Announcement • Jun 30
EMERGE Commerce Ltd. Announces Drew Green Will Not Seek Re-Election EMERGE Commerce Ltd. announced Drew Green did not seek re-election to the EMERGE Board of Directors. Mr. Green will continue to support the Company in an advisory capacity moving forward. New Risk • Jun 18
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$13.2m (US$9.36m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Negative equity (-CA$5.4m). Market cap is less than US$10m (CA$13.2m market cap, or US$9.36m). Minor Risk Shareholders have been diluted in the past year (24% increase in shares outstanding). Announcement • May 20
EMERGE Commerce Ltd. to Report Q1, 2026 Results on May 28, 2026 EMERGE Commerce Ltd. announced that they will report Q1, 2026 results Pre-Market on May 28, 2026 Reported Earnings • May 01
Full year 2025 earnings released: CA$0.001 loss per share (vs CA$0.008 loss in FY 2024) Full year 2025 results: CA$0.001 loss per share (improved from CA$0.008 loss in FY 2024). Revenue: CA$27.7m (up 35% from FY 2024). Net loss: CA$183.8k (loss narrowed 83% from FY 2024). Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Apr 23
EMERGE Commerce Ltd., Annual General Meeting, Jun 29, 2026 EMERGE Commerce Ltd., Annual General Meeting, Jun 29, 2026. Announcement • Apr 14
EMERGE Commerce Ltd. to Report Q4, 2025 Results on Apr 29, 2026 EMERGE Commerce Ltd. announced that they will report Q4, 2025 results at 9:30 AM, US Eastern Standard Time on Apr 29, 2026 New Risk • Mar 09
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 27% 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 Risks Interest payments are not well covered by earnings (0.2x net interest cover). Negative equity (-CA$7.6m). Minor Risks Shareholders have been diluted in the past year (27% increase in shares outstanding). Market cap is less than US$100m (CA$19.4m market cap, or US$14.3m). Announcement • Mar 07
EMERGE Commerce Ltd. announced that it has received CAD 2.7 million in funding On March 2, 2026, EMERGE Commerce Ltd. closed the transaction. The company announced that it has issued an aggregate of 27,000,000 units in the capital of the Company ("Units") at a price of CAD 0.10 per Unit for aggregate gross proceeds of CAD 2,700,000. Each Unit consists of one common share in the capital of the Company (the "Shares") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"), with each Warrant exercisable until March 6, 2028, at an exercise price of CAD 0.15 per Share. The Company paid aggregate finder's fees of CAD 80,804 and issued 773,000 common share purchase warrants (the "Finder's Warrants") in connection with subscriptions from subscribers introduced to the Offering by certain finders. Each Finder's Warrant is exercisable to acquire one additional Share at an exercise price of CAD 0.10 per Share until March 6, 2028, which is 24 months from the date of issuance. Announcement • Feb 19
EMERGE Commerce Ltd. announced that it expects to receive CAD 1.8 million in funding EMERGE Commerce Ltd. announced a non-brokered private placement to issue 18,000,000 units at an issue price of CAD 0.10 for the proceeds of CAD 1,800,000 on February 19, 2026. Each Unit consists of one common share and and one-half of one common share purchase warrant with each Warrant exercisable for a period of 24 months from the date of issuance at an exercise price of CAD 0.15 per Share. The closing of the Offering is subject to certain conditions including, but not limited to, the submission of al required forms to the TSXV and the closing of the Offering. The Company may pay to any applicable finder a cash commission of up to 6% of the gross
proceeds of the Offering and may issue finders' warrants of up to 6% of the Units sold under the Offering. Al securities issued pursuant to the Offering are subject to a statutory hold period of four months from the date of issuance in accordance with applicable securities laws. New Risk • Dec 04
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 Canadian stocks, typically moving 15% 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 Interest payments are not well covered by earnings (0.2x net interest cover). Negative equity (-CA$7.6m). Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Market cap is less than US$100m (CA$16.4m market cap, or US$11.8m). Announcement • Nov 27
