Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
CXDO...TY SKILLZ. I'll rehash it. Also going to relisten to the cc later. They were very positive in the cc.
ACDC...Transcript is out. Here are the strongest statements in the cc...
- To put it in context, AT TODAY'S PRICING, we believe a fully integrated fleet that aggregates profits across the entire frac value chain, including horsepower, sand and chemicals and logistics could generate as much as $50 million in gross profit annually. .
- ProFrac has 42 fleets active today and expects to grow to 46 by the end of the year as they complete construction of newly built electric fleets.
- Highlighting the full value chain when you can get incredible utilization like our fleets have, you can get an incredible pull-through on your products that you're selling through, which would include the sand, logistics and chemicals. So having high utilization and pulling goes through on a fully bundled service offering is incredible. And with it being such a low percentage in Q4 and seeing that growing on a quarter-over-quarter basis, we think that the annualized EBITDA per fleet has potential to reach well over $50 million of fleet.
(Side note: Not sure how many fleets will be fully utilized by y/e, but here is where ProFrac is headed...46 fleets x $50M = $2.3B EBITDA per year)
- We look forward to delivering an incredible '23 and showing what our business model is capable of. It's these types of environments where we see a little choppiness in the market where -- we hope to set ourselves apart and show exactly why we put a vertically integrated business together that captures as much of the value chain as possible. It gives us a very resilient business model and allows us to outperform on a relative basis and show that this is a full cycle business that doesn't just look good in the good times but outperforms through the cycle.
Lots of good stuff in the cc...
https://finance.yahoo.com/news/q4-2022-profrac-holding-corp-051155888.html
Hard to believe the stock price is in the $11's. Will continue to buy if/as the share price continues to fall.
ACDC...Waaay oversold today...The cc was packed with good info. ProFrac is ahead of the curve and @ today's NG prices it seems there is still good profit to be made. Hopefully the transcript will be out by tomorrow so I can rehash it. Couldn't help buying back some of the shares I sold this morning at the close. Rebought in the high $11's and low $12's.
BIG profits to be made by holding 1yr+ w/o paying huge taxes (IMO).
We'll see what happens.
ACDC/FTK...Both stocks down this morning...however comments on both cc's are positive for 2023 even w/ ng prices low. I did some selling to balance out my portfolio but see both companies as still having good LT potential.
ProFrac (ACDC) is / has been building a powerhouse. The share price looks way undervalued in the $12's this morning. (IMO).
Time will tell what happens.
Added more PCTI & CXDO today
ACDC/FTK...Video released today indicating ProFrac is using Flotek's JP3 analyzers w/ nice results. I'm thinking one day ProFrac will acquire Flotek.
Both stocks are trading near 52wk lows so hoping for good news by tomorrow morning when both companies will have earnings out and will be holding their Q4Y/E cc's. (Holding huge positions in both ACDC & FTK).
ProFrac F3 Fuel Solutions
- BTU monitoring
- REAL-TIME REMOTE OPERATIONS
- REAL-TIME VIEW OF FLOW RATES
- OPTOMIZE FLOW AND SUBSTITUTION RATES
- SUBSTITUTION RATES UP TO 85%
- DUAL FUEL CUTS CO2 EMMISSIONS BY UP TO 23%
- CUT DIESEL DELIVERIES BY UP TO 70%
SAME POWER. LESS DIESEL.
SPCB...Seems like a decent contract but I don't trust these guys any more. low float but they diluted w/ no profits and did a reverse split. Maybe some day they will come through though.
“You'll never find a rainbow if you're looking down” - Charlie Chaplin
CXDO...Yes...Good cc. Lots of interest. The comment that stands out the most was towards the end of the call when management said their stock is tremendously undervalued. What keeps him up at night is he's afraid that someone will take a run at them (buy them out) before their true potential hits.
Also...
- They cut the dividend and hired an IR firm. (Dividend was small anyway).
- Has not seen a slow down.
- Lots of demand.
- Don't want to dilute shareholders.
- They don't give guidance, but said there is good organic growth ahead.
- No dealings w/ Silicon Valley Bank.
- Retired CEO Steve Mihaylo will not be selling any of his shares. They will be left to his foundation that helps people w/ education, drug abuse, ect.
CXDO is currently my 3rd largest holding and over 20% of my portfolio. Was very happy with the call.
