Duyuru • Sep 09
Voxtur Analytics Corp. Received A Notice of Default from its Lender Voxtur Analytics Corp. announced that it has received a Notice of Default from its lender under the Amended and Restated Credit Agreement for among other things, the failure to provide the financial statements for the second quarter ended June 30, 2025, failure to repay the outstanding indebtedness under the Credit Facility when due, failure to maintain the required EBIDTA ratio and failure to pay interest when due. Further to the above, the Company continues to work with its financial advisor in order to provide liquidity options to its lender. New Risk • Jun 01
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$9.64m (US$7.02m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. 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 (-CA$17m free cash flow). Share price has been highly volatile over the past 3 months (29% average weekly change). Negative equity (-CA$33m). Earnings have declined by 33% per year over the past 5 years. Market cap is less than US$10m (CA$9.64m market cap, or US$7.02m). Reported Earnings • May 30
First quarter 2025 earnings released: CA$0.007 loss per share (vs CA$0.006 loss in 1Q 2024) First quarter 2025 results: CA$0.007 loss per share (further deteriorated from CA$0.006 loss in 1Q 2024). Revenue: CA$8.31m (down 4.7% from 1Q 2024). Net loss: CA$5.54m (loss widened 41% from 1Q 2024). New Risk • May 06
New major risk - Negative shareholders equity The company has negative equity. Total equity: -CA$25m This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. 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 (-CA$15m free cash flow). Share price has been highly volatile over the past 3 months (25% average weekly change). Negative equity (-CA$25m). Earnings have declined by 40% per year over the past 5 years. Minor Risk Market cap is less than US$100m (CA$15.4m market cap, or US$11.2m). Duyuru • Apr 15
Voxtur Analytics Corp., Annual General Meeting, Jun 27, 2025 Voxtur Analytics Corp., Annual General Meeting, Jun 27, 2025. New Risk • Jan 15
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. 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 (-CA$17m free cash flow). Earnings have declined by 47% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Shareholders have been diluted in the past year (6.8% increase in shares outstanding). Market cap is less than US$100m (CA$34.0m market cap, or US$23.7m). Reported Earnings • Nov 29
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: CA$8.49m (down 31% from 3Q 2023). Net loss: CA$7.41m (loss narrowed 25% from 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has fallen by 57% per year, which means it is performing significantly worse than earnings. New Risk • Sep 12
New major risk - Revenue and earnings growth Earnings have declined by 56% 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 Risks Less than 1 year of cash runway based on free cash flow trend (-CA$23m free cash flow). Earnings have declined by 56% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (17% average weekly change). Shareholders have been diluted in the past year (9.7% increase in shares outstanding). Market cap is less than US$100m (CA$83.7m market cap, or US$61.7m). New Risk • Sep 01
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. 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 (-CA$23m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Minor Risks Currently unprofitable and not forecast to become profitable next year (CA$32m net loss next year). Shareholders have been diluted in the past year (9.7% increase in shares outstanding). Market cap is less than US$100m (CA$98.2m market cap, or US$72.9m). Duyuru • Aug 15
Voxtur Analytics Corp. Appoints Ryan Marshall as Chief Executive Officer Voxtur Analytics Corp. announced that Ryan Marshall will assume the role of Chief Executive Officer, effective immediately. The leadership change represents a strategic pivot as Voxtur embarks on a new chapter focusing on innovation, growth and enhanced shareholder value. Marshall formerly served as Voxtur’s Chief Operating Officer and Chief Product Officer, and prior to that, he was CEO of Benutech. Throughout his tenured career, Marshall has garnered a wealth of experience within the U.S. mortgage industry and demonstrated exceptional leadership. As CEO of the company, he brings to the table a deep understanding of the company’s operations, market dynamics, and growth potential, as well as a firm commitment to driving the company’s strategic vision forward. Under Marshall’s guidance, the company will leverage one of its many competitive advantages by realizing the potential synergies and distribution points across all its businesses. New Risk • Jul 31
