Annuncio • Oct 31
eMagin Corporation Files Form 15 eMagin Corporation has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its common stock under the Securities Exchange Act of 1934, as amended. The par value of the company's common stock was $0.001 per share. Annuncio • Oct 20
eMagin Corporation(NYSEAM:EMAN) dropped from S&P TMI Index eMagin Corporation(NYSEAM:EMAN) dropped from S&P TMI Index New Risk • Sep 12
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$9.4m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-US$9.4m free cash flow). Minor Risks Currently unprofitable and not forecast to become profitable next year (US$14m net loss next year). Shareholders have been diluted in the past year (8.5% increase in shares outstanding). Reported Earnings • Aug 11
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: US$0.14 loss per share (further deteriorated from US$0.019 loss in 2Q 2022). Revenue: US$4.96m (down 31% from 2Q 2022). Net loss: US$11.2m (loss widened US$9.73m from 2Q 2022). Revenue missed analyst estimates by 29%. Earnings per share (EPS) also missed analyst estimates. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Semiconductor industry in the US. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Annuncio • Aug 04
eMagin Corporation to Report Q2, 2023 Results on Aug 10, 2023 eMagin Corporation announced that they will report Q2, 2023 results on Aug 10, 2023 Annuncio • May 18
Samsung Display Co., Ltd. entered into a definitive agreement to acquire eMagin Corporation (NYSEAM:EMAN) for approximately $180 million. Samsung Display Co., Ltd. entered into a definitive agreement to acquire eMagin Corporation (NYSEAM:EMAN) for approximately $180 million on May 17, 2023. Under the terms of the agreement, all outstanding shares of eMagin common stock on a fully diluted basis will be acquired for $2.08 per share in cash. Following the closing of the transaction, eMagin will continue to maintain its operations and facilities in Hopewell Junction, NY. In case of termination of the transaction under certain circumstances, eMagin would be required to pay Samsung Display a termination fee of $9 million.
The transaction is subject to the approval by eMagin’s stockholders, the expiration or termination of any applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, receipt of any other required governmental approvals or waivers thereof, including clearance from the Committee on Foreign Investment in the United States, and other customary closing conditions. Boards of Directors of eMagin and Samsung Display have unanimously approved the transaction. The transaction is expected to close in the second half of 2023. Nomura Securities International, Inc. is serving as exclusive financial advisor and fairness opinion provider to eMagin. Ross Sturman of White & Case LLP and Goodwin Procter LLP are acting as eMagin’s legal counsel. Evercore Inc. is serving as exclusive financial advisor to Samsung Display and Daniel Kim, Brad Finkelstein and Noah Kornblith of O'Melveny & Myers LLP are acting as legal counsels. Reported Earnings • May 12
First quarter 2023 earnings: EPS and revenues miss analyst expectations First quarter 2023 results: US$0.032 loss per share (further deteriorated from US$0.002 loss in 1Q 2022). Revenue: US$6.60m (down 10% from 1Q 2022). Net loss: US$2.62m (loss widened US$2.48m from 1Q 2022). Revenue missed analyst estimates by 13%. Earnings per share (EPS) also missed analyst estimates by 100%. Revenue is forecast to grow 8.5% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Semiconductor industry in the US. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 36% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 11
Full year 2022 earnings released: US$0.015 loss per share (vs US$0.072 loss in FY 2021) Full year 2022 results: US$0.015 loss per share (improved from US$0.072 loss in FY 2021). Revenue: US$30.5m (up 17% from FY 2021). Net loss: US$1.10m (loss narrowed 79% from FY 2021). Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has increased by 72% per year, which means it is tracking significantly ahead of earnings growth. Annuncio • Jan 13
eMagin Corporation Provides Revenue Guidance for the Fourth Quarter of 2022 eMagin Corporation provided revenue guidance for the fourth quarter of 2022. For the quarter, the company expects product revenue to be in the range of $7.6 million to $7.8 million, representing a 9% to 11% increase from the fourth quarter of 2021, and a 9% to 11% sequential increase from the third quarter of 2022. Contract revenue to be approximately $0.5 million, compared with $0.2 million in the fourth quarter of 2021. Total revenue to be in the range of $8.1 million to $8.3 million, compared with total revenue of $7.2 million for the fourth quarter of 2021. Board Change • Nov 16
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. 1 experienced director. 5 highly experienced directors. Independent Director Eric Braddom was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 11
