Board Change • May 20
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. Independent Director Igor Volshteyn was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Ankündigung • Jun 13
SeaChange International, Inc. (OTCPK:SEAC) announces an Equity Buyback for $6.16 million worth of its shares. SeaChange International, Inc. (OTCPK:SEAC) announces a share repurchase program. Under the program, the company will repurchase up to $6.16 million worth of its outstanding shares. The shares will be repurchased at a price per share of not less than $6.75 per share and not more than $7.25 per share. The company expects to use cash and cash equivalents to fund the purchase of shares. The company expressly reserves the right to purchase additional shares up to 2% of the issued and outstanding shares without amending or extending the offer. The offer will expire on July 10, 2024. Ankündigung • May 11
Enghouse Systems Limited (TSX:ENGH) completed the acquisition of Substantially all assets related to its product and services business SeaChange International, Inc. from SeaChange International, Inc. (OTCPK:SEAC). Enghouse Systems Limited (TSX:ENGH) entered into an asset purchase agreement to acquire Substantially all assets related to its product and services business SeaChange International, Inc. from SeaChange International, Inc. (OTCPK:SEAC) for $39 million on April 23, 2024. Enghouse Systems Limited will acquire substantially all of SeaChange’s assets related to its product and services business and will assume certain liabilities, for a total purchase price of $39 million. The Enghouse Asset Sale, which has been approved by SeaChange’s Board of Directors (the “Board”), is subject to various terms and closing conditions, including approval by a majority of the shares of SeaChange’s outstanding common stock. Subject to such closing conditions, Closing is expected to occur in early May 2024. The termination fee payable to Enghouse is $1.3 million.Needham & Company, LLC is acting as exclusive financial advisor to SeaChange in this transaction, and K&L Gates LLP is acting as legal counsel to SeaChange in this transaction.Enghouse Systems Limited (TSX:ENGH) completed the acquisition of Substantially all assets related to its product and services business SeaChange International, Inc. from SeaChange International, Inc. (OTCPK:SEAC) on May 9, 2024. Ankündigung • Apr 26
Enghouse Systems Limited (TSX:ENGH) entered into an asset purchase agreement to acquire Substantially all assets related to its product and services business SeaChange International, Inc. from SeaChange International, Inc. (OTCPK:SEAC) for $39 million. Enghouse Systems Limited (TSX:ENGH) entered into an asset purchase agreement to acquire Substantially all assets related to its product and services business SeaChange International, Inc. from SeaChange International, Inc. (OTCPK:SEAC) for $39 million on April 24, 2024. Enghouse Systems Limited will acquire substantially all of SeaChange’s assets related to its product and services business and will assume certain liabilities, for a total purchase price of $39 million. The Enghouse Asset Sale, which has been approved by SeaChange’s Board of Directors (the “Board”), is subject to various terms and closing conditions, including approval by a majority of the shares of SeaChange’s outstanding common stock. Subject to such closing conditions, Closing is expected to occur in early May 2024. The termination fee payable to Enghouse is $1.3 million.
