Aankondiging • Jun 18
Arcline Investment Management LP entered into a definitive agreement to acquire AstroNova, Inc. (NasdaqGM:ALOT) for approximately $240 million. Arcline Investment Management LP entered into a definitive agreement to acquire AstroNova, Inc. (NasdaqGM:ALOT) for approximately $240 million on June 16, 2026. Under the terms of the acquisition, Arcline Investment Management LP will pay $29 in cash per share, representing a total enterprise value of approximately $272 million. Upon completion of the transaction, AstroNova, Inc. will become a privately held company. In case of termination of transaction, Arcline Investment Management LP will pay a termination fee of $9.65 million and AstroNova, Inc will pay a termination fee of $9.65 million.
The transaction is subject to customary closing conditions including receipt of regulatory approvals, expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and approval by the shareholders of AstroNova, Inc. The deal has been unanimously approved by the board of directors of AstroNova, Inc and Arcline Investment Management LP. The transaction is expected to close in the third quarter of 2026.
Rockefeller Capital Management L.P. acted as exclusive financial advisor and fairness opinion provider to AstroNova, Inc. William R. Kolb and Dan Clevenger of Foley Hoag LLP acted as legal advisor to AstroNova, Inc. Alliance Advisors is serving as strategic communications advisor to AstroNova, Inc. Mesirow Financial Holdings, Inc. acted as exclusive financial advisor to Arcline Investment Management LP. Ryan D. Thomas and S. Ryan Hoffman of Bass, Berry & Sims PLC acted as legal advisor to Arcline Investment Management LP. New Risk • Jun 17
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 21% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.8x net interest cover). Share price has been highly volatile over the past 3 months (21% average weekly change). Earnings have declined by 56% per year over the past 5 years. Reported Earnings • Jun 09
First quarter 2027 earnings released: EPS: US$0.085 (vs US$0.05 loss in 1Q 2026) First quarter 2027 results: EPS: US$0.085 (up from US$0.05 loss in 1Q 2026). Revenue: US$39.4m (up 4.4% from 1Q 2026). Net income: US$653.0k (up US$1.03m from 1Q 2026). Profit margin: 1.7% (up from net loss in 1Q 2026). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. Aankondiging • May 26
AstroNova, Inc. to Report Q1, 2027 Results on Jun 08, 2026 AstroNova, Inc. announced that they will report Q1, 2027 results Pre-Market on Jun 08, 2026 Aankondiging • May 14
AstroNova, Inc., Annual General Meeting, Jul 20, 2026 AstroNova, Inc., Annual General Meeting, Jul 20, 2026. Aankondiging • Apr 14
AstroNova, Inc. Provides Earnings Guidance for the Fiscal Year 2027 AstroNova, Inc. provided earnings guidance for the fiscal year 2027. For the period, the company expects mid-single digit revenue growth. Aankondiging • Apr 02
AstroNova, Inc. Announces Management Appointments in Product Identification Segment AstroNova, Inc. announced the appointments of Greg Treanor as Global Sales Director and John Kliem as Global Operations Director for its Product Identification segment. Greg Treanor has more than 15 years of international commercial leadership experience in the printing and product identification industry, including roles as International Sales Director at SpotSee, a Harbour Group company, General Manager USA at Linx Printing Technologies, part of Danaher, and senior commercial roles at Domino Printing Sciences, part of Brother Industries. Mr. Treanor holds a BEng (Hons) in Electronics and Computing from the University of Ulster. John Kliem brings nearly 20 years of executive leadership experience in global manufacturing, operations, and supply chain, most recently as Chief Operating Officer of CAS Holdings, a private equity-backed industrial automation platform, where he oversaw operations, engineering, supply chain, and quality across multiple divisions. Previously, Mr. Kliem spent more than 15 years at Carrier Corp. (formerly United Technologies), where he held progressive leadership roles including Director of Operations overseeing 300 employees across four international manufacturing sites. Mr. Kliem holds an M.B.A. in Finance and an M.S. in Energy Systems from Northeastern University and a B.S. in Mechanical Engineering from the University of Massachusetts Amherst. Aankondiging • Mar 26