Lots more info but I can't remember it all. May relisten to it again later or tomorrow.
CXDO...Crexendo Q4 EPS $0.09 Beats $0.03 Estimate, Sales $11.40M Beat $10.68M Estimate
CXDO...NICE results!!!!...Q4 adj EPS $0.09... Q4 Sales $11.4M...Crexendo Announces Fourth Quarter and Full Year 2022 Results
PHOENIX, AZ / ACCESSWIRE / March 14, 2023 / Crexendo, Inc. (NASDAQ:CXDO) is 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. Our solutions currently support over three million end users globally. Today, the Company reported financial results for the fourth quarter and full year ended December 31, 2022.
Financial highlights:
GAAP net loss of $(35.4) million and non-GAAP net income for the year of $4.1 million.
Total revenue for the year increased 34% year-over-year to $37.6 million compared to the prior year.
GAAP net loss of $(32.6) million and fourth quarter non-GAAP net income of $2.5 million.
Fourth quarter revenue increased 27% to $11.4 million compared to the prior year fourth quarter.
Financial Results for the Fourth Quarter of 2022
Consolidated total revenue for the fourth quarter of 2022 increased 27%, or $2.4 million to $11.4 million compared to $9.0 million for the fourth quarter of 2021. The Allegiant Networks business acquisition contributed $1.8 million of the increase in consolidated total revenue in the fourth quarter of 2022.
Consolidated service revenue for the fourth quarter of 2022 increased 41%, or $1.8 million to $6.1 million compared to $4.3 million for the fourth quarter of 2021. The Allegiant Networks business acquisition contributed $1.5 million of the increase in consolidated service revenue in the fourth quarter of 2022.
Consolidated software solutions revenue for the fourth quarter of 2022 increased 14%, or $537,000 to $4.4 million compared to $3.9 million for the fourth quarter of 2021.
Consolidated product revenue for the fourth quarter of 2022 increased 16%, or $132,000 to $947,000 compared to $815,000 for the fourth quarter of 2021. The Allegiant Networks business acquisition contributed $228,000 of the additional consolidated product revenue in the fourth quarter of 2022 offset by a decrease in our product revenue of $(96,000) compared to the fourth quarter of 2021.
Consolidated operating expenses for the fourth quarter of 2022 increased 370%, or $36.3 million to $46.0 million compared to $9.8 million for the fourth quarter of 2021. Goodwill and long-lived asset impairment contributed $32.7 million of the increase in operating expenses and the Allegiant Networks business acquisition contributed $2.0 million of the increase in operating expenses. Excluding these items, operating expenses increased $1.5 million, or 16% compared to the fourth quarter of 2021.
The Company reported net loss of $(32.6) million for the fourth quarter of 2022, or $(1.33) loss per basic and diluted common share, compared to net loss of $(602,000), or $(0.03) loss per basic and diluted common share for the fourth quarter of 2021. During the fourth quarter of 2022, we recorded a goodwill impairment charge of $32.6 million and a $69,000 long-lived asset impairment, which contributed to the $(32.6) million net loss for the fourth quarter of 2022.
Non-GAAP net income of $2.5 million for the fourth quarter of 2022, or $0.10 per basic common share and $0.09 per diluted common share, compared to non-GAAP net income of $592,000 or $0.03 per basic common share and $0.02 per diluted common share for the fourth quarter of 2021.
EBITDA for the fourth quarter of 2022 of $(1.0) million loss, compared to $(102,000) loss for the fourth quarter of 2021. Adjusted EBITDA for the fourth quarter of 2022 increased to $596,000, compared to $474,000 for the fourth quarter of 2021.
Financial Results for the Year ended December 31, 2022
Consolidated total revenue for the year ended December 31, 2022 increased 34%, or $9.5 million to $37.6 million compared to $28.1 million for the year ended December 31, 2021. The Allegiant Networks business acquisition contributed $1.8 million of the increase in consolidated total revenue in the year ended December 31, 2022.
Consolidated service revenue for the year ended December 31, 2022 increased 14%, or $2.4 million to $19.5 million compared to $17.1 million for the year ended December 31, 2021. The Allegiant Networks business acquisition contributed $1.5 million of the increase in consolidated service revenue in the year ended December 31, 2022.
