Major Estimate Revision • Aug 24
Consensus EPS estimates fall by 47% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from US$67.7m to US$65.1m. Losses expected to increase from US$0.58 per share to US$0.85. Interactive Media and Services industry in the US expected to see average net income growth of 5.8% next year. Consensus price target down from US$1.25 to US$0.39. Share price was steady at US$0.39 over the past week. Reported Earnings • Aug 12
Second quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2022 results: US$0.33 loss per share (down from US$0.023 loss in 2Q 2021). Revenue: US$17.2m (down 8.2% from 2Q 2021). Net loss: US$4.45m (loss widened US$4.15m from 2Q 2021). Revenue exceeded analyst estimates by 10.0%. Earnings per share (EPS) missed analyst estimates by 200%. Over the next year, revenue is expected to shrink by 1.0% compared to a 9.8% growth forecast for the industry in the US. 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 45% per year, which means it is significantly lagging earnings. Announcement • Jul 26
One Planet Group, LLC entered into a definitive agreement to acquire AutoWeb, Inc. (NasdaqCM:AUTO) for $5.5 million. One Planet Group, LLC entered into a definitive agreement to acquire AutoWeb, Inc. (NasdaqCM:AUTO) for $5.5 million on July 24, 2022. As per the terms of the transaction, One Planet Group shall acquire AutoWeb at $0.39 per share. The deal is structured as a two-step merger, with the first step being a tender offer for all issued and outstanding shares of AutoWeb by the Purchaser and the second step being a merger in which any shares of AutoWeb that were not tendered in the tender offer would be converted into the right to receive the same cash price per share as stockholders who tendered in the tender offer. The parties have agreed to commence the tender offer by August 1, 2022. AutoWeb, Inc. shall become a wholly-owned subsidiary of One Planet Group and shall be delisted from The Nasdaq Capital Market. Payam Zamani, One Planet Group’s Chief Executive Officer, shall assume the role of President and Chief Executive Officer of AutoWeb, Inc., and Jared Rowe will transition out of the business. AutoWeb shall pay a termination fee of $1 million to One Planet and One Planet shall pay a termination fee of $250,000 to AutoWeb. The closing of the tender offer and acquisition are subject to at least one share more than 50% of all then outstanding AutoWeb Common Stock when added to the shares of AutoWeb Common Stock, if any, already owned by Parent or any of its subsidiaries shall have been validly tendered and not validly withdrawn and customary closing conditions. The acquisition, which has been approved by AutoWeb’s Board of Directors. The merger is expected to close by September 16, 2022. AutoWeb is represented in this transaction by its financial advisor, Houlihan Lokey, and its legal counsel, Matthew B. Dubeck of Gibson Dunn & Crutcher LLP. One Planet Group is represented by its legal counsel, Jodi Simala and William Kucera of Mayer Brown LLP. Announcement • Jul 02
AutoWeb Receives Non-Compliance Notice from Nasdaq On June 30, 2022, AutoWeb, Inc. (Company") received a written notification (Notice") from the Listing Qualifications department of the Nasdaq Stock Market LLC (NASDAQ") advising the Company that the closing bid price of the Company's common stock (Common Stock") for the previous 30 consecutive business days had been below the minimum $1.00 per share (Minimum Bid Price Requirement") required for continued listing on The Nasdaq Capital Market pursuant to NASDAQ Listing Rule 5550(a)(2) (Rule"). The Notice has no immediate effect on the listing of the Common Stock on The Nasdaq Capital Market. Pursuant to NASDAQ Listing Rule 5810(c)(3)(A), the Company has been provided an initial grace period of 180 calendar days, or until December 27, 2022, to regain compliance with the Minimum Bid Price Requirement. The Notice further provides that NASDAQ will provide written confirmation stating that the Company has achieved compliance with the Rule if at any time before December 27, 2022, the bid price of the Common Stock closes at $1.00 per share or more for a minimum of 10 consecutive business days. In the event that the Company does not regain compliance with the Rule prior to the expiration of the 180-day compliance period, the Company may be eligible for additional time to regain compliance pursuant to Nasdaq Listing Rule 5810(c)(3)(A)(ii) by meeting the continued listing requirement for market value of publicly held shares and all other applicable standards for initial listing on The Nasdaq Capital Market, with the exception of the Minimum Bid Price Requirement. In addition, the Company would need to provide written notice to NASDAQ of its intention to cure the Minimum Bid Price Requirement deficiency during the second compliance period by effecting a reverse stock split, if necessary. As part of its review process, NASDAQ staff will make a determination of whether it believes the Company will be able to cure this deficiency. If NASDAQ staff concludes that the Company will not be