Tillkännagivande • Oct 31
eMagin Corporation Files Form 15 eMagin Corporation has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its common stock under the Securities Exchange Act of 1934, as amended. The par value of the company's common stock was $0.001 per share. Tillkännagivande • Oct 20
eMagin Corporation(NYSEAM:EMAN) dropped from S&P TMI Index eMagin Corporation(NYSEAM:EMAN) dropped from S&P TMI Index New Risk • Sep 12
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$9.4m 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$9.4m free cash flow). Shares are highly illiquid. Minor Risks Currently unprofitable and not forecast to become profitable next year (US$14m net loss next year). Shareholders have been diluted in the past year (8.5% increase in shares outstanding). Reported Earnings • Aug 11
Second quarter 2023 earnings released: US$0.14 loss per share (vs US$0.019 loss in 2Q 2022) Second quarter 2023 results: US$0.14 loss per share (further deteriorated from US$0.019 loss in 2Q 2022). Revenue: US$4.96m (down 31% from 2Q 2022). Net loss: US$11.2m (loss widened US$9.73m from 2Q 2022). Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 8.0% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Board Change • Aug 07
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. 1 experienced director. 5 highly experienced directors. Independent Director Eric Braddom was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Tillkännagivande • Aug 04
eMagin Corporation to Report Q2, 2023 Results on Aug 10, 2023 eMagin Corporation announced that they will report Q2, 2023 results on Aug 10, 2023 Tillkännagivande • May 18
Samsung Display Co., Ltd. entered into a definitive agreement to acquire eMagin Corporation (NYSEAM:EMAN) for approximately $180 million. Samsung Display Co., Ltd. entered into a definitive agreement to acquire eMagin Corporation (NYSEAM:EMAN) for approximately $180 million on May 17, 2023. Under the terms of the agreement, all outstanding shares of eMagin common stock on a fully diluted basis will be acquired for $2.08 per share in cash. Following the closing of the transaction, eMagin will continue to maintain its operations and facilities in Hopewell Junction, NY. In case of termination of the transaction under certain circumstances, eMagin would be required to pay Samsung Display a termination fee of $9 million.
The transaction is subject to the approval by eMagin’s stockholders, the expiration or termination of any applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, receipt of any other required governmental approvals or waivers thereof, including clearance from the Committee on Foreign Investment in the United States, and other customary closing conditions. Boards of Directors of eMagin and Samsung Display have unanimously approved the transaction. The transaction is expected to close in the second half of 2023. Nomura Securities International, Inc. is serving as exclusive financial advisor and fairness opinion provider to eMagin. Ross Sturman of White & Case LLP and Goodwin Procter LLP are acting as eMagin’s legal counsel. Evercore Inc. is serving as exclusive financial advisor to Samsung Display and Daniel Kim, Brad Finkelstein and Noah Kornblith of O'Melveny & Myers LLP are acting as legal counsels. Reported Earnings • May 12
First quarter 2023 earnings released: US$0.032 loss per share (vs US$0.002 loss in 1Q 2022) First quarter 2023 results: US$0.032 loss per share (further deteriorated from US$0.002 loss in 1Q 2022). Revenue: US$6.60m (down 10% from 1Q 2022). Net loss: US$2.62m (loss widened US$2.48m from 1Q 2022). Revenue is forecast to grow 8.5% p.a. on average during the next 2 years, compared to a 8.9% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 38% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Apr 06
Now 20% undervalued Over the last 90 days, the stock is up 147%. The fair value is estimated to be €2.47, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 45%. Revenue is forecast to grow by 13% in 2 years. Earnings is forecast to decline by 82% in the next 2 years. Reported Earnings • Mar 11
Full year 2022 earnings released: US$0.015 loss per share (vs US$0.072 loss in FY 2021) Full year 2022 results: US$0.015 loss per share (improved from US$0.072 loss in FY 2021). Revenue: US$30.5m (up 17% from FY 2021). Net loss: US$1.10m (loss narrowed 79% from FY 2021). Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has increased by 73% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • Jan 13
eMagin Corporation Provides Revenue Guidance for the Fourth Quarter of 2022 eMagin Corporation provided revenue guidance for the fourth quarter of 2022. For the quarter, the company expects product revenue to be in the range of $7.6 million to $7.8 million, representing a 9% to 11% increase from the fourth quarter of 2021, and a 9% to 11% sequential increase from the third quarter of 2022. Contract revenue to be approximately $0.5 million, compared with $0.2 million in the fourth quarter of 2021. Total revenue to be in the range of $8.1 million to $8.3 million, compared with total revenue of $7.2 million for the fourth quarter of 2021. Board Change • Nov 16
