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Looks like most of the ~$1M increase in SGA is one-time. That's a positive. One customer upped their timetable to receive more product up-front and the Walmart product was an initial order. Not sure how much Walmart ordered in advance, will they need to reorder much for the holiday season? The advance order could also cause the next quarter to be lighter. Freight ends up in cost of revenue and freight costs have been coming down, so that could improve in coming quarters.
"""
OPERATING EXPENSES
During the three months ended June 30, 2022, total operating expenses increased to approximately $3,034,000 compared to approximately $2,068,000 during the three months ended June 30, 2021. This represents an increase in total operating expenses of approximately $966,000 from the three months ended June 30, 2021. The increase in operating expenses is primarily due to an increase in general and administrative expenses of approximately $949,000. There was an increase in pallet expenses, warehouse supplies and expense and temporary labor at our California facility of approximately $262,000 due to an increase in third party logistics business, a one-time project associated with the initial product set in a major customer’s consumer electronics department (see NET SALES), as well as price increases due to inflation and supply chain shortages. There was an increase in legal, professional, investor relations and stock exchange listing fees of approximately $222,000 primarily related to the public offering and Nasdaq up-listing in May 2022 (see NOTE 12 -PUBLIC OFFERING AND NASDAQ UPLISTING). There was an increase in compensation of approximately $172,000 primarily due to compensation for new members of the board of directors and officers’ incentive bonuses. There was an increase in bad debt reserve expense of approximately $151,000 related to required reserves commensurate with the increase in net sales and accounts receivable. The remaining increase was primarily due to one-time ERP system projects, increases in costs due to inflation and increases selling and administrative variable expenses commensurate with the increase in net sales."""
MICS 9.45+1.20 (+14.55%)
Perking up today.
Isn't that part of the project that was mostly finished last quarter so the $1.6 is what was left over from last quarter?
Thanks for sharing, seems reasonable.
ZYXI 9.73
I'm guessing the recent strength may be due to expectations over the new blood volume monitor.
9.31 +7% Nice move
Yahoo shows forward of 20.66
Which is kind of ridiculous. That net income will go down.
CEO said most of the military contract was done in 2021. And there was some one-time in the ERP system cost that shouldn't be there. So I am expecting Q1 and Q2 to have margins more in line with last year. So I would think we would have a Q1 more comparable with Q1 2021 of .08 cents. We'll see.
VTSI A few notes from call
Looks like they bent backwards to do a good on the military contract, so that hurt their bottom line.
Not long to wait for next sets of results:
Q1 results out by Aug 12th
Q2 results out by Aug 19th
It sounded like they plan to have a conference call for these also.
Margins were lower mainly caused by pursuit of military customer.
CEO likened it to paid R&D.
2022 gross margins to improve. Military project largely complete in 2021.
Questions:
Someone asked a question about their space in Orlando
Ans:
CEO says that is the acquisition center where all the buyers are located.
All those acquisition officers are there and can come into the office there.
Regarding their technology he said that some is as the industry has and much is tech they don't have.
Law enforcement. Untapped market for this product.
Supply chain headwinds?
COVID and supply chain did hurt in 2021 in some places. Especially scheduling of when Virtra was ready versus customer was ready.
GA jumped $400K, how much to ERP?
Quite a bit of one-time impact in that quarter. Sounds like that should not be present in Q1 and Q2 results.
NDA signed on military contract so couldn't say much about the military contract. Good in positioning for future work.
Canadian market:
Virtra was winner previously of a contract in Canada. Canada could have awarded to more customers but only selected them. First order has come in. Not alot of press release. Standing offer and unique opportunity, criss-crosses every non-military across Canada. Really good future for that they are working hard on.
He was on the call.
VTSI
Stock is down because they stopped reporting. Reason for stopping reporting is because they have a new ERP system being put in and it is delayed.
They have said they will file in a few days -
"VirTra expects to file the 2021 Annual Report and Form 10-Q by August 12, 2022 and regain compliance with the Nasdaq Listing Rules."
https://www.otcmarkets.com/filing/html?id=15884266&guid=PBk-kqfiR7pKoih
They have set Tuesday, August 2, 2022 for a conference call.
https://finance.yahoo.com/news/virtra-sets-fourth-quarter-full-120000277.html
Backlog has gone up alot the last couple years.
```
03/31/2022 they reported sales orders received in 2021 totaled $32.7M. Cash of $19.7M.