Emerge Commerce Ltd. Provides Earnings Guidance for the Fourth Quarter of 2025 EMERGE Commerce Ltd. provided earnings guidance for the fourth quarter of 2025. For the quarter, the company expects to achieve another quarter of strong YoY revenue growth. New Risk • Nov 26
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 0.2x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.2x net interest cover). Negative equity (-CA$7.6m). Minor Risk Market cap is less than US$100m (CA$15.7m market cap, or US$11.2m). Announcement • Nov 17
EMERGE Commerce Ltd. to Report Q3, 2025 Results on Nov 26, 2025 EMERGE Commerce Ltd. announced that they will report Q3, 2025 results at 9:30 AM, US Eastern Standard Time on Nov 26, 2025 Reported Earnings • Aug 28
Second quarter 2025 earnings released: EPS: CA$0.001 (vs CA$0.005 loss in 2Q 2024) Second quarter 2025 results: EPS: CA$0.001 (up from CA$0.005 loss in 2Q 2024). Revenue: CA$8.48m (up 63% from 2Q 2024). Net income: CA$201.0k (up CA$864.4k from 2Q 2024). Profit margin: 2.4% (up from net loss in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Announcement • Aug 28
EMERGE Commerce Ltd. Provides Earnings Guidance for the Third Quarter of 2025 EMERGE Commerce Ltd. provided earnings guidance for the third quarter of 2025. For the quarter, the company expects to achieve another quarter of double-digit revenue growth. Announcement • Aug 13
EMERGE Commerce Ltd. to Report Q2, 2025 Results on Aug 27, 2025 EMERGE Commerce Ltd. announced that they will report Q2, 2025 results Pre-Market on Aug 27, 2025 Announcement • Jul 16
EMERGE Commerce Ltd. Provides Earnings Guidance for the Second Quarter of 2025 EMERGE Commerce Ltd. provided earnings guidance for the second quarter of 2025. For the quarter, the company expects revenue increased to $8.3 million vs. $4.6 million, representing 79% YoY growth. Board Change • Jul 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. No highly experienced directors. Independent Director Ian McKinnon was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • May 29
First quarter 2025 earnings released: EPS: CA$0 (vs CA$0 in 1Q 2024) First quarter 2025 results: EPS: CA$0 (in line with 1Q 2024). Revenue: CA$5.03m (flat on 1Q 2024). Net loss: CA$21.6k (down 329% from profit in 1Q 2024). 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 47% per year, which means it is significantly lagging earnings. Announcement • May 29
EMERGE Commerce Ltd. Provides Financial Guidance for the Second Quarter of 2025 EMERGE Commerce Ltd. provides financial guidance for the second quarter of 2025. For the period, the company expects to achieve double-digit revenue growth. Announcement • May 20
EMERGE Commerce Ltd. to Report Q1, 2025 Results on May 28, 2025 EMERGE Commerce Ltd. announced that they will report Q1, 2025 results Pre-Market on May 28, 2025 Announcement • May 02
EMERGE Commerce Ltd., Annual General Meeting, Jun 30, 2025 EMERGE Commerce Ltd., Annual General Meeting, Jun 30, 2025. Announcement • Apr 23
EMERGE Commerce Ltd. to Report Q4, 2024 Results on Apr 28, 2025 EMERGE Commerce Ltd. announced that they will report Q4, 2024 results at 9:30 AM, US Eastern Standard Time on Apr 28, 2025 Reported Earnings • Nov 28
Third quarter 2024 earnings released: CA$0.006 loss per share (vs CA$0.004 loss in 3Q 2023) Third quarter 2024 results: CA$0.006 loss per share (further deteriorated from CA$0.004 loss in 3Q 2023). Revenue: CA$4.60m (down 16% from 3Q 2023). Net loss: CA$738.9k (loss widened 42% from 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has fallen by 61% per year, which means it is performing significantly worse than earnings. New Risk • Nov 14
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 Canadian stocks, typically moving 18% 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 Share price has been highly volatile over the past 3 months (18% average weekly change). Negative equity (-CA$9.0m). Earnings have declined by 42% per year over the past 5 years. Market cap is less than US$10m (CA$4.87m market cap, or US$3.46m). Minor Risk Shareholders have been diluted in the past year (13% increase in shares outstanding). Announcement • Nov 05
EMERGE Commerce Ltd. to Report Q3, 2024 Results on Nov 28, 2024 EMERGE Commerce Ltd. announced that they will report Q3, 2024 results Pre-Market on Nov 28, 2024 Reported Earnings • Aug 28
