New Risk • Jun 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 8.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (55% accrual ratio). Revenue is less than US$1m. Minor Risk Share price has been volatile over the past 3 months (8.4% average weekly change). Board Change • May 20
No independent directors There are 3 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Board Chair Silje Augustson is the most experienced director on the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Aankondiging • Jun 12
Otello Corporation ASA Approves Board and Committee Changes Otello Corporation ASA elected Jamie Sherman as chair of the Nomination Committee with a service period which expires simultaneously with the service period for the other Committee members. Consequently, the Nomination Committee consists of Jamie Sherman as chair and Simon Davies, Kari Stautland and Jakob Iqbal as members. Song Lin is elected as Board member with a service period which expires simultaneously with the service period for the other Board members. Consequently, the board consists of Frank Blaker, Silje Augustson and Song Lin. Aankondiging • Jan 02
Otello Corporation ASA, Annual General Meeting, Jun 03, 2025 Otello Corporation ASA, Annual General Meeting, Jun 03, 2025. Aankondiging • Jan 02
Otello Announces CEO Changes Otello CEO, Lars Boilesen has in an agreement with the Board of Directors decided to transition into an advisor role in Otello effective 31 December 2023. Lars has served Opera and Otello for over 20 years, first as head of sales, later as a Board member and ultimately as CEO from 2010. Jason Hoida, Otello´s General Counsel, will take over as CEO upon Lars´ transition. Jason has been an integral part of Otello´s leadership since 2009 and has worked closely with Lars on all aspects of the business including all major transactions. Aankondiging • Nov 29
Otello Corporation ASA Announces Resignation of Petter Lade as CFO Otello Corporation ASA announced that Petter Lade is stepping down as CFO. Petter Lade, who has been with the company since 2006 and been CFO since 2017, has given notice to take up a CFO position outside the company. He will continue in his current role until the end of December. New Risk • Aug 20
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 32% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (32% accrual ratio). Revenue is less than US$1m (US$100k revenue). Minor Risks Share price has been volatile over the past 3 months (7.4% average weekly change). Market cap is less than US$100m (€65.7m market cap, or US$71.5m). Reported Earnings • Aug 20
First half 2023 earnings released: EPS: US$0.18 (vs US$0.049 in 1H 2022) First half 2023 results: EPS: US$0.18 (up from US$0.049 in 1H 2022). Net income: US$16.2m (up 245% from 1H 2022). Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Aankondiging • Aug 19
Otello Corporation ASA Announces Dividend Otello Corporation ASA announced a dividend of NOK 21 per share, paying out over 90% of total cash position. New Risk • Jun 21
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m (US$200k revenue). Minor Risks Share price has been volatile over the past 3 months (7.6% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (€66.9m market cap, or US$73.0m). Aankondiging • Jan 18
Otello Corporation ASA Announces Resignation of Maria Borge Andreassen as Board Member, Effective 1 May 2023 The Board of Otello Corporation ASA has received a notice of resignation from board member Maria Borge Andreassen. The reason for the resignation is that Borge Andreassen will take up a new position which, according to the rules of the new employer, is not compatible with continuing as director of Otello. She will resign effectively from 1 May 2023 and a replacement candidate will be presented by the Nomination Committee to the annual general meeting. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Director Karin Floistad was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Aug 02
Upcoming dividend of kr21.00 per share Eligible shareholders must have bought the stock before 09 August 2022. Payment date: 18 August 2022. Trailing yield: 73%. Within top quartile of German dividend payers (4.6%). Higher than average of industry peers (2.0%). Aankondiging • Jul 29
Otello Corporation ASA Approves Cash Dividend, Payable on 18 August 2022 The Board of Otello Corporation ASA has resolved to pay a dividend payment of NOK 21 per share, NOK 1,913,094,309 in total. The dividend is resolved pursuant to the Authorization granted by the Annual General Meeting held on 2 June 2022. Payment date: 18 August 2022. Ex-date: 9 August 2022. Record date: 10 August 2022. Date of approval: 28 July 2022. Last day including right: 8 August 2022. Recent Insider Transactions • Jun 11
Director recently bought €397k worth of stock On the 8th of June, Magdalena Kadziolka bought around 150k shares on-market at roughly €2.64 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €1.1m more in shares than they have sold in the last 12 months. Aankondiging • Jun 04
Otello Corporation ASA Approves Executive Changes Otello Corporation ASA at Annual General Meeting approved the Andre Christensen is elected as director, Karin Fløistad is elected as director, Song Lin is elected as director and Magdalena Maria Kadziolka (Giambalvo) is elected as director. Election of members to the nomination committee includes: Simon Davies is elected as chairperson, Jakob Iqbal is elected as member and Kari Stautland is elected as member. Breakeven Date Change • May 10
