Price Target Changed • May 17
Price target decreased by 8.5% to CA$40.50 Down from CA$44.25, the current price target is an average from 4 analysts. New target price is 103% above last closing price of CA$19.91. Stock is down 60% over the past year. The company is forecast to post earnings per share of US$0.38 for next year compared to US$0.46 last year. Reported Earnings • May 06
First quarter 2026 earnings: EPS and revenues miss analyst expectations First quarter 2026 results: EPS: US$0.074 (down from US$0.081 in 1Q 2025). Revenue: US$208.3m (up 17% from 1Q 2025). Net income: US$19.0m (down 8.5% from 1Q 2025). Profit margin: 9.1% (down from 12% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) also missed analyst estimates by 30%. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Software industry in Canada. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Mar 10
Lumine Group Inc., Annual General Meeting, May 15, 2026 Lumine Group Inc., Annual General Meeting, May 15, 2026. Location: ontario, toronto Canada Reported Earnings • Mar 06
Full year 2025 earnings released Full year 2025 results: Net income: (up US$258.9m from FY 2024). Price Target Changed • Mar 05
Price target decreased by 13% to CA$43.50 Down from CA$49.75, the current price target is an average from 4 analysts. New target price is 67% above last closing price of CA$26.05. Stock is down 29% over the past year. The company is forecast to post earnings per share of US$0.45 for next year compared to US$0.38 last year. Valuation Update With 7 Day Price Move • Feb 26
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CA$22.25, the stock trades at a forward P/E ratio of 73x. Average forward P/E is 6x in the Software industry in Canada. Total loss to shareholders of 41% over the past year. Simply Wall St's valuation model estimates the intrinsic value at CA$29.17 per share. Announcement • Feb 14
Lumine Group Inc. (TSXV:LMN) completed the acquisition of Synchronoss Technologies, Inc. (NasdaqCM:SNCR). Lumine Group Inc. (TSXV:LMN) entered into a non-binding letter of intent to acquire Synchronoss Technologies, Inc. (NasdaqCM:SNCR) for approximately $120 million on August 24, 2025. Lumine Group agreed to acquire Synchronoss Technologies on December 3, 2025. A cash consideration valued at $9 per share will be paid by Lumine Group Inc. In case of termination of transaction, sell side will pay a termination fee of $7.75 million. Upon completion of the transaction, the Synchronoss’ common stock will no longer be listed on the Nasdaq Stock Market. The Company is expected to remain headquartered in Bridgewater, New Jersey.
The transaction is subject to approval of offer by target shareholders, board approval and approval by antitrust authorities. Both board unanimously approved the deal. Synchronoss stockholders voted to approve the transaction at the Company’s Special Meeting of Stockholders on February 12, 2026. The completion of the transaction is expected on February 13, 2026.
The team of Goodwin Procter LLP led by Mike Patrone, Josh Zachariah, Josh Eisenson, Amanda Gill, Stephanie Barbanell, Deb Birnbach, Paul Jin, Eram Khan, Sarah Bock, Jennifer Fay, Jacob Osborn, Steve Charkoudian, Jackie Klosek, Dan Karelitz and Brian Muhkerjee acted as legal advisor for Lumine Group Inc. Marc F. Dupre, Andrew Y. Luh and Keith J. Scherer of Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP acted as legal advisor for Synchronoss Technologies, Inc. Equiniti Trust Company, LLC and acted as transfer agent for Synchronoss Technologies, Inc. Innisfree M&A Incorporated acted as information agent for Synchronoss Technologies, Inc.
Lumine Group Inc. (TSXV:LMN) completed the acquisition of Synchronoss Technologies, Inc. (NasdaqCM:SNCR) on February 13, 2026. Buy Or Sell Opportunity • Jan 27
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 30% to CA$23.19. The fair value is estimated to be CA$29.46, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 36% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 37% in 2 years. Earnings are forecast to decline by 34% in the next 2 years. Announcement • Dec 05
Lumine Group Inc. (TSXV:LMN) agreed to acquire Synchronoss Technologies, Inc. (NasdaqCM:SNCR) for $120 million. Lumine Group Inc. (TSXV:LMN) agreed to acquire Synchronoss Technologies, Inc. (NasdaqCM:SNCR) for $120 million on December 3, 2025. A cash consideration valued at $9 per share will be paid by Lumine Group Inc. In case of termination of transaction, seller will pay a termination fee of $7.75 million.