Needham & Company, LLC is acting as exclusive financial advisor to SeaChange in this transaction, and K&L Gates LLP is acting as legal counsel to SeaChange in this transaction. Ankündigung • Aug 09
SeaChange International Announces Voluntary SEC Deregistration, Nasdaq Delisting SeaChange International, Inc. announced its voluntary decision to deregister its common stock with the U.S. Securities and Exchange Commission and delist its Common Stock from The Nasdaq Stock Market LLC. The Company intends to file a Form 25 with the SEC to remove its Common Stock from listing on Nasdaq and to deregister its Common Stock under Section 12(b) of the Securities Exchange Act of 1934, as amended (“Exchange Act”), on or about August 18, 2023, and as a result, the Company expects that the last trading day of its Common Stock on Nasdaq will be on or about August 28, 2023. The Company also expects to file a Form 15 with the SEC on or about August 28, 2023, to commence the process of terminating the registration of its Common Stock under Section 12(g) of the Exchange Act, and the filing of the Form 15 immediately suspends the Company’s reporting obligations under Sections 13(a) and 15(d) of the Exchange Act, including Forms 10-K, 10-Q, and 8-K. Board Change • Aug 08
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Lead Independent Director Matthew Stecker is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Jul 05
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Lead Independent Director Matthew Stecker is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Ankündigung • Jun 13
SeaChange International Receives Written Notice from Nasdaq Regarding Regains Compliance with Minimum Bid Price Requirement On June 7, 2023, SeaChange International, Inc. received written notice (the ‘Notice’) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (‘Nasdaq’) stating that the Company has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) for continued listing on The Nasdaq Capital Market because the Company’s common stock had a closing bid price of at least $1.00 per share for 10 consecutive business days. Accordingly, in the Notice, Nasdaq stated that the matter is now closed. Reported Earnings • Jun 13
First quarter 2024 earnings released: US$0.28 loss per share (vs US$1.22 loss in 1Q 2023) First quarter 2024 results: US$0.28 loss per share (improved from US$1.22 loss in 1Q 2023). Revenue: US$6.99m (up 4.0% from 1Q 2023). Net loss: US$714.0k (loss narrowed 76% from 1Q 2023). Board Change • Jun 07
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Lead Independent Director Matthew Stecker is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • May 22
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Lead Independent Director Matthew Stecker is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Ankündigung • May 09
SeaChange International, Inc., Annual General Meeting, May 19, 2023 SeaChange International, Inc., Annual General Meeting, May 19, 2023, at 10:00 Eastern Standard Time. Agenda: To elect the nominees named in the proxy statement to the Board of Directors to serve for a three-year term as a Class III Director; to approve an amendment to the Company's Amended and Restated Certificate of Incorporation, as amended, to effect a reverse stock split of the outstanding shares of the Company's common stock, par value USD 0.01 per share, at a ratio in the range of 1-for-15 to 1-for-25, with such ratio to be determined at the discretion of the Board; To conduct a non-binding, advisory vote on the compensation of the Company's named executive officers; to ratify the appointment of the Company's independent registered public accounting firm, Marcum LLP, for the fiscal year ending January 31, 2024; and to transact such other business as may properly come before the meeting and any adjournments thereof. Board Change • Apr 20
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Lead Independent Director Matthew Stecker is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Apr 06
Full year 2023 earnings released: US$0.23 loss per share (vs US$0.16 loss in FY 2022) Full year 2023 results: US$0.23 loss per share (further deteriorated from US$0.16 loss in FY 2022). Revenue: US$32.5m (up 19% from FY 2022). Net loss: US$11.4m (loss widened 54% from FY 2022). Board Change • Mar 10
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Lead Independent Director Matthew Stecker is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Feb 08
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Lead Independent Director Matthew Stecker is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Jan 18
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Lead Independent Director Matthew Stecker is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Ankündigung • Jan 05
