corporate office for approx $2M.
- Integrating the Allegiant acquisition into both corporate and direct operations and expects to see significant financial & operational efficiencies over the next 3 quarters.
- Crexendo has begun integrating AI into their work streams.
- Back log = $47.8M, an 11% sequential increase. (Backlog #'s do not include the Allegiant acquisition). Crexendo is anticipating Allegiant's backlog numbers to be in their Q2 report.
- Continues to see strong demand & growth in the UCaas industry.
- Estimates hitting 3.4M users by mid year after recently surpassing 3M users in Feb. (Nice growth, 13% increase over the past 5 months if they hit those #'s).
- Crexendo is positioned extremely well. Anticipating a banner year.
- Extremely excited about the pipeline of opportunities and the amount of opportunities that exist on the horizon for the recent Allegiant acquisition.
https://finance.yahoo.com/news/q1-2023-crexendo-inc-earnings-122302549.html
IMMR...Great insight. Thanks hweb.
PCTI...Thanks for the info nelson. Something to watch. You have always said PCTI is a buyout target and it makes sense. You never know.
And I agree, Q2 outlook is way softer than I expected.
I sold some PCTI to add more CXDO. Will more than likely add those PCTI shares back on dips.
IMMR...hweb, IMMR looks good below $7. Did you find any concerns? The interest income should continue.
Also, there is news out that Sony is working on a PS5 Pro.
ACDC... Positive forward comments in the cc. Also, there will more than likely be an upcoming share buy back and or dividend.
ACDC...Came in light...ProFrac Holding Corp. Reports First Quarter 2023 Financial and Operational Results
WILLOW PARK, Texas, May 9, 2023 /PRNewswire/ -- ProFrac Holding Corp. (NASDAQ: ACDC) ("ProFrac", or the "Company") today announced financial and operational results for its first quarter ended March 31, 2023.
First Quarter 2023 Results and Recent Highlights
Total revenue grew approximately 7% sequentially to $851.7 million over 2022 fourth quarter revenue
Net income declined approximately 48% sequentially to $59.8 million
Adjusted EBITDA(1) excluding Flotek declined approximately 5% sequentially to $255.0 million
Annualized Adjusted EBITDA per fleet(2) excluding Flotek was $25.1 million on 40.7 average active fleets during the quarter
The Company did not adjust for approximately $20 million of costs related to the conversion, optimization and retirement of certain acquired assets and businesses; excluding these costs Annualized Adjusted EBITDA per fleet excluding Flotek would have been approximately $27 million
First quarter results include the consolidation of Flotek results which contributed $49.2 million in revenue and a loss of ($7.9) million in Adjusted EBITDA
Following the acquisition of Performance Proppants, ProFrac is the largest provider of in-basin sand in North America
Matt Wilks, ProFrac's Executive Chairman, stated, "We are pleased to report that ProFrac delivered solid operational and financial results for the first quarter of 2023. Once again, we generated strong revenues and Adjusted EBITDA as we continue to execute on our strategy. I am proud of what this team has accomplished and excited to realize the full potential of this business as we move forward."
"During the first quarter, ProFrac incurred substantial costs related to our recent acquisitions of U.S. Well Services, Monarch Silica, REV, Performance Proppants and Producers. Management estimates that the Company incurred over $20 million of expenses associated with the optimization of these businesses, as well as with upgrading, standardizing and retirement of certain acquired assets. Because ProFrac is able to integrate acquired businesses so swiftly we recognize both the commercial and operational synergies as well as the associated integration expenses on an accelerated basis. As noted, we believe the profitability of the business was impacted while initiating our long-term integrated commercial strategy. While we are proud of the performance posted by the Company in the first quarter, we believe the earnings power of the business is much stronger than indicated by our first quarter financial results and believe the true potential will be recognized in the coming quarters."
Ladd Wilks, ProFrac's Chief Executive Officer, added, "In spite of integration costs, I'm proud to report that ProFrac increased revenue by 7% in a difficult commodity price environment. Our strategic priority has been and will continue to be increasing the number of fully integrated fleets that we operate, which in turn improves our value proposition to our customers. Our position as the leading producer of in-basin sand and one of the largest frac service providers is unique, and we look forward to demonstrating the earnings power of this combination."
First Quarter 2023 Financial Results
For the first quarter of 2023, consolidated revenues totaled $851.7 million, up approximately 7% sequentially. The increase was driven by a higher average active fleet count and material sales, partially offset by lower efficiencies during the quarter related to transitory commodity price headwinds.
Selling, general, and administrative costs were $76.3 million in the first quarter, of which $11.4 million related to Flotek and $13.1 million related to stock-based compensation. Excluding Flotek and stock-based compensation, selling, general, and administrative costs totaled $51.8 million.
Net income for the first quarter declined 48% sequentially to $59.8 million, or $0.40 per share of the Company's Class A common stock. Excluding the operating results attributable to Flotek, net income totaled $64 million.
