Announcement • Oct 31
Otonomo Technologies Ltd. Files Form 15 Otonomo Technologies Ltd. has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its Ordinary shares under the Securities Exchange Act of 1934, as amended. Reported Earnings • Aug 25
Second quarter 2023 earnings released: US$0.99 loss per share (vs US$6.84 loss in 2Q 2022) Second quarter 2023 results: US$0.99 loss per share (improved from US$6.84 loss in 2Q 2022). Net loss: US$9.53m (loss narrowed 85% from 2Q 2022). Reported Earnings • Jul 18
First quarter 2023 earnings released: US$0.11 loss per share (vs US$0.11 loss in 1Q 2022) First quarter 2023 results: US$0.11 loss per share (further deteriorated from US$0.11 loss in 1Q 2022). Net loss: US$15.8m (loss widened 12% from 1Q 2022). Announcement • Jun 21
Otonomo Technologies Ltd., Annual General Meeting, Jul 27, 2023 Otonomo Technologies Ltd., Annual General Meeting, Jul 27, 2023, at 13:00 Coordinated Universal Time. Location: Company’s executive offices at 16 Abba Eban Blvd Herzliya Pituach 467256, Israel Herzliya Pituach Israel Agenda: To approve a reverse share split of the Company’s ordinary shares, no par value (the “Ordinary Shares”), at a ratio in the range of 1-for-10 to 1-for-20, which final ratio shall be determined by the board of directors (the “Board”) of the Company or any committee thereof and to amend and restate the Company’s Amended and Restated Articles of Association accordingly, including reducing the Company’s authorized share capital by a corresponding proportion; to discuss approve and ratify the appointment of Somekh Chaikin, certified public accountants in Israel and a member of KPMG International, as the Company’s auditors for the year 2023 and for an additional period until the next Annual General Meeting; and to approve the re-election of Mr. Jonathan Huberman and Ms. Vered Raviv Schwarz to the Board until the end of the third annual general meeting held after the date of their re-appointment. New Risk • Jun 16
New major risk - Revenue and earnings growth Earnings have declined by 73% 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 Risk Earnings have declined by 73% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (6.9% increase in shares outstanding). Market cap is less than US$100m (US$55.7m market cap). Breakeven Date Change • Jun 15
Forecast to breakeven in 2025 The 2 analysts covering Otonomo Technologies expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of US$41.7m in 2025. Average annual earnings growth of 78% is required to achieve expected profit on schedule. Reported Earnings • May 18
First quarter 2023 earnings released First quarter 2023 results: US$0.12 loss per share. Net loss: US$17.1m (loss widened 13% from 1Q 2022). Revenue is forecast to grow 105% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Software industry in the US. Announcement • May 12
Otonomo Technologies Ltd. to Report Q1, 2023 Results on May 17, 2023 Otonomo Technologies Ltd. announced that they will report Q1, 2023 results Pre-Market on May 17, 2023 Price Target Changed • May 03
Price target increased by 38% to US$1.75 Up from US$1.27, the current price target is an average from 2 analysts. New target price is 260% above last closing price of US$0.49. The company is forecast to post a net loss per share of US$0.51 next year compared to a net loss per share of US$0.95 last year. Price Target Changed • Apr 05
Price target increased by 38% to US$1.75 Up from US$1.27, the current price target is an average from 2 analysts. New target price is 273% above last closing price of US$0.47. The company is forecast to post a net loss per share of US$0.51 next year compared to a net loss per share of US$0.95 last year. Reported Earnings • Apr 02
Full year 2022 earnings released: US$0.95 loss per share (vs US$0.45 loss in FY 2021) Full year 2022 results: US$0.95 loss per share (further deteriorated from US$0.45 loss in FY 2021). Net loss: US$131.1m (loss widened 324% from FY 2021). Revenue is forecast to grow 78% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Software industry in the US. Announcement • Feb 02
Otonomo Technologies Ltd. to Report Q4, 2022 Results on Feb 15, 2023 Otonomo Technologies Ltd. announced that they will report Q4, 2022 results Pre-Market on Feb 15, 2023 Breakeven Date Change • Dec 31
Forecast to breakeven in 2025 The 3 analysts covering Otonomo Technologies expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of US$41.7m in 2025. Average annual earnings growth of 60% is required to achieve expected profit on schedule. Announcement • Nov 17
Otonomo Reportedly in Talks to Merge with Wejo Two auto-tech companies, which began publicly trading after SPAC mergers last year, and have since lost most of their value, could be set for a merger. Otonomo Technologies Ltd. (NasdaqGM:OTMO) is in talks with its UK rival Wejo Group Limited (NasdaqGS:WEJO) about a possible merger, according to market sources. No comment on the matter has been received from Otonomo. Price Target Changed • Nov 16