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. 1 experienced director. 5 highly experienced directors. Independent Director Eric Braddom was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 12
Third quarter 2022 earnings released: US$0.004 loss per share (vs US$0.011 profit in 3Q 2021) Third quarter 2022 results: US$0.004 loss per share (down from US$0.011 profit in 3Q 2021). Revenue: US$7.62m (up 32% from 3Q 2021). Net loss: US$334.0k (down 143% from profit in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • Oct 28
eMagin Corporation Achieves AS9100 Rev D and ISO 9001:2015 Certifications eMagin Corporation announced the completion of an audit by Eagle Certification Group, a certification body accredited by the ANSI-ASQ National Accreditation Board (ANAB), to achieve AS9100 Rev D and ISO 9001:2015 certification for eMagin’s OLED design/development/production facility in Hopewell Junction, NY and design/development facility in Santa Clara, CA. AS9100 is an internationally recognized quality management system standard specific to the aerospace, aviation, and defense industries. The standard is widely supported and adhered to by major aerospace OEMs and is increasingly required by vendors within the supply chain. AS9100 is managed by the International Aerospace Quality Group (IAQG) and is based on the ISO 9001:2015 global quality management standard and meets the quality requirements of the U.S. Department of Defense, the National Aeronautics and Space Administration, and the Federal Aviation Administration. Valuation Update With 7 Day Price Move • Oct 27
Investor sentiment improved over the past week After last week's 67% share price gain to €1.19, the stock trades at a trailing P/E ratio of 80x. Average trailing P/E is 16x in the Semiconductor industry in Germany. Total returns to shareholders of 359% over the past three years. Reported Earnings • Aug 12
Second quarter 2022 earnings released: US$0.019 loss per share (vs US$0.004 loss in 2Q 2021) Second quarter 2022 results: US$0.019 loss per share (down from US$0.004 loss in 2Q 2021). Revenue: US$7.16m (up 14% from 2Q 2021). Net loss: US$1.44m (loss widened 418% from 2Q 2021). Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 47% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • Jul 29
eMagin Corporation to Report Q2, 2022 Results on Aug 11, 2022 eMagin Corporation announced that they will report Q2, 2022 results on Aug 11, 2022 Tillkännagivande • Jul 22
eMagin Corporation Provides Earnings Guidance for the Second Quarter of 2022 eMagin Corporation provided earnings guidance for the second quarter of 2022. For the quarter, the company expected revenue to be between $7.0 million to $7.2 million, which would represent an 11% to 14% increase from revenues of $6.3 million for the second quarter of 2021. The estimated improvement in year-over-year revenues reflects strength in military demand as well as increased revenue contributions from medical customers, partially offset by decreases in contract revenue related to the timing of development activities. Reported Earnings • May 14
First quarter 2022 earnings released: US$0.002 loss per share (vs US$0.10 loss in 1Q 2021) First quarter 2022 results: US$0.002 loss per share (up from US$0.10 loss in 1Q 2021). Revenue: US$7.36m (up 8.6% from 1Q 2021). Net loss: US$137.0k (loss narrowed 98% from 1Q 2021). Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 11% per year. Tillkännagivande • May 03
eMagin Corporation to Report Q1, 2022 Results on May 12, 2022 eMagin Corporation announced that they will report Q1, 2022 results on May 12, 2022 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. 2 experienced directors. 4 highly experienced directors. Independent Director Eric Braddom was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Tillkännagivande • Apr 23
eMagin Corporation, Annual General Meeting, Jun 09, 2022 eMagin Corporation, Annual General Meeting, Jun 09, 2022, at 09:00 US Eastern Standard Time. Agenda: To consider electing the six director nominees named in the Proxy Statement to hold office until the next annual meeting of stockholders and until their successors are duly elected and qualified; to ratify the appointment of RSM US LLP as the Company’s independent auditors for the fiscal year ending December 31, 2022; to consider the approval of the compensation of named executive officers; and to act on such other matters as may properly come before the Annual Meeting or any adjournment or postponements thereof. Reported Earnings • Mar 11
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: US$0.072 loss per share (up from US$0.19 loss in FY 2020). Revenue: US$26.0m (down 12% from FY 2020). Net loss: US$5.21m (loss narrowed 55% from FY 2020). Revenue missed analyst estimates by 2.8%. Over the next year, revenue is forecast to grow 5.6%, compared to a 15% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 9% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • Mar 03
eMagin Corporation to Report Q4, 2021 Results on Mar 10, 2022 eMagin Corporation announced that they will report Q4, 2021 results on Mar 10, 2022 Tillkännagivande • Jan 22