In the first quarter, Adjusted EBITDA decreased 6% from the prior quarter and totaled $247.1 million. Excluding the operating results attributable to Flotek, Adjusted EBITDA totaled $255 million, or $25.1 million per average active fleet on an annualized basis.
Operating cash flow was $233.5 million in the first quarter, an increase of 47% from the previous quarter. Approximately $48.1 million was generated from a liquidation of working capital.
Outlook
As the Company looks towards the balance of 2023, ProFrac will pursue a similar disciplined approach as demonstrated by its E&P customers. The Company's focus is on optimizing recent transactions to maximize the generation of discretionary free cash flow. Moving forward, ProFrac will continue to react to market conditions to help ensure the Company's ability to earn its targeted rates of return and position the business to maximize shareholder returns.
Business Segment Information
The Stimulation Services segment generated revenues of $790.2 million in the first quarter of 2023, which resulted in $205.7 million of Adjusted EBITDA.
The Proppant Production segment generated revenues of $82.2 million in the first quarter of 2023, which resulted in $41.3 million of Adjusted EBITDA. Approximately 39% of the Proppant Production segment's revenue was intercompany.
The Manufacturing segment generated revenues of $67.1 million in the first quarter of 2023, which resulted in $8.0 million of Adjusted EBITDA. Approximately 95% of the Manufacturing segment's revenue was intercompany.
Our Other Business Activities generated revenues of $49.2 million in the first quarter of 2023, which resulted in a loss of ($7.9) million of Adjusted EBITDA. Approximately 76% of the Other Business Activities' revenue was intercompany. The Other Business Activities solely relate to the results of Flotek.
Capital Expenditures and Capital Allocation
Cash capital expenditures totaled $83.2 million in the first quarter, excluding acquisitions. This is expected to accelerate over the next two quarters given the projected timing of project completions and cash outlays. During the first quarter, the Company continued to pursue various growth initiatives, specifically the construction of four e-fleets and the previously announced engine upgrade program, which will convert many legacy pumps to next generation technology. ProFrac will remain disciplined with capital allocation and the Company expects to reduce capex spend based on total fleet activity levels to ensure it maintains return thresholds on all capital investment.
Balance Sheet and Liquidity
Total gross debt outstanding as of March 31, 2023 was $1,291.2 million, $0.4 million of which was attributable to Flotek. Gross debt outstanding excluding amounts attributable to Flotek was $1,290.8 million, compared to $941.4 million as of December 31, 2022.
Total cash and cash equivalents as of March 31, 2023, excluding Flotek, was $57.5 million
As of March 31, 2023, and excluding amounts attributable to Flotek, the Company had $169 million of liquidity, including $57.5 million in cash and cash equivalents and $111.5 million of availability under its asset-based credit facility, excluding letters of credit outstanding.
Footnotes
(1) Adjusted EBITDA is a financial measure not presented in accordance with generally accepted accounting principles ("GAAP") (a "Non-GAAP Financial Measure"). Please see "Non-GAAP Financial Measures" at the end of this news release.
(2) Adjusted EBITDA per fleet is a Non-GAAP Financial Measure. Please see "Non-GAAP Financial Measures" at the end of this news release.
Conference Call
ProFrac has scheduled a conference call on Wednesday, May 10, 2023 at 11:00 a.m. Eastern time / 10:00 a.m. Central time. Please dial 412-902-0030 and ask for the ProFrac Holding Corp. call at least 10 minutes prior to the start time of the call, or listen to the call live over the Internet by logging on to the website at the address https://ir.pfholdingscorp.com/news-events/ir-calendar. A telephonic replay of the conference call will be available through May 17, 2023 and may be accessed by calling 201-612-7415 using passcode 13735082#. A webcast archive will also be available at the link above shortly after the call and will be accessible for approximately 90 days
CSPI...Nice report and they inched up the dividend...CSP Inc. Momentum Continues During Fiscal Second Quarter With 11% Revenue Growth and Diluted Earnings per Common Share of $0.07 Compared to $0.03 in the Prior Fiscal Year Second Quarter, Quarterly Dividend of $0.04 per Share Declared
Backlog Exceeds $22 Million as Demand for Award-Winning Products and Services Remain High
Recurring Revenue Increased 25% from Prior Year Second Quarter
LOWELL, MA / ACCESSWIRE / May 10, 2023 / CSP Inc.
CSPI, an award-winning provider of security and packet capture products, managed IT and professional services and technology solutions, today reported fiscal 2023 second quarter revenue grew 11% while diluted earnings per common share increased to $0.07 compared to $0.03 in the prior year second quarter. The company also announced that its Board of Directors has declared a 33% increase in the quarterly dividend, from $0.03 per share to $0.04 per share payable June 13, 2023 to shareholders of record on the close of business on May 25, 2023.
