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.
AESI...Good info, Thanks researcher. Re: AESI...Raymond James analyst James Rollyson maintains Atlas Energy Solutions (NYSE:AESI) with a Strong Buy and raises the price target from $26 to $27.
DBGI...Looking at my cost basis, I was up 17.62% last year on what I sold (and mind you, I bought into this one aggressively). As of yesterday, I am up 53.45% so far on what I've sold. I am currently down 19% on what I still hold which is not near what I had at my peak.
So not too shabby for a stock in a sector I don't like🙂. I think when I first got into DBGI I mentioned I don't like the retail clothing space. It was the forward looking and low float that got me in.
DBGI...It's been a GREAT trade for me hweb...I could sell every share of DBGI I currently own @ $3 and still be waaaay up on it since I first started trading it. Was going to grab more near $3 but was on the phone and missed it. Now I'll set a few limit buy orders and hope to get some filled if it dips back down.
CXDO✔️...Crexendo Growth Surges with Four and a Half Million Users on its Software Platform With Platform Growing At Nearly Twice The Industry Average
PHOENIX, AZ / ACCESSWIRE / April 16, 2024 / Crexendo, Inc. (NASDAQ:CXDO) ("Crexendo" or the "Company"), an award-winning premier provider of cloud communication platforms and services, video collaboration and managed IT services designed to provide enterprise-class cloud solutions to any size business, today announced that its cloud communication platform now supports over four and a half million end users* globally.
When Crexendo acquired NetSapiens in June of 2021 there were approximately 1.7 million users on the platform, and since then, platform use has increased over 150%. With additional new licensees deploying Crexendo's NetSapiens platform combined with strong growth from their existing base of over 220 licensees, there are now over 4.5 million users utilizing the Crexendo NetSapiens software platform for their communication needs.
"We continue to see very strong adoption of our offerings, and we see no end in sight," said Crexendo CEO and Chairman Jeff Korn. "We are very excited by our continued strong growth. This announcement confirms for us the findings by Frost & Sullivan's who in their recent 2024 report awarded us the Competitive Strategy Leadership Award for Excellence in Cloud Communications as well as confirming that we are the fastest growing UCaaS platform in the industry. We believe this growth is tied to our disruptive business model, our superior cloud offerings and our talented team that truly are the best in the industry. The efforts of our team are further supported by G2.com's Spring 2024 Reports that recently highlighted Crexendo's outstanding customer service with 19 1st place rankings based on real user feedback."
Korn added "This very important metric, which follows our very strong third and fourth quarter earnings reports. Our significant momentum continues to give me great confidence in our strategic growth plan this year and beyond. I am convinced that our company is executing well on all fronts, and we are very excited about our future."
*Users are defined as UCaaS application user seats including individual user licenses as well as applications such as conference bridges, call queues, and SIP trunks.
https://finance.yahoo.com/news/crexendo-growth-surges-four-half-130000129.html
DBGI...Hitting the skids AH's😵💫. The earnings report wasn't anything hot. We'll see what they say on the cc. Depending on what Hil says. who knows, may add if the price is low enough. Currently $3.04 x $3.50. 🤔
Digital Brands Group Reports Fourth Quarter and Fiscal Year 2023 Financial Results
https://finance.yahoo.com/news/digital-brands-group-reports-fourth-201500902.html
DBGI...Earnings will be released at 4:30 today...Share count is UP a clip to approx 1.75M...
https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&ref=318233481&type=HTML&symbol=DBGI&cdn=75b1de9a54dc4448b467d6b4c02cd3d5&companyName=Digital+Brands+Group+Inc.&formType=424B5&formDescription=Prospectus+%5BRule+424%28b%29%285%29%5D&dateFiled=2024-04-12
Been adding back shares on dips though. Share price was in the high $3's for most the day, current price is $4.15.
Spin the wheel.
We'll see what happens.
CLMB..."Climb Global Solutions, Inc. (NASDAQ:CLMB) simply continues to execute on their business plan, putting up the latest of a string of double-digit quarterly earnings growth. They remain a minnow in a zillion dollar space that connects new technology that lacks distribution with a buying community hungry for evolving product in the usual favorites - cybersecurity, AI and cloud. (Finally a chance to use those words in one sentence!)"
https://finance.yahoo.com/news/climb-global-solutions-clmb-minnow-082415203.html
Hweb, who would have ever thunk, that back in the day when you were discussing CLMB while it was still trading @ $10 a share as WSTG, it would be referred to as a "Minnow in a ZILLION dollar space" just a few years later??
Excellent long term call!!
(I don't have as much as I did back in the day, but currently hold a decent position).😎👍
CXDO...Notes from this weeks Crexendo conference presentation...
- Targeting $100M in revenues (almost 100% increase} over the next 2 years (organic growth + acquisitions).