eMagin Corporation Provides Revenue Guidance for the Fourth Quarter Ended December 31, 2021 eMagin Corporation provided revenue guidance for the fourth quarter ended December 31, 2021. Total revenue for the fourth quarter is expected to be in the range of $7.0 million to $7.2 million, compared with total revenue of $7.7 million for the fourth quarter of 2020. Reported Earnings • Nov 13
Third quarter 2021 earnings released: EPS US$0.018 (vs US$0.061 loss in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: US$5.78m (down 21% from 3Q 2020). Net income: US$1.31m (up US$4.84m from 3Q 2020). Profit margin: 23% (up from net loss in 3Q 2020). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. Board Change • Nov 02
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. 2 experienced directors. 4 highly experienced directors. Independent Director Eric Braddom was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 14
Second quarter 2021 earnings released: US$0.004 loss per share (vs US$0.05 loss in 2Q 2020) The company reported a decent second quarter result with reduced losses and improved control over expenses, although revenues were weaker. Second quarter 2021 results: Revenue: US$6.28m (down 19% from 2Q 2020). Net loss: US$278.0k (loss narrowed 90% from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 14
First quarter 2021 earnings released: US$0.10 loss per share (vs US$0.027 loss in 1Q 2020) The company reported a poor first quarter result with increased losses and weaker control over costs, although revenues were flat. First quarter 2021 results: Revenue: US$6.77m (flat on 1Q 2020). Net loss: US$7.38m (loss widened 439% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 10% per year. Reported Earnings • Mar 20
Full year 2020 earnings released: US$0.19 loss per share (vs US$0.089 loss in FY 2019) The company reported a soft full year result with increased losses and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: US$29.4m (up 10% from FY 2019). Net loss: US$11.4m (loss widened 166% from FY 2019). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 43% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • Mar 13
eMagin Corporation to Report Q4, 2020 Results on Mar 18, 2021 eMagin Corporation announced that they will report Q4, 2020 results on Mar 18, 2021 Is New 90 Day High Low • Mar 02
New 90-day high: €4.04 The company is up 314% from its price of €0.97 on 02 December 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 23% over the same period. Recent Insider Transactions • Feb 13
Insider recently sold €1.1m worth of stock On the 9th of February, Mortimer Sackler sold around 401k shares on-market at roughly €2.80 per share. In the last 3 months, they made an even bigger sale worth €2.7m. Insiders have been net sellers, collectively disposing of €3.8m more than they bought in the last 12 months. Is New 90 Day High Low • Feb 05
New 90-day high: €2.52 The company is up 142% from its price of €1.04 on 06 November 2020. The German market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 33% over the same period. Recent Insider Transactions • Jan 29
Insider recently sold €2.7m worth of stock On the 26th of January, Mortimer Sackler sold around 1m shares on-market at roughly €2.37 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €2.7m more than they bought in the last 12 months. Is New 90 Day High Low • Jan 09
New 90-day high: €1.79 The company is up 79% from its price of €1.00 on 09 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 Semiconductor industry, which is up 20% over the same period. Is New 90 Day High Low • Dec 24
New 90-day high: €1.61 The company is up 58% from its price of €1.02 on 25 September 2020. The German market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 35% over the same period. Analyst Estimate Surprise Post Earnings • Nov 16
Revenue misses expectations Revenue missed analyst estimates by 7.5%. Over the next year, revenue is forecast to grow 7.9%, compared to a 20% growth forecast for the Semiconductor industry in Germany. Reported Earnings • Nov 16
Third quarter 2020 earnings released: US$0.061 loss per share The company reported a poor third quarter result with increased losses and weaker revenues and control over expenses. Third quarter 2020 results: Revenue: US$7.31m (down 7.7% from 3Q 2019). Net loss: US$3.53m (loss widened US$3.22m from 3Q 2019). Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Nov 13
New 90-day low: €0.93 The company is down 38% from its price of €1.50 on 14 August 2020. The German market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 18% over the same period. Reported Earnings • Nov 13
Third quarter 2020 earnings released: US$0.061 loss per share The company reported a poor third quarter result with increased losses and weaker revenues and control over expenses. Third quarter 2020 results: Revenue: US$7.31m (down 7.7% from 3Q 2019). Net loss: US$3.53m (loss widened US$3.22m from 3Q 2019). Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Nov 13
Revenue misses expectations Revenue missed analyst estimates by 7.5%. Over the next year, revenue is forecast to grow 8.1%, compared to a 19% growth forecast for the Semiconductor industry in Germany. Tillkännagivande • Nov 07
eMagin Corporation to Report Q3, 2020 Results on Nov 12, 2020 eMagin Corporation announced that they will report Q3, 2020 results at 11:00 AM, GMT Standard Time on Nov 12, 2020 