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-CA$23m free cash flow). Minor Risks Currently unprofitable and not forecast to become profitable next year (CA$32m net loss next year). Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (17% increase in shares outstanding). Market cap is less than US$100m (CA$61.3m market cap, or US$44.3m). Duyuru • Jul 26
Nicholas H. Smith Wants Accountability at Voxtur Analytics On July 24, 2024, Voxtur Analytics Corp. Shareholders for Accountability, being RPC Ventures I Fund LP, an investment fund controlled by Rice Park Capital Management LP, and the shares of the Company controlled Nicholas H. Smith, announced that they reiterate their concerns with respect to the Company following the results of the Company's annual and special meeting of shareholders held on June 28, 2024. Nicholas H. Smith expressed his views that he accepts the results of the meeting but for the reasons set forth below, he remains committed to his objective of maximizing the Company’s shareholder value. Nicholas H. Smith added that his concerns about the Company's board of directors and management team to develop and execute a coherent strategic business plan for the Company remains unchanged. Nicholas H. Smith also expressed that the Company ought to embrace transformational governance reforms to reverse the negative trajectory of the Company. Nicholas H. Smith added that if the results of the meeting materially improve shareholder value or reaffirm his concerns. Voxtur Shareholders for Accountability would continue to hold the board accountable to all the Company shareholders for the performance of the Company. Board Change • Jul 01
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. 5 experienced directors. 1 highly experienced director. Independent Director Grant Moon was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Duyuru • Jun 25
Nicholas H. Smith Provides Information to Shareholders of Voxtur Analytics On June 24, 2024, A group of shareholders of Voxtur Analytics Corp. announced that it wishes to set the record straight for the Company shareholders regarding the recent statements made by the Company's entrenched board of directors and certain members of the management team and reaffirm their support for their 6 nominees to be elected to the board of directors at the Company's annual general and special meeting scheduled to be held on June 28, 2024. Nicholas H. Smith stated that having now engaged Laurel Hill Advisory Group to support their campaign against accountability - the Incumbents make numerous serious and false statements targeted at the Company shareholders for Accountability and his objectives. Nicholas H. Smith added that he feels it is necessary to provide a detailed response so that all Company shareholders can make an informed voting decision. Duyuru • Jun 20
Nicholas H. Smith Seeks to Reconstitute the Board of Directors at Voxtur Analytics On June 19, 2024, A group of shareholders of Voxtur Analytics Corp., including Nicholas H. Smith, is seeking to reconstitute the board of directors of the Company at the Company's annual general and special meeting (AGSM), scheduled to be held virtually on June 28, 2024. Nicholas H. Smith stated that the Company Shareholders for Accountability are nominating 6 individuals at the AGSM. The 6 nominees that the Company Shareholders for Accountability are nominating are Nicholas H. Smith, Alan P. Qureshi, Chris B. Bixby, Jeffrey A. Hilligoss, Chad Neel, and Thomas J. Holthus. Nicholas H. Smith expressed its view that the Board ought to immediately commence a strategic review process that would encompass an evaluation of the Company's current strategic direction, operations, market valuation and capital structure. Nicholas H. Smith added that the strategic review process ought to consider appropriate strategic, business and financial alternatives for the Company, which may include, without limitation, a corporate sale, a merger or other business combination, a sale of all or a portion of the Company's assets, strategic investment, or continuation as a standalone publicly traded company. New Risk • May 31
New major risk - Revenue and earnings growth Earnings have declined by 64% 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 Risks Less than 1 year of cash runway based on free cash flow trend (-CA$23m free cash flow). Earnings have declined by 64% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (21% increase in shares outstanding). Market cap is less than US$100m (CA$72.1m market cap, or US$52.8m). Reported Earnings • May 30
First quarter 2024 earnings released: CA$0.008 loss per share (vs CA$0.024 loss in 1Q 2023) First quarter 2024 results: CA$0.008 loss per share (improved from CA$0.024 loss in 1Q 2023). Revenue: CA$13.4m (down 54% from 1Q 2023). Net loss: CA$5.73m (loss narrowed 59% from 1Q 2023). Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Software industry in Canada. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has fallen by 52% per year, which means it is performing significantly worse than earnings. Reported Earnings • Apr 30