AstroNova, Inc. to Report Q4, 2026 Results on Apr 13, 2026 AstroNova, Inc. announced that they will report Q4, 2026 results After-Market on Apr 13, 2026 Aankondiging • Dec 01
AstroNova, Inc. to Report Q3, 2026 Results on Dec 10, 2025 AstroNova, Inc. announced that they will report Q3, 2026 results Pre-Market on Dec 10, 2025 Aankondiging • Sep 11
AstroNova, Inc. Revises Earnings Guidance for the Fiscal Year 2026 AstroNova, Inc. revised earnings guidance for the fiscal year 2026. For fiscal 2026, the company has revised its previous revenue guidance from a range of $160 million to $165 million to a revenue range of $149 million to $154 million, which, at the mid-point of the range, is similar to fiscal 2025. Aankondiging • Sep 05
AstroNova, Inc. to Report Q2, 2026 Results on Sep 09, 2025 AstroNova, Inc. announced that they will report Q2, 2026 results Pre-Market on Sep 09, 2025 Aankondiging • Aug 21
Astronova Appoints Shawn Kravetz to Board of Directors AstroNova, Inc. announced that its Board of Directors has appointed Shawn Kravetz to the Board of Directors effective immediately, pursuant to the execution of a Cooperation Agreement between the Company and Askeladden Capital Management LLC. Mr. Kravetz, an independent director, will be a member of the Nominating and Governance Committee. Mr. Kravetz is the Founder, President, and Chief Investment Officer of Esplanade Capital LLC, which he founded in 1999. He currently serves on the board of Spruce Power Holding Corp. He had served on the Board of Directors of Nevada Gold & Casinos Inc. until its sale in September 2019. Prior to Esplanade Capital, Mr. Kravetz was a principal at the Parthenon Group, now EY-Parthenon, and began his career as Director of Strategic Planning and Corporate Development at CML Group. Mr. Kravetz holds a Bachelor of Arts degree in economics from Harvard College and a Masters in Business Administration from Harvard Business School. Aankondiging • Jun 25
Askeladden Capital Management Provides Information to Shareholder of AstroNova On June 24, 2025, Askeladden Capital Management LLC, represented by Samir Patel, criticized AstroNova, Inc. for breaching confidentiality during negotiations and failing to address shareholder concerns. The letter urges shareholders to vote to elect directors committed to maximizing shareholder value. Aankondiging • Jun 12
Askeladden Capital Issue Investor Presentation with Shareholders of AstroNova On June 11, 2025, Askeladden Capital Management LLC announced that it has issued an investor presentation with Shareholders of AstroNova Inc detailing the case for change at the Company, and as the presentation spells out, it believes that the Company is suffering from a comprehensive failure of governance by incumbent directors, which has led to severe and persistent shareholder value. In addition, Askeladden Capital stated that to address the challenges and built a better Company it urges the shareholders of the Company to support its board nominees Jeff Sands, Shawn Kravetz, Ryan Oviatt, Boyd Roberts and Samir Patel for election to the board of directors at the Company annual meeting of shareholders scheduled to be held on July 9, 2025. Aankondiging • Jun 05
AstroNova, Inc. Provides Earnings Guidance for the Fiscal Year 2026 AstroNova, Inc. provided earnings guidance for the fiscal year 2026. For fiscal 2026, the company continues to expect net revenue in the range of $160 million to $165 million, which is a 7% increase over fiscal 2025 at the mid-point of the range. Aankondiging • Jun 03
Askeladden Capital Sends a Letter to AstroNova's Shareholders On June 2, 2025, Askeladden Capital announced that it has sent a letter to shareholders of AstroNova Inc, stating that it is hosting a virtual town hall meeting on June 12, 2025, for AstroNova stakeholders to interact with Company's board nominees. In addition, Askeladden Capital stated that the Company has faced significant challenges, including a substantial drop in Adjusted EBITDA and a failed acquisition of MTEX, leading to layoffs and financial difficulties, and criticizes the current board and CEO for poor governance and management, which they believe has harmed shareholders and employees, Askeladden has a detailed plan to enhance Company's value, leveraging the expertise of their nominees and drawing comparisons to successful transactions in the industry. Further, Askeladden Capital stated that its nominees have specific and relevant expertise to execute its plan to maximize value. Aankondiging • May 23