Second quarter 2024 earnings released: CA$0.005 loss per share (vs CA$0.015 loss in 2Q 2023) Second quarter 2024 results: CA$0.005 loss per share (improved from CA$0.015 loss in 2Q 2023). Revenue: CA$5.19m (up 1.0% from 2Q 2023). Net loss: CA$663.4k (loss narrowed 57% from 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has fallen by 57% per year, which means it is performing significantly worse than earnings. Announcement • Aug 14
EMERGE Commerce Ltd. to Report Q2, 2024 Results on Aug 27, 2024 EMERGE Commerce Ltd. announced that they will report Q2, 2024 results Pre-Market on Aug 27, 2024 Reported Earnings • May 29
First quarter 2024 earnings released: EPS: CA$0 (vs CA$0.02 loss in 1Q 2023) First quarter 2024 results: EPS: CA$0 (improved from CA$0.02 loss in 1Q 2023). Revenue: CA$5.01m (down 29% from 1Q 2023). Net income: CA$9.4k (up CA$2.12m from 1Q 2023). Profit margin: 0.2% (up from net loss in 1Q 2023). Announcement • May 24
EMERGE Commerce Ltd. to Report Q1, 2024 Results on May 28, 2024 EMERGE Commerce Ltd. announced that they will report Q1, 2024 results Pre-Market on May 28, 2024 Announcement • Apr 30
Emerge Commerce Ltd. Announces Impairment Charges for the Three Months Ended December 31, 2023 EMERGE Commerce Ltd. announced impairment charges for the three months ended December 31, 2023. For the quarter, the company reported Impairment of goodwill of $16,683,066 against $11,071,467 a year ago. Reported Earnings • Apr 30
Full year 2023 earnings released: CA$0.20 loss per share (vs CA$0.17 loss in FY 2022) Full year 2023 results: CA$0.20 loss per share (further deteriorated from CA$0.17 loss in FY 2022). Revenue: CA$23.8m (down 59% from FY 2022). Net loss: CA$21.7m (loss widened 25% from FY 2022). Reported Earnings • Aug 31
Second quarter 2023 earnings released: CA$0.015 loss per share (vs CA$0.008 loss in 2Q 2022) Second quarter 2023 results: CA$0.015 loss per share (further deteriorated from CA$0.008 loss in 2Q 2022). Revenue: CA$6.17m (down 59% from 2Q 2022). Net loss: CA$1.65m (loss widened 101% from 2Q 2022). Revenue is expected to decline by 22% p.a. on average during the next 2 years, while revenues in the IT industry in Canada are expected to grow by 5.2%. New Risk • Aug 28
New major risk - Revenue and earnings growth Earnings have declined by 46% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (19% average weekly change). Earnings have declined by 46% per year over the past 5 years. Market cap is less than US$10m (CA$4.33m market cap, or US$3.18m). Minor Risk Shareholders have been diluted in the past year (19% increase in shares outstanding). New Risk • Aug 26
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 Canadian stocks, typically moving 19% 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 Share price has been highly volatile over the past 3 months (19% average weekly change). Market cap is less than US$10m (CA$4.33m market cap, or US$3.18m). Minor Risks Currently unprofitable and not forecast to become profitable next year (CA$7.7m net loss next year). Shareholders have been diluted in the past year (19% increase in shares outstanding). Announcement • Aug 16
Emerge Commerce Ltd. to Report Q2, 2023 Results on Aug 28, 2023 Emerge Commerce Ltd. announced that they will report Q2, 2023 results After-Market on Aug 28, 2023 Announcement • Jul 23
Emerge Commerce Ltd. announced that it has received CAD 0.748 million in funding Emerge Commerce Ltd. announced a private placement and issued 14,960,000 units at a price of CAD 0.05 per unit for gross proceeds of CAD 748,000 on July 21, 2023. Each unit consists of one common share and one common share purchase warrant. Each warrant is exercisable to purchase one common share at a price of CAD 0.10 per common share until July 21, 2025. The company paid a cash finder's fees of CAD 5,000 in connection with the closing of the offering. All securities issued pursuant to the offering are subject to a statutory hold period of four months from the date of issuance, expiring November 22, 2023, in accordance with applicable securities laws. The Company has received conditional approval from the TSX Venture Exchange for the offering but has yet to receive final approval. Major Estimate Revision • Jun 05
Consensus revenue estimates decrease by 12%, EPS upgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from CA$34.2m to CA$30.0m. EPS estimate increased from -CA$0.085 to -CA$0.08 per share. IT industry in Canada expected to see average net income growth of 14% next year. Consensus price target of CA$0.17 unchanged from last update. Share price fell 7.1% to CA$0.065 over the past week. Reported Earnings • May 31