Full year 2023 earnings released: CA$0.11 loss per share (vs CA$0.39 loss in FY 2022) Full year 2023 results: CA$0.11 loss per share (improved from CA$0.39 loss in FY 2022). Revenue: CA$49.0m (down 68% from FY 2022). Net loss: CA$67.4m (loss narrowed 68% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has only fallen by 50% per year, which means it has not declined as severely as earnings. Duyuru • Apr 23
Voxtur Analytics Corp., Annual General Meeting, Jun 28, 2024 Voxtur Analytics Corp., Annual General Meeting, Jun 28, 2024. Duyuru • Mar 09
Voxtur Analytics Corp. Appoints Gary Yeoman as Interim Chairman Voxtur Analytics Corp. announced that Gary Yeoman has been appointed as Interim Chairman of the Voxtur Board, effective immediately. Mr. Yeoman’s appointment follows the resignation of Chairman Nick Smith who has served diligently as Chairman, providing invaluable leadership and guidance to the Company since joining the board December 31, 2022. While Mr. Smith will continue to be a supportive shareholder, he has decided to step down from his position as Chairman to focus on his investment management business. Following Mr. Smith's resignation, the Board of Directors has appointed Gary Yeoman as Interim Chairman. Mr. Yeoman brings with him a wealth of experience and expertise in the capital markets and as a corporate board member, having served on the Voxtur board for over 10 years. He has previously served as Executive Chairman prior to being re-appointed as CEO in April 2023. His leadership skills and strategic vision will continue to be instrumental in guiding the company through this transition period. As Mr. Smith transitions to his new role as a supportive shareholder, the Company expresses its gratitude for his dedicated service and contributions over the years. His insights and guidance have been invaluable, and his continued support will be instrumental in the company's future success. New Risk • Feb 21
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-CA$32m free cash flow). Minor Risks Currently unprofitable and not forecast to become profitable next year (CA$26m net loss next year). Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (20% increase in shares outstanding). Market cap is less than US$100m (CA$60.2m market cap, or US$44.5m). Major Estimate Revision • Dec 15
Consensus revenue estimates increase by 18% The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from CA$83.3m to CA$98.1m. EPS estimate unchanged from -CA$0.07 at last update. Software industry in Canada expected to see average net income growth of 23% next year. Consensus price target down from CA$0.40 to CA$0.25. Share price was steady at CA$0.11 over the past week. Reported Earnings • Dec 01
Third quarter 2023 earnings released: CA$0.015 loss per share (vs CA$0.003 loss in 3Q 2022) Third quarter 2023 results: CA$0.015 loss per share (further deteriorated from CA$0.003 loss in 3Q 2022). Revenue: CA$12.2m (down 66% from 3Q 2022). Net loss: CA$9.88m (loss widened 465% from 3Q 2022). Revenue is forecast to grow 36% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Software industry in Canada. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 42 percentage points per year, which is a significant difference in performance. Duyuru • Sep 14
Voxtur Analytics Corp. announced that it has received CAD 11.703052 million in funding On September 12, 2023 Voxtur Analytics Corp has closed the transaction. The company has issued 6,300,000 units at an issue price of CAD 0.20 per unit for an additional gross proceeds of CAD 1,260,000.The company has raised an aggregate gross proceeds of CAD 11,703,052. Each Unit is comprised of one common share of the Company and one common share purchase warrant (each, a “Warrant”). Each Warrant entitles the holder thereof to acquire one common share of the Company at a price of CAD 0.20 expiring on June 26, 2028.All securities issued in connection with the Offering are subject to a four month and a day hold period from the date of issue in accordance with applicable securities laws. Duyuru • Aug 30
