Announcement • Feb 09
Redishred Shares to Delist from the TSX-V as of the Close of Trading on or About Feb. 10, 2025 Redishred Capital Corp. has completed its previously announced statutory plan of arrangement pursuant to the Canada Business Corporations Act. Pursuant to the arrangement, a subsidiary of VRC Companies LLC has acquired all of the issued and outstanding common shares of Redishred in an all-cash transaction for $5 per share. A detailed description of the arrangement is set in Redishred's management information circular dated Dec. 20, 2024. Shareholders can obtain a copy of the circular as filed with applicable Canadian securities regulatory authorities on SEDAR+. It is anticipated that the shares will be delisted from the TSX Venture Exchange as of the close of trading on or about Feb. 10, 2025. Redishred will apply to the Canadian securities regulators for it to cease to be a reporting issuer under applicable Canadian securities laws. Recent Insider Transactions Derivative • Dec 13
Insider exercised options to buy CA$119k worth of stock. On the 9th of December, Katherina Pawluk exercised options to buy 24k shares at a strike price of around CA$3.56, costing a total of CA$87k. This transaction amounted to 95% of their direct individual holding at the time of the trade. As of today, Katherina currently holds no shares directly. Company insiders have collectively bought CA$148k more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • Nov 28
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: CA$0.039 loss per share (down from CA$0.058 profit in 3Q 2023). Revenue: CA$17.9m (up 16% from 3Q 2023). Net loss: CA$716.0k (down 167% from profit in 3Q 2023). Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Commercial Services industry in Canada. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Nov 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CA$4.87, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 16x in the Commercial Services industry in Canada. Total returns to shareholders of 11% over the past three years. Announcement • Nov 27
RediShred Capital Corp. to Report Q3, 2024 Results on Nov 27, 2024 RediShred Capital Corp. announced that they will report Q3, 2024 results on Nov 27, 2024 Price Target Changed • Nov 22
Price target decreased by 17% to CA$5.33 Down from CA$6.42, the current price target is an average from 3 analysts. New target price is 9.5% above last closing price of CA$4.87. Stock is up 52% over the past year. The company is forecast to post earnings per share of CA$0.19 next year compared to a net loss per share of CA$0.029 last year. Valuation Update With 7 Day Price Move • Sep 23
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to CA$3.84, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 17x in the Commercial Services industry in Canada. Total loss to shareholders of 4.0% over the past three years. Reported Earnings • Aug 29
Second quarter 2024 earnings: EPS exceeds analyst expectations Second quarter 2024 results: EPS: CA$0.054 (up from CA$0.053 loss in 2Q 2023). Revenue: CA$18.0m (up 7.2% from 2Q 2023). Net income: CA$992.0k (up CA$1.96m from 2Q 2023). Profit margin: 5.5% (up from net loss in 2Q 2023). The move to profitability was primarily driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 36%. Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Commercial Services industry in Canada. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Aug 26
RediShred Capital Corp. to Report Q2, 2024 Results on Aug 28, 2024 RediShred Capital Corp. announced that they will report Q2, 2024 results on Aug 28, 2024 Announcement • Jul 17
Redishred Capital Corp. Announces Demise of Robert G. Kay, Board Member Redishred Capital Corp. announced that Robert Kay, a member of the Company's board of directors, has passed away. Mr. Kay had been a director on the Company's board since 2009, contributing to the Company a lifetime of wisdom in business, operations, sales, and leadership. Mr. Kay had an illustrious business career, he was the founder of Springwall Sleep Products Inc., and was the Chairperson of the company until his death. Additionally, Mr. Kay was a long-standing director and held the role of Chairperson of the Board of a TSX listed company until his retirement earlier in 2024. Mr. Kay had served on various trade associations boards and was an alumnus of Mount Allison University. Announcement • Jun 05
RediShred Capital Corp. (TSXV:KUT) acquired SelectShred, Inc. for $0.5 million. RediShred Capital Corp. (TSXV:KUT) acquired SelectShred, Inc. for $0.5 million on May 31, 2024. The purchase price for this acquisition, including earnouts, is estimated to be between $0.4 million and $0.5 million, depending on the achievement of certain financial results. The acquisition was financed by utilizing the RediShred Capital Corp.'s senior credit facility. Select Shred earned approximately $0.3 million in revenue in 2023. Pro forma EBITDA margin of Select Shred which is estimated to be in the range of 35% to 40% and views this acquisition as accretive to the RediShred 's cash flows and earnings per share.