Price target decreased to US$1.27 Down from US$1.70, the current price target is an average from 3 analysts. New target price is 245% above last closing price of US$0.37. Stock is down 91% over the past year. The company is forecast to post a net loss per share of US$0.93 next year compared to a net loss per share of US$0.45 last year. Announcement • Nov 01
Otonomo Technologies Ltd. to Report Q3, 2022 Results on Nov 16, 2022 Otonomo Technologies Ltd. announced that they will report Q3, 2022 results at 9:30 AM, US Eastern Standard Time on Nov 16, 2022 Announcement • Sep 09
Otonomo Technologies Ltd. Announces Resignation of Amit Karp as Member of Board of Directors and Compensation Committee Otonomo Technologies Ltd. announced that on May 26, 2022, effective as of such date, Amit Karp resigned his position as a member of the board of directors of the company and from his role as a member of the Compensation Committee of the Board. Mr. Karp had served on the Board since 2015. Mr. Karp’s resignation was not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices. Announcement • Aug 27
Otonomo Announces Receipt of Nasdaq Non-Compliance Letter Otonomo Technologies Ltd. announced that it has received a written notification from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") dated August 23, 2022, indicating that the Company no longer satisfies Nasdaq Listing Rule 5450(a)(1) based upon a closing bid price of less than $1.00 per share for the Company’s ordinary shares (the “Shares”) for the prior 30 consecutive business day period. The notification from Nasdaq has no immediate effect on the listing of the Shares, and the Shares will continue to trade on the Nasdaq Capital Market under the symbol "OTMO”. Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company is provided with a grace period of 180 days, or until February 20, 2023, to meet the minimum bid price requirement under the Nasdaq Listing Rules. If at any time during the 180-day grace period, the closing bid price of the Shares is $1.00 per Share or higher for at least ten consecutive business days, Nasdaq will provide the Company written confirmation of compliance and the matter will be closed. In the event the Company does not regain compliance within the 180-day grace period, and it meets all other listing standards and requirements, the Company may be eligible for an additional 180-day grace period, subject to determination by the staff of Nasdaq. The Company intends to monitor the closing bid price of its Shares during this grace period and will consider its options in order to regain compliance with The Nasdaq Capital Market minimum bid price requirement. Major Estimate Revision • Aug 25
Consensus revenue estimates fall by 35% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from US$13.1m to US$8.58m. Forecast losses increased from -US$0.56 to -US$0.92 per share. Software industry in the US expected to see average net income growth of 6.8% next year. Consensus price target down from US$4.00 to US$1.70. Share price fell 34% to US$0.46 over the past week. Reported Earnings • Aug 18
Second quarter 2022 earnings released Second quarter 2022 results: Net loss: US$65.6m (loss widened US$56.9m from 2Q 2021). Over the next year, revenue is forecast to grow 441%, compared to a 16% growth forecast for the Software industry in the US. Announcement • Jul 20
Otonomo Technologies Ltd. to Report Q2, 2022 Results on Aug 17, 2022 Otonomo Technologies Ltd. announced that they will report Q2, 2022 results at 9:30 AM, US Eastern Standard Time on Aug 17, 2022 Announcement • Jun 22
Otonomo Technologies Ltd. Debuts Key New Fleet Functionality in Smart Mobility Data Platform Otonomo Technologies Ltd. introduced fleet Maintenance and Mileage dashboards in the Otonomo Smart Mobility Data Platform. These are the first of several new dashboards to be introduced and provide customers with a breadth of insights that offer fleet managers a snapshot view of all relevant connected vehicle data to easily and efficiently manage fleets of all sizes. Users can set up push notifications for maintenance issues such as low battery charge for electric vehicles, low fuel levels, and for immediate issues, such as when warning lights are triggered. In the Mileage dashboard, fleet managers can track service milestones and overall mileage, as well as distances traveled by vehicle or by fleet to track trends and spot usage anomalies. The insights presented in the Mileage dashboard are applicable for a number of industry use cases, such as supporting last mile delivery drivers, mileage reimbursement for employees, customer billing, dispatching vehicles for service jobs, and fleet rotation. The Maintenance dashboard provides near-real-time updates on key vehicle metrics such as electric vehicle charge levels, fuel and oil levels, brake wear, tire pressure, engine temperature, and more to ensure the highest levels of safety for drivers and vehicles. Fleet managers can receive proactive alerts when routine maintenance is due or when a high-risk event