- Approx 70% combined gross margins.
- Strong monthly recurring revenue stream.
- Strong backlog.
- Good cash, very low debt.
- Outgrowing Microsoft Azure & Cisco BroadSoft by 2-1 on a percentage basis.
- Rapid transition of companies moving to the cloud. Approx 70% of the companies internationally still neeed to move over. Not a matter of if, but when.
https://www.crexendo.com/why-crexendo/for-investors/#elementor-action%3Aaction%3Dpopup%3Aopen%26settings%3DeyJpZCI6IjIxNjgzIiwidG9nZ2xlIjpmYWxzZX0%3D
GTEC...Greenland Technologies Completes Initial Sales Delivery to Maryland's Port of Baltimore
(Side Note: Hopefully earnings will be out by early next week).
EAST WINDSOR, N.J., April 10, 2024 /PRNewswire/ -- Greenland Technologies Holding Corporation (Nasdaq: GTEC) ("Greenland" or the "Company"), a technology developer and manufacturer of electric industrial vehicles and drivetrain systems for material handling machineries and vehicles, today announced completion of its initial sales delivery to Maryland's Port of Baltimore of the Company's HEVI GEL-5000 all-electric front loader. The sales are part of a bid Greenland won in 2023, under which Greenland will help facilitate the Port of Baltimore's ambitious plan to electrify port equipment.
The HEVI GEL-5000 was purpose-designed to not only improve working conditions for operators but also significantly reduce the cost of ownership. The HEVI GEL-5000 is a 5.0 ton rated load all-electric lithium wheeled front loader that boasts strong power, approximately 40,000 pounds operating weight and increased payload options, making it a clean, green front loader with 9 hours of operation time per charge.
The all electric front loader sets new standards, offering operators numerous advantages, such as simplicity in maintenance, zero operating emissions, and an enhanced overall experience, making it ideal for both indoor and outdoor usage, including construction, mining, agriculture, industrial, urban construction, waste management, property management and more. Customers can learn more about the HEVI GEL-5000 Electric Wheel Front Loader or schedule a demo at www.gethevi.com.
EAST WINDSOR, N.J., April 10, 2024 /PRNewswire/ -- Greenland Technologies Holding Corporation (Nasdaq: GTEC) ("Greenland" or the "Company"), a technology developer and manufacturer of electric industrial vehicles and drivetrain systems for material handling machineries and vehicles, today announced completion of its initial sales delivery to Maryland's Port of Baltimore of the Company's HEVI GEL-5000 all-electric front loader. The sales are part of a bid Greenland won in 2023, under which Greenland will help facilitate the Port of Baltimore's ambitious plan to electrify port equipment.
(PRNewsfoto/Greenland Technologies Holding Corporation)
(PRNewsfoto/Greenland Technologies Holding Corporation)
The HEVI GEL-5000 was purpose-designed to not only improve working conditions for operators but also significantly reduce the cost of ownership. The HEVI GEL-5000 is a 5.0 ton rated load all-electric lithium wheeled front loader that boasts strong power, approximately 40,000 pounds operating weight and increased payload options, making it a clean, green front loader with 9 hours of operation time per charge.
The all electric front loader sets new standards, offering operators numerous advantages, such as simplicity in maintenance, zero operating emissions, and an enhanced overall experience, making it ideal for both indoor and outdoor usage, including construction, mining, agriculture, industrial, urban construction, waste management, property management and more. Customers can learn more about the HEVI GEL-5000 Electric Wheel Front Loader or schedule a demo at www.gethevi.com.
📢Digital Brands Bailey 44 NOW OPEN...
https://www.premiumoutlets.com/outlet/allen/stores/bailey-44
DBGI...📢Digital Brands Bailey 44 NOW OPEN...
https://www.premiumoutlets.com/outlet/allen/stores/bailey-44
INMD...Thanks for the heads up everyone. I joined in and bought a position. The numbers you posted SSKILLZ look good. (Looks like very low debt also, which I like).
DTI...Yep. That was a NICE call from gilead. Unfortunately I missed that one too 😕.
Lots of good picks to sift through lately though.
REI/AESI...Nice timing on REI & AESI researcher. I'm still holding a strong position in AESI😀 but missed out on REI😵💫.
IMMR...Nice timing RNsiderbuying.
CSPI...ARIA Cybersecurity Solution (from last week)...
We had a great crowd for ARIA’s presentation at CS4CA: Cyber Security for Critical Assets USA Summit yesterday. William Bent Jr. outlined how to develop a comprehensive, proactive approach to cybersecurity risk management, and detailed the real-world business outcomes enabled by zero-trust transformation.