RediShred Capital Corp. (TSXV:KUT) completed the acquisition of SelectShred, Inc. on May 31, 2024. Reported Earnings • May 29
First quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2024 results: EPS: CA$0.098 (up from CA$0.04 in 1Q 2023). Revenue: CA$17.2m (up 1.0% from 1Q 2023). Net income: CA$1.79m (up 143% from 1Q 2023). Profit margin: 10% (up from 4.3% in 1Q 2023). The increase in margin was primarily driven by lower expenses. Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) exceeded analyst estimates. Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Commercial Services industry in Canada. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • May 28
RediShred Capital Corp. to Report Q1, 2024 Results on May 28, 2024 RediShred Capital Corp. announced that they will report Q1, 2024 results on May 28, 2024 Reported Earnings • Apr 30
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: CA$0.029 loss per share (down from CA$0.32 profit in FY 2022). Revenue: CA$65.9m (up 15% from FY 2022). Net loss: CA$529.0k (down 109% from profit in FY 2022). Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 6.4% p.a. on average during the next 2 years, compared to a 3.1% growth forecast for the Commercial Services industry in Canada. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Price Target Changed • Dec 02
Price target decreased by 13% to CA$6.33 Down from CA$7.25, the current price target is an average from 3 analysts. New target price is 126% above last closing price of CA$2.80. Stock is down 29% over the past year. The company is forecast to post earnings per share of CA$0.01 for next year compared to CA$0.32 last year. Reported Earnings • Nov 24
Third quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2023 results: EPS: CA$0.058 (down from CA$0.21 in 3Q 2022). Revenue: CA$15.4m (up 4.5% from 3Q 2022). Net income: CA$1.07m (down 73% from 3Q 2022). Profit margin: 6.9% (down from 26% in 3Q 2022). Revenue missed analyst estimates by 5.4%. Earnings per share (EPS) exceeded analyst estimates by 140%. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Commercial Services industry in Canada. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 24
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CA$3.10, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 21x in the Commercial Services industry in Canada. Total returns to shareholders of 27% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CA$4.11 per share. Announcement • Nov 21
RediShred Capital Corp. to Report Q3, 2023 Results on Nov 23, 2023 RediShred Capital Corp. announced that they will report Q3, 2023 results on Nov 23, 2023 Buying Opportunity • Oct 20
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 23%. The fair value is estimated to be CA$3.57, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 37% over the last 3 years. Earnings per share has grown by 61%. Revenue is forecast to grow by 6.2% in a year. Earnings is forecast to decline by 27% in the next year. Announcement • Sep 08
RediShred Capital Corp. (TSXV:KUT) acquired PROSHRED Baltimore from Martin and Karen Fisher for $4 million. RediShred Capital Corp. (TSXV:KUT) acquired PROSHRED Baltimore from Martin and Karen Fisher for $4 million on September 7, 2023.The purchase price for this acquisition, including earnouts, is estimated to be between $3.6 million and $4.0 million USD, depending on the performance of Proshred Baltimore relative to earn-out targets. The Company financed this acquisition through a combination of cash on hand and borrowings under its acquisition loan facility. Proshred Baltimore earned approximately $2.0 million USD in revenue during fiscal 2022.RediShred Capital Corp. (TSXV:KUT) completed the acquisition of PROSHRED Baltimore from Martin and Karen Fisher on September 7, 2023. Announcement • Sep 06
RediShred Capital Corp. (TSXV:KUT) acquired Security Shredding. RediShred Capital Corp. (TSXV:KUT) acquired Security Shredding on August 31, 2023. The acquisition was financed by utilizing Redishred's cash reserves. As reported on September 5, 2023, Security Shredding revenue for the year ended December 31, 2022 was $0.66 million.