Third quarter 2022 earnings released: US$0.004 loss per share (vs US$0.011 profit in 3Q 2021) Third quarter 2022 results: US$0.004 loss per share (down from US$0.011 profit in 3Q 2021). Revenue: US$7.62m (up 32% from 3Q 2021). Net loss: US$334.0k (down 143% from profit in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 34% per year whereas the company’s share price has increased by 39% per year. Reported Earnings • Aug 12
Second quarter 2022 earnings released: US$0.019 loss per share (vs US$0.004 loss in 2Q 2021) Second quarter 2022 results: US$0.019 loss per share (down from US$0.004 loss in 2Q 2021). Revenue: US$7.16m (up 14% from 2Q 2021). Net loss: US$1.44m (loss widened 418% from 2Q 2021). Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 49% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 13
First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2022 results: US$0.002 loss per share (up from US$0.10 loss in 1Q 2021). Revenue: US$7.36m (up 8.6% from 1Q 2021). Net loss: US$137.0k (loss narrowed 98% from 1Q 2021). Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) exceeded analyst estimates by 42%. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 10% per year. Price Target Changed • Apr 27
Price target increased to US$5.00 Up from US$2.00, the current price target is provided by 1 analyst. New target price is 435% above last closing price of US$0.94. Stock is down 68% over the past year. The company is forecast to post a net loss per share of US$0.14 next year compared to a net loss per share of US$0.072 last year. Board Change • Apr 27
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. 2 experienced directors. 4 highly experienced directors. Independent Director Eric Braddom was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 11
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: US$0.072 loss per share (up from US$0.19 loss in FY 2020). Revenue: US$26.0m (down 12% from FY 2020). Net loss: US$5.21m (loss narrowed 55% from FY 2020). Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) also missed analyst estimates by 42%. Over the next year, revenue is forecast to grow 5.6%, compared to a 21% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 9% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 13
Third quarter 2021 earnings released: EPS US$0.018 (vs US$0.061 loss in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: US$5.78m (down 21% from 3Q 2020). Net income: US$1.31m (up US$4.84m from 3Q 2020). Profit margin: 23% (up from net loss in 3Q 2020). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 26% per year, which means it is well ahead of earnings. Board Change • Nov 02
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. 2 experienced directors. 4 highly experienced directors. Independent Director Eric Braddom was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Aug 19
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast fell from US$31.2m to US$28.3m. 2021 losses expected to reduce from -US$0.17 to -US$0.15 per share. Semiconductor industry in the US expected to see average net income growth of 41% next year. Consensus price target of US$5.00 unchanged from last update. Share price fell 12% to US$2.34 over the past week. Reported Earnings • Aug 14
Second quarter 2021 earnings released: US$0.004 loss per share (vs US$0.05 loss in 2Q 2020) The company reported a decent second quarter result with reduced losses and improved control over expenses, although revenues were weaker. Second quarter 2021 results: Revenue: US$6.28m (down 19% from 2Q 2020). Net loss: US$278.0k (loss narrowed 90% from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions Derivative • Jul 08
Independent Director exercised options and sold US$52k worth of stock On the 1st of July, Stephen Seay exercised 25.97k options at around US$2.14, then sold 2k of the shares acquired at an average of US$34.80 per share and kept the remainder. Since March 2021, Stephen has owned 38.52k shares directly. Company insiders have collectively sold US$706k more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • Jun 12
Independent Director exercised options to buy US$89k worth of stock. On the 10th of June, Ellen Richstone exercised options to buy 26k shares at a strike price of around US$2.14, costing a total of US$56k. This transaction amounted to 140% of their direct individual holding at the time of the trade. Since March 2021, Ellen has owned 18.52k shares directly. Company insiders have collectively sold US$527k more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • Jun 07
Independent Chairman of the Board exercised options to buy US$82k worth of stock. On the 1st of June, Jill Wittels exercised 51.29k options at around US$2.14, then sold 26.97k of them at US$4.07 each and kept the remainder. Since March 2021, Jill's direct individual holding has increased from 18.52k shares to 42.84k. Company insiders have collectively sold US$582k more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • Jun 02
