OTCPK:IGEN

Stock Analysis Report

Executive Summary

IGEN Networks Corp. provides vehicle tracking and recovery devices and solutions to the automotive dealership industries in the United States.

Risk Analysis

Earnings have declined by -4.23% per year over past 5 years

Has less than 1 year of cash runway

Makes less than USD$1m in revenue ($719K)

Does not have a meaningful market cap ($1M)

+ 3 more risks


Snowflake Analysis

Weak fundamentals or lack of information.

Share Price & News

How has IGEN Networks's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: IGEN's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

4.8%

IGEN

1.5%

US Communications

0.6%

US Market


1 Year Return

-63.8%

IGEN

6.4%

US Communications

24.6%

US Market

Return vs Industry: IGEN underperformed the US Communications industry which returned 6.7% over the past year.

Return vs Market: IGEN underperformed the US Market which returned 24.7% over the past year.


Shareholder returns

IGENIndustryMarket
7 Day4.8%1.5%0.6%
30 Day-15.6%2.1%3.0%
90 Day-54.1%5.0%10.6%
1 Year-63.8%-63.8%8.6%6.4%27.3%24.6%
3 Year-87.3%-87.3%50.3%40.7%50.5%40.8%
5 Year-92.0%-92.0%80.8%60.5%78.9%59.1%

Price Volatility Vs. Market

How volatile is IGEN Networks's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is IGEN Networks undervalued compared to its fair value and its price relative to the market?


In this section, we usually try to help investors determine whether IGEN Networks is trading at an attractive price based on the cash flow it is expected to produce in the future. But as IGEN Networks has not provided consistent financial data, and the stock also has no analyst forecast or coverage, its intrinsic value cannot be reliably calculated by extrapolating past data or using analyst consensus cash flow predictions.

This is quite a rare situation as 89% of companies covered by Simply Wall St do have a valuation analysis.


Next Steps

  • Take a look at our analysis of IGEN’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.
  • When valuing a company like this, investors focus more on how they perceive the size of the opportunity, the company's ability to deliver and scale, and the strength of the team. While we are not analysing this type of data at the moment, if you don’t know where to start, we recommend reading through IGEN Networks regulatory filings here.
  • Explore potentially undervalued companies in the Tech industry.

Future Growth

How is IGEN Networks forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

13.3%

Forecasted Tech industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as IGEN Networks has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

  • Take a look at our analysis of IGEN’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.
  • While we do not consider unaudited financials to be a reliable enough to include in our analysis, you can access them on the OTC Markets Website. If you are looking for more of a qualitative research into the company, you can access IGEN Networks's filings and announcements here.
  • Explore growth companies in the Tech industry.

Past Performance

How has IGEN Networks performed over the past 5 years?

-4.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: IGEN is currently unprofitable.

Growing Profit Margin: IGEN is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: IGEN is unprofitable, and losses have increased over the past 5 years at a rate of -4.2% per year.

Accelerating Growth: Unable to compare IGEN's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: IGEN is unprofitable, making it difficult to compare its past year earnings growth to the Communications industry (12.6%).


Return on Equity

High ROE: IGEN's liabilities exceed its assets, so it is difficult to calculate its Return on Equity.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is IGEN Networks's financial position?


Financial Position Analysis

Short Term Liabilities: IGEN has negative shareholder equity, which is a more serious situation than short term assets not covering short term liabilities.

Long Term Liabilities: IGEN has negative shareholder equity, which is a more serious situation than short term assets not covering long term liabilities.


Debt to Equity History and Analysis

Debt Level: IGEN has negative shareholder equity, which is a more serious situation than a high debt level.

Reducing Debt: IGEN's has negative shareholder equity, so we do not need to check if its debt has reduced over time.


Balance Sheet

Inventory Level: IGEN has a low level of unsold assets or inventory.

Debt Coverage by Assets: IGEN has negative shareholder equity (liabilities exceed assets) therefore debt is not covered by short term assets.


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: IGEN has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: IGEN has less than a year of cash runway if free cash flow continues to reduce at historical rates of -30.9% each year


Next Steps

Dividend

What is IGEN Networks's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%1.4%markettop25%3.7%industryaverage2.8%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate IGEN's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate IGEN's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if IGEN's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if IGEN's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of IGEN's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

What is the CEO of IGEN Networks's salary, the management and board of directors tenure and is there insider trading?

9.2yrs

Average board tenure


CEO

Neil Chan (56yo)

8.3yrs

Tenure

US$138,000

Compensation

Mr. Neil Gene Chan has been the Chief Executive Officer of IGen Networks Corp. since September 1, 2011 and also serves as its CFO and served as President of IGen Networks Corp. Mr. Chan served as the Chair ...


CEO Compensation Analysis

Compensation vs Market: Neil's total compensation ($USD138.00K) is below average for companies of similar size in the US market ($USD519.76K).

Compensation vs Earnings: Neil's compensation has been consistent with company performance over the past year.


Board Age and Tenure

9.2yrs

Average Tenure

56yo

Average Age

Experienced Board: IGEN's board of directors are considered experienced (9.2 years average tenure).