He also covered available solutions to insulate organizations from known and unknown attacks, including ARIA’s award-winning AZT PROTECT. AZT PROTECT stands out for its ability to thwart an array of attacks like SolarWinds, Sandworm, PoolParty, and even the recent UnitedHealth attack.
If you’re at hashtag#CS4CA today, stop by the ARIA booth to learn how AZT PROTECT can protect your critical infrastructure, or read more here: https://hubs.ly/Q020fLLr0
https://www.linkedin.com/company/aria-cybersecurity-solutions/posts/?feedView=all
CXDO...Crexendo(R) Ranked #1 in 19 Customer Satisfaction Categories in G2's Spring 2024 Reports, Marking the Fifth Consecutive Quarter That Crexendo Has Been Rated First in Multiple Satisfaction Categories
The company was also voted a top trending provider for VoIP, UCaaS, and CCaaS, by real customers.
PHOENIX, AZ / ACCESSWIRE / April 2, 2024 / Crexendo®, Inc. (NASDAQ: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 that it has been ranked first in 19 customer satisfaction categories in G2's Spring 2024 Reports for VoIP, UCaaS, and Customer Communications Management. G2.com is the leading business software review website where users research and select solutions reviewed and recommended by real, verified customers.
The Spring reports mark the fifth consecutive quarter that Crexendo has been rated #1 in multiple satisfaction categories, besting their total of 18 #1 rankings in G2's Winter 2024 Reports. Crexendo is again voted Best Usability, with #1 ratings for Ease of Setup, Ease of Use, and Ease of Administration. The Company retained the Best Relationships award, with #1 ratings for Quality of Support, Ease of Doing Business With, and Users Most Likely to Recommend. Crexendo was also honored with #1 product feature ratings for Video Conferencing, File Sharing, Voicemail to Email, Voicemail to SMS, CCaaS Option, Native VoIP, and more.
Crexendo was recognized as a top trending provider in G2's Momentum Grid Reports. The Momentum Grid Reports recognize companies that real customers voted as the top trending choices out of all providers in each product category. Crexendo also maintains its 4.9 out of 5-Stars rating, which it has sustained for eight consecutive quarters.
"We are thrilled that real user on G2.com continue to confirm what we already know that our service is second to none. The consecutive top rankings are a testament to the hard work of our entire team. I am convinced that you can't find a better cloud business communications provider than Crexendo. We are the fastest-growing platform in the U.S. with over 4 million end users globally and growing." Said Jeff Korn, Crexendo CEO and Chairman.
Korn continued "This has been a very special time for us with numerous accolades including Frost & Sullivan honoring us with their Competitive Strategy Leadership Award for Cloud Communications. Our innovation, competitive strategy and forward-thinking approach is apparent in our solutions, such as Crexendo's VIP CX cloud contact center platform, which leverages generative AI. Innovation is central to everything we do, and we are very excited about continued innovations coming from Crexendo. We are honored that our customers recognize the efforts of everyone at our Company."
"While there are over 150,000 different software products and services featured on G2, only the highest ranked are recognized each quarter according to their category, company size, geography, and report type," said Sara Rossio, Chief Product Officer at G2. "These reports serve as valuable, tailored lists for buyers conducting research in their purchasing journey. We extend our congratulations to those vendors who have achieved a coveted spot in a G2 report, driven by insights from real customer feedback."
"The B2B software landscape is constantly evolving - and as the world's largest software marketplace, we have a direct lens into what's happening in real-time," said Chris Voce, VP of Market Research at G2. "G2 quarterly reports - rooted in the most recent customer feedback - are trusted by the 90 million software buyers visiting G2.com each year, and those featured in these reports have achieved the highest rankings out of thousands on G2."
About Crexendo
Crexendo, Inc. 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.
About G2
CLMB...Quote from CEO Dale Foster Re: Climb Global..."“I enjoy it and I have a passionate team behind me that feels the exact same way. It’s more fun now than it ever has been. We have multiple targets [in the] UK and Europe, and then we’ll look beyond that. But then, I don’t know. There’s no end game for me, that’s for sure,”
Climb CEO talks emerging vendors, expansion and UK importance
We speak to the distributor’s chief executive, Dale Foster, who has plans to widen the reach of the business and believes the need for specialists remains as high as ever
Published: 28 Mar 2024
https://www.computerweekly.com/microscope/news/366575756/Climb-CEO-talks-emerging-vendors-expansion-and-UK-importance
ISUN...Picking up steam...The Next2Sun joint venture deal announced at the end of last year is pretty interesting...
"Construction of the first agrivoltaics plant with Next2Sun system will begin in Vermont in early 2024.."
Earnings should be out soon, so hopefully we get an update. (BTW, Next2Sun just recently built the world's largest vertical PV plant at Frankfurt Airport https://solarpowermanagement.net/article/118641/_Next2Sun_Builds_Worldand_s_Largest_Vertical_PV_Plant_at_Frankfurt_Airport )
Vertical agrivoltaic plant to be constructed in Vermont
Vertical solar plants with bifacial modules can absorb more energy than other tilted models and are finding agricultural application around the world.