is detected in a vehicle, such as a temperature spike or a flat tire. The Otonomo Smart Mobility Data Platform is a cloud native, software defined telematics platform that requires no hardware and no costly installation or maintenance fees. It is adaptable to all size fleets and is used by a wide range of fleet management operators, including those in car leasing, rental, and subscription companies. Via open APIs, the Otonomo Smart Mobility Data Platform works to provide insights for all connected vehicles in a fleet. Leveraging the insights provided by Otonomo, companies can make data-informed decisions to drive business growth, save money, and inform the overall direction of the business. The company also announced how Electric Zoo, a pay-as-you-go electric car subscription service, is using Otonomo’s GDPR-compliant Smart Mobility Data Platform to easily manage and track its fleet of electric vehicles. Otonomo’s Maintenance and Mileage dashboards provide Electric Zoo with a breadth of insights and data visualization capabilities to improve operations and explore new business opportunities. Announcement • Jun 15
Otonomo Technologies Ltd. Introduces Mobility Intelligence Solutions to Advance Electric Vehicle Adoption, Mobility as A Service and Urban Planning Otonomo Technologies Ltd. introduced its Mobility Intelligence solutions focused on three high growth categories: electric vehicle (EV) adoption, mobility-as-a-service (MaaS), and urban planning. These solutions expand Otonomo’s existing curated data product offerings with new actionable insights derived by applying proprietary data science, machine learning and advanced analytics. Otonomo is exhibiting this week at the MOVE 2022 [3] conference in London, where attendees can see demonstrations of the new Mobility Intelligence Solutions at the Otonomo booth #307. Otonomo’s Mobility Intelligence proprietary machine learning and data science creates a digital twin model with over 30 unique indicators that allows predictive real-world modeling. Otonomo’s technology assesses human movement, analyzes real-world personas, context, intent, rider segmentation, preferences, and needs, then transforms large-scale data into actionable mobility intelligence. The differentiator of Otonomo’s data-informed insights is in the fusing of rich data sources to understand multi-modal human movement. The data depth and breadth includes daily, up to date, near real time physical sources from mobile devices, municipalities, charging networks, micro mobility performance and soon it will integrate Otonomo’s multi-layered connected vehicle data. Announcement • Jun 08
Otonomo Technologies Ltd. Appoints Meir Moshe to its Board of Directors Otonomo Technologies Ltd. is excited to welcome Meir Moshe to its Board of Directors. Moshe will work alongside fellow board members to further Otonomo’s mission to deliver a new generation of mobility experiences and services. A seasoned technology veteran whose career spans over four decades, Moshe is known for his expertise in finance. At Radware, he served as the CFO for 17 years. He also has extensive experience as a director and member of the audit committee for numerous public companies, including Ability Inc., Carasso Motors Ltd. and Albert Technologies Ltd. Reported Earnings • May 19
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: US$0.11 loss per share. Net loss: US$15.1m (loss widened 249% from 1Q 2021). Revenue exceeded analyst estimates by 158%. Earnings per share (EPS) missed analyst estimates by 91%. Over the next year, revenue is forecast to grow 821%, compared to a 19% growth forecast for the industry in the US. Announcement • May 18
Otonomo Technologies Ltd. Reiterates Revenue Guidance for the Year 2022 Otonomo Technologies Ltd. reiterates Revenue Guidance for the Year 2022. The company expected revenue to be in the range of $13.0 million to $13.5 million, with most of the revenue back-end weighted. Announcement • May 10
Otonomo to Showcase Its Next-Generation Mobility Intelligence Solutions At Ecomotion Week 2022 Otonomo Technologies Ltd. will exhibit its next-generation mobility intelligence solutions at EcoMotion Week at Booth #401 EcoMotion Highway in Tel Aviv, Israel on May 11, 2022. As a Bronze sponsor of the event, Otonomo will demonstrate how its platform for the mobility economy is already powering innovations in automotive, fleet, insurance, transportation and mobility services. Its cloud-native platform can ingest and process data from more than 50 million accessible connected vehicles and 430 million accessible mobile devices. The Otonomo Smart Mobility Data Platform uses artificial intelligence, sensor data and behavioral pattern mapping to create insights from that mobility data for clients seeking market advantage. Otonomo Co-founder and CEO Ben Volkow will be in attendance at EcoMotion Week and welcomes the opportunity to speak with members of the media about how Otonomo’s market momentum — from its acquisitions of Neura and The Floow to its expanding portfolio of OEM partners and customers — is driving innovation and making cities greener, safer and less congested. Price Target Changed • Apr 27