Askeladden Capital Presents Plan to Maximize Shareholder Value at AstroNova On May 22, 2025, Askeladden Capital Management LLC announced that it has filed its definitive proxy statement for the upcoming AstroNova, Inc.’s annual shareholder meeting scheduled to be held on July 9, 2025. Askeladden Capital stated that its plan to maximize value at the Company, including a clear explanation of the research backing the plan, and how its nominees', Shawn Kravetz, Jeff Sands, Ryan Oviatt, Boyd Roberts, and Samir Patel, specific and relevant expertise is critical to executing this plan. Askeladden Capital added that analysis of the shareholder value destruction that has occurred under the tenure of current directors Mitch Quain, Greg Woods, Richard Warzala, Yvonne Schlaeppi, and Alexis P. Michas, with emphasis on longstanding relationships among certain of these Board members that calls into question their independence and objectivity. Aankondiging • May 22
AstroNova, Inc. to Report Q1, 2026 Results on Jun 05, 2025 AstroNova, Inc. announced that they will report Q1, 2026 results Pre-Market on Jun 05, 2025 Aankondiging • Apr 22
AstroNova, Inc. Launches High Performance Digital Label Presses and Direct-To- Package Printer AstroNova, Inc. announced the launch of two new high-performance digital label presses and a direct-to-package Printer at FESPA Global Print Expo 2025 in Berlin, Germany, delivering a new standard of speed, flexibility, and cost-efficiency to the light to medium production segment. AstroNova's QuickLabel line extends its light production segment of digital label printing, with the introduction of QL-425 (A4 wide) and QL-435 (A3 wide) professional label presses. The Company will also introduce the VP-800, its latest solution to print on sustainable packaging materials, including corrugated cardboard, die-cut boxes, padded or plain envelopes, paper bags, and wood. Designed specifically for label converters and higher volume brand-owners and print service providers (PSPs) focused on medium-volume runs, these new systems combine advanced hardware, intelligent automation, and an ecosystem of support tools that help customers scale their output while keeping operating costs at a minimum. The restructuring of the leadership team has also enabled greater accountability through a more simplified organization. MTEX management is now fully integrated into the PI leadership team. Aankondiging • Mar 29
AstroNova, Inc. Appoints Darius G. Nevin to its Board of Directors AstroNova, Inc. announced that it has expanded its Board of Directors to six members with the appointment of Darius G. Nevin, effective immediately. A seasoned financial executive, Mr. Nevin, 67, will serve on the Audit Committee and Human Capital and Compensation Committee. He becomes the fifth independent member of the Board. Mr. Nevin served for nine years as Chief Financial Officer at then publicly traded Protection One, Inc., one of the largest security monitoring companies in the United States during his tenure. Since 2016, he has served on the board of Alarm.com. In 2022, Mr. Nevin joined the board of drug testing company Psychemedics Corporation, where he serves as Chairman. In addition, he served on the board of WCI Communities, Inc., from its initial public offering on the NYSE in 2013 until its sale in 2017. Mr. Nevin received a bachelor’s degree from Harvard University and an M.B.A. from the University of Chicago Booth School of Business. Aankondiging • Mar 24
AstroNova, Inc., Annual General Meeting, Jun 10, 2025 AstroNova, Inc., Annual General Meeting, Jun 10, 2025. Aankondiging • Mar 21
Astronova, Inc. Announces Restructuring Plan Includes the Reduction of Approximately 10% of the Global Workforce AstroNova, Inc.'s restructuring plan includes the reduction of approximately 10% of the Company’s global workforce, primarily in the PI segment, and the realignment of its underperforming MTEX operation in Portugal. As part of this initiative, AstroNova has cut approximately 70% of the MTEX product portfolio, phasing out low-volume, low-profit models and prioritizing higher-margin products that capitalize on the Company’s consumables business. In addition, all MTEX sales, marketing and customer support functions have been integrated into AstroNova’s global teams. Aankondiging • Nov 15