Here's the iSun / Next2Sun news...
JANUARY 8, 2024
U.S. solar company iSun Inc. is partnering with German agrivoltaics manufacturer Next2Sun AG to construct a vertical agrivoltaic system in South Burlington, Vt., set to begin operation early this year.
The 50.37 kW (ac) plant will sit on 3.7 acres and consist of 3 rows separated by 30 feet. There will be 138 monocrystalline bifacial solar modules placed on 69 ground-mounted Next2Sun racks. Next2Sun also states that vegetables and saffron can be planted between each row.
Vertical solar plants are an alternative for landowners transitioning to renewable energy because their directional orientation and bi-facial design allow them to absorb more energy than other tilted models. One study published in the Office of Scientific and Technical Information database found that ground-mounted, vertical, east-west facing bifacial solar panels outperformed south-north-facing, optimally tilted modules by almost 15%, showing an albedo of 0.5 percent.
Next2Sun reports that its vertical plants help to avoid the overbuilding of agricultural land because they take up less space. One Colorado farmer found that installing vertical, bi-facial solar panels offered a cost-effective and environmentally friendly alternative for renewable electricity generation. “Nestled between two greenhouses, the unique vertical bifacial solar panel system optimized land use while potentially capitalizing on the high albedo effect of the highly reflective greenhouse materials,” he said.
This most recent project is part of a more extensive portfolio of Next2Sun’s patented solar panel design. At the start of 2023, the company announced a partnership with international green energy infrastructure developer TEP Renewables Ltd to expand agrivoltaic systems in the U.K.
The Next2Sun system also adds to iSun’s burgeoning clean energy technology portfolio. The organization has been exploring innovative solutions to help advance technology since the early seventies. “Of all the innovations we’ve enabled, none have been as important as the transition from dirty to clean energy,” the company states.
The Renewable Energy Solutions Program of the German Energy Solutions Initiative supports the project. The program helps German companies in the renewable energy and energy efficiency industry enter new markets. The initiative is part of a government program intended to support suppliers of sustainable energy solutions start in foreign markets.
The German Energy Solutions Initiative focuses on helping small and medium-sized businesses. It supports participants by giving them a good idea of what’s needed to enter a specific market in addition to sharing insights on what new markets to watch out for.
Heiko Hildebrandt, the CEO of Next2Sun, said, “In iSun, we have found a partner who, like us, wants to accelerate the energy transition. With our vertical bifacial agrivoltaics system, we can contribute to this, especially in areas such as the north-east of the USA. The vertical Next2Sun system always produces electricity when conventional P.V. systems are producing less.”
https://pv-magazine-usa.com/2024/01/08/vertical-agrivoltaic-plant-to-be-constructed-in-vermont/
CXDO...CX Transformation: How Enhancing CCaaS with AI Is Revolutionizing Customer Experience
https://www.crexendo.com/blog/cx-transformation-how-enhancing-ccaas-with-ai-is-revolutionizing-customer-experience/
STCN...Thanks much for eveyone's time and responses.👍
STCN...TY mandjb.
STCN...mandjb, what do you make of the preferred having a conversion price of $10.27? If all preferred were converted, wouldn't it add approx $203M to the balance sheet? Or am I figuring this wrong?
STCN...Thanks littlefish and mandjb. All things I'll keep in mind. Going to keep following ModusLink and cool my heels a bit. Will see what this Q brings
STCN...Thank you littlefish. What is it about the share structure that sends up a red flag? No need for a quick response, it's just that the stock has very little volume, so just trying to be cautious and appreciate anyone's opinion, especially anything that looks to be negative.
Re: Share structure...There is a very heavy fully diluted insider ownership. I posted this a while back from info posted in STCN's Q1 10Q (I veiwed this as positive, but like I said, I keep thinking I'm missing something)...
From the 10 Q (page 26)...
"On May 1, 2023, the Company and Steel Holdings executed a series of agreements in which the Steel Partners Group agreed to transfer certain marketable securities held by the Steel Partners Group to Steel Connect in exchange for 3.5 million shares of Series E Convertible Preferred Stock of Steel Connect"
"Following approval of the Nasdaq Proposal by the Steel Connect stockholders (the “Stockholder Approval”), the Series E Convertible Preferred Stock became convertible into an aggregate of 19.8 million shares of the Common Stock, and votes together with the Common Stock and participates in any dividends paid on the Common Stock, in each case on an as-converted basis."
From the 10Q (page 37)...