Price target decreased to US$6.00 Down from US$7.75, the current price target is provided by 1 analyst. New target price is 303% above last closing price of US$1.49. Stock is down 85% over the past year. The company is forecast to post a net loss per share of US$0.67 next year compared to a net loss per share of US$0.45 last year. Announcement • Apr 07
Otonomo Technologies Ltd. Announces Resignation of Yuval Cohen from the Board of Directors Otonomo Technologies Ltd. announced that on April 1, 2022, effective as of such date, Yuval Cohen resigned his position as a Class I director of the board of directors of the Company with a term expiring at the Company's 2022 annual meeting of shareholders. Mr. Cohen had served on the Board since 2015 and was a member of the Audit Committee. Announcement • Apr 05
Otonomo Technologies Ltd., Annual General Meeting, May 18, 2022 Otonomo Technologies Ltd., Annual General Meeting, May 18, 2022, at 11:00 Israel Standard Time. Location: 16 Abba Eban Blvd Herzliya Pituach Israel Agenda: To approve and ratify the appointment of Somekh Chaikin, certified public accountants in Israel and a member of KPMG International, as the Company’s auditors for the year 2022 and for an additional period until the next Annual General Meeting; to approve a $65,683 special bonus for Mr. Ben Volkow, the CEO and chairman of the Board, as previously approved by the Board, as an award for the successful closing of the merger transaction with Neura, Inc.; to approve a plan for Mr. Volkow for an annual cash bonus for the year 2022 based on the achievement of certain milestones; and to consider other business matters. Reported Earnings • Apr 03
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: US$0.45 loss per share. Net loss: US$30.9m (loss widened 54% from FY 2020). Revenue exceeded analyst estimates by 16%. Earnings per share (EPS) missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 311%, compared to a 9.6% growth forecast for the industry in the US. Announcement • Apr 01
Otonomo Technologies Ltd. Provides Revenue Guidance for the Year 2022 Otonomo Technologies Ltd. provided revenue guidance for the year 2022. The company expects its revenue for the full year 2022 to be in the range of $13.0 million to $13.5 million, representing a 654% to 684% increase over 2021. Announcement • Mar 01
Otonomo Technologies Ltd. (NasdaqGM:OTMO) entered into a definitive agreement to acquire The Floow Limited for $69 million. Otonomo Technologies Ltd. (NasdaqGM:OTMO) entered into a definitive agreement to acquire The Floow Limited for $69 million on February 26, 2022. Under the definitive agreement, the aggregate cash and stock consideration to be paid and issued upon closing is valued at $31.5 million based on a share price of $2.75. Otonomo may issue additional cash and stock of up to $37.5 million dependent upon achievement of certain business performance objectives. The acquisition is subject to approval by U.K. regulators and is expected to close during the second quarter of 2022. Announcement • Dec 03
Otonomo Collaborates with AWS to Leverage AWS IoT FleetWise Otonomo Technologies Ltd. announced its plans for building on its Amazon Web Services (AWS) Partner Network (APN) membership and existing integration with AWS Connected Mobility Solution by adding support for AWS IoT FleetWise, a new AWS service launching on November 30, 2021. AWS IoT FleetWise’s advanced capabilities include the efficient collection and transfer of select automotive data to the cloud in near real-time from any vehicle. These capabilities, combined with AWS IoT FleetWise’s intelligent filtering capabilities, will make it even easier for Otonomo to process and deliver the massive quantities of vehicle data it manages daily into AWS workloads. Otonomo expects the resulting, increased velocity to enable its customers to build the next-generation of connected car applications. Reported Earnings • Nov 01
First half 2021 earnings released: US$0.42 loss per share First half 2021 results: Net loss: US$13.1m (flat on 1H 2020). Board Change • Sep 13
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 6 non-independent directors. Independent Director Andy Geisse was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Sep 07
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 6 non-independent directors. Independent Director Andy Geisse was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Director Overboarding • Sep 01
Director Jonathan Huberman has joined 4th company board Director Jonathan Huberman has been appointed to the board of Otonomo Technologies Ltd. (NasdaqGM:OTMO). Huberman now sits on a total of 4 company boards. With 4 board positions including the role of CEO at Software Acquisition Group Inc. III (NasdaqCM:SWAG.U), the director is at risk of having too many board obligations according to the Simply Wall St Risk Model.