First quarter 2023 earnings: EPS in line with expectations, revenues disappoint First quarter 2023 results: CA$0.02 loss per share (improved from CA$0.027 loss in 1Q 2022). Revenue: CA$7.02m (down 56% from 1Q 2022). Net loss: CA$2.11m (loss narrowed 25% from 1Q 2022). Revenue is expected to decline by 25% p.a. on average during the next 2 years, while revenues in the IT industry in Canada are expected to grow by 5.3%. Announcement • May 19
Emerge Commerce Ltd. to Report Q1, 2023 Results on May 29, 2023 Emerge Commerce Ltd. announced that they will report Q1, 2023 results After-Market on May 29, 2023 Price Target Changed • Apr 30
Price target decreased by 47% to CA$0.17 Down from CA$0.32, the current price target is an average from 2 analysts. New target price is 127% above last closing price of CA$0.075. Stock is down 81% over the past year. The company is forecast to post a net loss per share of CA$0.075 next year compared to a net loss per share of CA$0.17 last year. Reported Earnings • Apr 29
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: CA$0.17 loss per share (further deteriorated from CA$0.069 loss in FY 2021). Revenue: CA$58.2m (up 67% from FY 2021). Net loss: CA$17.4m (loss widened 165% from FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Announcement • Feb 01
Emerge Commerce Ltd. Provides Revenue Guidance for the Fourth Quarter and Full Year 2022 Emerge Commerce Ltd. provided revenue guidance for the fourth quarter and full year 2022. For the fourth quarter, the company's revenue expected to be between $15.0 million and $15.5 million, compared to revenue of $14.9 million in fourth quarter of 2021.For full year 2022, revenue is expected be between $57.9 million and $58.4 million, compared to $34.8 million in 2021, representing YoY growth of over 66%, and an increase of approximately 60% compared to 2019 pre-pandemic pro forma revenue. Reported Earnings • Dec 01
Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2022 results: EPS: CA$0.017 (up from CA$0.011 loss in 3Q 2021). Revenue: CA$12.1m (up 100% from 3Q 2021). Net income: CA$1.77m (up CA$2.87m from 3Q 2021). Profit margin: 15% (up from net loss in 3Q 2021). Revenue missed analyst estimates by 16%. Earnings per share (EPS) exceeded analyst estimates. Revenue is forecast to grow 3.4% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Online Retail industry in Canada. Announcement • Nov 25
Emerge Commerce Ltd. has completed a Composite Units Offering in the amount of CAD 4 million. Emerge Commerce Ltd. has completed a Composite Units Offering in the amount of CAD 4 million.
Security Name: Debenture Units
Security Type: Debt/Equity Composite Units
Securities Offered: 4,000
Price\Range: CAD 1000
Discount Per Security: CAD 80
Principal Amount: CAD 1000 Announcement • Nov 24
Emerge Commerce Ltd. to Report Q3, 2022 Results on Nov 29, 2022 Emerge Commerce Ltd. announced that they will report Q3, 2022 results Pre-Market on Nov 29, 2022 Board Change • Nov 16
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. No experienced directors. No highly experienced directors. Independent Director Jonson Sun is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Aug 25
Second quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2022 results: CA$0.008 loss per share (up from CA$0.025 loss in 2Q 2021). Revenue: CA$15.1m (up 120% from 2Q 2021). Net loss: CA$820.8k (loss narrowed 63% from 2Q 2021). Revenue missed analyst estimates by 5.3%. Earnings per share (EPS) exceeded analyst estimates by 33%. Over the next year, revenue is forecast to grow 30%, compared to a 18% growth forecast for the Online Retail industry in Canada. Announcement • Aug 18
Emerge Commerce Ltd. to Report Q2, 2022 Results on Aug 25, 2022 Emerge Commerce Ltd. announced that they will report Q2, 2022 results Pre-Market on Aug 25, 2022 Announcement • Jun 30
Emerge Commerce Ltd. Elects Ian McKinnon as Director and Chairman of Compensation, Governance and Nominating Committee Emerge Commerce Ltd. announced that at its annual general meeting of shareholders held on June 28, 2022, approved the election of Ian McKinnon as Director and Chairman of Compensation, Governance and Nominating Committee. Announcement • Jun 18