able to cure the deficiency, or should the Company determine not to make the required representation or the Company is not otherwise eligible for additional time to gain compliance, at that time NASDAQ staff will provide the Company a Staff Delisting Determination informing the Company that the Company's shares of Common Stock will be subject to immediate suspension and delisting unless the Company elects to appeal the delisting determination to a NASDAQ Hearings Panel. If the Company does not regain compliance within the allotted compliance period(s), including any extensions that may be granted by NASDAQ, or if the Common Stock has a closing bid price of $0.10 or less for ten consecutive trading days during any such compliance period(s), NASDAQ staff will issue a Staff Delisting Determination informing the Company that the Company's shares of Common Stock will be subject to immediate suspension and delisting unless the Company elects to appeal the delisting determination to a NASDAQ Hearings Panel. There can be no assurance that the Company will regain compliance with the Minimum Bid Price Requirement or maintain compliance with any of the other continued listing requirements to remain listed on The Nasdaq Capital Market. Announcement • Jun 26
AutoWeb, Inc.(NasdaqCM:AUTO) dropped from Russell 3000E Growth Index AutoWeb, Inc.(NasdaqCM:AUTO) dropped from Russell 3000E Growth Index Announcement • Jun 04
AutoWeb, Inc. Announces Board Changes AutoWeb, Inc. announced on May 27, 2022, Michael A. Carpenter notified the Chairman of the Board of Directors (“Board”) of the Company that, effective immediately, he was resigning his position as a member of the Board and as a member of the Board’s Audit Committee (“Audit Committee”). Mr. Carpenter was a member of the Board’s Audit Committee. Mr. Michael J. Fuchs has been appointed by the Board to serve as a member of the Audit Committee to replace Mr. Carpenter. Major Estimate Revision • May 23
Consensus revenue estimates fall by 23% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from US$85.8m to US$66.3m. Forecast losses increased from -US$0.67 to -US$0.85 per share. Interactive Media and Services industry in the US expected to see average net income growth of 4.1% next year. Consensus price target down from US$4.50 to US$1.38. Share price fell 74% to US$0.60 over the past week. Recent Insider Transactions • May 20
Insider recently sold US$767k worth of stock On the 17th of May, Daniel Negari sold around 908k shares on-market at roughly US$0.84 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$766k more than they bought in the last 12 months. Announcement • May 19
AutoWeb, Inc. Announces Resignation of Chan W. Galbato as Member of the Board On May 16, 2022, Chan W. Galbato notified the Chairman of AutoWeb, Inc.’s Board of Directors (Board) that, effective immediately, he was resigning his position as a member of the Board. Mr. Galbato was a member of the Board’s Audit Committee, Compensation Committee, and Corporate Governance and Nominations Committee. Reported Earnings • May 17
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: US$0.32 loss per share (down from US$0.024 profit in 1Q 2021). Revenue: US$19.1m (up 6.6% from 1Q 2021). Net loss: US$4.31m (down US$4.62m from profit in 1Q 2021). Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) missed analyst estimates by 88%. Over the next year, revenue is forecast to grow 22%, compared to a 15% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has fallen by 40% per year, which means it is significantly lagging earnings. Announcement • May 10
AutoWeb, Inc. to Report Q1, 2022 Results on May 16, 2022 AutoWeb, Inc. announced that they will report Q1, 2022 results on May 16, 2022 Price Target Changed • Apr 27
Price target decreased to US$4.50 Down from US$5.08, the current price target is an average from 3 analysts. New target price is 90% above last closing price of US$2.37. Stock is down 8.5% over the past year. The company is forecast to post a net loss per share of US$0.68 next year compared to a net loss per share of US$0.43 last year. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 4 highly experienced directors. Independent Director Chan Galbato was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 22
AutoWeb, Inc., Annual General Meeting, Jun 16, 2022 AutoWeb, Inc., Annual General Meeting, Jun 16, 2022, at 10:00 US Eastern Standard Time. Location: Company's principal executive offices at 400, North Ashley Drive, Suite 300, Tampa Florida United States Agenda: To elect one (1) Class III Director ( Election of Director Proposal"); to approve the AutoWeb, Inc. 2022 Equity Incentive Plan ( 2022 Equity Incentive Plan Proposal"); to ratify the appointment, by the Company's Audit Committee, of Moss Adams LLP as the Company's independent registered public accounting firm for 2022 ( Accounting Firm Ratification Proposal"); and to transact such other business as may properly come before the Annual Meeting and any adjournment or postponement thereof. Major Estimate Revision • Mar 31
