Announcement • Apr 12
VOXX International Corporation Files Form 15 VOXX International Corporation has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its Class A Common Stock under the Securities Exchange Act of 1934, as amended. The par value of the company's Class A Common Stock was $0.01 per share. Announcement • Feb 02
VOXX International Reports Receipt of Notice from Nasdaq Regarding Delayed Filing of Quarterly Report on Form 10-Q VOXX International Corporation announced that it received a notice dated January 28, 2025 from The Nasdaq Stock Market LLC, stating that because the Company has not yet filed its Quarterly Report on Form 10-Q for the period ended November 30, 2024, the Company is no longer in compliance with Nasdaq Listing Rule 5250(c)(1), which requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission ("SEC"). The Notice has no immediate effect on the listing of the Company's shares on Nasdaq. As previously reported in its Form 12b-25 filed with the SEC on January 10, 2025, the Company was not able to file its Quarterly Report on Form 10-Q for the period ended November 30, 2024 (the "Quarterly Report") within the prescribed time period. On December 17, 2024, the Company entered into an Agreement and Plan of Merger (the "Merger Agreement") with Gentex Corporation, a Michigan corporation ("Gentex"), and Instrument Merger Sub Inc., a Delaware corporation and wholly owned subsidiary of Gentex ("Merger Sub"), pursuant to which, on the terms and subject to the conditions of the Merger Agreement, Merger Sub will merge with and into the Company (the "Merger"), with the Company continuing as the surviving corporation and a wholly owned subsidiary of Gentex. As a result of entry into the Merger Agreement, in connection with its triggering events review, the Company determined that it was necessary to test its goodwill, other intangible assets, and other long-lived assets for impairment. Due to the time necessary to conduct the impairment test, the Company was unable to timely file the Quarterly Report. Under Nasdaq rules, the Company has 60 calendar days, or until March 31, 2025, to either file the Quarterly Report or to submit to Nasdaq a plan to regain compliance with the Nasdaq Listing Rule (the "Compliance Plan"). If the Company does not file the Quarterly Report but submits a Compliance Plan, and Nasdaq accepts the Compliance Plan, then Nasdaq may grant the Company up to 180 days from the prescribed due date, or until July 14, 2025, to file the Quarterly Report and regain compliance. If Nasdaq does not accept the Company's Compliance Plan, then the Company will have the opportunity to appeal that decision to a Nasdaq Hearings Panel. The Company intends to file the Quarterly Report within the 60-day period described above. Announcement • Jan 11
VOXX International Corporation announced delayed 10-Q filing On 01/10/2025, VOXX International Corporation announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Dec 19
Gentex Corporation (NasdaqGS:GNTX) entered into a definitive agreement to acquire remaining majority stake in VOXX International Corporation (NasdaqGS:VOXX) from SHALVOXX A HOLDCO LLC, SHALVOXX B HOLDCO LLC, Ari M. Shalam, David Shalam and Marc Shalam for an enterprise value of approximately $200 million. Gentex Corporation (NasdaqGS:GNTX) entered into a definitive agreement to acquire remaining majority stake in VOXX International Corporation (NasdaqGS:VOXX) from SHALVOXX A HOLDCO LLC, SHALVOXX B HOLDCO LLC, Ari M. Shalam, David Shalam and Marc Shalam for an enterprise value of approximately $200 million on December 17, 2024. Under the terms of the agreement, Gentex will acquire all the issued and outstanding shares of VOXX common stock not already owned by Gentex for a purchase price of $7.50 per share. The sell-side termination fee equates to $7.5 million. Based on initial estimates and expectations, Gentex expects an approximate pro-forma annual EBITDA contribution of $40 to $50 million as the result of the acquisition once the profitability improvement measures have been executed. In addition to the aforementioned, Gentex expects to have post-closing tax benefits of approximately $15 - $20 million pertaining to tax loss and tax credit carryforwards derived from the acquisition. The transaction is subject to the receipt of certain regulatory approvals, including under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The transaction was unanimously approved by board of directors of both Gentex and VOXX. The transaction is subject to the approval of VOXX's shareholders. The transaction is expected to close in first quarter of 2025.
