["I'm sorry, these two guys are just shameless liars, if you don't see that you're not looking. They are going back on explicit promises from the past, like that year 2 of the contract with UMG would include incentives and increase revenue. The whole thing is just incredulous, what happened to eliminating cross platform transcoding, to 30 identified verticals? So now it'll be a small player in the crowded hosting space with a value added that might or might not be significant. Sorry, this is just total bullshit, (another few months, again, to work things out?) - it might be eventually an ok little company making a little profit, but it has been proven in the end to be not worth the wait."]
Looks like you might have to read the CC again..
Revenue has increased 4 quarters in a row, even if it took you some time to figure that out.
They're dependent on UMG, how fast they're going, not really much they can do about that, but this has always been a known issue.
You might also appreciate that they have significantly reduced cost, and are back to break-even.
You might also appreciate that they've automated the whole process, which means that much of the additional sales go straight to the bottom line.
You might also appreciate that whilst Clipstream worked pretty well under most circumstances, it ran into real world problems like ISP throttling. They spend lots of time trying to come up with a solution but in the end gave up on their own codec.
Now they're trying again with a commercial codec (HVEC), and they've made good progress, as some people here on this board also noted. It's not there yet for everybody, especially with older computers, but it has a chance of getting there.
In the meantime, they've built out a hosting platform with some special features, that could also be used as a business even if their own player doesn't catch on.
This is a huge market with lots of growth, their process is highly automated, they really don't need a whole lot of success for it to materially impact financials.
This is one 'vertical' there is at least one other that they have ready (API, third party branding). They said they had identified 30 verticals, not that they would be all built at time X. Especially given the lost years with their own codec, I don't really think they are much to blame for that but I know opinions differ here. It's a very small outfit and they rightly concentrated on getting the engine right. What is the use of building 'verticals' when the engine doesn't perform up to scratch?
Basically they are improving on all metrics, revenue, cost, performance. While the jury is still out on Clipstream, I still don't see much downside even after the couple of upticks we had and I was mildly encouraged by the CC. Of course that's just my opinion..
Frustratingly slow, yes, especially for those that sat out the whole journey. But there are glimpses of light at the end of the tunnel for those willing to look, IMHO.
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