Fiscal Second Quarter Operating Highlights and Recent Achievements
Recurring revenue increased 25% compared to the year-ago fiscal second quarter
Technology Solutions and High-Performance Products businesses generated 9% and 29% revenue growth for the fiscal second quarter compared to the prior year second quarter
Diluted earnings per share of $0.07 increased by $0.04 compared to the prior year second quarter
Increased sales of higher margin products and services led to gross margin of 37.6% for the quarter, a 2.5% increase over the prior year second quarter
Backlog, without any of the backlog being recorded as net revenue, as of March 31, 2023 was $22.0 million
"Our fiscal second quarter results were slightly ahead of our internal plan and we are optimistic that we will achieve profitable results for second half of the year with our backlog and continued success with our customers and prospects," commented Victor Dellovo, Chief Executive Officer. "Our Technology Solutions and High-Performance Products businesses each grew significantly over the year-ago period.
We continue to build a pipeline of multi-million-dollar order opportunities. The exact timing of these orders is often fluid and reinforces our strategy to build recurring services revenue. During the quarter, our recurring revenue grew to approximately 16% of total revenue. At the same time, we continue to invest significant resources in new product development addressing cyber-security threats and customer needs. ARIA, which is the latest example of our R&D efforts, has fourteen customers, each of which generates reliable monthly revenue."
Fiscal Year 2023 Second Quarter Results
Revenue for the fiscal 2023 second quarter was $13.3 million, an 11% increase, compared to $12.0 million in the year-ago fiscal second quarter as the Company continued to successfully manage the business and deliver growth during the current economic environment and disruption due to continued supply chain issues with some system component providers. Gross profit for the fiscal second quarter was $5.0 million, or 37.6% of sales, compared with $4.2 million, or 35.1% of sales in the year-ago fiscal second quarter. The Company's focus on higher margin products and services enabled gross margin expansion of 2.5% compared to the 2022 fiscal second quarter. The Company reported net income of $0.3 million in the fiscal 2023 second quarter and diluted earnings per common share of $0.07 compared to net income of $0.2 million and diluted earnings per common share of $0.03 for the fiscal second quarter of fiscal 2022.
The Company had cash and cash equivalents of $13.3 million as of March 31, 2023, compared with cash and cash equivalents of $24.0 million as of September 30, 2022. The lower amount is primarily due to timing of paying a significant amount of accounts payable prior to quarter-end including a previously referenced large financing customer sale recognized in the fourth quarter of fiscal year 2022 but the cost was paid in the first quarter of fiscal year 2023, combined with moving $3.5 million into short-term held-to-maturity investments.
Fiscal Year 2023 Six Month Results
Revenue for the six months ended March 31, 2023 was $31.6 million, a 30% increase, compared with revenue of $24.4 million in same prior year period. Gross profit for the fiscal six months ended March 31, 2023 was $10.8 million, or 34% of sales, compared with $7.8 million, or 32% of sales, reflecting a more favorable product mix. The Company reported net income of $1.3 million and diluted earnings per common share of $0.27 in the fiscal six months ended March 31, 2023 compared with a net loss of $(0.2) million and diluted loss per common share of $(0.05) for the six months ended March 31, 2022.
Conference Call Details
CSPi Chief Executive Officer Victor Dellovo and Chief Financial Officer Gary W. Levine will host a conference call at 10:00 a.m. (ET) today, May 10, 2023, to review CSPi's financial results and provide a business update. To listen to a live webcast of the call, the event link is https://www.webcaster4.com/Webcast/Page/2912/48374. Individuals may also listen to the call via telephone, by dialing 888-506-0062 or 973-528-0011 and use the Participant Access Code: 661658 when greeted by the live operator. For interested parties unable to participate in the live call, an archived version of the webcast will be available for approximately one year on CSPi's website.
CXDO...Strong topline growth w/ $0.02 adj EPS...Crexendo Announces First Quarter 2023 Results
PHOENIX, AZ / ACCESSWIRE / May 9, 2023 / Crexendo, Inc.
CXDO, an award-winning premier provider of cloud communication platform and services, video collaboration and managed IT services designed to provide enterprise-class cloud solutions to any size business, today announced financial results for the first quarter ended March 31, 2023.
First Quarter Financial highlights:
Total revenue increased 53% year-over-year to $12.5 million
GAAP net loss of $(1.6) million, or $(0.06) per basic and diluted common share
Non-GAAP net income of $625,000, or $0.02 per basic and diluted common share
Financial Results for the First Quarter of 2023
Consolidated total revenue for the first quarter of 2023 increased 53%, or $4.3 million, to $12.5 million compared to $8.2 million for the first quarter of 2022. The Allegiant Networks business acquisition contributed $3.1 million to the consolidated total revenue in the first quarter of 2023.
Consolidated service revenue for the first quarter of 2023 increased 63%, or $2.8 million, to $7.2 million compared to $4.4 million for the first quarter of 2022. The Allegiant Networks business acquisition contributed $2.6 million to the consolidated service revenue in the first quarter of 2023.
Consolidated software solutions revenue for the first quarter of 2023 increased 26%, or $840,000, to $4.1 million compared to $3.3 million for the first quarter of 2022.
Consolidated product revenue for the first quarter of 2023 increased 149%, or $733,000, to $1.2 million compared to $492,000 for the first quarter of 2022. The Allegiant Networks business acquisition contributed $526,000 to the consolidated operating expenses in the first quarter of 2023.