Voxtur Analytics Corp. Announces End-To-End Solution for Property Data Collection in Support of GSE Appraisal Modernization Voxtur Analytics Corp. announced the launch of Voxtur Data Collection, or VDC, a comprehensive solution for Property Data Collection. VDC is powered by Voxtur's Walkthrough technology, a web-based interface that ensures complete and compliant universal data collection. Its holistic approach ensures that one inspection will meet the requirements for Fannie Mae value acceptance + property as well as for other data sets. It is compatible with all smart phone types, allows for instantaneous content updates and easily integrates sketch completion into the process. While Walkthrough provides the ultimate data gathering interface, Voxtur enhances its offering with a seasoned and proficient national panel of agents and appraisers who undergo comprehensive training and testing to be aligned to the data collection products. The combination of a well-versed collector, a robust inspection tool, and an established team of QC personnel allows Voxtur to enter this market uniquely positioned to support the GSEs and its clients. By their very nature, forward-looking statements require management to make assumptions and involve significant risks and uncertainties, should not be read as guarantees of future events, performance or results, and give rise to the possibility that management's predictions, forecasts, projections, expectations or conclusions will not prove to be accurate, that the assumptions may not be correct and that the Company's future growth, financial performance and objectives and the Company's strategic initiatives, plans, business prospects and opportunities, including the duration, impact of and recovery from the COVID-19 pandemic, will not occur or be achieved. Any information contained herein that is not based on historical facts may be deemed to constitute forward-looking information within the meaning of Canadian and United States securities laws. Reported Earnings • Aug 24
Second quarter 2023 earnings released: CA$0.024 loss per share (vs CA$0.008 loss in 2Q 2022) Second quarter 2023 results: CA$0.024 loss per share (further deteriorated from CA$0.008 loss in 2Q 2022). Revenue: CA$29.9m (down 22% from 2Q 2022). Net loss: CA$14.5m (loss widened 249% from 2Q 2022). Revenue is forecast to grow 2.6% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Software industry in Canada. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. Duyuru • Aug 10
Voxtur Analytics Corp. announced that it has received CAD 10.443052 million in funding On August 8, 2023, Voxtur Analytics Corp., closed the transaction. The company has raised CAD 10,443,052 through issuance of 52,215,260 units at an issue price of CAD 0.20 in the transaction. The company issued 32,241,765 units at an issue price of CAD 0.20 for the gross proceeds of CAD 6,448,353 in its third and final tranche closing. The company may issue up to an additional CAD 9,550,000 of units pursuant to the offering, though there is no assurance that additional commitments will be received by the company or that additional closings under the offering will be completed. Major Estimate Revision • Aug 01
Consensus revenue estimates fall by 32% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from CA$173.4m to CA$117.9m. Forecast losses increased from -CA$0.03 to -CA$0.08 per share. Software industry in Canada expected to see average net income growth of 5.4% next year. Consensus price target down from CA$0.82 to CA$0.68. Share price fell 7.9% to CA$0.17 over the past week. Board Change • Aug 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Chairman Nick Smith was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jul 20
Full year 2022 earnings released: CA$0.39 loss per share (vs CA$0.076 loss in FY 2021) Full year 2022 results: CA$0.39 loss per share (further deteriorated from CA$0.076 loss in FY 2021). Revenue: CA$150.9m (up 57% from FY 2021). Net loss: CA$212.8m (loss widened CA$180.7m from FY 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 89 percentage points per year, which is a significant difference in performance. New Risk • Jul 19
New major risk - Revenue and earnings growth Earnings have declined by 76% 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 76% per year over the past 5 years. Minor Risks Currently unprofitable and not forecast to become profitable next year (CA$24m net loss next year). Shareholders have been diluted in the past year (15% increase in shares outstanding). Market cap is less than US$100m (CA$117.5m market cap, or US$89.2m). Duyuru • Jun 27
Voxtur Analytics Corp. announced that it expects to receive CAD 4 million in funding Voxtur Analytics Corp. announced a non-brokered private placement to issue 20,000,000 units at an issue price of CAD 0.20 per unit for the gross proceeds of CAD 4,000,000 on June 26, 2023. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder thereof to acquire one common share of the company at a price of CAD 0.20 for a period of five years following the closing. The closings are subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange. The offering is expected to close in two or more closings. All securities issued in connection with the offering are subject to a four-month-and-a-day hold period from the date of issue in accordance with applicable securities laws.