Insider Trading

Insider Buying: IGEN insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$3,17520 Dec 19
Neil Chan
EntityIndividual
Role
Chief Executive Officer
CEO, CFO & Director
Shares175,000
Max PriceUS$0.019
BuyUS$2,12513 Dec 19
Neil Chan
EntityIndividual
Role
Chief Executive Officer
CEO, CFO & Director
Shares85,000
Max PriceUS$0.025
BuyUS$15,25005 Dec 19
Neil Chan
EntityIndividual
Role
Chief Executive Officer
CEO, CFO & Director
Shares50,000
Max PriceUS$0.31
BuyUS$1,57520 Nov 19
Neil Chan
EntityIndividual
Role
Chief Executive Officer
CEO, CFO & Director
Shares60,000
Max PriceUS$0.034
BuyUS$1,11020 Nov 19
Neil Chan
EntityIndividual
Role
Chief Executive Officer
CEO, CFO & Director
Shares30,000
Max PriceUS$0.037
BuyUS$2,03020 Nov 19
Neil Chan
EntityIndividual
Role
Chief Executive Officer
CEO, CFO & Director
Shares90,000
Max PriceUS$0.028
BuyUS$2,86531 Oct 19
Neil Chan
EntityIndividual
Role
Chief Executive Officer
CEO, CFO & Director
Shares85,000
Max PriceUS$0.04
BuyUS$60031 Oct 19
Neil Chan
EntityIndividual
Role
Chief Executive Officer
CEO, CFO & Director
Shares20,000
Max PriceUS$0.03
BuyUS$1,38029 Aug 19
Neil Chan
EntityIndividual
Role
Chief Executive Officer
CEO, CFO & Director
Shares30,000
Max PriceUS$0.06
SellUS$67726 Aug 19
Neil Chan
EntityIndividual
Role
Chief Executive Officer
CEO, CFO & Director
Shares20,000
Max PriceUS$0.034
BuyUS$40026 Aug 19
Neil Chan
EntityIndividual
Role
Chief Executive Officer
CEO, CFO & Director
Shares10,000
Max PriceUS$0.04
BuyUS$5,55022 Feb 19
Neil Chan
EntityIndividual
Role
Chief Executive Officer
CEO, CFO & Director
Shares145,000
Max PriceUS$0.04

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 37.3%.


Management Team

  • Neil Chan (56yo)

    CEO, CFO & Director

    • Tenure: 8.3yrs
    • Compensation: US$138.00k

Board Members

  • Mark Wells (55yo)

    Director

    • Tenure: 2yrs
    • Compensation: US$25.00k
  • Jeffrey DeBoer

    Member of the Advisory Board

    • John Raffaelli

      Member of the Advisory Board

      • Neil Chan (56yo)

        CEO, CFO & Director

        • Tenure: 8.3yrs
        • Compensation: US$138.00k
      • Bob Nealon (62yo)

        Chairman of the Board

        • Tenure: 9.5yrs
        • Compensation: US$25.00k
      • Carlos Calderon

        Member of Advisory Board

        • Tenure: 9.2yrs
      • Mike Griffin

        Member of Advisory Board

        • Tenure: 9.2yrs
      • Jim Pasco

        Member of Advisory Board

        • Tenure: 9.2yrs
      • Peter Goelz

        Member of Advisory Board

        • Tenure: 8.7yrs
      • Patrick Minix

        Member of the Advisory Board

        Company Information

        IGEN Networks Corp.'s company bio, employee growth, exchange listings and data sources


        Key Information

        • Name: IGEN Networks Corp.
        • Ticker: IGEN
        • Exchange: OTCPK
        • Founded: 2006
        • Industry: Communications Equipment
        • Sector: Tech
        • Market Cap: US$1.128m
        • Shares outstanding: 74.24m
        • Website: https://www.igen-networks.com

        Number of Employees


        Location

        • IGEN Networks Corp.
        • 29970 Technology Drive
        • Suite 108
        • Murrieta
        • California
        • 92563
        • United States

        Listings

        TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
        IGENOTCPK (Pink Sheets LLC)YesCommon SharesUSUSDOct 2008
        IGNCNSX (Canadian National Stock Exchange)YesCommon SharesCACADOct 2008

        Biography

        IGEN Networks Corp. provides vehicle tracking and recovery devices and solutions to the automotive dealership industries in the United States. The company offers lot inventory management, asset tracking, and stolen vehicle recovery solutions. It also invests in and manages private high-tech companies that offer products and services in the domains of wireless broadband and machine-to-machine communications and applications, as well as sells its products and services through the distribution channels. The company was formerly known as Sync2 Entertainment Corporation and changed its name to IGEN Networks Corp. in June 2009. IGEN Networks Corp. was incorporated in 2006 and is headquartered in Murrieta, California. 


        Company Analysis and Financial Data Status

        All financial data provided by Standard & Poor's Capital IQ.
        DataLast Updated (UTC time)
        Company Analysis2020/01/23 00:28
        End of Day Share Price2020/01/22 00:00
        Earnings2019/09/30
        Annual Earnings2018/12/31


        Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.