AstroNova, Inc. to Report Q3, 2025 Results on Dec 12, 2024 AstroNova, Inc. announced that they will report Q3, 2025 results Pre-Market on Dec 12, 2024 Aankondiging • Jun 19
Astronova, Inc. Announces Chief Financial Officer Changes AstroNova, Inc. announced the appointment of Thomas DeByle as the Company’s new chief financial officer, replacing David S. Smith, who has retired. Mr. DeByle is an experienced public company chief financial officer with deep financial acumen, as well as significant experience in financial strategy, international expansion and M&A. Mr. DeByle has more than 25 years of experience in senior financial leadership roles both in the United States as well as in Europe. He has been chief financial officer for publicly held companies NN, Inc. and Standex International Corporation, as well as privately held Plastic Industries, Inc. He also has had senior finance roles at Doosan Infracore, Ingersoll Rand, Thermo King International, Enerpac and Johnson Controls. He currently serves on the board of directors of privately held Good Foods Group, LLC and was previously on the board of publicly held Chase Corporation until its acquisition last year. Mr. DeByle obtained his MBA from Marquette University and his Bachelor of Business Administration in Accounting from St. Norbert College. Aankondiging • Jun 08
AstroNova, Inc. Reiterates Earnings Guidance for the Fiscal Year 2025 AstroNova, Inc. reiterated earnings guidance for the fiscal year 2025. For the full-year 2025 expectations for organic revenue growth in the mid-single digits. Aankondiging • Jun 06
Astronova and Newly Acquired Mtex Subsidiary Unveil Innovative Solutions At Drupa 2024 Printing Technology Show AstroNova, Inc. unveiled groundbreaking new innovative and sustainable printing technologies at the Drupa 2024 printing show in conjunction with its recently acquired MTEX NS subsidiary. Drupa 2024 is taking place from May 28 through June 7 in Dusseldorf, Germany. MTEX NS, which was acquired by AstroNova on May 6, 2024, specializes in providing advanced printing solutions tailored to various market segments, including packaging, labels, textiles and industrial applications. By integrating the expertise and product offerings of MTEX NS into its portfolio, AstroNova has significantly strengthened its position in the color digital printing market. At Drupa 2024, the world’s leading trade fair for printing technologies, AstroNova and MTEX NS are showcasing a range of groundbreaking products and solutions at a combined booth. Among the highlights are the latest advancements in label and packaging printing, including the acclaimed AQUAFLEX, TrojanLabel T2-PRO, ATOM 3, MULTI 800 and FLEXPACK solutions. Product Information from MTEX NS is a versatile and high-performance printing solution for untreated and treated papers designed to meet the demands of large format packaging customers. AQUAFLEX is primarily targeted at the paper bag segment, and there also has been significant interest from cup manufacturers, pet food packaging, and decorative paper printing. The presence of AQUAFLEX as an industrial solution garnered significant attention at Drupa 2024. The TrojanLabel T2-PRO system from AstroNova redefines digital label printing with its precision and speed, catering to the evolving needs of the label industry for customized and on-demand printing solutions. The T2-PRO has been in active Beta trials at several customer sites since the beginning of 2024 and has received highly positive reviews. The Company is booking orders for post-Beta commercial units at Drupa 2024 and plans to ship the TrojanLabel T2-PRO system starting in September 2024. The ATOM 3 by MTEX NS demonstrates AstroNova’s commitment to innovation for in-house professional label printing, offering unparalleled reliability and versatility for brands and print shops. The FLEXPACK series by MTEX NS represents the next generation of digital flexible packaging printing technology, delivering superior performance and productivity for flexible packaging printers. The MULTI 800 by MTEX NS is a digital printing solution for full color short-run printing on paper bags and cardboard boxes, and is a smart entry-level system for professional packaging and paper bag production. MTEX NS reported several order bookings for MULTI 800 at DRUPA from customers across Europe and Americas. Aankondiging • Jun 02
