Announcement • Jun 12
Otello Corporation ASA Approves Board and Committee Changes Otello Corporation ASA elected Jamie Sherman as chair of the Nomination Committee with a service period which expires simultaneously with the service period for the other Committee members. Consequently, the Nomination Committee consists of Jamie Sherman as chair and Simon Davies, Kari Stautland and Jakob Iqbal as members. Song Lin is elected as Board member with a service period which expires simultaneously with the service period for the other Board members. Consequently, the board consists of Frank Blaker, Silje Augustson and Song Lin. Announcement • Jan 02
Otello Corporation ASA, Annual General Meeting, Jun 03, 2025 Otello Corporation ASA, Annual General Meeting, Jun 03, 2025. Announcement • Jan 02
Otello Announces CEO Changes Otello CEO, Lars Boilesen has in an agreement with the Board of Directors decided to transition into an advisor role in Otello effective 31 December 2023. Lars has served Opera and Otello for over 20 years, first as head of sales, later as a Board member and ultimately as CEO from 2010. Jason Hoida, Otello´s General Counsel, will take over as CEO upon Lars´ transition. Jason has been an integral part of Otello´s leadership since 2009 and has worked closely with Lars on all aspects of the business including all major transactions. Announcement • Nov 29
Otello Corporation ASA Announces Resignation of Petter Lade as CFO Otello Corporation ASA announced that Petter Lade is stepping down as CFO. Petter Lade, who has been with the company since 2006 and been CFO since 2017, has given notice to take up a CFO position outside the company. He will continue in his current role until the end of December. Reported Earnings • Aug 20
First half 2023 earnings released: EPS: US$0.18 (vs US$0.049 in 1H 2022) First half 2023 results: EPS: US$0.18 (up from US$0.049 in 1H 2022). Net income: US$16.2m (up 245% from 1H 2022). Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Announcement • Aug 19
Otello Corporation ASA Announces Dividend Otello Corporation ASA announced a dividend of NOK 21 per share, paying out over 90% of total cash position. Recent Insider Transactions Derivative • Mar 26
Chief Financial Officer exercised options to buy kr534k worth of stock. On the 21st of March, Petter Lade exercised options to buy 67k shares at a strike price of around kr8.24, costing a total of kr551k. Since December 2022, Petter has not owned shares directly. Company insiders have collectively bought kr8.4m more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Jan 18
Otello Corporation ASA Announces Resignation of Maria Borge Andreassen as Board Member, Effective 1 May 2023 The Board of Otello Corporation ASA has received a notice of resignation from board member Maria Borge Andreassen. The reason for the resignation is that Borge Andreassen will take up a new position which, according to the rules of the new employer, is not compatible with continuing as director of Otello. She will resign effectively from 1 May 2023 and a replacement candidate will be presented by the Nomination Committee to the annual general meeting. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Director Karin Floistad was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Aug 02
Upcoming dividend of kr21.00 per share Eligible shareholders must have bought the stock before 09 August 2022. Payment date: 18 August 2022. Trailing yield: 74%. Within top quartile of Norwegian dividend payers (6.7%). Higher than average of industry peers (1.6%). Recent Insider Transactions • Jul 07
Director recently bought kr50k worth of stock On the 5th of July, Magdalena Kadziolka bought around 2k shares on-market at roughly kr25.93 per share. In the last 3 months, they made an even bigger purchase worth kr4.3m. Insiders have collectively bought kr16m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Jun 11
Director recently bought kr4.0m worth of stock On the 8th of June, Magdalena Kadziolka bought around 150k shares on-market at roughly kr26.80 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr11m more in shares than they have sold in the last 12 months. Breakeven Date Change • May 10
Forecast to breakeven in 2022 The analyst covering Otello expects the company to break even for the first time. New forecast suggests the company will make a profit of US$27.6m in 2022. Earnings growth of 115% is required to achieve expected profit on schedule. Price Target Changed • Apr 27
Price target increased to kr48.00 Up from kr40.00, the current price target is provided by 1 analyst. New target price is 78% above last closing price of kr27.00. Stock is down 16% over the past year. The company is forecast to post earnings per share of US$0.20 next year compared to a net loss per share of US$0.41 last year. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Director Song Lin was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Jan 26
Director recently bought kr2.0m worth of stock On the 21st of January, Anooj Unarket bought around 76k shares on-market at roughly kr26.37 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr7.2m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Jan 12
Director recently bought kr1.3m worth of stock On the 10th of January, Anooj Unarket bought around 50k shares on-market at roughly kr26.50 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr5.2m more in shares than they have sold in the last 12 months. Breakeven Date Change • Dec 31
Forecast breakeven date pushed back to 2022 The analyst covering Otello previously expected the company to break even in 2021. New forecast suggests the company will make a profit of US$27.7m in 2022. Average annual earnings growth of 147% is required to achieve expected profit on schedule. Recent Insider Transactions • Sep 24
Director recently bought kr3.1m worth of stock On the 17th of September, Anooj Unarket bought around 100k shares on-market at roughly kr31.46 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr3.8m more in shares than they have sold in the last 12 months. Reported Earnings • Apr 28
Full year 2020 earnings released: US$0.17 loss per share (vs US$0.17 loss in FY 2019) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2020 results: Revenue: US$259.0m (up 7.6% from FY 2019). Net loss: US$23.3m (loss narrowed 1.7% from FY 2019). Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Price Target Changed • Mar 03
Price target raised to kr48.00 Up from kr40.00, the current price target is provided by 1 analyst. The new target price is 48% above the current share price of kr32.40. As of last close, the stock is up 91% over the past year. Is New 90 Day High Low • Feb 26
New 90-day high: kr32.80 The company is up 50% from its price of kr21.80 on 27 November 2020. The Norwegian market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Media industry, which is up 11% over the same period. Price Target Changed • Feb 15
Price target lowered to kr40.00 Down from kr44.00, the current price target is provided by 1 analyst. The new target price is 55% above the current share price of kr25.80. As of last close, the stock is up 52% over the past year. Is New 90 Day High Low • Feb 05
New 90-day high: kr29.20 The company is up 50% from its price of kr19.45 on 06 November 2020. The Norwegian market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Media industry, which is up 20% over the same period. Recent Insider Transactions • Dec 24
Chairman recently bought kr300k worth of stock On the 22nd of December, André Christensen bought around 26k shares on-market at roughly kr11.35 per share. This was the largest purchase by an insider in the last 3 months. This was André's only on-market trade for the last 12 months. Is New 90 Day High Low • Dec 21
New 90-day high: kr25.90 The company is up 55% from its price of kr16.70 on 22 September 2020. The Norwegian market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Media industry, which is down 5.0% over the same period. Is New 90 Day High Low • Nov 16
New 90-day high: kr20.40 The company is up 36% from its price of kr14.95 on 18 August 2020. The Norwegian market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Media industry, which is up 17% over the same period. Reported Earnings • Oct 30
Third quarter earnings released Over the last 12 months the company has reported total losses of US$19.8m, with losses narrowing by 79% from the prior year. Total revenue was US$242.9m over the last 12 months, up 2.2% from the prior year. Analyst Estimate Surprise Post Earnings • Oct 30
Third-quarter earnings released: Revenue beats expectations Third-quarter revenue exceeded analyst estimates by 1.7% at US$62.3m. Revenue is forecast to grow 13% over the next year, compared to a 1.4% growth forecast for the Media industry in Norway. Is New 90 Day High Low • Oct 24
New 90-day high: kr19.10 The company is up 50% from its price of kr12.70 on 24 July 2020. The Norwegian market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Media industry, which is up 10.0% over the same period.