Emerge Commerce Ltd. Announces Resignation of Nima Besharat as Director and Corporate Secretary Emerge Commerce Ltd. announced that Mr. Nima Besharat has resigned as Director and Corporate Secretary of the Company effective June 15, 2022. Major Estimate Revision • Jun 06
Consensus EPS estimates fall by 29% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from CA$64.6m to CA$63.9m. Losses expected to increase from CA$0.04 per share to CA$0.04. Online Retail industry in Canada expected to see average net income growth of 12% next year. Consensus price target down from CA$0.75 to CA$0.68. Share price rose 28% to CA$0.37 over the past week. Announcement • May 12
Emerge Commerce Ltd. to Report Q1, 2022 Results on May 30, 2022 Emerge Commerce Ltd. announced that they will report Q1, 2022 results Pre-Market on May 30, 2022 Price Target Changed • May 03
Price target decreased to CA$1.00 Down from CA$1.73, the current price target is an average from 2 analysts. New target price is 150% above last closing price of CA$0.40. Stock is down 64% over the past year. The company posted a net loss per share of CA$0.069 last year. Reported Earnings • May 03
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: CA$0.069 loss per share. Revenue: CA$34.8m (up 279% from FY 2020). Net loss: CA$6.56m (loss widened 48% from FY 2020). Revenue exceeded analyst estimates by 3.7%. Earnings per share (EPS) missed analyst estimates by 17%. Over the next year, revenue is forecast to grow 85%, compared to a 43% growth forecast for the retail industry in Canada. Board Change • Apr 27
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 6 new directors. No experienced directors. No highly experienced directors. 2 independent directors (4 non-independent directors). Corporate Secretary & Director Nima Besharat is the most experienced director on the board, commencing their role in 2020. Independent Chairman Drew Green was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Announcement • Apr 24
Emerge Commerce Ltd., Annual General Meeting, Jun 28, 2022 Emerge Commerce Ltd., Annual General Meeting, Jun 28, 2022. Announcement • Feb 10
Emerge Commerce Ltd. Provides Earnings Guidance for the Fourth Quarter Ended December 31, 2021 Emerge Commerce Ltd. provided earnings guidance for the fourth quarter ended December 31, 2021. Revenue is expected to be between $14.2 million and $14.8 million in fourth quarter 2021, an increase of over 491%, compared to $2.4 million fourth quarter 2020. Reported Earnings • Dec 01
Third quarter 2021 earnings: Revenues miss analyst expectations Third quarter 2021 results: Revenue: CA$6.06m (up 172% from 3Q 2020). Net loss: CA$1.10m (loss narrowed 15% from 3Q 2020). Revenue missed analyst estimates by 11%. Over the next year, revenue is forecast to grow 154%, compared to a 19% growth forecast for the industry in Canada. Major Estimate Revision • Nov 30
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast fell from CA$37.0m to CA$33.2m. EPS estimate reaffirmed at -CA$0.06 per share. Online Retail industry in Canada expected to see average net income growth of 1.3% next year. Consensus price target down from CA$1.78 to CA$1.73. Share price was steady at CA$0.69 over the past week. Breakeven Date Change • Nov 26
No longer forecast to breakeven The 2 analysts covering Emerge Commerce no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of CA$1.39m in 2023. New consensus forecast suggests the company will make a loss of CA$53.0k in 2023. Announcement • Sep 01
Emerge Commerce Ltd. (TSXV:ECOM) agreed to acquire BattlBox, LLC for $19 million. Emerge Commerce Ltd. (TSXV:ECOM) agreed to acquire BattlBox, LLC for $19 million on August 30, 2021. Under the terms, $10.25 million paid in cash upon closing of the Transaction, $1.5 million in deferred cash consideration, which shall be payable in three equal installments of US$500,000 on the first, second and third year anniversaries of the closing of the Transaction and an earn-out of up to $7.2 million may be payable based on the overall operating performance of the BattlBox Group over three years, following the closing of the Transaction, with up to US$1.2 million in cash and US$1.2 million in common shares of EMERGE (the "Earn-Out Shares") in each year of the earn-out period. All Earn-Out Shares will be subject to a 180 day lock up and subject to such other terms, as may be required by the TSXV. The total purchase price is subject to customary working capital and tax adjustments. The Transaction is expected to be funded with cash on hand. BattlBox Group generated revenue of approximately US$23 million (unaudited) and Adjusted EBITDA of approximately US$3.3 million in the trailing twelve months ended May 31, 2021.The transaction is subject to customary closing conditions, including TSXV approval, receipt of certain third-party consents. The transaction is expected to close within the next 45 days. The acquisition is expected to be immediately accretive to EMERGE's EBITDA. Reported Earnings • Aug 31