AstroNova, Inc. to Report Q1, 2025 Results on Jun 06, 2024 AstroNova, Inc. announced that they will report Q1, 2025 results Pre-Market on Jun 06, 2024 New Risk • Apr 14
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 8.0% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (5.4% increase in shares outstanding). Significant insider selling over the past 3 months (US$89k sold). Recent Insider Transactions Derivative • Apr 11
President exercised options and sold US$92k worth of stock On the 7th of April, Gregory Woods exercised options to acquire 5k shares at no cost and sold these for an average price of US$17.77 per share. This trade did not impact their existing holding. For the year to January 2018, Gregory's total compensation was 42% salary and 58% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since June 2023, Gregory's direct individual holding has increased from 166.56k shares to 178.92k. Company insiders have collectively sold US$321k more than they bought, via options and on-market transactions in the last 12 months. Aankondiging • Apr 02
AstroNova, Inc., Annual General Meeting, Jun 11, 2024 AstroNova, Inc., Annual General Meeting, Jun 11, 2024. Recent Insider Transactions • Mar 30
Vice President of Operations recently sold US$89k worth of stock On the 27th of March, Stephen Petrarca sold around 5k shares on-market at roughly US$17.79 per share. This transaction amounted to 15% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Stephen's only on-market trade for the last 12 months. Aankondiging • Mar 24
AstroNova, Inc. Provides Revenue Guidance for the Fiscal 2025 AstroNova, Inc. provided revenue guidance for the fiscal 2025. For fiscal 2025, the company expects to achieve full-year organic revenue percentage growth in the mid-single digits. Reported Earnings • Mar 24
Full year 2024 earnings released: EPS: US$0.63 (vs US$0.36 in FY 2023) Full year 2024 results: EPS: US$0.63 (up from US$0.36 in FY 2023). Revenue: US$148.1m (up 3.9% from FY 2023). Net income: US$4.69m (up 76% from FY 2023). Profit margin: 3.2% (up from 1.9% in FY 2023). Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Aankondiging • Mar 14
AstroNova, Inc. to Report Q4, 2024 Results on Mar 22, 2024 AstroNova, Inc. announced that they will report Q4, 2024 results Pre-Market on Mar 22, 2024 New Risk • Dec 09
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 43% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 11% per year over the past 5 years. Minor Risk Large one-off items impacting financial results. Reported Earnings • Dec 07
Third quarter 2024 earnings released: EPS: US$0.37 (vs US$0.039 in 3Q 2023) Third quarter 2024 results: EPS: US$0.37 (up from US$0.039 in 3Q 2023). Revenue: US$37.5m (down 4.7% from 3Q 2023). Net income: US$2.75m (up US$2.46m from 3Q 2023). Profit margin: 7.3% (up from 0.7% in 3Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Aankondiging • Nov 22
AstroNova, Inc. to Report Q3, 2024 Results on Dec 06, 2023 AstroNova, Inc. announced that they will report Q3, 2024 results Pre-Market on Dec 06, 2023 Aankondiging • Aug 03
AstroNova, Inc. to Report Q2, 2024 Results on Sep 06, 2023 AstroNova, Inc. announced that they will report Q2, 2024 results at 9:30 AM, US Eastern Standard Time on Sep 06, 2023 Aankondiging • Aug 02
Astronova Announces Strategic Realignment of Product Identification Segment to Improve Cost and Operational Efficiencies AstroNova, Inc. announced the implementation of a realignment of its Product Identification (“PI”) segment. The realignment is designed to streamline the cost structure and enhance the operational efficiencies of the segment to capitalize on the synergies of the Company’s Astro Machine, Inc. subsidiary, which was acquired in August 2022. As part of the realignment, AstroNova will transition more PI printer manufacturing from both Asia and its West Warwick, Rhode Island plant to the Astro Machine facility in Elk Grove Village, Illinois. In addition, AstroNova will exit certain older, lower-margin or low volume PI products to focus on expanding the sales of higher margin product lines with more advanced functionality and greater demand. Related initiatives include consolidation of international PI sales and distribution facilities and streamlining of AstroNova’s channel partner network, as well as acceleration of the ongoing printer retrofit program to restore printers sidelined due to a supplier’s ink quality issue. Reported Earnings • Jun 10