11/15/2021 Reported backlog of $21.7M
08/30/2021 Reported backlog of $17.0M
05/17/2021 Reported backlog of $16.1M
03/29/2021 Reported backlog of $14.6M
11/10/2020 Reported backlog of $14.4M
08/12/2020 Reported backlog of $14.3M
05/12/2020 Reported backlog of $11.3M
03/23/2020 Reported backlog of $ 9.6M
```
When they reported 11/15/2021 they said they expected most of their backlog would turn into revenue.
"Management estimates the majority of the new bookings received in the first nine months of 2021 will be converted to revenue in 2021 and early 2022."
So I expect whatever they release to be good and for them to file and resolve the non-reporting stigma.
I also hedged today with some SQQQ
I'm not sure what the forward PE is. How are you getting 8?
Zynex Rev up 18% Net Income up 19%
ENGLEWOOD, Colo., July 28, 2022 /PRNewswire/ -- Zynex, Inc. (NASDAQ: ZYXI) an innovative medical technology company specializing in the manufacture and sale of non-invasive medical devices for pain management, rehabilitation, and patient monitoring, today reported financial results for the second quarter ended June 30, 2022.
Second Quarter 2022 Highlights:
Revenue increased 18% year over year to $36.8 million
Net income increased 19% to $3.3 million; Diluted EPS of $0.08
Adjusted EBITDA increased 16% to $5.5 million
Completed initial $10 million share buyback and announced an additional program of $10 million
Recorded highest number of orders in Company history
Second Quarter 2022 Financial Results Summary:
For the second quarter, the Company reported net revenue of $36.8 million, an 18% increase over second quarter of 2021. Gross margins were 80% and net income was $3.3 million, a 19% increase from Q2 2021.
As of June 30, 2022, the Company had working capital of $51.8 million. Cash on hand was $26.9 million at the end of the second quarter.
President and CEO Commentary:
"In Q2, we posted another quarter of top line growth and increased profitability. Our reps are becoming highly efficient and revenue projections reflect our confidence in the sales force to produce exceptional results. The record orders we posted in second quarter will put us in a position to realize strong results in the second half of 2022," said Thomas Sandgaard, President and CEO. "Additionally, we completed an initial $10 million share buyback program and announced another $10 million program to signal our ability to drive shareholder value."
Third Quarter and Full Year 2022 Guidance:
Zynex is reaffirming its full year 2022 revenue estimates in the range of $150-$170 million and Adjusted EBITDA between $25-$35 million.
The estimated range for third quarter 2022 revenue is between $40-$43 million, an increase of approximately 20% from Q3 2021. Adjusted EBITDA for the third quarter 2022 is estimated to range between $7-$9 million.
Conference Call and Webcast Details:
Thursday, July 28, 2022 at 2:15 p.m. MT / 4:15 p.m. ET
To register and participate in the webcast, interested parties should click on the following link or dial in approximately 10-15 minutes prior to the webcast: https://app.webinar.net/mV4arKMJQLl
US Participant Dial In (TOLL FREE): 1-844-825-9790
International Participant Dial In: 1-412-317-5170
Canada Participant Dial In (TOLL FREE): 1-855-669-9657
I lost a bunch of money in IVFH. I met with the CEO once. He was not inspiring.
The call sounded good to me. Sounds like Ault just feels like he invested in something undervalued. I saw on the 10k the management team gave themselves $50K raises, so I don't think they'll be going anywhere.
Sounds like they have alot in the works in terms of new partnerships, new licensing deals in potentially new categories toys and celebrations. More focus on direct-to-consumer.
They mentioned some other key partnerships outside normal business structure in the works.
They explained that the former majority shareholder had a hardware only view. That's why they wanted to get rid of them.
Also a focus on improved margins, higher priced machines.
They mentioned car, connected devices, smart tvs and how Stingray had introduced them to Roku TV and in-car entertainment.
Numbers at Walmart are off to a good start. People are understanding the Singcast, numbers are promising right off the bat.
Higher price points performing well, which was a concern going into it. Previous high price was $59, now carrying $99, $129 leading, $149 steady
Already having conversations for 2023 and feedback from buyer is that they want to expand for 2023. That sounds positive.
Also they have alot of inventory they won't have to spend money on. Accounting-wise will that lower their cost of revenue and boost income?
I calculated the same thing. An awful quarter. Looks like shipping costs are better now than last year, but they are still high. The vote of no confidence by Stingray is disappointing. It will be interesting to see how much this drops tomorrow.
https://www.axios.com/2022/07/08/shipping-costs-head-back-to-earth
Singing Machine to Announce its Financial Results for the Full Fiscal 2022 Year
The Singing Machine Company, Inc.