On the same date, the company issued 16,500,000 units at an issue price of CAD 0.20 for the gross proceeds of CAD 3,300,000 in the first tranche. Each warrant entitles the holder thereof to acquire one common share of the company at a price of CAD 0.20 for a period of five years following the closing. Duyuru • Jun 15
Voxtur Analytics Corp. Unveils New Apex Sketch Portal Feature for Enhanced Mobility Voxtur Analytics Corp. announced the release of the Apex Sketch Portal featuring Apex AvX (“AvX”), which is the multi-platform solution that expands the capabilities of the industry-leading property sketching provider Apex Software (“Apex”). The combination of AvX and the Apex Sketch Portal allows users to enjoy all the traditional functionality and ease-of-use of the traditional Apex sketching products on any device, including mobile tablets and phones, while also empowering them with the ability to access all of their property sketches remotely and seamlessly transition between desktop and mobile workflow via the platform. The Apex Sketch Portal revolutionizes the way professionals in the real estate industry create and manage their property sketches. This cutting-edge software platform combines the reliability and robust features for which all versions of Apex Sketch are known, with the flexibility and convenience of unrivaled access to property sketch data and professional sketching software on mobile devices. By extending Apex's capabilities to tablets and phones, it empowers users to take their sketching experience on the go, improving productivity and turnaround time. Key Features of AvX: Mobile Functionality: With AvX, users can harness the power of property sketching on any device. Whether in the field, at a client meeting, at their home office or on the move, professionals can easily access and create sketches with the same level of functionality and ease-of-use as any prior version of Apex. Seamless Integration: AvX and the Apex Sketch Portal offer effortless migration from the desktop version to the mobile application. Users can seamlessly transition their workflow between devices, ensuring a smooth and uninterrupted sketching experience. Remote Access: The Apex Sketch Portal enables clients to remotely access all their sketches at any time, eliminating the need to manually shuffle physical files and ensuring data availability wherever they are. This feature enhances collaboration, allowing multiple stakeholders to view and review sketches in real-time. Bulk Uploads: AvX simplifies the process of transferring legacy files to the mobile platform. Apex can conveniently upload and import all their existing sketches in bulk, saving time and effort in the migration process. The Apex Sketch Portal is available for use on Windows, iOS, and Android devices. Duyuru • Dec 29
Voxtur Analytics Corp. Announces Board Changes Voxtur Analytics Corp. announced the appointment of Nicholas Smith, of Rice Park Capital Management LP, to the Company's board of directors, effective immediately. Mr. Smith's appointment follows the resignation of Mark Volosov from his role as a director of the Company, effective December 13, 2022. Mr. Smith is the founder and Chief Executive Officer of Rice Park Capital. Before founding Rice Park Capital in 2019, from 2015 to 2018 Mr. Smith served in a variety of executive roles on behalf of the Blackstone Group, including Chief Investment Officer of Blackstone’s private residential mortgage REIT, co-founder and Chief Investment Officer of Finance of America Companies and President of Incenter. In these roles Mr. Smith oversaw a broad-based and coordinated platform of direct mortgage asset investing and portfolio management, mortgage and specialty finance lending, and tech-enabled mortgage and specialty finance services. Prior to Blackstone, Mr. Smith served as Managing Director, Two Harbors Investment Corp. from 2012 to 2015, where he built and led the investment platform for mortgage servicing rights and residential whole loans. From 2004 to 2012, Mr. Smith served in a variety of roles for Green Tree Investment Management (GTIM), including Chief Investment Officer where he was responsible for the residential mortgage investment platform of Green Tree Holdings, GTIM’s parent company, and its affiliate, Green Tree Servicing, and approximately $1.5 billion in private funds managed by GTIM. Mr. Smith worked at GMAC ResCap (formerly GMAC-RFC) from 1998 to 2004 where he held roles on the mortgage trading desk and in corporate development. Mr. Smith has served on a variety of boards for private companies and charitable organizations throughout his career. He currently sits on the boards of Asset Based Lending and Brass Ring Capital. Major Estimate Revision • Dec 06