Consolidated software solutions revenue for the year ended December 31, 2022 increased 75%, or $6.5 million to $15.1 million compared to $8.7 million for the year ended December 31, 2021. Software solutions revenue from 2021 represents revenue from the NetSapiens business combination from the acquisition date of June 1, 2021.
Consolidated product revenue for the year ended December 31, 2022 increased 24%, or $567,000 to $2.9 million compared to $2.3 million for the year ended December 31, 2021. The Allegiant Networks business acquisition contributed $228,000 of the additional consolidated product revenue in the in the year ended December 31, 2022.
Consolidated operating expenses for the Year ended December 31, 2022 increased 143%, or $44.0 million to $74.9 million compared to $30.9 million for the year ended December 31, 2021. Goodwill and long-lived asset impairments contributed $32.7 million of the increase in operating expenses. The Allegiant Networks business acquisition contributed $2.0 million of the increase in operating expenses. Additionally, during the year ended December 31, 2022, we incurred $55,000 of acquisition related general and administrative expenses. Excluding these items, operating expenses increased 30%, or $9.3 million compared to the year ended December 31, 2021.
The Company reported a net loss of $(35.4) million for the year ended December 31, 2022, or a $(1.54) loss per basic and diluted common share, compared to $(2.4) million net loss, or $(0.12) per basic and diluted common share for the year ended December 31, 2021. During the fourth quarter of 2022, we recorded a goodwill impairment charge of $32.6 million and a $69,000 long-lived asset impairment, which contributed to the $(35.4) million net loss for the year ended December 31, 2022.
Non-GAAP net income of $4.1 million for the year ended December 31, 2022, or $0.18 per basic common share and $0.16 per diluted common share, compared to a non-GAAP net income of $1.7 million or $0.09 per basic common share and $0.07 per diluted common share for the year ended December 31, 2021.
EBITDA for the Year ended December 31, 2022 of $(2.0) million loss, compared to $(1.2) million loss for the year ended December 31, 2021. Adjusted EBITDA for the year ended December 31, 2022 increased to $2.5 million, compared to $1.6 million for the year ended December 31, 2021.
Total cash and cash equivalents at December 31, 2022 of $5.5 million compared to $7.5 million at December 31, 2021.
Cash used for operating activities for the year ended December 31, 2022 of $(411,000) compared to $(1.0) million used for operating activities for the year ended December 31, 2021. Cash used for investing activities for the year ended December 31, 2022 of $(1.7) million compared to $(9.9) million used for investing activities for the year ended December 31, 2021. Cash used for financing activities for the year ended December 31, 2022 of $(54,000) compared to cash provided by financing activities of $650,000 for the year ended December 31, 2021.
Management Commentary
Crexendo Chief Executive Officer Jeff Korn commented, "We finished the year strong and have considerable momentum behind our combined businesses as we head into 2023. In the fourth quarter we drove a 34% increase in consolidated revenue while continuing to grow on an organic basis as well. We substantially improved non-GAAP net income to $4.1 million, underscoring the inherent profitability of our operations once our performance can be viewed on a comparable basis.
"We will continue recognizing synergies from our Software Solutions acquisition and will benefit from the integration and synergies from our recent Allegiant acquisition. As a combined organization, we expect to drive more new sales and to realize greater expansion revenue opportunities from our collective customer base. We will also improve our cost profile substantially as we aim to increase cash flow and profitability by the end of the year."
Company President and Chief Operating Officer Doug Gaylor added, "We made considerable progress this year in architecting our vision for the future of Crexendo. With the recent management transition, we have continuity in our leadership team with a refreshed perspective on how to take our Company into its next phase of growth. Our sales and marketing teams are operating productively, and we fully expect those efforts to materialize into increased enterprise sales and improved margins in 2023. We also remain committed to our existing customers through a concerted focus on providing the best products, services and support in the industry."
Steve Mihaylo, retiring CEO, commented "I am excited to start my retirement and turn leadership of the company to Jeff and the management team. To see our telecom offerings grow from zero to a $45M+ run rate over the last decade has been a tremendous accomplishment and I am excited to watch the company continue to prosper under Jeff's direction."
