Recent Insider Transactions • May 29
Founder recently bought US$65k worth of stock On the 27th of May, Brian Balbirnie bought around 10k shares on-market at roughly US$6.46 per share. This transaction amounted to 1.6% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth US$101k. Brian has been a buyer over the last 12 months, purchasing a net total of US$90k worth in shares. Recent Insider Transactions • May 27
Independent Director recently bought US$101k worth of stock On the 18th of May, Graeme Rein bought around 15k shares on-market at roughly US$6.80 per share. This transaction amounted to 23% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$144k more in shares than they have sold in the last 12 months. Major Estimate Revision • May 19
Consensus EPS estimates fall by 583% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from US$23.8m to US$22.4m. Losses expected to increase from US$0.06 per share to US$0.41. Software industry in the US expected to see average net income growth of 27% next year. Consensus price target down from US$13.50 to US$12.50. Share price fell 20% to US$6.45 over the past week. Reported Earnings • May 14
First quarter 2026 earnings: EPS and revenues miss analyst expectations First quarter 2026 results: US$0.16 loss per share (improved from US$0.20 loss in 1Q 2025). Revenue: US$5.33m (down 2.7% from 1Q 2025). Net loss: US$611.0k (loss narrowed 20% from 1Q 2025). Revenue missed analyst estimates by 7.2%. Earnings per share (EPS) also missed analyst estimates by 167%. Revenue is forecast to grow 2.6% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Software industry in the US. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 30% per year, which means it has not declined as severely as earnings. Price Target Changed • May 13
Price target decreased by 11% to US$12.50 Down from US$14.00, the current price target is an average from 2 analysts. New target price is 80% above last closing price of US$6.93. Stock is down 22% over the past year. The company posted a net loss per share of US$0.40 last year. New Risk • May 12
New major risk - Revenue and earnings growth Earnings have declined by 66% 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 66% per year over the past 5 years. Minor Risk Market cap is less than US$100m (US$30.4m market cap). Duyuru • May 04
ACCESS Newswire Inc., Annual General Meeting, Jun 26, 2026 ACCESS Newswire Inc., Annual General Meeting, Jun 26, 2026. Reported Earnings • Mar 20
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: US$0.40 loss per share (improved from US$3.47 loss in FY 2024). Revenue: US$22.6m (down 1.9% from FY 2024). Net loss: US$1.56m (loss narrowed 88% from FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates significantly. Revenue is forecast to grow 6.5% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Software industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 46 percentage points per year, which is a significant difference in performance. Duyuru • Dec 05
ACCESS Newswire Inc. (NYSEAM:ACCS) announces an Equity Buyback for $1 million worth of its shares. ACCESS Newswire Inc. (NYSEAM:ACCS) announces a share repurchase program. Under the program, the company will repurchase up to $1 million worth of its shares. The program will be funded from the company's cash on hand and anticipated cash flows from operations. As of December 3, 3035, company had 3,868,826 shares of common stock outstanding. Buy Or Sell Opportunity • Nov 17
Now 31% undervalued after recent price drop Over the last 90 days, the stock has fallen 26% to US$8.00. The fair value is estimated to be US$11.54, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.0% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Nov 14
Third quarter 2025 earnings: EPS exceeds analyst expectations Third quarter 2025 results: US$0.012 loss per share (improved from US$0.12 loss in 3Q 2024). Revenue: US$5.72m (down 18% from 3Q 2024). Net loss: US$45.0k (loss narrowed 90% from 3Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 67%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Software industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 73 percentage points per year, which is a significant difference in performance. New Risk • Nov 12
New major risk - Revenue and earnings growth Earnings have declined by 70% 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 70% per year over the past 5 years. Minor Risk Market cap is less than US$100m (US$34.4m market cap). Reported Earnings • Aug 13
Second quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2025 results: US$0.062 loss per share (down from US$0.002 profit in 2Q 2024). Revenue: US$5.62m (down 27% from 2Q 2024). Net loss: US$239.0k (down US$246.0k from profit in 2Q 2024). Revenue missed analyst estimates by 3.6%. Earnings per share (EPS) exceeded analyst estimates by 4.0%. Revenue is forecast to grow 7.5% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Software industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 92 percentage points per year, which is a significant difference in performance. New Risk • Aug 12
New major risk - Revenue and earnings growth Earnings have declined by 66% 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 66% per year over the past 5 years. Minor Risk Market cap is less than US$100m (US$46.6m market cap). Reported Earnings • May 15
First quarter 2025 earnings released: US$0.20 loss per share (vs US$0.036 loss in 1Q 2024) First quarter 2025 results: US$0.20 loss per share (further deteriorated from US$0.036 loss in 1Q 2024). Revenue: US$5.48m (down 21% from 1Q 2024). Net loss: US$765.0k (loss widened 450% from 1Q 2024). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Software industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 100 percentage points per year, which is a significant difference in performance. Duyuru • May 01
ACCESS Newswire Inc., Annual General Meeting, Jun 13, 2025 ACCESS Newswire Inc., Annual General Meeting, Jun 13, 2025. New Risk • Mar 25