"Any holder of the Series E Convertible Preferred Stock (“Holder”), may, at its option, convert all or any shares of Series E Convertible Preferred Stock held by such Holder into Common Stock based on a conversion price of $10.27 (the “Conversion Price”) per share".
STCN&cdn=cdda6eab612d1b4782f68846ceb63c97&companyName=Steel+Connect+Inc.&formType=10-Q&formDescription=General+form+for+quarterly+reports+under+Section+13+or+15%28d%29&dateFiled=2023-12-14" rel="nofollow noopener noreferrer ugc" target="_blank">https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&ref=317925943&type=HTML&symbol=STCN&cdn=cdda6eab612d1b4782f68846ceb63c97&companyName=Steel+Connect+Inc.&formType=10-Q&formDescription=General+form+for+quarterly+reports+under+Section+13+or+15%28d%29&dateFiled=2023-12-14
STCN...Looked at the 10Q & balance sheet again this weekend. Keep thinking I'm missing something🤔...But WHAT?❓❓❓
OK, I understand the stock is illiquid and the company puts out very little news and does no presentations or cc's. Also the name Steel Connect does NOT CONNECT very well w/ the name ModusLink. I get it. Not real attractive to your average everyday investor...
HOWEVER, these guys just reported FULLY DILUTED $0.18 EPS for the Q, a sequential increase in revenue, opened two new facilities in Thailand to service the Asia Pacific region, they have $276M in CASH & equiv, $10.59 per DILUTED share in cash, under $13M in debt. and net NOL carryforwards for federal and state tax purposes of approximately $369.9M and $138.8M at July 31, 2023.
AND a LOW FLOAT of only 2.4M shares.
Share price = $9.62
Here's the latest 10Q...
https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&ref=318162836&type=HTML&symbol=STCN&cdn=b0d2c745705acb17cce4783902215b06&companyName=Steel+Connect+Inc.&formType=10-Q&formDescription=General+form+for+quarterly+reports+under+Section+13+or+15%28d%29&dateFiled=2024-03-15#ib62734797611461d9c38be4bc57c7dec_130
(If anyone catches any red flags, please let me know).
DBGI...Wait for it...
https://www.premiumoutlets.com/outlet/allen/stores/bailey-44
Digital Brands Group, Inc. plans to open its first retail store in the first half of April at the Simon Premium Outlet Mall in Allen, Texas.
Current share price $3.53
Current market cap $3.75M
CSPI...Trades post-split tomorrow...Would be nice if there is contract news at the same time or sometime within the next week or two. You never know.
Anyway, It'll be interesting to see what the share price does after the split.
IMMR...Someone has been lightening their load so I added a pretty good clip this morning in the low-mid $7.30's. I'll add more if it drops more from here.. We'll see where this heads from here.
CXDO...Crexendo Talks About New Distinctions...
CSPI...The price is possibly factoring in the fact the large pharma company CSPi signed a contract with a few months back took 18 months to do DD on AZT PROTECT. That could/will be a huge catalyst for more big contracts going forward (IMO).
CSPI💪...+10% again today. This is nucking futs! What a powerful performace this year!! Anyone smell the ink drying on another contract?😎
IMMR...From the 10k..."Our licensees currently include some of the top makers of mobile devices in the world, including Samsung, Google, Sony, Panasonic, as well as integrated circuit manufacturers such as Awinic and Dongwoon Anatech.
Revenue generated from OEMs and integrated circuit customers in the mobile communications market represented 41% and 60% of our total revenue in the years ended December 31, 2023 and 2022, respectively.
Gaming and VR: We have licensed our patents directly to Microsoft, Sony and Nintendo for use in their console gaming products. We have also licensed our patents to Sony for use in virtual reality (“VR”) products. Additionally, we have licensed our patents to third party gaming peripheral manufacturers and distributors for use in spinning mass and force feedback devices such as controllers, steering wheels and joysticks, to be used with PC platforms running on Microsoft Windows and other operating systems, as well as in connection with video game consoles made by Microsoft, Sony, Nintendo and others. Our PC gaming licensees include Guillemot and Microsoft. We will not receive any further royalties from Microsoft under our current agreement with Microsoft, including with respect to Microsoft’s gaming products or any other haptic-related product that Microsoft produces or sells."
https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&ref=318149122&type=HTML&symbol=IMMR&cdn=1cc4600777ca9377c4776de4496edf3a&companyName=Immersion+Corporation&formType=10-K&formDescription=Annual+report+pursuant+to+Section+13+or+15%28d%29&dateFiled=2024-03-11#BRN5_27102023135554156
IMMR...Is Immersion still locked in w/ Sony for PS5? If so, IMMR should be a strong 1yr hold based on just this news alone (if it materializes)...
The PS5 Pro is reportedly coming this holiday season
https://www.engadget.com/the-ps5-pro-is-reportedly-coming-this-holiday-season-084404542.html
When PS5 was released, I made a nice profit on this stock.
