COV.v: Actually, the story is getting better IMO, their licensing revenue grew to $1.36M this quarter from a new "international customer" for their medical device coating systems and they also took in another $499k in service revenues, which Brian explained during the CC is unrelated to that additional licensing revenue, so it appears their coating systems business is firing on multiple cylinders all the sudden. The prospects for developing a long term royalty stream from their medical coatings business has always been an exciting factor of this company for me....and I'm very encouraged by this apparent spike in interest.
Of course I would love to see some diversification of their revenue stream for their existing products.....and it would be even more exciting if the diversification came with a lower cost of sales than they are paying in Saudi Arabia.
All in all, I still believe this is a deep value compared to US peers ALQA, MDWD, MDXG, and SRDX to name a few.
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