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from CA$177.9m to CA$147.7m. EPS estimate increased from -CA$0.06 to -CA$0.03 per share. Software industry in Canada expected to see average net income decline 6.5% next year. Consensus price target down from CA$1.50 to CA$0.82. Share price fell 30% to CA$0.22 over the past week. Reported Earnings • Dec 02
Third quarter 2022 earnings released: CA$0.003 loss per share (vs CA$0.008 loss in 3Q 2021) Third quarter 2022 results: CA$0.003 loss per share (improved from CA$0.008 loss in 3Q 2021). Revenue: CA$35.5m (up 44% from 3Q 2021). Net loss: CA$1.75m (loss narrowed 52% from 3Q 2021). Revenue is forecast to grow 53% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Software industry in Canada. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Duyuru • Dec 01
Voxtur Analytics Corp. Revises Revenue Guidance for the Fiscal Year 2022 Voxtur Analytics Corp. revised revenue guidance for the fiscal year 2022. As the company end 2022 and go into 2023, management's expectation is that market conditions will remain challenging. Based on current conditions and related Fourth Quarter projections, the company are reducing revenue guidance to a range of $140 million to $150 million based on revenue streams included in the original guidance. Duyuru • Nov 24
Voxtur Analytics Corp. to Report Q3, 2022 Results on Nov 29, 2022 Voxtur Analytics Corp. announced that they will report Q3, 2022 results After-Market on Nov 29, 2022 Board Change • Nov 16
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. 1 experienced director. 1 highly experienced director. Executive Chairman Gary Yeoman is the most experienced director on the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Duyuru • Oct 13
Voxtur Analytics Corp. announced that it has received CAD 3.999999 million in funding from BMO Capital Partners On October 12, 2022, Voxtur Analytics Corp. closed the transaction. Duyuru • Sep 23
Voxtur Analytics Corp. announced that it expects to receive CAD 3.999999 million in funding from BMO Capital Partners Voxtur Analytics Corp. announced a private placement of 4,081,632 Series 2 Preference Shares to BMO Capital Partners at an offering price of CAD 0.98 per preferred share for aggregate gross proceeds of CAD 3,999,999 on September 22, 2022. The preferred shares will not be listed on any exchange and will be subject to certain contractual and legal limitations. Each preferred share will, subject to customary anti-dilution adjustments, be convertible into one common share, at the option of BMO Capital Partners. Each preferred share (i) entitles the holder to one vote at any meeting of shareholders and such shares shall be voted with the common shares, and (ii) provides for fixed and cumulative dividends if, as and when declared by the board of directors of the company, in an amount equal to 12% per annum on the aggregate issue price of such preferred shares plus all unpaid accrued and accumulated dividends thereon. The issuance of the preferred shares is subject to final approval from the TSXV and other customary closing conditions. Major Estimate Revision • Sep 05
Consensus revenue estimates fall by 19% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from CA$218.7m to CA$177.9m. Forecast losses increased from -CA$0.04 to -CA$0.06 per share. Software industry in Canada expected to see average net income growth of 9.9% next year. Consensus price target down from CA$1.75 to CA$1.50. Share price fell 3.6% to CA$0.53 over the past week. Breakeven Date Change • Aug 31