Consolidated operating expenses for the first quarter of 2023 increased 47%, or $4.5 million, to $14.1 million compared to $9.6 million for the first quarter of 2022. The Allegiant Networks business acquisition contributed $3.4 million to the consolidated product revenue in the first quarter of 2023.
The Company reported net loss of $(1.6) million for the first quarter of 2023, or a $(0.06), loss per basic and diluted common share, compared to net loss of $(1.2) million, or $(0.05) loss per basic and diluted common share for the first quarter of 2022.
Non-GAAP net income of $625,000 for the first quarter of 2023, or $0.02 per basic and diluted common share, compared to non-GAAP net income of $405,000 or $0.02 per basic and diluted common share, for the first quarter of 2022.
EBITDA for the first quarter of 2023 was $(666,000) compared to $(774,000) for the first quarter of 2022. Adjusted EBITDA for the first quarter of 2023 was $749,000 compared to $302,000 for the first quarter of 2022.
Total cash and cash equivalents at March 31, 2023 was $3.7 million compared to $5.7 million at December 31, 2022.
Cash used for operating activities for the first quarter of 2023 was $(1.6) million compared to $(1.7) million used for the first quarter of 2022. Cash used for investing activities for the first quarter of 2023 was $(9,000) compared to $(34,000) used for the first quarter of 2022. Cash used for financing activities for the first quarter of 2023 was $(203,000) compared to cash provided by financing activities of $3,000 for the first quarter of 2022.
"Our strong topline performance in the first quarter was the result of continued execution from our legacy business as well as our recent acquisitions," said Crexendo Chief Executive Officer Jeff Korn. "We had very strong organic growth in our Software Solutions segment of 26% year over year as we continue to see strong demand for our platform offering. We remain concentrated on successfully integrating the acquired companies and are leading new initiatives designed to drive even greater organic growth and bottom line results for our combined organization. At the same time, we continue to make great strides in improving the operational efficiency of our business as we build a lean infrastructure that is capable of supporting our growth goals."
"Product-wise, we have continued to increase both the quality and quantity of our offerings, supporting our expanded sales efforts to drive additional revenues through new sales to new customers and add-on sales to existing customers. Entering the second quarter, we are prioritizing the profitability of the business and are cutting expenses where necessary to maintain a strong financial footing. We look forward to building on our momentum and further cementing our position as a leading provider in the UCaaS industry. I am convinced we are on the right track and our results will be very impressive."
Conference Call
Crexendo management will hold a conference call today, May 9, 2023, at 4:30 PM Eastern time to discuss these results.
Company CEO Jeff Korn, CFO Ron Vincent, and President and COO Doug Gaylor will host the call, followed by a question-and-answer period.
CXDO...A prelude to Q1 & FY2023 results???...
"When I look at the end of the year results (that we announced last month), and we have our Q1 results coming out, I couldn't be more excited."
"Our goal is to hit 4M users by the end of the year."
4M users by year end would be record growth."
This video was released yesterday...
ACDC...Earnings tomorrow in the AM. Looking forward to the report and cc. Another one I have built a good position in as the bottom fell out from under it over the past couple months.
CSPI...I'm ready for CSPI and actually added back more shares in the mid $12's. So I have a nice position. Looking forward to earnings tomorrow.
CXDO...Reports today. Are you in BTuna? I added more in the mid and low $1.40's this morning. Huge part of my portfolio now after adding all the way down as low as $1.30. Haven't sold 1 share since restarting this position back in December.
If/when CXDO gets back over $2, I'll be looking at a hella profit. (Would be nice but you never know).
We'll see how things look after the close.
FTK...From the cc...Window for insiders to buy will open after news of new CEO & ABL loan. Flotek is pushing to get the news out shortly.
FTK...The share count was discussed in one of Flotek's Water Tower Research presentations. QE 6/2023 will show just under 200M shares once all notes are converted later this month (if I remember right). Balance sheet will be clean w/ low to no debt.
Fully diluted market cap (using a 200M share count) is currently approx $134M.
Lots of growth ahead so we'll see what happens.
FTK...Insider buying window opens this week and new CEO should be announced by end of next month according to comments made in the Water Tower Research presentation a couple weeks ago.
cc should be interesting.
Had my Flotek ass kicked the past couple months but was able to acquire more as low as in the $0.50's and low $0.60's.
FTK up 14% pre-market. Hope it holds and keeps going
FTK...Not too shabby...FLOTEK REPORTS POSITIVE GROSS PROFIT FOR FIRST QUARTER 2023 AND INITIATES 2023 GUIDANCE
https://ih.advfn.com/stock-market/NYSE/flotek-industries-FTK/stock-news/90991487/flotek-reports-positive-gross-profit-for-first-qua
HOUSTON, May 8, 2023 /PRNewswire/ -- Flotek Industries, Inc. ("Flotek" or the "Company") (NYSE: FTK) today announced operational and financial results for the first quarter ended March 31, 2023.
