Valuation Update With 7 Day Price Move • May 21
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CA$5.54, the stock trades at a trailing P/E ratio of 4.2x. Average trailing P/E is 41x in the Software industry in Canada. Total returns to shareholders of 236% over the past year. Reported Earnings • May 16
First quarter 2024 earnings released: EPS: CA$0.042 (vs CA$0.55 in 1Q 2023) First quarter 2024 results: EPS: CA$0.042 (down from CA$0.55 in 1Q 2023). Net income: CA$1.38m (down 93% from 1Q 2023). Valuation Update With 7 Day Price Move • May 03
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to CA$4.83, the stock trades at a trailing P/E ratio of 2.6x. Average trailing P/E is 48x in the Software industry in Canada. Total returns to shareholders of 167% over the past year. Reported Earnings • Mar 20
Full year 2023 earnings released: EPS: CA$1.83 (vs CA$1.73 loss in FY 2022) Full year 2023 results: EPS: CA$1.83 (up from CA$1.73 loss in FY 2022). Net income: CA$62.0m (up CA$120.4m from FY 2022). Valuation Update With 7 Day Price Move • Feb 28
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CA$3.93, the stock trades at a trailing P/E ratio of 2.2x. Average trailing P/E is 26x in the Software industry in Canada. Total returns to shareholders of 108% over the past year. 공고 • Dec 12
Ether Capital Corporation Announces CEO Changes, Effective January 1, 2024 Ether Capital Corporation announced a transition in its executive leadership. Brian Mosoff, who has served as the CEO for over five years, will be stepping down from his role, effective January 1, 2024, and Som Seif, Executive Chairman of the Board and founder of Ether Capital, will assume the role of Interim CEO. Brian will continue to contribute to the Company's strategic direction as a member of the board of directors. Som Seif co-founded Ether Capital in 2018 with the aim of making it a leading access point in the capital markets for Ethereum and its wider ecosystem. With Som at the helm as Interim CEO, Ether Capital plans to initiate a strategic review to determine the best path forward for the Company’s development. Som's extensive experience and leadership have been a cornerstone of the Company's development and success. Under his leadership, Ether Capital will continue to focus on maximizing operational efficiency and yield generation as it undertakes its strategic review. Jillian Friedman will continue as Chief Operating Officer and interim Chief Financial Officer. Reported Earnings • Aug 13
Second quarter 2023 earnings released: EPS: CA$1.24 (vs CA$1.74 loss in 2Q 2022) Second quarter 2023 results: EPS: CA$1.24 (up from CA$1.74 loss in 2Q 2022). Net income: CA$42.2m (up CA$100.7m from 2Q 2022). Revenue is forecast to grow 50% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Software industry in Canada. New Risk • Jun 08
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: -CA$1.9m 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 Risks Less than 1 year of cash runway based on free cash flow trend (-CA$1.9m free cash flow). Earnings have declined by 28% per year over the past 5 years. Revenue is less than US$1m (CA$1.3m revenue, or US$952k). Minor Risk Market cap is less than US$100m (CA$56.6m market cap, or US$42.3m). Price Target Changed • Apr 26
Price target increased by 27% to CA$3.55 Up from CA$2.80, the current price target is provided by 1 analyst. New target price is 97% above last closing price of CA$1.80. Stock is down 44% over the past year. The company posted a net loss per share of CA$1.73 last year. 공고 • Feb 18
Ether Capital Corporation Announces Resignation of Shayan Eskandari as Chief Technical Officer, Effective March 7, 2023 Ether Capital Corporation announced that Shayan Eskandari will be stepping down from the role of Chief Technical Officer as of March 7, 2023. Mr. Eskandari joined Ether Capital in fall 2021 to assist with developing technical infrastructure that allowed the Company to build out its operating businesses. Since that time, Ether Capital has expanded technical resources, become one of the first public companies in the world to stake Ether and will continue developing in-house products to further bolster the Ethereum ecosystem. Mr. Eskandari is planning to return to academia and focus on his PhD. Price Target Changed • Nov 16
Price target decreased to CA$3.20 Down from CA$3.70, the current price target is provided by 1 analyst. New target price is 96% above last closing price of CA$1.63. Stock is down 67% over the past year. The company posted a net loss per share of CA$0.099 last year. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: CA$0.42 (vs CA$0.001 loss in 3Q 2021) Third quarter 2022 results: EPS: CA$0.42 (up from CA$0.001 loss in 3Q 2021). Net income: CA$14.0m (up CA$14.0m from 3Q 2021). Revenue is forecast to grow 2.5% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Software industry in Canada. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 141 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 12
Third quarter 2022 earnings released: EPS: CA$0.42 (vs CA$0.001 loss in 3Q 2021) Third quarter 2022 results: EPS: CA$0.42 (up from CA$0.001 loss in 3Q 2021). Net income: CA$14.0m (up CA$14.0m from 3Q 2021). Revenue is forecast to grow 2.5% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Software industry in Canada. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 139 percentage points per year, which is a significant difference in performance. Price Target Changed • Sep 12
Price target decreased to CA$3.70 Down from CA$4.03, the current price target is provided by 1 analyst. New target price is 55% above last closing price of CA$2.39. Stock is down 41% over the past year. The company posted a net loss per share of CA$0.099 last year. Reported Earnings • Aug 14
Second quarter 2022 earnings released: CA$1.74 loss per share (vs CA$0.004 loss in 2Q 2021) Second quarter 2022 results: CA$1.74 loss per share (down from CA$0.004 loss in 2Q 2021). Net loss: CA$58.5m (loss widened CA$58.3m from 2Q 2021). Over the next year, revenue is forecast to grow 30%, compared to a 22% growth forecast for the industry in Canada. 공고 • Apr 14
Ether Capital Corporation, Annual General Meeting, Jun 21, 2022 Ether Capital Corporation, Annual General Meeting, Jun 21, 2022. 공고 • Apr 08
Bolt Financial, Inc. entered into an agreement to acquire Wyre, Inc from Ether Capital Corporation (OTCPK:DTSR.F) and others. Bolt Financial, Inc. entered into an agreement to acquire Wyre, Inc from Ether Capital Corporation (OTCPK:DTSR.F) and others on April 7, 2022. The transaction will be a combination of cash and common shares of Bolt paid over four years. The transaction is subject to multiple regulatory approvals and customary closing conditions and is expected to close before the end of 2022. Reported Earnings • Mar 30
Full year 2021 earnings released: CA$0.099 loss per share (vs CA$0.97 profit in FY 2020) Full year 2021 results: CA$0.099 loss per share (down from CA$0.97 profit in FY 2020). Net loss: CA$3.18m (down 114% from profit in FY 2020). Over the next year, revenue is forecast to grow 359%, compared to a 27% growth forecast for the industry in Canada. Valuation Update With 7 Day Price Move • Jan 22
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CA$3.44, the stock trades at a trailing P/E ratio of 8.8x. Average forward P/E is 65x in the Software industry in Canada. Board Change • Jan 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. 12 experienced directors. No highly experienced directors. Member of Advisory Board Michael Dunworth was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Valuation Update With 7 Day Price Move • Nov 03
Investor sentiment improved over the past week After last week's 16% share price gain to CA$4.98, the stock trades at a trailing P/E ratio of 8.9x. Average forward P/E is 98x in the Software industry in Canada. Recent Insider Transactions • Aug 30
Independent Director recently sold CA$400k worth of stock On the 23rd of August, Camillo di Prata sold around 100k shares on-market at roughly CA$4.00 per share. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months.