CLMB...Anyone looking for an AI play? Climb is a good one (IMO). Kind of an upcoming AI ETF under the symbol CLMB😎. Go to the !0:00 mark in last weeks Sidoti presentation and listen to the next 1:15 minutes past that. Then go to the 26:00 mark and listen to a couple more minutes...
https://sidoti.zoom.us/webinar/register/WN_Ue7M0VdrRkCKfAhenZTvKw
(The entire presentation is really worth listening to).
What an outstanding job Dale Foster has done since taking over as CEO 4 years ago. One of the best run companies I have ever invested in. The management team & emploees are top-notch!!
5yr stock action...
03/18/2019 share price = $11.30
03/18/2024 share price = 67.50
Also, after listening to the presentation, I'm guessing there will be a stock split this year. They are looking for more liquidity. Dale said the problem is a lot of investors are holding and not selling.
Shares outstanding 4.8M shares.
Float 3.6M shares.
CSPI..."AZT PROTECT takes over where other solutions come up short, automatically stopping the new type of attacks that have emerged this decade that others miss, and before they can execute. It also ensures companies can comply with the SEC's new rules forcing reporting of ‘material breaches' - providing proof that a given breach did not cause material harm and therefore does not require an 8K filing."
https://finance.yahoo.com/news/aria-cybersecurity-wins-globee-cybersecurity-123000915.html
Businesses Foresee Major Impact From New SEC Cybersecurity Disclosure Rules
March 1, 2024
- "Publicly traded companies are not the only ones being impacted. The new ruling also includes high-level disclosures involving third-party vendors of these organizations. Needless to say, the requirements to comply with the new SEC cybersecurity disclosure ruling have created a ripple effect that reaches deep within these organizations and outside of them to the companies that support them."
- "Today, only 2% of survey respondents have yet to start the process to comply with the new ruling."
https://www.helpnetsecurity.com/2024/03/01/sec-cybersecurity-disclosure-impact-on-business/
CSPi's AZT PROTECT is so easy to implement, even a toddler can do it...
"Existing solutions are proven to not fully protect these valuable OT assets from a new style of cyberattack, as well as being complex to deploy and update. AZT PROTECT is the perfect complement to these existing defenses; it is up and running within minutes, requires no staff training or expertise, and provides protection against all forms of cyberattack, both known and unknown."
https://investorrelations.cspi.com/news/news-details/2024/ARIA-Cybersecurity-Calls-for-New-Approach-to-Securing-Operational-Technology-from-Sophisticated-Cyberattacks/default.aspx
STCN...$8.56 ($10.59 per diuted share in cash)...Steel Connect Reports Second Quarter Fiscal 2024 Financial Results
Second Quarter 2024 Results
Net revenue totaled $43.0 million, as compared to $50.8 million in the same period of the prior fiscal year.
Net income was $5.3 million, as compared to a net loss of $0.5 million in the same period of the prior fiscal year.
Net income available to common stockholders was $4.8 million, as compared to a net loss available to common stockholders of $1.1 million in the same period of the prior fiscal year.
Adjusted EBITDA* was $3.7 million, as compared to $4.6 million in the same period of the prior fiscal year.
Net cash provided by operating activities was $0.1 million.
Free Cash Flow* totaled $(1.1) million.
Total debt was $12.9 million; Net Cash* totaled $263.5 million.
Six-Month Fiscal Year-to-Date Financial Results
Net revenue totaled $84.4 million, as compared to $102.1 million in the same period of the prior fiscal year.
Net income was $9.8 million, as compared to $4.4 million in the same period of the prior fiscal year.
Net income available to common stockholders was $8.7 million, as compared to $3.4 million in the same period of the prior fiscal year.
Adjusted EBITDA* was $7.5 million, as compared to $11.9 million in the same period of the prior fiscal year.
Net cash provided by operating activities was $6.7 million.
Free Cash Flow* totaled $5.0 million.
* See reconciliations of these non-GAAP measurements to the most directly comparable GAAP measures included in the financial tables. See also "Note Regarding Use of Non-GAAP Financial Measurements" below for the definitions of these non-GAAP measures.
NEW YORK, March 15, 2024--(BUSINESS WIRE)--Steel Connect, Inc. (the "Company") (NASDAQ: STCN) today announced financial results for its second quarter ended January 31, 2024.
Results of Operations
The financial information and discussion that follows below are for the Company's operations.
Due to the application of pushdown accounting in connection with the exchange transaction ("Exchange Transaction") on May 1, 2023 with Steel Partners Holdings L.P. ("Steel Partners"), the Company’s consolidated financial statements include a black line division between the two distinct periods to indicate the application of two different bases of accounting, which may not be comparable, between the periods presented. The pre-exchange period through April 30, 2023, is referred to as the "Predecessor" period. The post-exchange period, May 1, 2023, and onward, includes the impact of pushdown accounting and is referred to as the "Successor" period.