Full Year 2023 Outlook
Flotek has initiated full year 2023 guidance for revenue of $210 million to $230 million and an Adjusted Gross Profit margin of 8% to 10%. Adjusted Gross Profit(1) excludes non-cash costs, including contract amortization.
First Quarter 2023 Highlights
Reached positive gross profit for the first quarter of 2023, representing an almost 200% increase sequentially and growth of nearly 500% from the year-ago quarter.
Increased revenue by more than 270% from the first quarter of 2022 primarily as a result of Flotek's strategic 10-year supply agreement with ProFrac Holdings, LLC ("ProFrac").
Realized 135% revenue growth in the Company's Data Analytics business versus first quarter of 2022. First quarter 2023 revenue totaled $2.5 million, representing 45% of total Data Analytics revenue for all of 2022.
Increased the average number of ProFrac fleets serviced from 17 in the fourth quarter of 2022 to 19 in the first quarter of 2023.
Achieved approximately 12% market share of the active U.S. frac fleets by the end of the first quarter of 2023. Flotek remains well positioned to capture additional market share as a result of its anticipated expanded scope of work with ProFrac and strategic business development efforts with other customers, supported by the Company's unique product and service offerings.
Management Commentary
Harsha V. Agadi, Interim Chief Executive Officer for Flotek, stated, "Our first quarter results reflect the continued progress we are making to be the collaborative partner of choice for sustainable optimized chemistry and data solutions. Importantly, we achieved a $3.2 million improvement in adjusted gross profit, as compared to the fourth quarter, on nearly identical revenue, which demonstrates the continuing underlying improvement we are achieving in margins. The first quarter represents an inflection point for gross profit. With support from additional revenue opportunities and targeted cost reduction initiatives, we remain focused on reaching positive adjusted EBITDA during 2023."
First Quarter 2023 Financial Results
Revenue: Flotek recorded first quarter 2023 total revenue of $48.0 million compared to $48.2 million for the fourth quarter of 2022 and $12.9 million for the first quarter of 2022 – a 273% increase. Contributing to the year-over-year growth was the Company's 10-year supply agreement with ProFrac and continued growth in the Company's other Chemistry Technologies and Data Analytics product and service offerings. First quarter 2023 revenue remained flat sequentially, despite the industry's seasonal slow-down in well stimulation operations early in the quarter.
Gross Profit (Loss): The Company generated a gross profit of $1.9 million versus a gross loss of $2.1 million for the fourth quarter of 2022 and a gross loss of $0.5 million for the first quarter of 2022. The substantial improvement in gross margin was the result of pricing improvements, freight cost reductions and the Company's initiatives to drive further efficiencies in the business, including focusing its efforts on leveraging the scale of its ProFrac business to drive margin enhancement.
Adjusted Gross Profit (Loss) (Non-GAAP): Flotek generated an adjusted gross profit of $2.6 million compared to adjusted gross losses of $0.5 million and $0.2 million for the fourth and first quarters of 2022, respectively. Adjusted gross profit (loss) primarily excludes non-cash items, including amortization of contract assets, which reduces both revenue and gross profit.
Selling, General and Administrative ("SG&A") Expense: The Company's SG&A expense was $6.5 million for the first quarter of 2023 compared to $5.8 million for the fourth quarter of 2022 and $4.9 million for the first quarter of 2022. First quarter 2023 SG&A included higher non-recurring legal fees, offset by lower stock compensation costs. In addition, fourth quarter 2022 SG&A benefited from a $1.5 million reversal of an accrued discretionary bonus.
Severance Costs: Flotek recorded $2.2 million in separation costs in the first quarter of 2023, which was associated with the departure of the Company's previous CEO and other management level headcount reductions implemented in the period.
Net Income (Loss) and EPS: Flotek reported net income of $21.3 million, or $0.22 per basic share, for the first quarter of 2023. This is compared to a net loss of $19.0 million, or $0.25 per basic share, for the fourth quarter of 2022 and a net loss of $10.7 million, or $0.15 per basic share, in the first quarter of 2022. Net income during the first quarter of 2023 benefited from a $26.1 million non-cash gain related to the fair value adjustment of the Company's convertible notes, as well as a $4.5 million gain from the forgiveness of the Company's PPP loan.
Adjusted EBITDA (Non-GAAP): Adjusted EBITDA was negative $3.9 million in the first quarter of 2023 versus negative $5.1 million and negative $5.4 million for the fourth and first quarters of 2022, respectively. Adjusted EBITDA continues to trend upward, improving 24% sequentially.
Balance Sheet and Liquidity
Cash and cash equivalents remained stable at $12.4 million as of March 31, 2023, compared to $12.3 million as of December 31, 2022.
Flotek is continuing to pursue asset-based borrowing options. To date, the Company has received four non-binding proposals and is evaluating the various terms and conditions in each of the term sheets.
Conference Call Details
Flotek will host a conference call on May 9, 2023, at 9:30 a.m. CDT (10:30 a.m. EDT) to discuss its first quarter 2023 results. Participants may access the call through Flotek's website at www.flotekind.com under "Webcasts'' or by telephone toll free at 1-844-835-9986 (international toll: 1-412-317-5270) approximately five minutes prior to the start of the call. Following the conclusion of the conference call, a recording of the call will be available on the Company's website.