First quarter 2024 earnings released: EPS: US$0.12 (vs US$0.059 in 1Q 2023) First quarter 2024 results: EPS: US$0.12 (up from US$0.059 in 1Q 2023). Revenue: US$35.4m (up 14% from 1Q 2023). Net income: US$848.0k (up 100% from 1Q 2023). Profit margin: 2.4% (up from 1.4% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 28% per year whereas the company’s share price has increased by 31% per year. Aankondiging • May 26
AstroNova, Inc. to Report Q1, 2024 Results on Jun 08, 2023 AstroNova, Inc. announced that they will report Q1, 2024 results at 9:30 AM, US Eastern Standard Time on Jun 08, 2023 Recent Insider Transactions Derivative • May 19
Independent Director exercised options to buy US$76k worth of stock. On the 16th of May, Mitchell Quain exercised options to buy 5k shares at a strike price of around US$10.60, costing a total of US$53k. This transaction amounted to 6.2% of their direct individual holding at the time of the trade. Since June 2022, Mitchell has owned 80.64k shares directly. Company insiders have collectively bought US$702k more than they sold, via options and on-market transactions, in the last 12 months. Recent Insider Transactions Derivative • Apr 12
President exercised options and sold US$75k worth of stock On the 7th of April, Gregory Woods exercised options to acquire 5k shares at no cost and sold these for an average price of US$14.57 per share. This trade did not impact their existing holding. For the year to January 2017, Gregory's total compensation was 31% salary and 69% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since June 2022, Gregory's direct individual holding has increased from 142.62k shares to 153.91k. Company insiders have collectively bought US$698k more than they sold, via options and on-market transactions, in the last 12 months. Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to US$14.01, the stock trades at a trailing P/E ratio of 38.7x. Average trailing P/E is 25x in the Tech industry in the US. Total returns to shareholders of 130% over the past three years. Reported Earnings • Mar 24
Full year 2023 earnings released: EPS: US$0.36 (vs US$0.89 in FY 2022) Full year 2023 results: EPS: US$0.36 (down from US$0.89 in FY 2022). Revenue: US$142.5m (up 21% from FY 2022). Net income: US$2.66m (down 59% from FY 2022). Profit margin: 1.9% (down from 5.5% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Dec 15
Insider recently bought US$952k worth of stock On the 12th of December, Peter Kamin bought around 81k shares on-market at roughly US$11.72 per share. This transaction amounted to 23% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$1.0m more in shares than they have sold in the last 12 months. Reported Earnings • Dec 08
Third quarter 2023 earnings released: EPS: US$0.039 (vs US$0.059 loss in 3Q 2022) Third quarter 2023 results: EPS: US$0.039 (up from US$0.059 loss in 3Q 2022). Revenue: US$39.4m (up 37% from 3Q 2022). Net income: US$289.0k (up US$714.0k from 3Q 2022). Profit margin: 0.7% (up from net loss in 3Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • Sep 07
Second quarter 2023 earnings released: EPS: US$0.08 (vs US$0.97 in 2Q 2022) Second quarter 2023 results: EPS: US$0.08 (down from US$0.97 in 2Q 2022). Revenue: US$32.3m (up 8.1% from 2Q 2022). Net income: US$584.0k (down 92% from 2Q 2022). Profit margin: 1.8% (down from 24% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Recent Insider Transactions Derivative • Aug 31
President exercised options and sold US$92k worth of stock On the 29th of August, Gregory Woods exercised 25.00k options at around US$7.91, then sold 18k of the shares acquired at an average of US$12.99 per share and kept the remainder. For the year to January 2016, Gregory's total compensation was 31% salary and 69% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2022, Gregory's direct individual holding has increased from 138.22k shares to 142.62k. Company insiders have collectively sold US$162k more than they bought, via options and on-market transactions in the last 12 months. Board Change • Jul 31
