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Wednesday, November 20, 2019 1:23:34 PM
Let's see IF RS needed.... understand simple math folks even if RS I anticipate value of ones holding to be positive 4-6X after uplist NASDAQ.
READ WHAT CEO Suen said in yesterday's PR.
We recently reported 26% sequential topline growth for the third quarter of 2019, reaching a record $9.0 million, and we turned adjusted EBITDA positive,” commented Suen. “On a trailing 12-month basis, we’re at $32 million in revenue. Compared to our peers, the market valuation for a company like ours with a 100% subscription-based recurring revenue stream and growing at this rate should garner a several times multiple in its price-to-revenue ratio, rather than merely a fraction as it does today.”
Publicly-traded SaaS/PaaS companies typically trade on average at around 10x revenue according to Crunchbase, with other microcap comparables trading around 4x revenue on average. Companies with cloud-based software or software-driven platform-as-a-service models attract higher multiples due to ‘stickier,’ higher-margin customer engagements that provide greater transparency into revenue and profitability.
“We are encouraged by the increasing number of small-and-medium sized businesses coming onto our CreateApp platform, as well as existing customers’ rapid adoption of new features and modules,” continued Suen. “Given all of these factors, I believe the market price of our stock does not reflect our financial performance, the quality of our revenue, and the strong prospects for our growth to accelerate over the coming quarters. As a result, I have continued to invest personally in WEYL.”
In October, Suen purchased from the open market 99,000 shares of the company common stock, which was also reported on Form 4. Suen now holds 2,832,000 shares of Weyland stock. Pursuant to Weyland Tech’s insider trading rules, company insiders who purchase the company’s common stock from any source are required to hold it for a minimum of two years.
The company is preparing for an uplist to the Nasdaq Stock Market, where it expects to attract the attention of a broader base of investors, particularly institutional and family offices.
Recent LGIQ News
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/14/2024 02:43:28 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/09/2024 09:08:29 PM
- Form SC 13D - General statement of acquisition of beneficial ownership • Edgar (US Regulatory) • 11/13/2023 09:30:22 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/03/2023 08:11:35 PM
- Form 425 - Prospectuses and communications, business combinations • Edgar (US Regulatory) • 10/25/2023 09:04:15 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 10/25/2023 09:03:09 PM
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 10/10/2023 10:48:27 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 10/02/2023 04:28:19 PM
- Form PREM14A - Preliminary proxy statements relating to merger or acquisition • Edgar (US Regulatory) • 09/29/2023 09:20:23 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/08/2023 08:32:45 PM
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