About Flotek Industries, Inc.
Flotek Industries, Inc. creates unique solutions to reduce the environmental impact of energy on air, water, land and people. A technology-driven, specialty green chemistry and data company, Flotek helps customers across industrial and commercial markets improve their environmental performance. The Company's primary focus is to enable its customers to maximize the value of their hydrocarbon streams and improve return on invested capital through its real-time data platforms and green chemistry technologies. Flotek serves downstream, midstream, and upstream energy customers, both domestic and international. In addition, the Company is positioned to integrate parallel industrial chemistry and data platforms by capitalizing on its digitization, engineering, chemical formulation knowledge, and intellectual property to drive multi-disciplinary advancements in sustainability and enterprise risk management. Flotek is a publicly traded company headquartered in Houston, Texas, and its common shares are traded on the New York Stock Exchange under the ticker symbol "FTK." For additional information, please visit www.flotekind.com.
Forward -Looking Statements
Certain statements set forth in this press release constitute forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934) regarding Flotek Industries, Inc.'s business, financial condition, results of operations and prospects. Words such as will, continue, expects, anticipates, intends, plans, believes, seeks, estimates and similar expressions or variations of such words are intended to identify forward-looking statements, but are not the exclusive means of identifying forward-looking statements in this press release. Although forward-looking statements in this press release reflect the good faith judgment of management, such statements can only be based on facts and factors currently known to management. Consequently, forward-looking statements are inherently subject to risks and uncertainties, and actual results and outcomes may differ materially from the results and outcomes discussed in the forward-looking statements. Further information about the risks and uncertainties that may impact the company are set forth in the Company's most recent filing with the Securities and Exchange Commission on Form 10-K (including, without limitation, in the "Risk Factors" section thereof), and in the Company's other SEC filings and publicly available documents. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this press release.
FLOTEK INDUSTRIES, INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
Three Months Ended
3/31/2023
3/31/2022
12/31/2022
Revenue:
Revenue from external customers
$ 11,652
$ 10,382
$ 15,940
Revenue from related party
36,355
2,497
32,277
Total revenues
48,007
12,879
48,217
Cost of goods sold
46,127
13,358
50,291
Gross profit (loss)
1,880
(479)
(2,074)
Operating costs and expenses:
Selling, general, and administrative
6,451
4,886
5,779
Depreciation
176
195
180
Research and development
614
1,415
922
Severance costs
2,223
(7)
—
(Gain) loss on sale of property and equipment
—
8
(1,000)
Gain on lease termination
—
(584)
—
(Gain) loss in fair value of Contract
Consideration Convertible Notes Payable
(26,095)
3,892
8,941
Total operating costs and expenses
(16,631)
9,805
14,822
Income (loss) from operations
18,511
(10,284)
(16,896)
Other income (expense):
Paycheck protection plan loan forgiveness
4,522
—
—
Interest expense
(1,672)
(668)
(2,465)
Other income (expense) , net
(9)
224
212
Total other income (expense), net
2,841
(444)
(2,253)
Income (loss) before income taxes
21,352
(10,728)
(19,149)
Income tax (expense) benefit
(9)
4
123
Net income (loss)
$ 21,343
$ (10,724)
$ (19,026)
Income (loss) per common share:
Basic
$ 0.22
$ (0.15)
$ (0.25)
Diluted
$ (0.02)
$ (0.15)
$ (0.25)
Weighted average common shares:
Weighted average common shares used in
computing basic income (loss) per
common share
98,808
73,858
75,405
Weighted average common shares used in
computing diluted loss per common share
158,441
73,858
75,405
FLOTEK INDUSTRIES, INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except share data)
March 31, 2023
December 31, 2022
ASSETS
Current assets:
Cash and cash equivalents
$ 12,433
$ 12,290
Restricted cash
101
100
Accounts receivable, net of allowance for credit losses of $645 and
$623 at March 31, 2023 and December 31, 2022, respectively
15,609
19,136
Accounts receivable, related party
26,230
22,683
Inventories, net
15,904
15,720
Other current assets
4,516
4,045
Current contract asset
7,066
7,113
Total current assets
81,859
81,087
Long-term contract assets
71,372
72,576
Property and equipment, net
4,807
4,826
Operating lease right-of-use assets
4,923
5,900
Deferred tax assets, net
410
404
Other long-term assets
17
17
TOTAL ASSETS
$ 163,388
$ 164,810
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable
$ 41,929
$ 33,375
Accrued liabilities
9,870
8,984