CLMB...Datadobi and Climb Channel Solutions Launch StorageMAP File System Assessment Service – Featuring StorageMAP v6.4 Enhanced Intelligence and Reporting
Enables Channel Partners to Deliver Badly Needed Insight into Customers' Rapidly Growing Unstructured Data Storage Estate
Datadobi, the global leader in unstructured data management, today announced the launch of the StorageMAP File System Assessment Service. In collaboration with Climb Channel Solutions and other Datadobi partners, and with the intelligence capabilities of StorageMAP, channel partners can now provide their customers with a comprehensive understanding of their expanding unstructured data environment and help them make informed decisions regarding its management, build business cases to secure the resources required, and take definitive action to meet objectives and overcome challenges.
The launch of the new service is in response to the exigent demands of unstructured data. More specifically, Gartner has estimated that 80% - 90% of data is unstructured and that it is growing three-times faster than structured data. And recent research from Techjury reveals that 95% of businesses cite the need to manage unstructured data as a problem for their business.
"Indeed, our discussions with our channel partners and end clients echo these findings. Virtually all report an explosion in their unstructured data stores resulting in management difficulties, increasing costs, and escalating risk," said Michael Jack, CRO, Datadobi. "However, with this new service, our channel partners can now provide their customers with badly needed insight into their entire storage estate on-premises or in the cloud."
And in doing so, partners can provide their end clients with the insights they need to minimize risk – including legal and regulations compliance, reduce inefficiency and lower costs, cultivate sustainability, and gain competitive advantage from their unstructured data.
"Unstructured data management is a process that requires input from many constituencies across an organization, from IT operations to department heads to compliance teams, as well as senior executives – with each group benefiting from different information about the environment," said Dale Foster, CEO, Climb Channel Solutions. "While it's easy to think of unstructured data management as a purely technical challenge, there is also a large human element involved. Many decisions need to be made and agreed upon across all stakeholders prior to action being taken."
Dale Foster continued, "Many of our channel partners want to provide their customers with comprehensive solutions to their unstructured data management challenges but are unable to do so without the time and expense of increasing their service delivery ability. And this is where Climb, combined with StorageMAP, will help. Being non-competitive with our partners, we can help them deliver critically needed services without the partner having to ramp up their own bench."
In related news, Datadobi today announced the general availability launch of StorageMAP software version 6.4 which now includes additional Executive Level Reporting along with highly detailed reports via its Analytics Module and the unique Datadobi Query Language (DQL). These new capabilities provide the foundation for the new StorageMAP Assessment Service.
https://www.benzinga.com/pressreleases/23/03/b31339229/datadobi-and-climb-channel-solutions-launch-storagemap-file-system-assessment-service-featuring-st
ZYXI...rado, I did, but sold my position before today's run to add more ACDC. Hopefully things pay off on ACDC.
SCHW..Thanks for the heads up maxluke, gilead & researcher...Made a great in/out trade.. Still holding a few shares.
ACDC..."Fracking truly is a miracle. It's fast paced...It's 24 hrs a day...It never stops. There is so much fragmentation in this industry that it's brought a great deal of inefficiencies. We want to OWN EVERYTHING ABOUT THE SUPPLY CHAIN to our business. Bringing these together can protect your business and allow you to operate on a more consistent reliable fashion. You've squeezed all the inefficiency out. It creates a business that is incredibly nimble and it can adjust on the fly to the market that is presented. Allows us to be an industry leader and to always be the ones putting out better products. It's a humbling thing to be leading so many amazing people. We truly have the best people on the planet to work for us."
CXDO...Earnings next Tuesday. Added more today too. I'm loaded up on this one also. Hoping earnings report and guidance is good.
ACDC...Added more in the $17's. Hope to hell I'm not missing anything. Damn, I'm loaded on this one.
We'll see how things look on the 21st when they report.
FTK/ACDC/CXDO...Top 3 positions (70% of my portfolio)...All 3 companies report within the next couple weeks. Going to be interesting. Climb is now #4. PCTI & CSPI #5 & #6.
FTK...$1.03 (approx 27%)
ACDC...$18.79 (approx 25%)
CXDO...$$1.81 (approx 18%)
Positions may change heading in to earnings depending on the market.
We'll see what happens.
ACDC...Forward upside for the stock price after earnings are released in 12 days (based on estimates from 13 stock analysts). Today the stock price hit the $19.20's again but it's on fairly low volume. Could go lower. I added more on confidence that ACDC will be trading much higher heading into 2024. And there is a good chance management will implement a dividend (IMO).
Check out analyst estimates for 2023 & 2024, especially EPS estimates...
https://stockanalysis.com/stocks/acdc/forecast/
ELTK...Nice report. Unfortunately I sold my small position and missed out on this mornings nice percentage gain.