Forecast to breakeven in 2022 The analyst covering Otello expects the company to break even for the first time. New forecast suggests the company will make a profit of US$27.6m in 2022. Earnings growth of 115% is required to achieve expected profit on schedule. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Director Song Lin was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Jan 26
Director recently bought €200k worth of stock On the 21st of January, Anooj Unarket bought around 76k shares on-market at roughly €2.62 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €709k more in shares than they have sold in the last 12 months. Recent Insider Transactions • Jan 12
Director recently bought €132k worth of stock On the 10th of January, Anooj Unarket bought around 50k shares on-market at roughly €2.64 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €509k more in shares than they have sold in the last 12 months. Breakeven Date Change • Dec 31
Forecast breakeven date pushed back to 2022 The analyst covering Otello previously expected the company to break even in 2021. New forecast suggests the company will make a profit of US$27.7m in 2022. Average annual earnings growth of 147% is required to achieve expected profit on schedule. Recent Insider Transactions • Sep 24
Director recently bought €309k worth of stock On the 17th of September, Anooj Unarket bought around 100k shares on-market at roughly €3.09 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €370k more in shares than they have sold in the last 12 months. Breakeven Date Change • Sep 23
Forecast to breakeven in 2021 The analyst covering Otello expects the company to break even for the first time. New forecast suggests the company will make a profit of US$14.9m in 2021. Earnings growth of 147% is required to achieve expected profit on schedule. Aankondiging • Aug 05
Otello Corporation ASA (OB:OTEC) commences an Equity Buyback Plan for 13,847,700 shares, representing 10% of its issued share capital, under the authorization approved on June 2, 2021. Otello Corporation ASA (OB:OTEC) commences share repurchases on August 4, 2021, under the program mandated by the shareholders in the Annual General Meeting held on June 2, 2021. As per the mandate, the company is authorized to repurchase up to 13,847,700 shares, representing 10% of its issued share capital. The shares will be repurchased at a minimum price of NOK 5 and at a maximum price of NOK 200 per share. The repurchased shares may only be used to fulfill the obligations under incentive schemes, as part of consideration for acquisitions made by the company, as part of the consideration for mergers, demergers or acquisitions involving the company, to raise funds for specific investments, for the purpose of paying down loans or in order to strengthen the company’s capital base. The authority is valid from the date of registration with the Norwegian Register of Business Enterprises to June 30, 2022. As of May 11, 2021, the company had 138,477,429 issued shares and 13,727,702 shares in treasury. Aankondiging • Apr 29
Digital Turbine Media, Inc. completed the acquisition of AdColony Inc. from Otello Corporation ASA (OB:OTEC). Digital Turbine Media, Inc. entered into a definitive agreement to acquire AdColony Inc. from Otello Corporation ASA (OB:OTEC) for approximately $380 million on February 26, 2021. Total consideration for the acquisition is $350 million to $375 million, including a normalized amount of working capital and $19 million in cash. Some or all of the cash will be returned to Otello subject to the achievement of certain future net revenue targets: (1) $100 million in cash to be paid at closing (2) $100 million in cash to be paid six months following the closing, and (3) an estimated earn-out of $150 million to $175 million, to be paid fully in cash, based on AdColony achieving certain future target net revenue objectives in 2021. The earn-out portion is not capped and is subject to change based on actual results. If the acquisition does not close, under certain specified circumstances, Otello would be obligated to pay Digital Turbine a termination fee of up to $8.0 million. The Company intends to pay the purchase price with a combination of available cash on hand and borrowings under its existing senior credit facility, along with future capital financing. The transaction is supported by the Board of Directors of Otello as well as the management of Otello and AdColony. The Board will submit the transaction to the Otello shareholders for approval at an extraordinary general meeting expected to take place on or about 25 March 2021. Approval will require a majority in favor among votes and shares represented at the EGM. The completion of the transaction is subject to customary closing conditions. As of March 5, 2021, the transaction was approved by the shareholders. The transaction is expected to close by end of March 2021. LUMA Securities LLC acted as financial advisor and Hogan Lovells LLP acted as legal advisor to Otello. Michael F. Meskill of Jackson Walker LLP acted as legal advisor to Digital Turbine, Inc. Houlihan Lokey, Inc. (NYSE:HLI) acted as financial advisor to Digital Tribune in the transaction.