Income taxes payable
11
97
Interest payable
—
130
Current portion of operating lease liabilities
3,050
3,328
Current portion of finance lease liabilities
36
36
Current portion of long-term debt
179
2,052
Convertible notes payable
—
19,799
Contract Consideration Convertible Notes Payable
43,800
83,570
Total current liabilities
98,875
151,371
Deferred revenue, long-term
35
44
Long-term operating lease liabilities
7,133
8,044
Long-term finance lease liabilities
13
19
Long-term debt
194
2,736
TOTAL LIABILITIES
106,250
162,214
Stockholders' equity:
Common stock, $0.0001 par value, 240,000,000 shares authorized;
94,613,664 shares issued and 88,170,936 shares outstanding at
March 31, 2023 ; 83,915,918 shares issued and 77,788,391 shares
outstanding at December 31, 2022
9
8
Additional paid-in capital
421,596
388,177
Accumulated other comprehensive income
160
181
Accumulated deficit
(330,176)
(351,519)
Treasury stock, at cost; 6,442,728 and 6,127,527 shares at March 31,
2023 and December 31, 2022 , respectively
(34,451)
(34,251)
Total stockholders' equity
57,138
2,596
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
$ 163,388
$ 164,810
FLOTEK INDUSTRIES, INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
Three months ended March 31,
2023
2022
Cash flows from operating activities:
Net income (loss)
$ 21,343
$ (10,724)
Adjustments to reconcile net income (loss) to net cash provided by (used in)
operating activities:
Change in fair value of contingent consideration
(359)
94
Change in fair value of Contract Consideration Convertible Notes Payable
(26,095)
3,892
Amortization of convertible note issuance costs
83
166
Payment-in-kind interest expense
1,571
485
Amortization of contract assets
1,251
—
Depreciation and amortization
176
195
Provision for credit losses, net of recoveries
23
238
Provision for excess and obsolete inventory
258
310
Gain on sale of property and equipment
—
8
Gain on lease termination
—
(584)
Non-cash lease expense
977
56
Stock compensation expense
(1,112)
739
Deferred income tax (benefit) expense
(6)
(4)
Paycheck protection plan loan forgiveness
(4,522)
—
Changes in current assets and liabilities:
Accounts receivable
3,504
(194)
Accounts receivable, related party
(3,546)
14
Inventories
(441)
(999)
Income taxes receivable
—
(10)
Other assets
(470)
(220)
Accounts payable
8,554
616
Accrued liabilities
1,236
(2,350)
Operating lease liabilities
(1,190)
(214)
Income taxes payable
(87)
—
Interest payable
(8)
12
Net cash provided by (used in) operating activities
1,140
(8,474)
Cash flows from investing activities:
Capital expenditures
(157)
—
Proceeds from sale of assets
—
24
Net cash (used in) provided by investing activities
(157)
24
Cash flows from financing activities:
Payment for forfeited stock options
(617)
—
Payments on long term debt
(15)
—
Proceeds from issuance of convertible notes
—
21,150
Payment of issuance costs of convertible notes
—
(1,084)
Payments to tax authorities for shares withheld from employees
(200)
(59)
Proceeds from issuance of stock
20
—
Payments for finance leases
(6)
(14)
Net cash (used in) provided by financing activities
(818)
19,993
Effect of changes in exchange rates on cash and cash equivalents
(21)
8
Net change in cash and cash equivalents and restricted cash
144
11,551
Cash and cash equivalents at the beginning of period
12,290
11,534
Restricted cash at the beginning of period
100
1,790
Cash and cash equivalents and restricted cash at beginning of period
12,390
13,324
Cash and cash equivalents at end of period
12,433
24,835
Restricted cash at the end of period
101
40
Cash and cash equivalents and restricted cash at end of period
$ 12,534
$ 24,875
FLOTEK INDUSTRIES, INC.
UNAUDITED RECONCILIATION OF NON-GAAP ITEMS AND NON-CASH ITEMS IMPACTING EARNINGS
(in thousands)
Three Months Ended
3/31/2023
3/31/2022
12/31/2022
Gross profit (loss)
$ 1,880
$ (479)
$ (2,074)
Stock compensation expense
(139)
156
85
Severance and retirement
15
3
—
Contingent liability revaluation
(359)
94
81
Amortization of contract assets
1,250
—
1,386
Adjusted Gross profit (loss) (Non-GAAP)
$ 2,647
$ (226)
$ (522)
Net income (loss)
$ 21,343
$ (10,724)
$ (19,026)
Interest expense
1,672
668
2,465
Income tax expense (benefit)
9
(4)
(123)
Depreciation and amortization
176
195
180
EBITDA (Non-GAAP)
$ 23,200
$ (9,865)
$ (16,504)
Stock compensation expense
(1,112)
739
1,062
Severance and retirement
2,238
(4)
—
Contingent liability revaluation
(359)
94
81
(Gain) loss on disposal of assets
—
8
(1,000)
Gain on lease termination
—
(584)
—
Contract Consideration Convertible Notes
Payable revaluation adjustment
(26,095)
3,892
8,941
Amortization of contract assets
1,250
—
1,386
PPP loan forgiveness
(4,522)
—
—
Non-Recurring professional fees
1,549
274
955
Adjusted EBITDA (Non-GAAP)
$ (3,851)
$ (5,446)
$ (5,079)
CSPI...Miami Dolphins today, NFL tomorrow??? ...CSPI is based in Florida so I'm not really expecting the NFL, but it would be nice. Good news none-the-less...