Benjamin L. Stulberg and Ashley L. Gullett of Jones Day acted as legal advisor to Gentex. Acropolis Advisors acted as financial advisor to Board of Directors of Gentex. Solomon Partners Securities, LLC acted as financial advisor and fairness opinion provider to Transaction Committee and Board of Directors of VOXX. Bryan Cave Leighton Paisner LLP acted as legal advisor to VOXX. Larry Stopol of Stopol & Camelo, LLP acted as legal advisor to VOXX. Announcement • Oct 11
Aladdin Sane Realty, LLC acquired FL OEM Manufacturing Facility in Lake Nona, Florida from VOXX International Corporation (NasdaqGS:VOXX) for $20 million. Aladdin Sane Realty, LLC acquired FL OEM Manufacturing Facility in Lake Nona, Florida from VOXX International Corporation (NasdaqGS:VOXX) for $20 million on September 24, 2024.
Aladdin Sane Realty, LLC completed the acquisition of FL OEM Manufacturing Facility in Lake Nona, Florida from VOXX International Corporation (NasdaqGS:VOXX) on September 24, 2024. Reported Earnings • Oct 11
Second quarter 2025 earnings released: EPS: US$0.10 (vs US$0.47 loss in 2Q 2024) Second quarter 2025 results: EPS: US$0.10 (up from US$0.47 loss in 2Q 2024). Revenue: US$92.5m (down 19% from 2Q 2024). Net income: US$2.41m (up US$13.5m from 2Q 2024). Profit margin: 2.6% (up from net loss in 2Q 2024). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Announcement • Oct 03
VOXX International Corporation to Report Q2, 2025 Results on Oct 10, 2024 VOXX International Corporation announced that they will report Q2, 2025 results After-Market on Oct 10, 2024 Announcement • Aug 14
VOXX International Corporation Announces Changes to its Board of Directors VOXX International Corporation announced that its Board of Directors has unanimously elected Ari M. Shalam to Chairman of the Board of Directors. After nearly 65 years since the Company was founded, John J. Shalam, has stepped down from this position, becoming Chairman Emeritus. Both Ari Shalam and Beat Kahli were appointed Co-Vice Chairman in July 2022. Mr. Kahli will remain Vice Chairman of the Board, leading to ongoing continuity in corporate governance and Board oversight. Reported Earnings • Jul 11
First quarter 2025 earnings released: US$0.40 loss per share (vs US$0.45 loss in 1Q 2024) First quarter 2025 results: US$0.40 loss per share (improved from US$0.45 loss in 1Q 2024). Revenue: US$91.7m (down 18% from 1Q 2024). Net loss: US$9.27m (loss narrowed 14% from 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 31 percentage points per year, which is a significant difference in performance. Announcement • Jul 04
VOXX International Corporation to Report Q1, 2025 Results on Jul 10, 2024 VOXX International Corporation announced that they will report Q1, 2025 results After-Market on Jul 10, 2024 New Risk • Jul 01
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$23m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$23m free cash flow). Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 0.5% per year over the past 5 years. Minor Risk Market cap is less than US$100m (€66.5m market cap, or US$71.3m). Announcement • Jun 13
VOXX International Corporation, Annual General Meeting, Jul 23, 2024 VOXX International Corporation, Annual General Meeting, Jul 23, 2024. New Risk • Jun 12
New major risk - Revenue and earnings growth Earnings have declined by 0.5% 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 (12% average weekly change). Earnings have declined by 0.5% per year over the past 5 years. Minor Risks Less than 1 year of cash runway based on current free cash flow (-US$23m). Market cap is less than US$100m (€79.4m market cap, or US$85.5m). Reported Earnings • May 15
Full year 2024 earnings released: US$1.74 loss per share (vs US$1.18 loss in FY 2023) Full year 2024 results: US$1.74 loss per share (further deteriorated from US$1.18 loss in FY 2023). Revenue: US$468.9m (down 12% from FY 2023). Net loss: US$40.9m (loss widened 43% from FY 2023). Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance. Announcement • May 09
VOXX International Corporation to Report Q4, 2024 Results on May 14, 2024 VOXX International Corporation announced that they will report Q4, 2024 results at 4:00 PM, US Eastern Standard Time on May 14, 2024 Announcement • Mar 07
VOXX International Corporation Announces Executive and Board Changes In conjunction joint venture agreement between EyeLock Inc. and GalvanEyes Partners LLC to form BioCenturion, LLC, VOXX International Corporation announced that Beat Kahli has stepped down as President of VOXX but will continue to serve as co-Vice Chairman of the Company's Board of Directors. Further and as previously announced, effective March 1, 2024, Loriann Shelton assumed the role of Chief Financial Officer of VOXX, replacing Michael Stoehr, who served in this position for over 40 years. Mr. Stoehr will remain with the company as Senior Vice President and Treasurer and has stepped down from the Board as a Director. Additionally, Mr. Kahli will serve as Chairman of the Board and Chief Executive Officer of BioCenturion, enabling him to spend more time unlocking value in this new entity, while continuing to support VOXX and its shareholders at the Board level. Reported Earnings • Jan 10