As it relates to the results of operations, while the Successor period and the Predecessor period are distinct reporting periods, the effects of the change of control for financial statement purposes did not have a material impact on the comparability of our results of operations between the periods, unless otherwise noted related to the impact from pushdown accounting.
Net Revenue
Net revenue for the second quarter decreased $7.7 million, or 15.2%, as compared to the same period in the prior fiscal year. This decrease in net revenue was primarily driven by lower volumes associated with existing clients in the computing and consumer electronics markets, offset partially by new business revenue and new program starts with clients in the consumer electronics market.
Net revenue for the six months ended January 31, 2024 decreased $17.8 million, or 17.4%, as compared to the six months ended January 31, 2023. This decrease in net revenue was primarily driven by lower volumes associated with existing clients in the computing and consumer electronics markets, partially offset by new business revenue and new program starts with clients in the consumer electronics market. Fluctuations in foreign currency exchange rates had an insignificant impact on net revenues for the three and six month periods ended January 31, 2024 and 2023, respectively.
Cost of Revenue
Total cost of revenue decreased by $6.0 million or 16.0% for the second quarter, as compared to the same period in the prior fiscal year. This was primarily driven by a decrease in materials procured on behalf of our clients of $6.9 million as a result of lower sales volumes associated with existing clients in the computing and consumer electronics markets. The decrease in cost of materials was partially offset by increases in labor costs for new business revenue in the consumer electronics market.
Total cost of revenue decreased by $13.2 million or 17.7% for the six months ended January 31, 2024, as compared to the six months ended January 31, 2023. This was primarily driven by a decrease in materials procured on behalf of our clients of $12.8 million as a result of lower sales volumes associated with clients in the computing and consumer electronics markets. Fluctuations in foreign currency exchange rates had an insignificant impact on cost of revenues for the three and six month periods ended January 31, 2024 and 2023, respectively.
Gross Profit Margin
Gross profit decreased $1.7 million or 13.1% in the second quarter as compared to the same period in the prior fiscal year primarily due to the lower sales volume discussed above. Gross profit percentage increased 70 basis points to 26.4% from 25.7% in the second quarter as compared to the same period in the prior fiscal year, primarily due to changes in customer sales mix.
Gross profit decreased $4.5 million or 16.5% in the six months ended January 31, 2024 as compared to the six months ended January 31, 2023, primarily driven by lower sales volume discussed above. The gross profit percentage remained relatively unchanged from the prior period. Fluctuations in foreign currency exchange rates had an insignificant impact on the Company's gross margin for the three and six month periods ended January 31, 2024 and 2023, respectively.
Selling, General and Administrative
Selling, general and administrative ("SG&A") expenses during the second quarter decreased by approximately $1.7 million or 16.5% as compared to the same period in the prior fiscal year due to Corporate-level activity, which decreased by $1.4 million primarily due to a decrease in legal and other professional fees.
SG&A expenses decreased by approximately $3.3 million or 15.9% during the six months ended January 31, 2024 as compared to the six months ended January 31, 2023. SG&A expenses for ModusLink Corporation ("Supply Chain") decreased by $0.8 million primarily due to bad debt expense recorded for a client in the consumer products industry during the six months ended January 31, 2023 that did not reoccur during the six months ended January 31, 2024. Corporate-level activity decreased by $2.5 million, primarily due to a decrease in legal and other professional fees. Fluctuations in foreign currency exchange rates did not have a significant impact on SG&A expenses for the three and six month periods ended January 31, 2024 and 2023, respectively.
Amortization Expense
Amortization expense of $0.9 million and $1.8 million for the three and six months ended January 31, 2024, respectively, was driven by the recognition of intangible assets in connection with the application of pushdown accounting as a result of the Exchange Transaction. As the Exchange Transaction closed on May 1, 2023, there was no activity for the three and six month periods ended January 31, 2023.
Interest Expense
Interest expense during the three and six months ended January 31, 2024 decreased $0.6 million and $1.2 million, respectively, as compared to the three and six months ended January 31, 2023, primarily due to the cessation of the amortization of the discount on the 7.50% Convertible Senior Note due September 1, 2024 (the "SPHG Note") as of May 1, 2023, the date of the Exchange Transaction.
Other Gains (Losses), Net
Other gains, net are primarily composed of investment gains (losses), fair value remeasurement gains (losses), foreign exchange gains (losses), interest income, and sublease income.