CSPi and Acronis partner with the Miami Dolphins to safeguard team data with cutting-edge cyber protection technology
MIAMI, May 02, 2023 (GLOBE NEWSWIRE) -- Acronis, a global leader in cyber protection, and CSP Inc. (NASDAQ: CSPI), a leading provider of cybersecurity solutions and IT managed services, are pleased to announce their official partnership with the Miami Dolphins. The partnership will enhance the team’s cybersecurity by utilizing Acronis' advanced technology and cyber protection solutions to protect their critical data and systems.
As part of the Acronis #TeamUp Program for service providers and through this partnership, CSPi will be providing the Miami Dolphins with Acronis' cyber protection solutions, including Acronis Cyber Protect Cloud, Cyber Backup, and Advanced Management.
"The Miami Dolphins are excited to partner with CSPi and Acronis, two companies that are leaders in their respective fields, to enhance our cyber security posture," Miami Dolphins Senior Vice President and Chief Revenue Officer Jeremy Walls said. "In collaborating with CSPi and Acronis, we look forward to optimizing on their cutting-edge technology solutions to maximize our IT operations and protect our critical systems."
The partnership will provide the managed service provider (MSP) with powerful sports marketing and business development opportunities including attendance at networking events, case studies, and more.
"Partnering with the Miami Dolphins is a testament to our commitment to delivering top-of-the-line cybersecurity solutions that enable organizations to perform at their best, without worrying about security risks," said Victor Dellovo, CEO of CSPi Technology Solutions. "We are proud to be their Acronis CyberFit Partner, and we are confident that our industry-leading expertise and solutions will help the Miami Dolphins maintain the highest level of performance."
“CSPi Technology Solutions is thrilled to announce our partnership with the Miami Dolphins as their Acronis CyberFit Partner.” emphasized Nick Monfreda, VP of Managed & Strategic Services at CSPi Technology Solutions. “We are excited to work alongside one of the most respected and iconic organizations in professional sports to ensure their cybersecurity needs are met with the most innovative and comprehensive solutions available. This partnership represents a great opportunity for us to showcase our industry-leading expertise and solutions while helping the Miami Dolphins protect their operations and enhance their performance. We look forward to working closely with the team to provide the best-in-class cybersecurity solutions and support they need to achieve their goals.”
The partnership between CSPi, Acronis, and the Miami Dolphins marks a new chapter as it seeks to leverage the latest technology and maintain the highest standards of cyber protection. The partnership will also provide CSPi and Acronis with a unique opportunity to showcase their expertise and capabilities to a global audience of sports fans.
"We are excited to partner with the Miami Dolphins and provide them with Acronis' industry-leading and innovative cyber protection solutions," said Acronis Vice President and General Manager, Americas, Pat Hurley. "We know that sports teams are increasingly relying on technology to drive success, and we are proud to be able to help the Miami Dolphins become #CyberFit."
To learn more about Acronis’ extensive sports partnership program, please visit: https://www.acronis.com/en-us/lp/msp-sports/
About the Miami Dolphins
The Miami Dolphins, owned by Chairman of the Board & Managing General Partner Stephen M. Ross, are the oldest major-league professional sports franchise in the state of Florida, having joined the NFL as part of the AFL-NFL merger in 1970. The organization has played in five Super Bowls, winning championships following the 1972 (VII) and 1973 (VIII) seasons. The franchise also has won five conference championships and 13 division championships. The Dolphins play home games at Hard Rock Stadium and train at the Baptist Health Training Complex in Miami Gardens. For more information, visit Dolphins.com.
About CSPi Technology Solutions (NASDAQ: CSPI)
CSPi Technology Solutions is a solution provider with expertise and service scope that includes managed IT services, professional IT services, and cloud services to architect and manage a high-performance, highly available, and highly secure IT infrastructure for our clients. CSPi partners with technology leaders to deliver innovative IT solutions to address clients' technical requirements that produce desired business outcomes.
CSPi Technology Solutions team of engineers has expertise across major industries. The engineers hold specialized certifications for various technologies, including networking, wireless & mobility, unified communications & collaboration, data center, and advanced security. For more information, please visit www.cspitechsolutions.com.
https://finance.yahoo.com/news/cspi-welcomes-miami-dolphins-acronis-160000528.html
CXDO...SSKILLZ, good points to consider. As for me though, I'm being a little stubborn with this pick because there is good growth ahead (IMO) w/ the stock price currently 22% below book.
I've been adding pretty much daily little by little as CXDO hits new lows. Currently getting crushed but at some point I think this thing will reverse and easily head back over $2. We'll see what happens.
Tomorrow's presentation should be interesting.
CXDO...Good morning BTuna. Here are a few links from the past few months on why I like them.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=171522446
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=171532114
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=171205871
Don't miss their upcoming investor webcast tomorrow. Should be good...
https://finance.yahoo.com/news/crexendo-present-planet-microcap-showcase-130000059.html