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 expected loss increased from -US$0.55 to -US$0.67 per share. Revenue forecast unchanged at US$85.8m. Interactive Media and Services industry in the US expected to see average net income growth of 3.3% next year. Consensus price target down from US$5.08 to US$4.50. Share price fell 4.9% to US$2.31 over the past week. Announcement • Feb 08
AutoWeb, Inc. Appoints Scott Edwards as Senior Vice President, Digital Marketing Operations and Promotes Brett Nanigian as Senior Vice President, Product & Technology AutoWeb, Inc. has appointed Scott Edwards as senior vice president, digital marketing operations. In this new role, he will be responsible for creating, implementing and optimizing AutoWeb’s search engine marketing, digital marketing, lead operations and digital advertising solutions. Edwards’ appointment to the new position is effective February 7, 2022. He most recently served as vice president, product and growth marketing at Vokal, a digital and growth consultancy focused on the full product lifecycle from innovation to optimization and scale. AutoWeb has also promoted Brett Nanigian from his current role to senior vice president, product and technology. In addition to leading the Product and Engineering teams, he will take on leadership for the remaining Technology function within the company. Nanigian joined AutoWeb in 2019 as vice president, product. Price Target Changed • Jan 25
Price target increased to US$5.08 Up from US$4.69, the current price target is an average from 4 analysts. New target price is 72% above last closing price of US$2.95. Stock is down 9.0% over the past year. The company is forecast to post a net loss per share of US$0.42 next year compared to a net loss per share of US$0.52 last year. Reported Earnings • Nov 06
Third quarter 2021 earnings released: US$0.23 loss per share (vs US$0.034 loss in 3Q 2020) The company reported a poor third quarter result with increased losses, weaker revenues and weaker control over costs. Third quarter 2021 results: Revenue: US$17.2m (down 3.7% from 3Q 2020). Net loss: US$3.06m (loss widened US$2.61m from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Breakeven Date Change • Aug 12
Forecast to breakeven in 2023 The 4 analysts covering AutoWeb expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 49% per year to 2022. The company is expected to make a profit of US$2.96m in 2023. Average annual earnings growth of 65% is required to achieve expected profit on schedule. Reported Earnings • Aug 09
Second quarter 2021 earnings released: US$0.023 loss per share (vs US$0.10 loss in 2Q 2020) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: US$18.7m (up 10.0% from 2Q 2020). Net loss: US$304.0k (loss narrowed 78% from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 97% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Major Estimate Revision • Aug 07
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast increased from US$74.5m to US$77.8m. Forecast EPS reduced from -US$0.13 to -US$0.15 per share. Interactive Media and Services industry in the US expected to see average net income decline 1.8% next year. Consensus price target down from US$4.81 to US$4.56. Share price was steady at US$2.92 over the past week. Price Target Changed • Jun 02
Price target decreased to US$4.81 Down from US$5.81, the current price target is an average from 4 analysts. New target price is 76% above last closing price of US$2.74. Stock is up 130% over the past year. Major Estimate Revision • May 14
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast fell from US$76.7m to US$74.5m. 2021 losses expected to reduce from -US$0.21 to -US$0.13 per share. Interactive Media and Services industry in the US expected to see average net income growth of 0.07% next year. Consensus price target reaffirmed at US$5.81. Share price rose 5.6% to US$2.65 over the past week. Major Estimate Revision • May 13
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast fell from US$76.7m to US$74.6m. 2021 losses expected to reduce from -US$0.21 to -US$0.18 per share. Interactive Media and Services industry in the US expected to see average net income decline 10% next year. Consensus price target of US$5.75 unchanged from last update. Share price fell 15% to US$2.35 over the past week. Reported Earnings • May 08
First quarter 2021 earnings released: EPS US$0.02 (vs US$0.31 loss in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: US$17.9m (down 27% from 1Q 2020). Net income: US$310.0k (up US$4.37m from 1Q 2020). Profit margin: 1.7% (up from net loss in 1Q 2020). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Major Estimate Revision • Mar 19
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast fell from US$82.6m to US$76.7m. 2021 losses expected to reduce from -US$0.25 to -US$0.21 per share. Interactive Media and Services industry in the US expected to see average net income growth of 10% next year. Consensus price target up from US$5.56 to US$5.81. Share price rose 5.1% to US$3.10 over the past week. Reported Earnings • Mar 13