Third quarter 2024 earnings released: EPS: US$0.082 (vs US$0.30 in 3Q 2023) Third quarter 2024 results: EPS: US$0.082 (down from US$0.30 in 3Q 2023). Revenue: US$135.3m (down 5.4% from 3Q 2023). Net income: US$1.91m (down 74% from 3Q 2023). Profit margin: 1.4% (down from 5.2% in 3Q 2023). Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance. Announcement • Jan 05
VOXX International Corporation to Report Q3, 2024 Results on Jan 09, 2024 VOXX International Corporation announced that they will report Q3, 2024 results After-Market on Jan 09, 2024 Reported Earnings • Oct 11
Second quarter 2024 earnings released: US$0.47 loss per share (vs US$0.42 loss in 2Q 2023) Second quarter 2024 results: US$0.47 loss per share (further deteriorated from US$0.42 loss in 2Q 2023). Revenue: US$113.6m (down 9.6% from 2Q 2023). Net loss: US$11.1m (loss widened 8.3% from 2Q 2023). Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 61 percentage points per year, which is a significant difference in performance. Announcement • Oct 06
VOXX International Corporation to Report Q2, 2024 Results on Oct 10, 2023 VOXX International Corporation announced that they will report Q2, 2024 results at 4:00 PM, US Eastern Standard Time on Oct 10, 2023 Announcement • Oct 05
Voxx International Corporation Announces Loriann Shelton Will Become Chief Financial Officer Effective March 1, 2024 VOXX International Corporation announced that Loriann Shelton, who currently serves as Senior Vice President and Chief Operating Officer, will also become Chief Financial Officer effective March 1, 2024. Ms. Shelton will also retain her current responsibilities as Chief Operating Officer. She will replace Michael Stoehr, Senior Vice President and Chief Financial Officer, who has admirably served as CFO for over 40 years. Mr. Stoehr will be staying with VOXX, but as of March 1, 2024, will transition to the role of Senior Vice President and Treasurer, continuing to support banking relationships, M&A activities, cash management, insurance and companywide product procurement. Announcement • Jul 22
United States District Court, Central District of California Issues an Order Granting Seaguard Electronics LLC’s Petition to Confirm the Arbitration Award Against VOXX International Corporation On July 18, 2023, Judge Fernando L. Aenlle-Rocha of the United States District Court, Central District of California, issued an order granting Seaguard Electronics LLC’s Petition to confirm the Arbitration Award against VOXX International Corporation (Company) in the amount of $39,444,745 and denied the Company’s Petition to vacate the Arbitration Award. The Company plans to file an appeal based on, among other possible grounds, that the underlying supply contract explicitly prohibited the award of punitive damages and further, that the Company was denied due process during the course of the Arbitration Hearing. The Company expects to file an appeal with the United States Court of Appeals for the Ninth Circuit. New Risk • Jul 12
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 German stocks, typically moving 11% 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 Risk Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risk Less than 1 year of cash runway based on current free cash flow (-US$14m). Reported Earnings • Jul 12
First quarter 2024 earnings released: US$0.45 loss per share (vs US$0.27 loss in 1Q 2023) First quarter 2024 results: US$0.45 loss per share (further deteriorated from US$0.27 loss in 1Q 2023). Revenue: US$111.9m (down 13% from 1Q 2023). Net loss: US$10.7m (loss widened 65% from 1Q 2023). Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Announcement • Jun 30
VOXX International Corporation to Report Q1, 2024 Results on Jul 10, 2023 VOXX International Corporation announced that they will report Q1, 2024 results After-Market on Jul 10, 2023 Announcement • Jun 10
VOXX International Corporation Announces Peter A. Lesser Not to Stand for Re-Election to its Board of Directors VOXX International Corporation disclosed that Peter A. Lesser, who has served on the company’s Board of Directors since 2003 will not stand for re-election at its 2023 annual meeting of stockholders. Reported Earnings • May 16