Forecast to breakeven in 2023 The 2 analysts covering Voxtur Analytics expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of CA$11.5m in 2023. Average annual earnings growth of 140% is required to achieve expected profit on schedule. Reported Earnings • Aug 30
Second quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2022 results: CA$0.008 loss per share (up from CA$0.013 loss in 2Q 2021). Revenue: CA$38.1m (up 111% from 2Q 2021). Net loss: CA$4.14m (loss narrowed 31% from 2Q 2021). Revenue missed analyst estimates by 9.7%. Earnings per share (EPS) exceeded analyst estimates by 90%. Over the next year, revenue is forecast to grow 84%, compared to a 22% growth forecast for the Software industry in Canada. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has increased by 50% per year, which means it is well ahead of earnings. Duyuru • Aug 26
Voxtur Analytics Corp. to Report Q2, 2022 Results on Aug 29, 2022 Voxtur Analytics Corp. announced that they will report Q2, 2022 results After-Market on Aug 29, 2022 Breakeven Date Change • Aug 17
No longer forecast to breakeven The 2 analysts covering Voxtur Analytics no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of CA$12.5m in 2023. New consensus forecast suggests the company will make a loss of CA$10.8m in 2023. Duyuru • Jul 28
Voxtur Analytics Corp. Rolls Out Two New Desktop Appraisal Review Products Voxtur Analytics Corp. announced the rollout of two new desktop appraisal review products. Retrospective Appraisal Credibility Review (RACR) and RACRPro are comprehensive desktop appraisal tools that validate the credibility of the original appraisal value by aggregating and analyzing supplemental data points. The RACR products allow stakeholders throughout the lending cycle, from first lien origination in the primary market to portfolio management and the secondary market, to make decisions with confidence. RACR and RACRPro leverage the Voxtur Verified property database to generate a detailed analysis of an original appraisal, including a score of A to F. Reviewers can use this information to provide a revised value if they find the original to be inaccurate or stale. These tools were designed around USPAP standards and guide the reviewer through a series of required affirmations, including 24 distinct variables. Every RACR review is completed by a USPAP-trained QC Analyst and every RACRPro review is performed by a state-licensed appraiser. The Voxtur RACR products facilitate more efficient appraisal options with a focus on compliance. RACR and RACRPro are available in all 50 states. Duyuru • Jul 06
Voxtur Analytics Corp. (TSXV:VXTR) completed the acquisition of Municipal Tax Equity Consultants Inc. and MTE Paralegal Professional Corporation. Voxtur Analytics Corp. (TSXV:VXTR) executed a purchase agreement to acquire Municipal Tax Equity Consultants Inc. and MTE Paralegal Professional Corporation for CAD 4.4 million on June 6, 2022. Consideration for the acquisition will consist of up to CAD 4,400,000, to be paid In a combination of cash and common shares of the company, subject to adjustment prior to closing, with CAD 800,000 of the purchase price to be satisfied by the issuance of 808,080 common shares at closing, priced at CAD 0.99 per common share, and CAD 500,000 of the purchase price to be satisfied by the issuance of common shares subject to an escrow hold period of 18 months following closing of the acquisition, priced at CAD 0.99 per escrow share. The amount of escrow shares to be issued following the escrow hold period are subject to adjustment. In addition, CAD 500,000 of the cash portion of the purchase price will be subject to an escrow hold period of 18 months following closing of the acquisition. Completion of this acquisition is subject to the receipt of all required regulatory, corporate, and third-party approvals, including the approval of the TSX Venture Exchange, and is anticipated to close on or before July 1, 2022. Financially, the acquisition will add positive EBITDA immediately to the company on a standalone basis and will be able to achieve additional cost synergies by integrating MTE into Voxtur’s technology infrastructure.