Mon, July 11, 2022, 8:00 AM·
Fort Lauderdale, FL, July 11, 2022 (GLOBE NEWSWIRE) -- The Singing Machine Company, Inc. (“Singing Machine” or the “Company”) (NASDAQ: MICS) -- the North American leader in consumer karaoke products -- today announced that its earnings for its fiscal year ended March 31, 2022 will be released on Thursday, July 14, 2022. The following day Management will host a conference call at 10:00 am Eastern time to discuss the financial results and provide a business update.
Conference Call Details:
Date: Friday, July 15, 2022
Time: 10:00 AM ET
Dial-in number: (800) 225-9448
Conference ID: MICS
An audio rebroadcast of the call will be available later in the day at: http://www.singingmachine.com/investors
About The Singing Machine
Singing Machine® is the leading provider of karaoke products to consumers across the world. The Company offers the industry's widest line of at-home and in-car karaoke entertainment products, which allow consumers to find a machine that suits their needs and skill level. The Company’s products are sold in over 25,000 locations worldwide, including at well-known retailers such as Amazon, Costco, Sam’s Club, Target, and Walmart. As the most recognized brand in karaoke, Singing Machine products incorporate the latest technology and provide access to over 100,000 songs for streaming through its mobile app and select WiFi-capable products. To learn more, go to www.singingmachine.com.
Investor Relations Contact:
Brendan Hopkins
(407) 645-5295
investors@singingmachine.com
www.singingmachine.com
www.singingmachine.com/investors
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on current expectations, estimates and projections about the Company's business based, in part, on assumptions made by management and include, but are not limited to statements about our financial statements for the fiscal year ended March 31, 2021. You should review our risk factors in our SEC filings which are incorporated herein by reference. Such forward-looking statements speak only as of the date on which they are made and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release.
Looks like they have been effective. Hasn't moved the PGNT price today.
It was up to like $8.90 this morning in pre-market trading. https://www.nasdaq.com/market-activity/stocks/mics/pre-market-trades So seems to be somewhat tradeable. I have no idea what NILE is going to want to do after their 6 months are up. But I'm excited to see how it plays out too. Very interesting.
Looks like the late filing has taken the stock down to the the low $8's. So I guess news still does have some effect on the stock price. I kind of expected them to be late.
Can Ault really just take the cash?
I mean he is the biggest shareholder, but he still has some fiduciary duty to the other shareholders. What's the reality of him being able to just tell management to hand over the cash?
When I look at the REG SHO list description it says
"SINGING MACH INC COM PAR $0.01"
I wonder if those could just be some $0.01 warrant that isn't showing up? Like maybe the company is dragging it's feet in doing some paperwork. Or if it is the actual shares sold short.
I've now sold half of what I had. I'm worried that the stock might fall after the money losing quarter is reported as Hweb2 has pointed out and the stock has doubled.
Reg SHO interesting
https://nasdaqtrader.com/trader.aspx?id=RegSHOThreshold
There we are on the list
Got it
QQQ, when is the stock purchased back in the next session? Open, midday, close?
That is a messy display. Complete with a crooked shelf. There does seem to be a supply problem. I'm not sure where the issue lies.
We broke $8 today temporarily.
ZYXI 6.92 (-21.98%) Well, that was short-lived. Maybe it was the buyback
Where do you hear that? I haven't heard that.
ZYXI (9.00 +18%) is having a good day today
ZYXI (9.00 +18%) is having a good day today
Thanks for posting the minute and to Avidfisher for the link.
I thought he sounded like he genuinely liked the management and he knew the company well enough. He sounds like he is having fun investing that $400M in various business and running a holding company. I don't trust him either but he sounds like he'd be happy to hold the company just to have in his collection though I'm sure he has some plans.
First mention
Second mention
LDMicro presentation replay is out now
Looks like you have to signup though. It's not on their youtube channel right now.
https://ldinv12.mysequire.com/recording?session_id=3a60d3d0-207f-475e-8301-e00b486ceb08
MICS showed some nice strength today with more orderly trading.
Looks like a Singcast model was purchased at my local Walmart
I'm curious to see the reviews on this new model.
https://www.walmart.com/ip/Singing-Machine-Sing-Cast-Max-Black-SMC2035/281714700
After
Before
Most of the presentations have videos, but not that one yet. I'll post the link when I see it. I want to see it again too.