CLMB...Touched $50's today. Nice! All-time high. Only 5.4k shares traded though, so not much volume. Climb is probably getting close to being fairly valued at these prices but there is still good long potential here IMO . I sold a tad this morning.
Added more FTK @ $1.11. Flotek reports in less than 2 weeks so hoping for word on how they are progressing on the hiring of a new CEO.
Total fully diluted market cap is just a bit over $200M. Flotek should easily do more than that in sales this year and hit profitability. Time will tell.
PCTI...Nice summery nelson.
PCTI...Nice Q. Nice cash, Low debt, 4.7% yield..."We are pleased with the underlying strength with which we exited the fourth quarter and progress into 2023. Our leading wireless technology solutions enable us to serve customers in the utilities, rail, 5G and public safety sectors, supporting critical applications that require reliable connectivity. For the first quarter of 2023, we anticipate lower sequential revenue due to typical seasonality effects; however, we maintain a positive outlook for the remainder of the year. Our healthy balance sheet provides us with the financial flexibility to support the growth of our business and execution of our strategy."
PCTEL Reports Fourth Quarter and Full Year 2022 Financial Results
PCTEL achieved 2022 revenues of $99.4 million, up 13%, and gross profit margin of 46%
Strong expansion in net income and Adjusted EBITDA in the fourth quarter and fiscal year 2022
BLOOMINGDALE, Ill., March 07, 2023--(BUSINESS WIRE)--PCTEL, Inc. (Nasdaq: PCTI) ("PCTEL" or the "Company"), a leading global provider of wireless technology solutions, today reported results for the fourth quarter and full year ended December 31, 2022.
Fourth Quarter 2022 Highlights
Revenues of $25.9 million, equivalent to the fourth quarter 2021
GAAP gross profit margin of 50.3%
GAAP net income of $2.1 million or $0.11 per diluted share
Non-GAAP net income of $3.0 million or $0.16 per diluted share
Adjusted EBITDA increased 21.7% year-over-year to $3.7 million
Launched new features in the SeeHawk™ Central cloud platform which simplifies the tracking, review and approval of public safety network coverage testing
Full Year 2022 Highlights
Revenues of $99.4 million were 13.2% higher compared to the prior year
GAAP gross profit margin of 46.0%
GAAP net income of $2.9 million or $0.15 per diluted share
Non-GAAP net income of $7.7 million or $0.41 per diluted share
Adjusted EBITDA increased 26.8% year-over-year to $10.7 million
Released multiple mission critical application products throughout the year, targeting diverse end markets including rail, electric vehicles and agriculture applications
Streamlined sales organization to gain scale as well as support global distribution networks
David Neumann, Chief Executive Officer, commented, "I am very proud of our team’s performance in 2022, which reflected a year of sales growth driven by demand strength and strong execution through challenging macroeconomic conditions. We enjoyed numerous successes over the course of the year supported by the ongoing execution of our three-pronged growth strategy, including the launch of innovative products, expansion of our sales channels globally, and an increase in our market share by strong adoption of our integrated solutions by our customers. We released a major update to the SeeHawk™ Central cloud-based software platform to improve support for public safety testing, along with multiple new, high-reliability and mission critical products including our MultiFin 7-in-1 antenna, and CMTA antenna portfolio. Additionally, we have grown our international customer base and distribution network, particularly in the European market, expanding PCTEL’s customer reach and end market opportunities. In 2023, we look forward to growing our Company while remaining on the forefront of innovation in the wireless technology space."
Fourth Quarter & Full Year 2022 Financial Summary
Summary Financials
Q4’22
Q4’21
Change
FY’22
FY’21
Change
Revenue (000’s)
$25,922
$26,008
(0.3%)
$99,428
$87,807
13.2%
Gross Profit Margin %
50.3%
45.9%
440 bps
46.0%
46.1%
(10 bps)
Adjusted EBITDA (000’s)
$3,741
$3,074
21.7%
$10,725
$8,458
26.8%
GAAP Diluted EPS
$0.11
$0.02
$0.09
$0.15
$0.01
$0.14
Non-GAAP Diluted EPS
$0.16
$0.12
$0.04
$0.41
$0.27
$0.14
Fourth quarter 2022 revenues were $25.9 million, equivalent to the fourth quarter 2021. Fourth quarter 2022 antennas and industrial IoT device revenue was $16.4 million, a decrease of 14.2% year-over-year, partially due to high customer inventory levels. Fourth quarter 2022 Test & Measurement revenue was $9.9 million, an increase of 37.7% year-over-year due to higher revenues for 5G products in the U.S. Fiscal 2022 revenues were $99.4 million, an increase of 13.2% compared to $87.8 million in fiscal 2021. The increase in revenue for fiscal 2022 was driven by double-digit growth in both segments. Fiscal 2022 Antennas and IIoT Devices revenue was $69.7 million, an increase of 10.5% year-over-year. Fiscal 2022 Test & Measurement revenue was $30.6 million, an increase of 18.9% year-over-year.