Digital Turbine Media, Inc. completed the acquisition of AdColony Inc. from Otello Corporation ASA (OB:OTEC) in 2021. Reported Earnings • Apr 28
Full year 2020 earnings released: US$0.17 loss per share (vs US$0.17 loss in FY 2019) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2020 results: Revenue: US$259.0m (up 7.6% from FY 2019). Net loss: US$23.3m (loss narrowed 1.7% from FY 2019). Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Aankondiging • Apr 13
Otello Corporation ASA (OB:OTEC) commences an Equity Buyback Plan for 13,847,700 shares, representing 10% of its issued share capital, under the authorization approved on June 2, 2020. Otello Corporation ASA (OB:OTEC) commences share repurchases on April 8, 2021, under the program mandated by the shareholders in the Annual General Meeting held on June 2, 2020. As per the mandate, the company is authorized to repurchase up to 13,847,700 shares, representing 10% of its issued share capital. The shares will be repurchased at a minimum price of NOK 5 and at a maximum price of NOK 200 per share. The repurchased shares may only be used to fulfill the obligations under incentive schemes, as part of consideration for acquisitions made by the company, as part of the consideration for mergers, demergers or acquisitions involving the company, to raise funds for specific investments, for the purpose of paying down loans or in order to strengthen the company’s capital base. The authority is valid from the date of registration with the Norwegian Register of Business Enterprises to June 30, 2021. As of May 12, 2020, the company had 138,477,429 issued shares and 920,000 shares in treasury.
On April 7, 2021, the company announced a share repurchase program. Is New 90 Day High Low • Mar 02
New 90-day high: €3.06 The company is up 45% from its price of €2.11 on 01 December 2020. The German market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Media industry, which is up 18% over the same period. Is New 90 Day High Low • Feb 09
New 90-day high: €2.89 The company is up 49% from its price of €1.94 on 10 November 2020. The German market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Media industry, which is up 23% over the same period. Aankondiging • Jan 22
Otello Corporation ASA Provides Litigation Update Otello Corporation ASA announced that further to announcement of January 14, 2021, following agreement between MFC and Otello to postpone the hearing listed for January 21, 2021 until on or after 22 February 2021 to allow further time for MFC to seek refinancing to raise funds to enable it to pay in full the sums due to Otello, the English High Court has ordered that the appointment of a receiver should be postponed until after 19 February 2021. The hearing listed for 21 January 2021 is therefore adjourned until on or after 22 February 2021. Is New 90 Day High Low • Jan 09
New 90-day high: €2.70 The company is up 79% from its price of €1.51 on 09 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Media industry, which is up 15% over the same period. Recent Insider Transactions • Dec 29
Chairman recently bought €28k worth of stock On the 22nd of December, André Christensen bought around 26k shares on-market at roughly €1.07 per share. This was the largest purchase by an insider in the last 3 months. This was André's only on-market trade for the last 12 months. Recent Insider Transactions • Dec 26
Chairman recently bought €28k worth of stock On the 22nd of December, André Christensen bought around 26k shares on-market at roughly €1.07 per share. This was the largest purchase by an insider in the last 3 months. This was André's only on-market trade for the last 12 months. Recent Insider Transactions • Dec 25
Chairman recently bought €28k worth of stock On the 22nd of December, André Christensen bought around 26k shares on-market at roughly €1.07 per share. This was the largest purchase by an insider in the last 3 months. This was André's only on-market trade for the last 12 months. Is New 90 Day High Low • Dec 23
New 90-day high: €2.42 The company is up 63% from its price of €1.49 on 24 September 2020. The German market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Media industry, which is up 29% over the same period. Aankondiging • Dec 23
Otello Corporation ASA to Report Q4, 2020 Results on Feb 19, 2021 Otello Corporation ASA announced that they will report Q4, 2020 results on Feb 19, 2021 Is New 90 Day High Low • Nov 11
New 90-day high: €1.94 The company is up 41% from its price of €1.38 on 12 August 2020. The German market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Media industry, which is up 15% over the same period. Analyst Estimate Surprise Post Earnings • Oct 30
Third-quarter earnings released: Revenue beats expectations Third-quarter revenue exceeded analyst estimates by 1.7% at US$62.3m. Revenue is forecast to grow 13% over the next year, while the growth in Media industry in Germany is expected to stay flat. Reported Earnings • Oct 30
Third quarter earnings released Over the last 12 months the company has reported total losses of US$19.8m, with losses narrowing by 79% from the prior year. Total revenue was US$242.9m over the last 12 months, up 2.2% from the prior year. Is New 90 Day High Low • Oct 23
New 90-day high: €1.70 The company is up 42% from its price of €1.20 on 24 July 2020. The German market is down 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Media industry, which is up 7.0% over the same period. Aankondiging • Sep 20
Otello Corporation ASA to Report Q2, 2020 Results on Aug 20, 2020 Otello Corporation ASA announced that they will report Q2, 2020 results on Aug 20, 2020 