High number of new directors Director Alexis Michas was the last director to join the board, commencing their role in 2022. Reported Earnings • Jun 09
First quarter 2023 earnings released: EPS: US$0.058 (vs US$0.083 in 1Q 2022) First quarter 2023 results: EPS: US$0.058 (down from US$0.083 in 1Q 2022). Revenue: US$31.0m (up 6.6% from 1Q 2022). Net income: US$425.0k (down 28% from 1Q 2022). Profit margin: 1.4% (down from 2.0% in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. 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. 3 experienced directors. 3 highly experienced directors. Independent Director Jean Bua 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. Buying Opportunity • Apr 18
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 5.3%. The fair value is estimated to be US$16.04, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.0% over the last 3 years, while earnings per share has been flat. Reported Earnings • Apr 14
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: US$0.89 (up from US$0.18 in FY 2021). Revenue: US$117.5m (up 1.2% from FY 2021). Net income: US$6.43m (up 401% from FY 2021). Profit margin: 5.5% (up from 1.1% in FY 2021). Revenue missed analyst estimates by 6.1%. Earnings per share (EPS) also missed analyst estimates by 200%. Over the next year, revenue is forecast to grow 6.4%, compared to a 6.2% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Board Change • Jan 01
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. 4 experienced directors. 2 highly experienced directors. Independent Director Jean Bua 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. Recent Insider Transactions • Dec 18
Independent Director recently bought US$53k worth of stock On the 16th of December, Mitchell Quain bought around 4k shares on-market at roughly US$13.87 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$108k more in shares than they have sold in the last 12 months. Reported Earnings • Dec 10
Third quarter 2022 earnings: EPS and revenues miss analyst expectations Third quarter 2022 results: US$0.059 loss per share (down from US$0.002 profit in 3Q 2021). Revenue: US$28.9m (up 3.0% from 3Q 2021). Net loss: US$425.0k (down US$437.0k from profit in 3Q 2021). Revenue missed analyst estimates by 6.1%. Earnings per share (EPS) were also behind analyst expectations. Earnings per share (EPS) missed analyst estimates. Over the next year, revenue is forecast to grow 8.9%, compared to a 5.2% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 7% per year. Board Change • Dec 05
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. 4 experienced directors. 2 highly experienced directors. Independent Director Jean Bua 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. Recent Insider Transactions • Jul 03
Independent Director recently bought US$55k worth of stock On the 28th of June, Mitchell Quain bought around 4k shares on-market at roughly US$13.82 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Jun 12
First quarter 2022 earnings released: EPS US$0.083 (vs US$0.061 in 1Q 2021) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2022 results: Revenue: US$29.1m (down 6.0% from 1Q 2021). Net income: US$593.0k (up 37% from 1Q 2021). Profit margin: 2.0% (up from 1.4% in 1Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Reported Earnings • Apr 18
Full year 2021 earnings released: EPS US$0.18 (vs US$0.25 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: US$116.0m (down 13% from FY 2020). Net income: US$1.28m (down 27% from FY 2020). Profit margin: 1.1% (down from 1.3% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 26
Full year 2021 earnings released: EPS US$0.18 (vs US$0.25 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: US$116.0m (down 13% from FY 2020). Net income: US$1.28m (down 27% from FY 2020). Profit margin: 1.1% (down from 1.3% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Nov 10
New 90-day high: US$8.56 The company is up 11% from its price of US$7.74 on 12 August 2020. The American market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Tech industry, which is up 3.0% over the same period. Is New 90 Day High Low • Oct 20
New 90-day high: US$8.23 The company is up 18% from its price of US$7.00 on 22 July 2020. The American market is up 8.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Tech industry, which is up 22% over the same period.