The transaction is subject to approval of offer by target shareholders and approval by anti-trust authorities. The expected completion of the transaction is June 1, 2026.
Goodwin Procter LLP acted as legal advisor for Lumine Group Inc. Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP acted as legal advisor for Synchronoss Technologies, Inc. Valuation Update With 7 Day Price Move • Nov 27
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to CA$30.92, the stock trades at a forward P/E ratio of 99x. Average forward P/E is 5x in the Software industry in Canada. Total loss to shareholders of 26% over the past year. Simply Wall St's valuation model estimates the intrinsic value at CA$30.50 per share. New Risk • Nov 19
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 18% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • Nov 13
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 49% to CA$25.15. The fair value is estimated to be CA$32.28, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 36% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 42% in 2 years. Earnings are forecast to grow by 22% in the next 2 years. Valuation Update With 7 Day Price Move • Nov 11
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CA$27.30, the stock trades at a forward P/E ratio of 50x. Average forward P/E is 11x in the Software industry in Canada. Total loss to shareholders of 32% over the past year. Simply Wall St's valuation model estimates the intrinsic value at CA$32.18 per share. Price Target Changed • Nov 05
Price target decreased by 8.1% to CA$54.50 Down from CA$59.33, the current price target is an average from 4 analysts. New target price is 82% above last closing price of CA$29.87. Stock is down 22% over the past year. The company is forecast to post earnings per share of US$0.36 next year compared to a net loss per share of US$1.21 last year. Reported Earnings • Nov 04
Third quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2025 results: EPS: US$0.097 (up from US$0.071 in 3Q 2024). Revenue: US$186.7m (up 5.3% from 3Q 2024). Net income: US$24.8m (up 36% from 3Q 2024). Profit margin: 13% (up from 10% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.0%. Earnings per share (EPS) exceeded analyst estimates by 12%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Software industry in Canada. Buy Or Sell Opportunity • Sep 30
Now 21% overvalued Over the last 90 days, the stock has fallen 16% to CA$41.04. The fair value is estimated to be CA$34.03, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue is forecast to grow by 39% in 2 years. Earnings are forecast to grow by 24% in the next 2 years. Price Target Changed • Aug 05
Price target increased by 13% to CA$59.33 Up from CA$52.67, the current price target is an average from 3 analysts. New target price is 12% above last closing price of CA$53.00. Stock is up 49% over the past year. The company is forecast to post earnings per share of US$0.36 next year compared to a net loss per share of US$1.21 last year. Reported Earnings • Aug 03
Second quarter 2025 earnings: Revenues and EPS in line with analyst expectations Second quarter 2025 results: EPS: US$0.092 (up from US$0.009 loss in 2Q 2024). Revenue: US$184.0m (up 13% from 2Q 2024). Net income: US$23.6m (up US$25.8m from 2Q 2024). Profit margin: 13% (up from net loss in 2Q 2024). The move to profitability was primarily driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Software industry in Canada. Price Target Changed • May 02
Price target increased by 7.0% to CA$50.67 Up from CA$47.33, the current price target is an average from 3 analysts. New target price is 14% above last closing price of CA$44.35. Stock is up 17% over the past year. The company is forecast to post earnings per share of US$0.36 next year compared to a net loss per share of US$1.21 last year. Announcement • Apr 02
Lumine Group Inc. (TSXV:LMN) completed the acquisition of Assets related to the Vidispine brand and business from Arvato Systems GmbH. Lumine Group Inc. (TSXV:LMN) entered into an agreement to acquire Assets related to the Vidispine brand and business from Arvato Systems GmbH on January 23, 2025.