Full year 2023 earnings released: US$1.18 loss per share (vs US$0.92 loss in FY 2022) Full year 2023 results: US$1.18 loss per share (further deteriorated from US$0.92 loss in FY 2022). Revenue: US$534.0m (down 16% from FY 2022). Net loss: US$28.6m (loss widened 28% from FY 2022). Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 33% per year, which means it is well ahead of earnings. Announcement • May 11
VOXX International Corporation, Annual General Meeting, Jul 20, 2023 VOXX International Corporation, Annual General Meeting, Jul 20, 2023. Announcement • Feb 08
VOXX International Corporation Appoints Beat Kahli as Its New President VOXX International Corporation announced that Beat Kahli, Co-Vice Chairman of the Board and VOXX's largest shareholder, has been appointed President. Mr. Kahli's appointment is effective immediately and he will be based at the Company's headquarters in Orlando, Florida, where Mr. Lavelle is also based. Over the coming year, he will work closely with executive leadership and employees around the world, to gain a better understanding of VOXX's operations, brand heritage, products, customer base, supply partners, distribution, R&D capabilities and more. He will continue to work closely with the Board, along with business heads on strategy, organizational plans and policies, and co-share responsibilities for budgeting, reporting, auditing, and financial oversight. He will continue to serve as Co-Vice Chairman and member of the Board of Directors. Beat Kahli is a seasoned entrepreneur with decades of experience investing in and building successful businesses, with a focus on real estate and related businesses. He currently serves as the founder and CEO of Avalon Park Group, a diversified group of companies based in Orlando (U.S.) and Zurich (Switzerland). He also serves as the CEO and as a member of the Board of Directors of sitEX Properties Holding AG, an owner managed real estate company, and as a Managing Member of GalvanEyes LLC, a distribution partner of the EyeLock, LLC. Mr. Kahli currently serves on the board of directors of Advent Health Orlando, one of the largest non-profit health systems in the U.S., and previously served on the boards of many community-not-for-profit organizations, including the Red Cross of Florida, the Central Florida YMCA, the University of Central Florida's Health and Public Affairs and the Florida Hospital Orlando. Recent Insider Transactions • Feb 03
Independent Director recently bought €82k worth of stock On the 31st of January, Peter Lesser bought around 9k shares on-market at roughly €9.69 per share. This transaction amounted to 85% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth €150k. Insiders have collectively bought €2.2m more in shares than they have sold in the last 12 months. Announcement • Jan 14
VOXX International Corporation Provides Earnings Guidance for the Fourth Quarter of 2023 VOXX International Corporation provided earnings guidance for the fourth quarter of 2023. The company expects a tough fourth quarter but to be profitable, and the company expects improved performance in fiscal '24 based on fiscal '23 comparable and due to OEM and Onkyo and PIONEER[p contributions. Reported Earnings • Jan 10
Third quarter 2023 earnings released: EPS: US$0.30 (vs US$1.16 loss in 3Q 2022) Third quarter 2023 results: EPS: US$0.30 (up from US$1.16 loss in 3Q 2022). Revenue: US$143.1m (down 25% from 3Q 2022). Net income: US$7.42m (up US$35.5m from 3Q 2022). Profit margin: 5.2% (up from net loss in 3Q 2022). Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 04
VOXX International Corporation to Report Q3, 2023 Results on Jan 09, 2023 VOXX International Corporation announced that they will report Q3, 2023 results After-Market on Jan 09, 2023 Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 5 highly experienced directors. Independent Co-Vice Chairman Beat Kahli was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Nov 08
Independent Co-Vice Chairman recently bought €150k worth of stock On the 4th of November, Beat Kahli bought around 15k shares on-market at roughly €9.97 per share. This transaction amounted to 1.9% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth €191k. Beat has been a buyer over the last 12 months, purchasing a net total of €3.5m worth in shares. Recent Insider Transactions • Oct 18
Independent Co-Vice Chairman recently bought €115k worth of stock On the 14th of October, Beat Kahli bought around 16k shares on-market at roughly €7.13 per share. This transaction amounted to 2.5% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Beat has been a buyer over the last 12 months, purchasing a net total of €2.9m worth in shares. Reported Earnings • Oct 13