Full year 2020 earnings released: US$0.52 loss per share (vs US$1.17 loss in FY 2019) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2020 results: Revenue: US$76.6m (down 33% from FY 2019). Net loss: US$6.82m (loss narrowed 55% from FY 2019). Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Mar 13
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 0.3%. Earnings per share (EPS) missed analyst estimates by 9.3%. Over the next year, revenue is forecast to grow 7.8%, compared to a 26% growth forecast for the Interactive Media and Services industry in the US. Is New 90 Day High Low • Mar 05
New 90-day low: US$2.35 The company is down 17% from its price of US$2.83 on 04 December 2020. The American market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Interactive Media and Services industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$2.89 per share. Announcement • Feb 25
Autoweb, Inc. Designates Ms. Cheray L. Duran as Principal Accounting Officer The Audit Committee of the Board of Directors of AutoWeb, Inc. designated Ms. Cheray L. Duran as Principal Accounting Officer. Is New 90 Day High Low • Feb 10
New 90-day high: US$3.60 The company is up 53% from its price of US$2.36 on 11 November 2020. The American market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Interactive Media and Services industry, which is up 16% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$3.02 per share. Price Target Changed • Nov 15
Price target raised to US$5.38 Up from US$4.33, the current price target is an average from 4 analysts. The new target price is 127% above the current share price of US$2.37. As of last close, the stock is down 6.0% over the past year. Announcement • Nov 13
AutoWeb, Inc. Enhances Efficiencies and Ability to Match Car Shoppers with Its Product Offerings Using Motivemetrics’ Unique Linguistics Technology AutoWeb, Inc. has made significant advancements in its ability to match consumer search queries with its portfolio of marketing solutions while creating operational efficiencies that maximize the company’s investment in paid search marketing. The enhanced capabilities and performance metrics, enabled by AutoWeb’s collaboration with Palo Alto, Calif.-based MotiveMetrics, support the company’s transformational efforts by contemporizing and modernizing a foundational element of its business. Analyst Estimate Surprise Post Earnings • Nov 08
Revenue and earnings miss expectations Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 57%. Over the next year, revenue is forecast to grow 1.1%, compared to a 22% growth forecast for the Interactive Media and Services industry in the US. Reported Earnings • Nov 08
Third quarter 2020 earnings released: US$0.03 loss per share The company reported a decent third quarter result with reduced losses and improved control over expenses, although revenues were weaker. Third quarter 2020 results: Revenue: US$17.8m (down 38% from 3Q 2019). Net loss: US$448.0k (loss narrowed 74% from 3Q 2019). 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 34% per year, which means it is significantly lagging earnings. Price Target Changed • Nov 03
Price target lowered to US$4.33 Down from US$5.50, the current price target is an average from 4 analysts. The new target price is 32% above the current share price of US$3.28. As of last close, the stock is up 33% over the past year. Announcement • Oct 08
QuinStreet, Inc. and AutoWeb, Inc. Announce Strategic Relationship to Support Car Buyers QuinStreet, Inc. and AutoWeb, Inc. announced a strategic relationship to provide AutoWeb's visitors with access to QuinStreet's online car insurance search capabilities and solutions, enabling consumers to easily compare and shop for the best auto insurance policies for the cars they are interested in buying. The solutions leverage QuinStreet's best-in-class insurance information and provide car shoppers with real- and near-time access to insurance products to optimize the cost of car insurance. The companies plan to expand the relationship over time to include comparison shopping for loans, credit cards and other relevant products. Historically, car buyers have shopped online or in-person to research the best value on an auto purchase, then conducted an entirely separate research process to locate the best insurance coverage for that car. Failing to factor auto insurance into the cost of car ownership can result in overall expenses that are higher than expected. Insurance rates can vary greatly, based upon factors including a driver's ZIP Code, age, driving history and vehicle make and model. Now, prospective car buyers using AutoWeb digital properties can easily access QuinStreet's auto insurance marketplace products to research and compare options when they identify a vehicle of interest. Announcement • Sep 29
AutoWeb, Inc. to Report Q3, 2019 Results on Nov 07, 2019 AutoWeb, Inc. announced that they will report Q3, 2019 results at 5:00 PM, US Eastern Standard Time on Nov 07, 2019 Announcement • Jul 23
AutoWeb, Inc. to Report Q2, 2020 Results on Aug 05, 2020 AutoWeb, Inc. announced that they will report Q2, 2020 results at 9:05 PM, GMT Standard Time on Aug 05, 2020