Lumine Group Inc. (TSXV:LMN) completed the acquisition of Assets related to the Vidispine brand and business from Arvato Systems GmbH on April 1, 2025. Announcement • Mar 11
Lumine Group Inc., Annual General Meeting, May 13, 2025 Lumine Group Inc., Annual General Meeting, May 13, 2025. Reported Earnings • Mar 07
Full year 2024 earnings released: US$1.21 loss per share (vs US$38.98 loss in FY 2023) Full year 2024 results: US$1.21 loss per share (improved from US$38.98 loss in FY 2023). Revenue: US$668.4m (up 34% from FY 2023). Net loss: US$258.9m (loss narrowed 91% from FY 2023). Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Software industry in Canada. Price Target Changed • Feb 18
Price target increased by 22% to CA$47.00 Up from CA$38.50, the current price target is provided by 1 analyst. New target price is 20% above last closing price of CA$39.05. Stock is up 14% over the past year. The company posted a net loss per share of US$38.98 last year. Announcement • Feb 15
Lumine Group Inc. Announces Return of David Nyland as CEO from Temporary Leave of Absence, Effective February 17, 2025 Lumine Group Inc. announced that David Nyland is returning from his temporary leave of absence and will reassume his duties as Chief Executive Officer of Lumine Group, effective February 17, 2025. Tony Garcia, who has served as interim Chief Executive Officer, will continue in his position as Group President. Announcement • Jan 24
Lumine Group Inc. (TSXV:LMN) entered into an agreement to acquire Assets related to the Vidispine brand and business from Arvato Systems GmbH. Lumine Group Inc. (TSXV:LMN) entered into an agreement to acquire Assets related to the Vidispine brand and business from Arvato Systems GmbH on January 23, 2025. Announcement • Jan 12
Lumine Group Inc. Announces Board Changes Lumine Group Inc. announced the resignation of Robin van Poelje from, and the appointment of Laurie Schultz to, Lumine Group’s Board of Directors (“Board”). Ms. Schultz has over thirty years of experience in the software and technology sectors, including leadership of several multi-million dollar software businesses spanning the personal finance, small business accounting, SaaS, mid-market ERP, and GRC categories. Ms. Schultz has been a member of the board of directors at Constellation Software since November 2021. She served as the President and CEO of Galvanize from 2011 until it was sold in 2021. Starting in 1999, she held several executive positions at Intuit and Sage including serving as SVP and GM at Sage’s Mid-Market ERP business group from 2007 until 2011. Ms. Schultz was a Senior Manager at KPMG from 1996 until 1999 and was a Senior Manager at Telus Communications from 1989 until 1996. Ms. Schultz holds a Bachelor of Commerce and an MBA from the University of Alberta. Announcement • Jan 03
Lumine Group Inc. Announces Temporary Leave of Absence and Appointment of Interim CEO Lumine Group Inc. announced that David Nyland is taking a temporary leave of absence, effective immediately. Tony Garcia, Group President, has been appointed as Interim CEO in Mr. Nyland's absence. Mr. Garcia has been with Lumine Group since 2017 and has played an instrumental role in the company's group operations and M&A activities. Price Target Changed • Nov 04
Price target increased by 9.2% to CA$41.50 Up from CA$38.00, the current price target is an average from 2 analysts. New target price is 9.2% above last closing price of CA$38.00. Stock is up 91% over the past year. The company posted a net loss per share of US$38.98 last year. Reported Earnings • Nov 03
Third quarter 2024 earnings released: EPS: US$0.071 (vs US$2.42 loss in 3Q 2023) Third quarter 2024 results: EPS: US$0.071 (up from US$2.42 loss in 3Q 2023). Revenue: US$168.8m (up 28% from 3Q 2023). Net income: US$18.3m (up US$197.3m from 3Q 2023). Profit margin: 11% (up from net loss in 3Q 2023). The move to profitability was primarily driven by lower expenses. Revenue is forecast to grow 30% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Software industry in Canada. Buy Or Sell Opportunity • Sep 10
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 1.1% to CA$36.21. The fair value is estimated to be CA$29.05, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 61% over the last year. Meanwhile, the company became loss making. Reported Earnings • Aug 08
Second quarter 2024 earnings released: US$0.009 loss per share (vs US$6.62 loss in 2Q 2023) Second quarter 2024 results: US$0.009 loss per share (improved from US$6.62 loss in 2Q 2023). Revenue: US$162.8m (up 25% from 2Q 2023). Net loss: US$2.24m (loss narrowed 100% from 2Q 2023). Revenue is forecast to grow 31% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Software industry in Canada. Reported Earnings • May 02