SeaChange International, Inc. Launches the Xstream™ Platform – A Content Monetization Platform Designed to Maximize Ad Revenue on Connected TVs SeaChange International, Inc. announced the launch of the SeaChange Xstream™ platform, a cloud-based content monetization platform helping OEMs and content owners maximize advertising revenue on Connected TVs (“CTVs”). SeaChange is formally launching the Xstream platform on January 6th and will start onboarding customers as early as in the first quarter of the new fiscal year. With consumer preferences rapidly shifting away from Linear and Pay TV to streaming, and from subscription services to advertising-funded television and content offerings, consumer demand for comprehensive content aggregation and discovery services on CTVs continues to experience explosive growth. Addressing this trend and to enable access to content independent of a cable subscription or set top box, CTVs are fast becoming the main gateway to entertainment for households. To fully harness this demand, SeaChange is launching the Xstream platform, which provides the full set of capabilities to monetize CTV ad inventory for content owners, manufacturers, and operating system providers alike, ranging from streaming enablement via content aggregation to targeted insertion of advertisement from multiple demand sources. Reported Earnings • Dec 14
Third quarter 2023 earnings released: US$0.073 loss per share (vs US$0.043 loss in 3Q 2022) Third quarter 2023 results: US$0.073 loss per share (further deteriorated from US$0.043 loss in 3Q 2022). Revenue: US$8.29m (up 16% from 3Q 2022). Net loss: US$3.68m (loss widened 75% from 3Q 2022). Revenue is forecast to grow 8.5% p.a. on average during the next 2 years, compared to a 9.1% growth forecast for the Software industry in the United Kingdom. Board Change • Dec 01
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Lead Independent Director Matthew Stecker is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Oct 13
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Lead Independent Director Matthew Stecker is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Sep 14
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Lead Independent Director Matthew Stecker is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Jun 10
First quarter 2023 earnings released: US$0.061 loss per share (vs US$0.098 loss in 1Q 2022) First quarter 2023 results: US$0.061 loss per share (up from US$0.098 loss in 1Q 2022). Revenue: US$6.72m (up 33% from 1Q 2022). Net loss: US$3.00m (loss narrowed 26% from 1Q 2022). Board Change • Apr 27
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 1 experienced director. No highly experienced directors. Chairman of the Board Bob Pons is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Apr 09
Full year 2022 earnings released: US$0.16 loss per share (vs US$0.58 loss in FY 2021) Full year 2022 results: US$0.16 loss per share (up from US$0.58 loss in FY 2021). Revenue: US$27.3m (up 24% from FY 2021). Net loss: US$7.43m (loss narrowed 66% from FY 2021). Over the next year, revenue is forecast to grow 16%, compared to a 29% growth forecast for the industry in the United Kingdom. Reported Earnings • Dec 15
Third quarter 2022 earnings: EPS in line with analyst expectations despite revenue beat Third quarter 2022 results: US$0.043 loss per share (up from US$0.14 loss in 3Q 2021). Revenue: US$7.15m (up 44% from 3Q 2021). Net loss: US$2.11m (loss narrowed 59% from 3Q 2021). Revenue exceeded analyst estimates by 20%. Over the next year, revenue is forecast to grow 21%, compared to a 28% growth forecast for the industry in the United Kingdom. Reported Earnings • Sep 15
Second quarter 2022 earnings released: EPS US$0.005 (vs US$0.15 loss in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: US$6.54m (up 31% from 2Q 2021). Net income: US$227.0k (up US$5.99m from 2Q 2021). Profit margin: 3.5% (up from net loss in 2Q 2021). The move to profitability was primarily driven by lower expenses. Board Change • Sep 02
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Executive Chairman Bob Pons is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Ankündigung • Jun 28
SeaChange International, Inc.(NasdaqGS:SEAC) dropped from Russell 3000E Value Index SeaChange International, Inc.(NasdaqGS:SEAC) dropped from Russell 3000E Value Index Recent Insider Transactions • Jun 24
Executive Chairman recently bought US$106k worth of stock On the 21st of June, Robert Pons bought around 100k shares on-market at roughly US$1.06 per share. This was the largest purchase by an insider in the last 3 months. Robert has been a buyer over the last 12 months, purchasing a net total of US$210k worth in shares. Reported Earnings • Jun 12
First quarter 2022 earnings released: US$0.098 loss per share (vs US$0.17 loss in 1Q 2021) The company reported a decent first quarter result with reduced losses and improved control over expenses, although revenues were weaker. First quarter 2022 results: Revenue: US$5.05m (down 27% from 1Q 2021). Net loss: US$4.07m (loss narrowed 38% from 1Q 2021). Recent Insider Transactions • Apr 24
Executive Chairman recently bought US$104k worth of stock On the 19th of April, Robert Pons bought around 100k shares on-market at roughly US$1.04 per share. This was the largest purchase by an insider in the last 3 months. This was Robert's only on-market trade for the last 12 months. 