Second quarter 2023 earnings released: US$0.42 loss per share (vs US$0.013 profit in 2Q 2022) Second quarter 2023 results: US$0.42 loss per share (down from US$0.013 profit in 2Q 2022). Revenue: US$125.7m (down 12% from 2Q 2022). Net loss: US$10.2m (down US$10.5m from profit in 2Q 2022). Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 20% per year. Recent Insider Transactions • Jul 26
President recently bought €79k worth of stock On the 22nd of July, Patrick Lavelle bought around 10k shares on-market at roughly €7.94 per share. In the last 3 months, they made an even bigger purchase worth €96k. Patrick has been a buyer over the last 12 months, purchasing a net total of €303k worth in shares. Recent Insider Transactions • Jul 19
President recently bought €96k worth of stock On the 14th of July, Patrick Lavelle bought around 15k shares on-market at roughly €6.31 per share. This was the largest purchase by an insider in the last 3 months. Patrick has been a buyer over the last 12 months, purchasing a net total of €224k worth in shares. Reported Earnings • Jul 13
First quarter 2023 earnings released: US$0.27 loss per share (vs US$0.11 profit in 1Q 2022) First quarter 2023 results: US$0.27 loss per share (down from US$0.11 profit in 1Q 2022). Revenue: US$128.7m (down 6.1% from 1Q 2022). Net loss: US$6.53m (down 340% from profit in 1Q 2022). Over the next year, revenue is forecast to grow 7.7%, compared to a 4.4% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Announcement • Jun 08
VOXX International Corporation, Annual General Meeting, Jul 21, 2022 VOXX International Corporation, Annual General Meeting, Jul 21, 2022, at 10:00 US Eastern Standard Time. Agenda: To elect eight directors to serve until the 2023 Annual Meeting of Shareholders or until their successors are elected and qualified; and to consider and ratify the appointment of Grant Thornton LLP as the Company’s independent registered public accounting firm for the fiscal year ending February 28, 2023. Reported Earnings • May 17
Full year 2022 earnings released: US$0.92 loss per share (vs US$1.11 profit in FY 2021) Full year 2022 results: US$0.92 loss per share (down from US$1.11 profit in FY 2021). Revenue: US$635.9m (up 13% from FY 2021). Net loss: US$22.3m (down 183% from profit in FY 2021). Over the next year, revenue is forecast to grow 13%, compared to a 7.9% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Announcement • May 05
VOXX International Corporation to Report Q4, 2022 Results on May 16, 2022 VOXX International Corporation announced that they will report Q4, 2022 results After-Market on May 16, 2022 Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 5 highly experienced directors. Independent Director Beat Kahli was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Jan 21
Independent Director recently bought €292k worth of stock On the 14th of January, Beat Kahli bought around 32k shares on-market at roughly €9.08 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €1.7m more in shares than they have sold in the last 12 months. Reported Earnings • Jan 11
Third quarter 2022 earnings: Revenues exceed analyst expectations Third quarter 2022 results: Revenue: US$191.9m (down 4.6% from 3Q 2021). Net loss: US$28.1m (down 254% from profit in 3Q 2021). Revenue exceeded analyst estimates by 3.9%. Over the next year, revenue is forecast to grow 10%, compared to a 4.0% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improved over the past week After last week's 16% share price gain to €10.80, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 13x in the Consumer Durables industry in Germany. Total returns to shareholders of 147% over the past three years. Recent Insider Transactions • Nov 04
Independent Director recently bought €102k worth of stock On the 2nd of November, Beat Kahli bought around 10k shares on-market at roughly €10.25 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €921k more in shares than they have sold in the last 12 months. Recent Insider Transactions • Oct 22
Independent Director recently bought €96k worth of stock On the 20th of October, Beat Kahli bought around 10k shares on-market at roughly €9.63 per share. In the last 3 months, they made an even bigger purchase worth €148k. Insiders have collectively bought €725k more in shares than they have sold in the last 12 months. Reported Earnings • Oct 13
Second quarter 2022 earnings released: EPS US$0.013 (vs US$0.30 in 2Q 2021) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2022 results: Revenue: US$143.1m (up 12% from 2Q 2021). Net income: US$311.0k (down 96% from 2Q 2021). Profit margin: 0.2% (down from 5.7% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 21