First quarter 2024 earnings released: US$3.53 loss per share (vs US$9.61 loss in 1Q 2023) First quarter 2024 results: US$3.53 loss per share (improved from US$9.61 loss in 1Q 2023). Revenue: US$141.1m (up 48% from 1Q 2023). Net loss: US$304.3m (loss narrowed 53% from 1Q 2023). Revenue is forecast to grow 30% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Software industry in Canada. Announcement • May 01
Lumine Group Inc. (TSXV:LMN) compeleted the acquisition of Axyom Cloud Native 5G Core Software & RAN Assets of Casa Systems, Inc Lumine Group Inc. (TSXV:LMN) entered into asset purchase agreement to acquire Axyom Cloud Native 5G Core Software & RAN Assets of Casa Systems, Inc on April 3, 2024. Casa Systems intends to facilitate the sale of its businesses, including the Assets, through a Chapter 11 process. Casa has engaged Sidley Austin LLP as legal counsel, Ducera Partners LLC as financial advisor, and Alvarez & Marsal North America, LLC as restructuring advisor.Lumine Group Inc. (TSXV:LMN) completed the acquisition of Axyom Cloud Native 5G Core Software & RAN Assets of Casa Systems, Inc on April 30, 2024. Announcement • Apr 04
Lumine Group Inc. (TSXV:LMN) entered into asset purchase agreement to acquire Axyom Cloud Native 5G Core Software & RAN Assets of Casa Systems, Inc. Lumine Group Inc. (TSXV:LMN) entered into asset purchase agreement to acquire Axyom Cloud Native 5G Core Software & RAN Assets of Casa Systems, Inc on April 3, 2024. Casa Systems intends to facilitate the sale of its businesses, including the Assets, through a Chapter 11 process. Casa has engaged Sidley Austin LLP as legal counsel, Ducera Partners LLC as financial advisor, and Alvarez & Marsal North America, LLC as restructuring advisor. Announcement • Apr 02
Lumine Group Inc. (TSXV:LMN) completed the acquisition of Device Management and Service Management Platform businesses of Nokia. Lumine Group Inc. (TSXV:LMN) entered into a definitive agreement to acquire Device Management and Service Management Platform businesses of Nokia for €185 million on December 20, 2023. The total purchase price of up to €185 million, which includes a contingent consideration of up to €35 million based on the performance of the business during the first year following close. Following the acquisition, Lumine Group will restore the Motive brand as the new corporate entity for the Device Management and Service Management Platform solutions as a stand-alone business unit within Lumine Group. Approximately 500 Nokia Device Management and Service Management Platform employees are expected to transfer to Lumine Group as part of the deal. Both companies will work closely together to ensure a smooth transition and business continuity. The transaction is subject to certain terms, conditions, and consultations with works council or other employee representative bodies where required by law and deal is expected to close in the first quarter of 2024. Eduardo Gallardo, Jon Kubek from Paul Hastings LLP acted as legal advisors to Nokia Oyj (HLSE:NOKIA) in the transaction.Lumine Group Inc. (TSXV:LMN) completed the acquisition of Device Management and Service Management Platform businesses of Nokia on April 1, 2024. New Risk • Mar 26
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 256% This is considered a major 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. This is currently the only risk that has been identified for the company. Announcement • Mar 10
Lumine Group Inc., Annual General Meeting, May 13, 2024 Lumine Group Inc., Annual General Meeting, May 13, 2024. Reported Earnings • Mar 05
Full year 2023 earnings released Full year 2023 results: Revenue: US$499.7m (up 95% from FY 2022). Net loss: US$2.83b (down US$2.85b from profit in FY 2022). Revenue is forecast to grow 31% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Software industry in Canada. Reported Earnings • Nov 03
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: US$131.3m (up 99% from 3Q 2022). Net loss: US$179.0m (down US$190.8m from profit in 3Q 2022). Announcement • Nov 02
Lumine Group Inc. (TSXV:LMN) acquired SPATIALinfo, Inc., Razorsight Corporation and Openwave Messaging, Inc. from Synchronoss Technologies, Inc. (NasdaqCM:SNCR). Lumine Group Inc. (TSXV:LMN) acquired SPATIALinfo, Inc., Razorsight Corporation and Openwave Messaging, Inc. from Synchronoss Technologies, Inc. (NasdaqCM:SNCR) on November 1, 2023. Following the acquisition, Lumine Group will restore the brands to operate as three autonomous business units.Lumine Group Inc. (TSXV:LMN) acquired SPATIALinfo, Inc., Razorsight Corporation and Openwave Messaging, Inc. from Synchronoss Technologies, Inc. (NasdaqCM:SNCR) on November 1, 2023. Reported Earnings • Aug 07
Second quarter 2023 earnings released Second quarter 2023 results: US$6.62 loss per share. Revenue: US$129.9m (up 97% from 2Q 2022). Net loss: US$489.6m (down US$501.4m from profit in 2Q 2022).