RediShred Capital Corp. (TSXV:KUT) completed the acquisition of Security Shredding on August 31, 2023. Major Estimate Revision • Aug 31
Consensus EPS estimates fall from profit to CA$0.005 loss The consensus outlook for fiscal year 2023 has been updated. Expected to report loss instead of -CA$0.005 instead of CA$0.185 per share profit previously forecast. Revenue forecast unchanged at CA$64.6m Commercial Services industry in Canada expected to see average net income growth of 54% next year. Consensus price target down from CA$7.33 to CA$7.17. Share price fell 7.7% to CA$3.47 over the past week. New Risk • Aug 28
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 21% 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 Interest payments are not well covered by earnings (2.6x net interest cover). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.0% net profit margin). Market cap is less than US$100m (CA$65.0m market cap, or US$47.8m). Reported Earnings • Aug 25
Second quarter 2023 earnings: EPS misses analyst expectations Second quarter 2023 results: CA$0.053 loss per share (down from CA$0.15 profit in 2Q 2022). Revenue: CA$16.8m (up 15% from 2Q 2022). Net loss: CA$970.0k (down 135% from profit in 2Q 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Commercial Services industry in Canada. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Aug 19
RediShred Capital Corp. to Report Q2, 2023 Results on Aug 24, 2023 RediShred Capital Corp. announced that they will report Q2, 2023 results on Aug 24, 2023 Reported Earnings • May 27
First quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2023 results: EPS: CA$0.04 (up from CA$0.015 in 1Q 2022). Revenue: CA$17.0m (up 36% from 1Q 2022). Net income: CA$735.0k (up 169% from 1Q 2022). Profit margin: 4.3% (up from 2.2% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 8.8%. Earnings per share (EPS) missed analyst estimates by 20%. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Commercial Services industry in Canada. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Announcement • May 25
RediShred Capital Corp. to Report Q1, 2023 Results on May 25, 2023 RediShred Capital Corp. announced that they will report Q1, 2023 results at 4:00 PM, US Eastern Standard Time on May 25, 2023 Buying Opportunity • Apr 28
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 5.1%. The fair value is estimated to be CA$4.83, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 33% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 13% in 2 years. Earnings is forecast to decline by 28% in the next 2 years. Reported Earnings • Apr 23
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: CA$0.32 (up from CA$0.086 in FY 2021). Revenue: CA$57.2m (up 58% from FY 2021). Net income: CA$5.87m (up 333% from FY 2021). Profit margin: 10% (up from 3.8% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.9%. Earnings per share (EPS) also surpassed analyst estimates by 2.1%. Revenue is forecast to grow 6.1% p.a. on average during the next 2 years, compared to a 9.1% growth forecast for the Commercial Services industry in Canada. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Mar 29
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 2.7%. The fair value is estimated to be CA$4.67, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 31% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 22% in 2 years. Earnings is forecast to decline by 28% in the next 2 years. Buying Opportunity • Mar 07
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 3.8%. The fair value is estimated to be CA$4.69, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 31% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 22% in 2 years. Earnings is forecast to decline by 28% in the next 2 years. Buying Opportunity • Feb 10
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 7.0%. The fair value is estimated to be CA$4.68, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 31% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 22% in 2 years. Earnings is forecast to decline by 28% in the next 2 years. Buying Opportunity • Jan 06
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 7.4%. The fair value is estimated to be CA$4.55, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 31% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 22% in 2 years. Earnings is forecast to decline by 28% in the next 2 years. Major Estimate Revision • Dec 06
Consensus EPS estimates increase by 65% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from CA$54.5m to CA$55.8m. EPS estimate increased from CA$0.19 to CA$0.31 per share. Net income forecast to shrink 26% next year vs 140% growth forecast for Commercial Services industry in Canada . Consensus price target down from CA$8.25 to CA$7.56. Share price fell 3.2% to CA$3.92 over the past week. Price Target Changed • Dec 02
Price target decreased to CA$7.56 Down from CA$8.25, the current price target is an average from 4 analysts. New target price is 93% above last closing price of CA$3.92. Stock is down 16% over the past year. The company is forecast to post earnings per share of CA$0.31 for next year compared to CA$0.086 last year. Reported Earnings • Dec 01