Investor sentiment deteriorated over the past week After last week's 18% share price decline to US$8.20, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 13x in the Consumer Durables industry in Germany. Total returns to shareholders of 73% over the past three years. Recent Insider Transactions • Aug 13
Director recently bought €50k worth of stock On the 11th of August, Beat Kahli bought around 5k shares on-market at roughly €10.00 per share. In the last 3 months, they made an even bigger purchase worth €148k. Insiders have collectively bought €608k more in shares than they have sold in the last 12 months. Recent Insider Transactions • Jul 29
Insider recently bought €87k worth of stock On the 27th of July, Beat Kahli bought around 10k shares on-market at roughly €8.65 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €167k more in shares than they have sold in the last 12 months. Valuation Update With 7 Day Price Move • Jul 19
Investor sentiment deteriorated over the past week After last week's 22% share price decline to US$8.95, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 13x in the Consumer Durables industry in Germany. Total returns to shareholders of 92% over the past three years. Reported Earnings • Jul 15
First quarter 2022 earnings released: EPS US$0.11 (vs US$0.34 loss in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: US$137.1m (up 90% from 1Q 2021). Net income: US$2.72m (up US$11.0m from 1Q 2021). Profit margin: 2.0% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 15
Full year 2021 earnings released: EPS US$1.12 (vs US$1.08 loss in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: US$563.6m (up 43% from FY 2020). Net income: US$26.8m (up US$53.2m from FY 2020). Profit margin: 4.7% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 44% per year, which means it is well ahead of earnings. Announcement • May 14
VOXX International Corporation Announces Impairment Charges for the Fourth Quarter Ended February 28, 2021 VOXX International Corporation announced impairment charges for the fourth quarter ended February 28, 2021. For the quarter, the company reported intangible asset impairment charges of $1.3 million against $30.2 million a year ago. Announcement • May 01
VOXX International Corporation (NasdaqGS:VOXX) entered into basic agreement to acquire Home AV Business of Onkyo Home Entertainment Corporation. VOXX International Corporation (NasdaqGS:VOXX) entered into basic agreement to acquire Home AV Business of Onkyo Home Entertainment Corporation on April 29, 2021. After that, the approval of the transfer will be consulted at the Ordinary General Meeting of Shareholders scheduled to be held on June 25, 2021. The deal is expected to be completed by May 20, 2021. Is New 90 Day High Low • Feb 06
New 90-day high: €20.60 The company is up 130% from its price of €8.95 on 06 November 2020. The German market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 28% over the same period. Is New 90 Day High Low • Jan 14
New 90-day high: €17.50 The company is up 72% from its price of €10.20 on 15 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 16% over the same period. Reported Earnings • Jan 12
Third quarter 2021 earnings released: EPS US$0.75 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$201.1m (up 83% from 3Q 2020). Net income: US$18.3m (up US$15.8m from 3Q 2020). Profit margin: 9.1% (up from 2.2% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 31% per year, which means it is well ahead of earnings. Announcement • Jan 06
VOXX International Corporation to Report Q3, 2021 Results on Jan 11, 2021 VOXX International Corporation announced that they will report Q3, 2021 results After-Market on Jan 11, 2021 Is New 90 Day High Low • Oct 24
New 90-day high: €11.00 The company is up 91% from its price of €5.75 on 24 July 2020. The German market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 13% over the same period. Reported Earnings • Oct 14
First half earnings released Over the last 12 months the company has reported total losses of US$20.3m, with losses narrowing by 36% from the prior year. Total revenue was US$411.2m over the last 12 months, down 2.2% from the prior year. Recent Insider Transactions • Oct 07
Insider recently bought €81k worth of stock On the 2nd of October, Beat Kahli bought around 12k shares on-market at roughly €6.74 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €1.4m more in shares than they have sold in the last 12 months. Announcement • Oct 07
VOXX International Corporation to Report Q2, 2021 Results on Oct 13, 2020 VOXX International Corporation announced that they will report Q2, 2021 results on Oct 13, 2020 Is New 90 Day High Low • Oct 06
New 90-day high: €7.45 The company is up 52% from its price of €4.90 on 08 July 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 16% over the same period.