Fourth quarter 2022 GAAP gross profit margin was 50.3%, compared to 45.9% in the fourth quarter of 2021. The higher gross profit margin was due to a higher mix of Test & Measurement products. Fiscal 2022 gross profit margin was 46.0%, compared to 46.1% in fiscal 2021.
Adjusted EBITDA in the fourth quarter increased to $3.7 million compared to $3.1 million in the fourth quarter of 2021. Adjusted EBITDA in fiscal 2022 increased to $10.7 million compared to $8.5 million in fiscal 2021.
Fourth quarter 2022 GAAP net income was $2.1 million or diluted earnings per share of $0.11 compared to GAAP net income of $0.3 million or $0.02 per share in the fourth quarter of 2021. A reversal of allowances related to deferred income taxes contributed $0.02 per share during the fourth quarter 2022. Non-GAAP net income was $3.0 million, or $0.16 diluted earnings per share, compared to $2.1 million or $0.12 per share in the fourth quarter of 2021.
Fiscal 2022 GAAP net income was $2.9 million or diluted earnings per share of $0.15 compared to GAAP net income of $0.2 million or $0.01 per share during fiscal 2021. A reversal of allowances related to deferred income taxes contributed $0.04 per share during the full year 2022. Non-GAAP net income was $7.7 million, or $0.41 diluted earnings per share, compared to $5.0 million or $0.27 per share during fiscal 2021.
Cash, cash equivalents and investments were $30.0 million as of December 31, 2022, a decrease of approximately $0.8 million as compared to December 31, 2021.
First Quarter 2023 Outlook
The following ranges represent PCTEL’s current expectations for the first quarter 2023 based upon available data and estimates.
Revenue: $22.0 million to $23.0 million
Non-GAAP Gross Margin: 47% to 48%
Non-GAAP EPS: $0.05 to $0.07
Kevin McGowan, Chief Financial Officer, explained, "We are pleased with the underlying strength with which we exited the fourth quarter and progress into 2023. Our leading wireless technology solutions enable us to serve customers in the utilities, rail, 5G and public safety sectors, supporting critical applications that require reliable connectivity. For the first quarter of 2023, we anticipate lower sequential revenue due to typical seasonality effects; however, we maintain a positive outlook for the remainder of the year. Our healthy balance sheet provides us with the financial flexibility to support the growth of our business and execution of our strategy."
CONFERENCE CALL / WEBCAST
PCTEL’s management team will discuss the Company’s results today at 4:30 p.m. ET. The call will also be webcast at https://investor.pctel.com/news-events/webcasts-events. The call can also be accessed by dialing (888) 506-0062 (United States/Canada) or (973) 528-0011 (International), access code: 209567.
Replay: A replay will be available for two weeks after the call on either the website listed above or by calling (877) 481-4010 (United States/Canada), or (919) 882-2331 (International), access code: 47628.
About PCTEL
PCTEL is a leading global provider of wireless technology solutions, including purpose-built Industrial IoT devices, antenna systems, and test and measurement products. Trusted by our customers for over 29 years, we solve complex wireless challenges to help organizations stay connected, transform, and grow.
For more information, please visit our website at https://www.pctel.com/
PCTI...Earnings/cc after the close...Should be a good one!
ZYXI...Down 19% - 20% right after the open just on news of a delayed PR and cc. It happens. So I viewed this as a huge buying opportunity on knee-jerk reaction. Will flip out of some of those shares before the day is over.
We'll see what happens.
ZYXI...Just added in the $9.70's.
ZYXI...valuemind, I have no idea other than what they stated in the release..."to allow additional time to complete its year-end closing procedures."