Third quarter 2022 earnings: EPS exceeds analyst expectations Third quarter 2022 results: EPS: CA$0.21 (up from CA$0.10 in 3Q 2021). Revenue: CA$14.7m (up 50% from 3Q 2021). Net income: CA$3.89m (up 143% from 3Q 2021). Profit margin: 26% (up from 16% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Commercial Services industry in Canada. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Nov 24
RediShred Capital Corp. to Report Q3, 2022 Results on Nov 29, 2022 RediShred Capital Corp. announced that they will report Q3, 2022 results on Nov 29, 2022 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. No experienced directors. 8 highly experienced directors. CEO, President & Director Jeff Hasham was the last director to join the board, commencing their role in 2011. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Sep 01
Consensus revenue estimates increase by 12% The consensus outlook for revenues in 2022 has improved. 2022 revenue forecast increased from CA$48.5m to CA$54.1m. EPS estimate increased from CA$0.10 to CA$0.19 per share. Net income forecast to grow 9.4% next year vs 114% growth forecast for Commercial Services industry in Canada. Consensus price target up from CA$7.81 to CA$8.13. Share price rose 14% to CA$4.22 over the past week. Reported Earnings • Aug 26
Second quarter 2022 earnings: EPS and revenues exceed analyst expectations Second quarter 2022 results: EPS: CA$0.15 (up from CA$0.026 loss in 2Q 2021). Revenue: CA$14.6m (up 68% from 2Q 2021). Net income: CA$2.81m (up CA$3.22m from 2Q 2021). Profit margin: 19% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 18%. Earnings per share (EPS) also surpassed analyst estimates by 208%. Over the next year, revenue is forecast to grow 5.5%, compared to a 15% growth forecast for the Commercial Services industry in Canada. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Announcement • Aug 24
RediShred Capital Corp. to Report Q2, 2022 Results on Aug 25, 2022 RediShred Capital Corp. announced that they will report Q2, 2022 results on Aug 25, 2022 Announcement • Jun 04
RediShred Capital Corp. (TSXV:KUT) acquired assets and clients of Safeguard Document Destruction located in New Jersey and Fort Lauderdale. RediShred Capital Corp. (TSXV:KUT) acquired assets and clients of Safeguard Document Destruction located in New Jersey and Fort Lauderdale on June 3, 2022. RediShred Capital Corp. views this acquisition as accretive to the Company’s cash flows and earnings per share and anticipates an increase in its annualized revenue of over U.S. $1.5 million dollars per annum, with pro-forma EBITDA margin in the range of 29% to 31%.
RediShred Capital Corp. (TSXV:KUT) completed the acquisition of assets and clients of Safeguard Document Destruction located in New Jersey and Fort Lauderdale on June 3, 2022. Reported Earnings • May 27
First quarter 2022 earnings released: EPS: CA$0.003 (vs CA$0.012 in 1Q 2021) First quarter 2022 results: EPS: CA$0.003 (down from CA$0.012 in 1Q 2021). Revenue: CA$12.5m (up 71% from 1Q 2021). Net income: CA$273.0k (down 71% from 1Q 2021). Profit margin: 2.2% (down from 13% in 1Q 2021). Over the next year, revenue is forecast to grow 11%, compared to a 15% growth forecast for the industry in Canada. Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Announcement • May 21
RediShred Capital Corp. to Report Q1, 2022 Results on May 26, 2022 RediShred Capital Corp. announced that they will report Q1, 2022 results on May 26, 2022 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. No experienced directors. 8 highly experienced directors. CEO, President & Director Jeff Hasham was the last director to join the board, commencing their role in 2011. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 19
RediShred Capital Corp. to Report Q4, 2021 Results on Apr 21, 2022 RediShred Capital Corp. announced that they will report Q4, 2021 results on Apr 21, 2022 Recent Insider Transactions • Dec 29
Independent Director recently bought CA$100k worth of stock On the 23rd of December, James Lawley bought around 114k shares on-market at roughly CA$0.88 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$622k more in shares than they have sold in the last 12 months. Announcement • Dec 24
RediShred Capital Corp. has completed a Follow-on Equity Offering in the amount of CAD 7.502 million. RediShred Capital Corp. has completed a Follow-on Equity Offering in the amount of CAD 7.502 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 7,956,818
Price\Range: CAD 0.88
Discount Per Security: CAD 0.0528
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 568,182
Price\Range: CAD 0.88
Discount Per Security: CAD 0.0176 Announcement • Dec 05
RediShred Capital Corp. (TSXV:KUT) acquired American Security Shredding Corp for $8.6 million. RediShred Capital Corp. (TSXV:KUT) acquired American Security Shredding Corp for $8.6 million on December 1, 2021. The purchase price includes $5.2 million paid in closing and earn-out consideration of up to an aggregate of $3.4 million payable over three years, based on the attainment of certain financial metrics. American Security Shredding earned approximately $4.1 million in revenue during fiscal 2020 and has a current run rate of $4.6 million in revenue for 2021. RediShred financed this acquisition primarily through its acquisition loan facility. Redishred views this acquisition as accretive to its cash flows and earnings on a per share basis.