The Company recorded $4.1 million to Other gains, net for the three months ended January 31, 2024, primarily due to: (1) $3.5 million interest income earned on money market funds and (2) $1.0 million of net realized and unrealized gains recognized on investments in equity securities. This activity was partially offset by $0.6 million in unrealized losses recognized as a result of the fair value remeasurement of the SPHG Note at January 31, 2024. The Company recorded $2.6 million to Other losses, net, for the three months ended January 31, 2023 primarily due to $3.3 million in foreign exchange net losses.
The Company recorded $7.6 million to Other gains, net for the six months ended January 31, 2024, primarily due to: (1) $6.7 million interest income earned on money market funds and (2) $0.6 million of net realized and unrealized gains recognized on investments in equity securities. This activity was offset partially by $0.4 million unrealized losses recognized as a result of the fair value remeasurement of the SPHG Note. The Company recorded $0.4 million to Other gains, net, for the six months ended January 31, 2023, primarily due to (1) $0.6 million sublease income and (2) $0.5 million interest income earned on money market funds. This activity was offset partially by $0.8 million foreign exchange net losses.
Income Tax (Expense) Benefit
During the second quarter, the Company recorded income tax expense of approximately $0.2 million as compared to a $0.3 million income tax benefit for the same period in the prior fiscal year. The change in income tax expense is primarily due to higher taxable income in foreign jurisdictions, as compared to the prior fiscal year.
During the six months ended January 31, 2024, the Company recorded income tax expense of approximately $0.9 million as compared to $0.8 million for the six months ended January 31, 2023. The increase in income tax expense is primarily due to higher taxable income in foreign jurisdictions for the six months ended January 31, 2024 as compared to the six months ended January 31, 2023.
Net Income
Net income for the second quarter increased $5.9 million, as compared to the same period in the prior fiscal year. The increase in net income is largely driven by the $6.7 million favorable change in activity recorded to Other gains (losses), net. Refer to above explanations for further details.
Net income for the six months ended January 31, 2024 increased $5.4 million, as compared to the six months ended January 31, 2023. The increase in net income is primarily due to the $7.2 million favorable change in activity recorded in Other gains, net. Lower SG&A expenses also contributed to the increase in net income, offset partially by lower gross profits. Refer to above explanations for further details.
Additions to Property and Equipment (Capital Expenditures)
Capital expenditures for the second quarter totaled $1.1 million, or 2.7% of net revenue, as compared to $0.3 million, or 0.6% of net revenue, for the same period in the prior fiscal year.
Capital expenditures for the six months ended January 31, 2024 totaled $1.7 million, or 2.0% of net revenue, as compared to $0.9 million, or 0.8% of net revenue, for the six months ended January 31, 2023.
Adjusted EBITDA
Adjusted EBITDA decreased $0.9 million, or 20.1%, for the second quarter as compared to the same period in the prior fiscal year, primarily due to lower operational net income.
Adjusted EBITDA decreased $4.5 million, or 37.4%, for the six months ended January 31, 2024 as compared to the six months ended January 31, 2023, primarily due to due to lower operational net income.
Liquidity and Capital Resources
As of January 31, 2024, the Company had cash and cash equivalents of $276.4 million and ModusLink had readily available borrowing capacity of $11.9 million under its revolving credit facility with Umpqua Bank.
As of January 31, 2024, the fair value of outstanding debt was $12.9 million, which was comprised of $12.9 million principal outstanding on the SPHG Note.
About Steel Connect, Inc.
Steel Connect, Inc. is a holding company whose wholly-owned subsidiary, ModusLink Corporation, serves the supply chain management market.
ModusLink is an end-to-end global supply chain solutions and e-commerce provider serving clients in markets such as consumer electronics, communications, computing, medical devices, software and retail. ModusLink designs and executes critical elements in its clients' global supply chains to improve speed to market, product customization, flexibility, cost, quality and service. These benefits are delivered through a combination of industry expertise, innovative service solutions, and integrated operations, proven business processes, an expansive global footprint and world-class technology. ModusLink also produces and licenses an entitlement management solution powered by its enterprise-class Poetic software, which offers a complete solution for activation, provisioning, entitlement subscription, and data collection from physical goods (connected products) and digital products. ModusLink has an integrated network of strategically located facilities in various countries, including numerous sites throughout North America, Europe and Asia.
https://finance.yahoo.com/news/steel-connect-reports-second-quarter-113800392.html
CXDO...Dipped into the $4.80's today so I felt the need to start adding again. Will add more if it dips more from here. FY24Q1 results are only 2 months out and management seemed to hint in their Q4YE cc that they will be good. We'll see what happens...
STCN...Earnings should be released by/before Monday. STCN (ModusLink, Steel Connect) does not give cc's which is a bummer. But anyway, they recently opened 2 locations in Thailand...
AESI...researcher, Phenomenal call on this one back in December. Stock closed @ $21.41 today. Thanks. It's a decent position in my portfolio.