Kind of crappy to release the notice @ the same time the earnings were to be released and right before the cc. But like I said, I'm not heavy the position and will wait it out. But they already gave pre-earnings and still have 3+ weeks to file the 10k.
ZYXI...I seen that. Was going to try to add more in the $10's but inching back up. It's a small flyer position for me so will just wait it out for now.
IMMR...Immersion Files Patent Infringement Lawsuits Against Xiaomi in Germany, France and India
AVENTURA, Fla.--(BUSINESS WIRE)--Mar. 6, 2023-- Immersion Corporation (NASDAQ: IMMR), a leading developer and provider of technologies for haptics, today announced that it has filed patent infringement lawsuits against several companies of the Xiaomi-Group in Germany, France and India. Immersion filed complaints against Xiaomi-Group companies and their agents in the Düsseldorf Regional Court in Germany, the Tribunal judiciaire de Paris (Paris First Instance Civil Court) in France, and the High Court of Delhi, at New Delhi, in India.
The complaints allege that Xiaomi’s smartphones, including the Xiaomi 12, infringe Immersion’s patents that cover various uses of haptic effects in connection with such smartphones. Immersion is seeking injunctions that would allow Immersion to prohibit Xiaomi from selling the infringing smartphones in Germany, France and India, as well as costs and damages as compensation for such infringement.
“Immersion and its employees are proud of its rich history of almost 30 years of inventing innovative haptic technologies that allow people to use their sense of touch to engage with products and experience the digital world around them. Our intellectual property is relevant to many of the most important ways in which haptic technology is and can be deployed, and, in the case of smartphones, haptics is crucial to an immersive user experience. Many of our licensed customers are market leaders that benefit from our technology,” said Eric Singer, CEO of Immersion.
“While we are pleased to see that Xiaomi, like many leading mobile OEMs, has embraced the value of haptics and has adopted our technology in smartphones, it is imperative that we protect our business against infringement of our intellectual property in which we have invested heavily over decades of our history,” continued Singer. “We will vigorously defend our intellectual property when it is infringed.”
The complaints against Xiaomi assert infringement of the following patents:
EP 2 463 752 B1 (German part) titled “Haptisches Feedback-System mit gespeicherten Effekten”
EP 2 463 752 B1 (French part) titled “Système de rendu haptique avec stockage d’effets”
IN 304 396 (India) titled “Haptic Feedback System With Stored Effects”
ZYXI...Reports today AMC. They gave preliminary Q4 FY22 results a few weeks back which showed good growth...
https://capedge.com/news/benzinga/30441279/zynex-reports-preliminary?fromCompany=846475
The stock price is down approx 17% since the pre-earnings PR so I took a small position on Friday @ .$12.46.
It's a crap shoot so we'll see what happens.
ACDC...ProFrac
Profrac Holding (NASDAQ:ACDC) consists of several companies that serve the oil and gas industry. Hydraulic fracturing and well completion are among the services it provides to North American energy producers that tap shale and other unconventional resources.
To say ProFrac has been on an acquisition spree would be an understatement. In November 2022, it closed a $270 million acquisition of U.S. Well Services, making it the nation’s largest electric frac services operation, and significantly expanded its NextGen frac solutions fleet. In January 2023, ProFrac wrapped up two more acquisitions — REV Energy Holdings and Producers Services Holdings — to give it six additional frac fleets.
This week ProFrac completed its $475 million takeover of Performance Proppants, the largest in-basin proppant producer in the Haynesville shale region of eastern Texas. Another step in the company’s vertical integration strategy, the addition, makes ProFrac the largest producer of fracking sand in North America.
ProFrac is aggressively consolidating the fragmented fracking services market to become a go-to for upstream oil & gas companies. This roll-up strategy and the expanding capabilities that come with it have Wall Street unanimously bullish on the stock. Price targets in the $30 to $35 range imply at least a 50% upside.
https://www.investing.com/analysis/3-midcaps-below-20-wall-street-loves-200635853
CLMB...Yes, great run hweb...+20% since yesterday. You hit the nail on the head, the cc went well and was very positive. Great management team. I took the opportunity to sell a few more shares and now hold approx 1/4 of my all time high position.
Here's the cc transcript...
https://finance.yahoo.com/news/q4-2022-climb-global-solutions-031836246.html
FTK/ACDC...Looks like Profrac now controls 53.9% of Flotek. Have to wonder if is playing a major role in picking Flotek's new CEO.