RediShred Capital Corp. (TSXV:KUT) completed the acquisition of American Security Shredding Corp on December 1, 2021. Reported Earnings • Nov 26
Third quarter 2021 earnings: EPS and revenues exceed analyst expectations Third quarter 2021 results: EPS: CA$0.02 (up from CA$0.006 in 3Q 2020). Revenue: CA$9.78m (up 47% from 3Q 2020). Net income: CA$1.60m (up 251% from 3Q 2020). Profit margin: 16% (up from 6.8% in 3Q 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates by 300%. Earnings per share (EPS) surpassed analyst estimates by 300%. Over the next year, revenue is forecast to grow 13%, compared to a 21% growth forecast for the industry in Canada. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 99 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 26
Third quarter 2021 earnings: EPS and revenues exceed analyst expectations Third quarter 2021 results: EPS: CA$0.02 (up from CA$0.006 in 3Q 2020). Revenue: CA$9.78m (up 47% from 3Q 2020). Net income: CA$1.60m (up 251% from 3Q 2020). Profit margin: 16% (up from 6.8% in 3Q 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates by 300%. Earnings per share (EPS) surpassed analyst estimates by 300%. Over the next year, revenue is forecast to grow 13%, compared to a 21% growth forecast for the industry in Canada. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 99 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 26
Second quarter 2021 earnings released: CA$0.005 loss per share (vs CA$0.008 loss in 2Q 2020) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: CA$8.68m (up 44% from 2Q 2020). Net loss: CA$409.9k (loss narrowed 33% from 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 79 percentage points per year, which is a significant difference in performance. Announcement • Aug 05
RediShred Capital Corp. (TSXV:KUT) completed the acquisition of Proshred Atlanta Business for $2.9 million. RediShred Capital Corp. (TSXV:KUT) acquired Proshred Atlanta Business for $2.9 million on July 30, 2021. The Atlanta location earned approximately $1.3 million in revenue during the fiscal year 2020. The purchase price of the acquisition has a target payout of between $2 million and $2.9 million based on the performance of the operation over the following three years from the closing date. Cash consideration was $2 million. The remaining consideration was in the form of earn-out provisions tied to attainment of financial metrics. RediShred Capital Corp. financed this acquisition by way of cash reserves and from accessing (CAD 0.854 million) $0.685 million from its acquisition loan facility.
RediShred Capital Corp. (TSXV:KUT) completed the acquisition of Proshred Atlanta Business on July 30, 2021. Price Target Changed • Aug 04
Price target increased to CA$1.06 Up from CA$0.97, the current price target is an average from 4 analysts. New target price is 48% above last closing price of CA$0.72. Stock is up 41% over the past year. Recent Insider Transactions • Jun 02
Independent Director recently bought CA$106k worth of stock On the 27th of May, James Lawley bought around 150k shares on-market at roughly CA$0.71 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$167k more in shares than they have sold in the last 12 months. Reported Earnings • May 29
First quarter 2021 earnings released: EPS CA$0.012 (vs CA$0.047 in 1Q 2020) The company reported a soft first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: CA$7.31m (up 11% from 1Q 2020). Net income: CA$956.1k (down 74% from 1Q 2020). Profit margin: 13% (down from 56% in 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Announcement • May 04
RediShred Capital Corp. (TSXV:KUT) acquired Proshred Richmond Business from its franchisee for $1.5 million. RediShred Capital Corp. (TSXV:KUT) acquired Proshred Richmond Business from its franchisee for $1.5 million on May 1, 2021. The consideration includes $1.1 million paid in cash on closing and the remaining consideration of $0.4 million was in the form of an earnout provision tied to attaining financial metrics. The Richmond location earned approximately $0.87 million in revenue during the fiscal year 2020 and currently operates 4 trucks in the Richmond market.