Independent Chairman of the Board exercised options to buy US$88k worth of stock. On the 1st of June, Jill Wittels exercised 51.29k options at around US$2.14, then sold 26.97k of them at US$4.07 each and kept the remainder. Since March 2021, Jill has owned 18.52k shares directly. Company insiders have collectively sold US$557k more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • May 15
First quarter 2021 earnings released: US$0.10 loss per share (vs US$0.027 loss in 1Q 2020) The company reported a poor first quarter result with increased losses and weaker control over costs, although revenues were flat. First quarter 2021 results: Revenue: US$6.77m (flat on 1Q 2020). Net loss: US$7.38m (loss widened 439% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 13% per year. Price Target Changed • Apr 01
Price target increased to US$5.00 Up from US$2.00, the current price target is provided by 1 analyst. New target price is 34% above last closing price of US$3.74. Stock is up 1,639% over the past year. Recent Insider Transactions Derivative • Mar 25
Insider exercised options and sold US$69k worth of stock On the 22nd of March, Olivier Prache exercised 50k options at a strike price of around US$2.66 and sold these shares for an average price of US$4.03 per share. This trade did not impact their existing holding. Since December 2020, Olivier has owned 28.70k shares directly. Company insiders have collectively sold US$130k more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Mar 20
Full year 2020 earnings released: US$0.19 loss per share (vs US$0.089 loss in FY 2019) The company reported a soft full year result with increased losses and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: US$29.4m (up 10% from FY 2019). Net loss: US$11.4m (loss widened 166% from FY 2019). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Mar 03
New 90-day high: US$4.84 The company is up 300% from its price of US$1.21 on 02 December 2020. The American market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 11% over the same period. Recent Insider Transactions • Feb 12
Insider recently sold US$1.4m worth of stock On the 9th of February, Mortimer Sackler sold around 401k shares on-market at roughly US$3.38 per share. In the last 3 months, they made an even bigger sale worth US$3.3m. Insiders have been net sellers, collectively disposing of US$4.7m more than they bought in the last 12 months. Is New 90 Day High Low • Feb 05
New 90-day high: US$2.90 The company is up 133% from its price of US$1.25 on 06 November 2020. The American market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 15% over the same period. Recent Insider Transactions • Jan 30
Insider recently sold US$3.3m worth of stock On the 26th of January, Mortimer Sackler sold around 1m shares on-market at roughly US$2.88 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$3.3m more than they bought in the last 12 months. Is New 90 Day High Low • Jan 09
New 90-day high: US$2.19 The company is up 84% from its price of US$1.19 on 09 October 2020. The American market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 17% over the same period. Is New 90 Day High Low • Dec 23
New 90-day high: US$1.70 The company is up 48% from its price of US$1.15 on 23 September 2020. The American market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 25% over the same period. Reported Earnings • Nov 17
Third quarter 2020 earnings released: US$0.061 loss per share The company reported a poor third quarter result with increased losses and weaker revenues and control over expenses. Third quarter 2020 results: Revenue: US$7.31m (down 7.7% from 3Q 2019). Net loss: US$3.53m (loss widened US$3.22m from 3Q 2019). Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Nov 17
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 7.5%. Earnings per share (EPS) exceeded analyst estimates by 200%. Over the next year, revenue is forecast to grow 7.9%, compared to a 16% growth forecast for the Semiconductor industry in the US. Reported Earnings • Nov 14
Third quarter 2020 earnings released: US$0.061 loss per share The company reported a poor third quarter result with increased losses and weaker revenues and control over expenses. Third quarter 2020 results: Revenue: US$7.31m (down 7.7% from 3Q 2019). Net loss: US$3.53m (loss widened US$3.22m from 3Q 2019). Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Nov 14
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 7.5%. Earnings per share (EPS) exceeded analyst estimates by 200%. Over the next year, revenue is forecast to grow 8.1%, compared to a 16% growth forecast for the Semiconductor industry in the US. Is New 90 Day High Low • Nov 13
New 90-day low: US$1.13 The company is down 36% from its price of US$1.76 on 14 August 2020. The American market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 13% over the same period.