Voxtur Analytics Corp. (TSXV:VXTR) completed the acquisition of Municipal Tax Equity Consultants Inc. and MTE Paralegal Professional Corporation on July 5, 2022. Duyuru • Jun 10
Voxtur Analytics Corp. (TSXV:VXTR) executed a purchase agreement to acquire Municipal Tax Equity Consultants Inc. and MTE Paralegal Professional Corporation for CAD 4.4 million. Voxtur Analytics Corp. (TSXV:VXTR) executed a purchase agreement to acquire Municipal Tax Equity Consultants Inc. and MTE Paralegal Professional Corporation for CAD 4.4 million on June 6, 2022. Consideration for the acquisition will consist of up to CAD 4,400,000, to be paid In a combination of cash and common shares of the company, subject to adjustment prior to closing, with CAD 800,000 of the purchase price to be satisfied by the issuance of 808,080 common shares at closing, priced at CAD 0.99 per common share, and CAD 500,000 of the purchase price to be satisfied by the issuance of common shares subject to an escrow hold period of 18 months following closing of the acquisition, priced at CAD 0.99 per escrow share. The amount of escrow shares to be issued following the escrow hold period are subject to adjustment. In addition, CAD 500,000 of the cash portion of the purchase price will be subject to an escrow hold period of 18 months following closing of the acquisition. Completion of this acquisition is subject to the receipt of all required regulatory, corporate, and third-party approvals, including the approval of the TSX Venture Exchange, and is anticipated to close on or before July 1, 2022. Financially, the acquisition will add positive EBITDA immediately to the company on a standalone basis and will be able to achieve additional cost synergies by integrating MTE into Voxtur’s technology infrastructure. Major Estimate Revision • Jun 06
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from CA$230.5m to CA$218.7m. 2022 losses expected to reduce from -CA$0.03 to -CA$0.02 per share. Software industry in Canada expected to see average net income decline 2.8% next year. Consensus price target down from CA$2.45 to CA$2.00. Share price fell 9.0% to CA$0.91 over the past week. Reported Earnings • Jun 02
First quarter 2022 earnings: EPS in line with expectations, revenues disappoint First quarter 2022 results: CA$0.023 loss per share. Revenue: CA$40.8m (up 182% from 1Q 2021). Net loss: CA$11.7m (loss widened 60% from 1Q 2021). Revenue missed analyst estimates by 11%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 96%, compared to a 25% growth forecast for the industry in Canada. Duyuru • May 27
Voxtur Analytics Corp. to Report Q1, 2022 Results on May 30, 2022 Voxtur Analytics Corp. announced that they will report Q1, 2022 results After-Market on May 30, 2022 Duyuru • May 14
Voxtur Analytics Corp. announced that it has received CAD 12.5052 million in funding On May 13, 2022, Voxtur Analytics Corp. closed the transaction. The common shares pursuant to the offering will be subject to a hold period expiring four months and one day from the date of issue. Duyuru • May 12
Voxtur Analytics Corp. announced that it expects to receive CAD 12.5052 million in funding Voxtur Analytics Corp. announced a fully subscribed private placement of 12,260,000 common shares at an issue price of CAD 1.02 per share for an aggregate gross proceeds of approximately CAD 12.5 million. The transaction will include participation from two institutional investors. The closing of the transaction is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the conditional approval of the TSX Venture Exchange. Major Estimate Revision • May 09
Consensus forecasts updated The consensus outlook for 2022 has been updated. Expected to report loss instead of -CA$0.03 instead of CA$0.03 per share profit previously forecast. . Revenue forecast unchanged at CA$230.5m Software industry in Canada expected to see average net income growth of 18% next year. Consensus price target of CA$2.45 unchanged from last update. Share price fell 15% to CA$1.05 over the past week. Reported Earnings • May 03
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: CA$0.076 loss per share (down from CA$0.049 loss in FY 2020). Revenue: CA$96.0m (up 368% from FY 2020). Net loss: CA$32.1m (loss widened 420% from FY 2020). Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) also missed analyst estimates by 33%. Over the next year, revenue is forecast to grow 140%, compared to a 156% growth forecast for the industry in Canada. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 168 percentage points per year, which is a significant difference in performance. Price Target Changed • Apr 27
Price target increased to CA$2.45 Up from CA$1.50, the current price target is an average from 2 analysts. New target price is 91% above last closing price of CA$1.29. Stock is up 55% over the past year. The company is forecast to post a net loss per share of CA$0.06 next year compared to a net loss per share of CA$0.049 last year. Board Change • Apr 27
High number of new and inexperienced directors There are 9 new directors who have joined the board in the last 3 years. The company's board is composed of: 9 new directors. No experienced directors. 1 highly experienced director. Executive Chairman Gary Yeoman is the most experienced director on the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Recent Insider Transactions • Apr 15
Insider recently sold CA$108k worth of stock On the 12th of April, Jeff Young sold around 90k shares on-market at roughly CA$1.20 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$6.9m more than they bought in the last 12 months. Duyuru • Apr 09
Voxtur Analytics Corp., Annual General Meeting, Jun 14, 2022 Voxtur Analytics Corp., Annual General Meeting, Jun 14, 2022.