I think the filings yesterday were great news.
Maybe ProFrac (ACDC) is thinking about acquiring FTK?
Time will tell but I think FTK undervalued.
https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&ref=117303640&type=HTML&symbol=FTK&companyName=Flotek+Industries+Inc.&formType=SC+13D%2FA&formDescription=%5BAmend%5D+General+statement+of+acquisition+of+beneficial+ownership&dateFiled=2023-03-02&CK=928054
BMTX...Thank you much SSKILLZ. I will keep my guard up. Put it in my pick6 today because is has dropped so much and it held this level a week ago.
But your answer is exactly what I was looking for...Proceed w/ caution. Thanks
BMTX...Good cash, low debt, price/book = 0.81, and the share price has been beat to hell. I have a starter position but would like to hear if anyone else has an opinion on this one before I go any further.
They will report Q4/FY2022 on Monday, March 27.
BM Technologies, Inc. (NYSE American:BMTX) - formerly known as BankMobile - is among the largest Banking-as-a-Service (BaaS) providers in the country, providing access to checking and savings accounts, personal loans, and financial wellness.
1/30/23
BM Technologies, Inc. Announces Profit Enhancement Plan and Changes to Management and Directors
https://finance.yahoo.com/news/bm-technologies-inc-announces-profit-131500161.html
11/15/22
BM Technologies Reports Third Quarter & Year-to-Date 2022 Results
https://finance.yahoo.com/news/bm-technologies-reports-third-quarter-130000704.html
Stock price = $3.28
SRTS...Not sure what's going on. I dropped my SRTS shares on YE 2022 (to use the losses) and haven't followed it since.
CLMB...Climb continues to climb. Wrapped up for a good part of the day, so will listen to the cc later.
FTK...NICE !!
CLMB...Another strong Q...Net Sales, Gross Profit, Net Income, Adjusted EBITDA and EPS Increase to Record Levels
FY 2022 Net Income Grew 36% to $12.5 Million or $2.81 per share; Adjusted EBITDA Up 36% to $21.1 Million
EATONTOWN, N.J., March 01, 2023 (GLOBE NEWSWIRE) -- Climb Global Solutions, Inc. (NASDAQ:CLMB) (“Climb” or the “Company”), a value-added global IT channel company providing unique sales and distribution solutions for innovative technology vendors, is reporting results for the fourth quarter and full year ended December 31, 2022.
Fourth Quarter 2022 Summary vs. Same Year-Ago Quarter
Net sales increased 18% to $88.9 million.
Adjusted gross billings (a non-GAAP financial measure defined below) increased 22% to $319.8 million.
Gross profit increased 28% to $16.1 million.
Net income increased 38% to $4.8 million or $1.06 per diluted share, compared to $3.4 million or $0.78 per diluted share. Excluding the impact of foreign exchange (FX), net income increased 43% to $4.9 million or $1.08 per diluted share.
Adjusted EBITDA (a non-GAAP financial measure defined below) increased 44% to $7.4 million.
Full Year 2022 Summary vs. 2021
Net sales increased 8% to $304.3 million.
Adjusted gross billings increased 14% to $1.1 billion.
Gross profit increased 18% to $54.1 million.
Net income increased 36% to $12.5 million or $2.81 per diluted share, compared to $9.2 million or $2.09 per diluted share. Excluding the impact of foreign exchange (FX), net income increased 43% to $13.2 million or $2.97 per diluted share.
Adjusted EBITDA increased 36% to $21.1 million.
Management Commentary
“2022 was another exceptional year for Climb, highlighted by record results across all key financial metrics,” said CEO Dale Foster. “This was driven by the continued execution of our core strategy – generating organic growth with existing vendors, adding new innovative vendors to our line card and delivering on our acquisition objectives. We also built upon our strategy to expand Climb’s presence overseas and take advantage of the growing opportunity in EMEA.”
“Q4 2022 marked the first full quarter of Spinnakar’s integration into our financial and operating systems, which has been an excellent addition to our organization in both Europe and the U.S. Although Spinnakar contributed to our top and bottom line during the quarter, we also continued to generate strong double-digit organic growth. We are in the early stages of capitalizing on synergies from the acquisition and expect to deliver another record year of growth and profitability in 2023.”