Second quarter 2021 earnings released The company reported a decent second quarter result with improved revenues, although earnings and control over costs were weaker. Second quarter 2021 results: Revenue: CA$6.83m (up 182% from 2Q 2020). Net loss: CA$2.23m (down CA$2.73m from profit in 2Q 2020). Reported Earnings • Apr 24
Full year 2020 earnings released The company reported a solid full year result with improved revenues and control over costs, although losses increased. Full year 2020 results: Revenue: CA$9.20m (up 121% from FY 2019). Net loss: CA$4.43m (loss widened 45% from FY 2019). Announcement • Mar 18
Emerge Commerce Ltd. announced that it has received CAD 12.106598 million in funding On March 17, 2021, Emerge Commerce Ltd. (TSXV:ECOM) closed the transaction. The company received CAD 12,106,598 in the transaction and CAD 249,200 through the issuance to subscribers of 178,000 special warrants. The securities issued in connection with the transaction will be subject to a four month hold period from the date of issue or until the date a receipt is issued. Announcement • Feb 19
Emerge Commerce Ltd. announced that it expects to receive CAD 10 million in funding Emerge Commerce Ltd. (TSXV:ECOM) announced a private placement on a commercially reasonable best effort basis of special warrants for gross proceeds of CAD 10,000,000 on February 17, 2021. Each special warrant shall be exercisable for one common share in the capital of the company at no additional cost. The company will grant the agents an option exercisable in whole or in part, at any time up until 48 hours prior to the closing date, to increase the size of the offering by up to 15% of the number of the number of special warrants sold pursuant to the offering. The transaction is expected to close on or about the week of March 8, 2021. Announcement • Jan 06
Emerge Commerce Ltd. (TSXV:ECOM) acquired truLOCAL Inc. for CAD 18.2 million. Emerge Commerce Ltd. (TSXV:ECOM) acquired truLOCAL Inc. for CAD 18.2 million on December 31, 2020. The total consideration included an initial consideration payable by EMERGE consisted of the following: (i) CAD 6.5 million paid in cash upon closing of the transaction; and (ii) issuance of approximately 4.67 million common shares of EMERGE. Two years from the date of the transaction, EMERGE will pay deferred cash consideration of CAD 1.5 million so long as certain key employees, including Marc Lafleur, remain with truLOCAL. In addition, a contingent earn-out of up to CAD 4.5 million may be payable based on overall operating performance of truLOCAL over a two year period following closing, with up to CAD 1.5 million in cash in Year 1, and up to CAD 1.5 million cash and up to a maximum number of EMERGE shares issuable of 1.63 million in Year 2. All shares issued in relation to the transaction will be subject to restrictions from trading for 180 days from date of issuance. The transaction was funded with cash on hand and drawing the final CAD 3 million available from EMERGE's debt facility. truLOCAL generated revenue of approximately CAD 19.8 million (unaudited) in the twelve months ended December 31, 2020. The founding team of truLOCAL, led by Marc Lafleur and brand will remain in place. The transaction is expected to be immediately accretive to EMERGE's earnings.
Emerge Commerce Ltd. (TSXV:ECOM) completed the acquisition of truLOCAL Inc. on December 31, 2020. Announcement • Dec 17
Emerge Commerce Ltd. Announces Appointment of John Kim as Independent Director of the Board EMERGE Commerce Ltd. announced the appointment of Mr. John Kim to the Company's board of directors (the "Board"), effective December 7, 2020. Mr. Kim will serve as Chair of the Audit Committee. Mr. Kim currently sits on the Board of WELL Health Technologies Corp.