RediShred Capital Corp. (TSXV:KUT) completed the acquisition of Proshred Richmond Business from its franchisee on May 1, 2021. Reported Earnings • Apr 17
Full year 2020 earnings released: EPS CA$0.004 (vs CA$0.011 loss in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CA$25.4m (up 14% from FY 2019). Net income: CA$275.9k (up CA$1.05m from FY 2019). Profit margin: 1.1% (up from net loss in FY 2019). Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Price Target Changed • Jan 09
Price target raised to CA$0.96 Up from CA$0.87, the current price target is an average from 3 analysts. The new target price is 58% above the current share price of CA$0.61. As of last close, the stock is down 22% over the past year. Is New 90 Day High Low • Jan 09
New 90-day high: CA$0.61 The company is up 24% from its price of CA$0.49 on 09 October 2020. The Canadian market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Commercial Services industry, which is up 22% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CA$1.97 per share. Price Target Changed • Jan 06
Price target raised to CA$0.92 Up from CA$0.85, the current price target is an average from 3 analysts. The new target price is 64% above the current share price of CA$0.56. As of last close, the stock is down 29% over the past year. Announcement • Jan 05
RediShred Capital Corp. (TSXV:KUT) acquired Proshred and Proscan Massachusetts business in Springfield from its franchisee. RediShred Capital Corp. (TSXV:KUT) acquired Proshred and Proscan Massachusetts business in Springfield from its franchisee on December 31, 2020. The consideration paid includes cash and an earnout provision tied to attaining financial metrics. The acquisition includes on-site paper shredding trucks, containers, scanning equipment and technology, client relationships and other assets used in the shredding and scanning businesses. Proshred and Proscan Massachusetts business in Springfield earned $3.4M USD in revenue during the fiscal year 2019. Redishred views this acquisition as accretive to Redishred's cash flows and earnings per share.
RediShred Capital Corp. (TSXV:KUT) completed the acquisition of Proshred and Proscan Massachusetts business in Springfield from its franchisee on December 31, 2020. Is New 90 Day High Low • Dec 05
New 90-day high: CA$0.57 The company is up 2.0% from its price of CA$0.56 on 03 September 2020. The Canadian market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Commercial Services industry, which is up 23% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CA$1.46 per share. Reported Earnings • Nov 28
Third quarter 2020 earnings released: EPS CA$0.006 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: CA$6.67m (up 25% from 3Q 2019). Net income: CA$455.5k (up 198% from 3Q 2019). Profit margin: 6.8% (up from 2.9% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Nov 28
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 5.7%. Earnings per share (EPS) also surpassed estimates. Over the next year, revenue is forecast to grow 9.7%, compared to a 23% growth forecast for the Commercial Services industry in Canada. Announcement • Nov 25
RediShred Capital Corp. to Report Q3, 2020 Results on Nov 26, 2020 RediShred Capital Corp. announced that they will report Q3, 2020 results at 10:42 PM, GMT Standard Time on Nov 26, 2020 Is New 90 Day High Low • Oct 24
New 90-day low: CA$0.43 The company is down 20% from its price of CA$0.54 on 24 July 2020. The Canadian market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Commercial Services industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CA$1.28 per share. Is New 90 Day High Low • Oct 06
New 90-day low: CA$0.44 The company is down 17% from its price of CA$0.53 on 08 July 2020. The Canadian market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Commercial Services industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CA$1.28 per share. 