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 20% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (20% operating cash flow to total debt). Earnings have declined by 45% per year over the past 5 years. Minor Risk Market cap is less than US$100m (US$35.5m market cap). Reported Earnings • Mar 25
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: US$3.47 loss per share (down from US$0.20 profit in FY 2023). Revenue: US$23.1m (down 31% from FY 2023). Net loss: US$13.3m (down US$14.0m from profit in FY 2023). Revenue missed analyst estimates by 20%. Earnings per share (EPS) also missed analyst estimates significantly. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Dec 30
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 23% to US$8.69. The fair value is estimated to be US$10.88, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Nov 08
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: US$0.12 loss per share (down from US$0.072 profit in 3Q 2023). Revenue: US$6.95m (down 8.1% from 3Q 2023). Net loss: US$466.0k (down 271% from profit in 3Q 2023). Revenue missed analyst estimates by 2.6%. Earnings per share (EPS) also missed analyst estimates by 200%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 47 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 09
Second quarter 2024 earnings released: EPS: US$0.002 (vs US$0.36 in 2Q 2023) Second quarter 2024 results: EPS: US$0.002 (down from US$0.36 in 2Q 2023). Revenue: US$7.69m (down 20% from 2Q 2023). Net income: US$7.0k (down 100% from 2Q 2023). Profit margin: 0.1% (down from 14% in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 30% per year, which means it has not declined as severely as earnings. Duyuru • Jul 01
Issuer Direct Corporation Announces Board Appointments Issuer Direct Corporation announced it has appointed Wes Pollard and Joe Staples as new independent members of its Board of Directors. As of July 1, 2024, the Issuer Direct Board of Directors will be comprised of the following persons: Graeme P. Rein, CFA, CPA, Principal at Yorkmont Capital Management, LLC.Mr. Rein will continue to serve as a Director and the Audit Committee Chairperson. Wes Pollard, CPA, Chief Financial Officer of Primeritus Financial Services. As a Director, Mr. Pollard will serve as a member of the Audit Committee and Compensation Committee. Joe Staples, Experienced Chief Marketing Officer and Adjunct Professor of Marketing at Utah Valley University. As a Director, Mr. Staples will serve as the Compensation Committee Chairperson. Brian R. Balbirnie, Founder and Chief Executive Officer. Mr. Balbirnie will continue as a Director and resume as Chairperson of the Board, a role he held for seven years, from the company's formation until July 2013. Mr.Pollard is a finance executive who is currently serving as the Chief Financial Officer of Primeritus Financial Services, a private equity backed company in the automotive financing industry. He has approximately thirty years of accounting and finance experience, much of which has been at the CFO level, including private, venture-backed, and publicly traded companies. These companies include Digital Lifestyle Outfitters (acquired by Philips Electronics), Issuer Direct Corp, kSep Systems (acquired by Sartorious, Inc) and MobileGuard (acquired by Smarsh Inc.), among others. Mr. Pollard also served as the Managing Partner of TechCXO RTP and worked in the audit and consulting practices of PricewaterhouseCoopers. Mr. Pollard received his BA in Business Management and Economics from North Carolina State University and his Master of Accounting from the University of North Carolina at Chapel Hill. Mr. Staples has worked as a senior B2B marketing executive (CMO/SVP Marketing) for 22 years with particular expertise in SaaS, marketing technology, employee engagement and customer experience sectors. Mr. Staples served as a marketing executive officer for two publicly traded companies, Captaris Inc. (NASDAQ:CAPA) and Interactive Intelligence Group Inc. (NASDAQ:ININ), and two companies who have been acquired for over $1B, Interactive Intelligence Group Inc. (NASDAQ:ININ) and Workfront Inc. Mr. Staples is currently an adjunct professor of marketing at Utah Valley University and serves in a marketing advisory/consulting capacity for several technology companies. Valuation Update With 7 Day Price Move • May 16
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to US$10.19, the stock trades at a trailing P/E ratio of 50.5x. Average trailing P/E is 45x in the Software industry in the US. Total loss to shareholders of 63% over the past three years. Reported Earnings • May 13
First quarter 2024 earnings: EPS and revenues miss analyst expectations First quarter 2024 results: US$0.036 loss per share (improved from US$0.038 loss in 1Q 2023). Revenue: US$6.96m (down 19% from 1Q 2023). Net loss: US$139.0k (loss narrowed 3.5% from 1Q 2023). Revenue missed analyst estimates by 19%. Earnings per share (EPS) were also behind analyst expectations. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 26% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • May 13
Now 30% undervalued after recent price drop Over the last 90 days, the stock has fallen 33% to US$10.00. The fair value is estimated to be US$14.20, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has declined by 36%. Duyuru • May 03
Issuer Direct Corporation to Report Q1, 2024 Results on May 09, 2024 Issuer Direct Corporation announced that they will report Q1, 2024 results on May 09, 2024 Duyuru • May 01
Issuer Direct Corporation, Annual General Meeting, Jun 14, 2024 Issuer Direct Corporation, Annual General Meeting, Jun 14, 2024, at 09:00 US Eastern Standard Time. Location: One Glenwood Avenue, Suite 1001 Raleigh North Carolina United States Agenda: To elect four directors nominated by board of directors; to consider the compensation of named executive officers; to consider the frequency of future advisory votes on the compensation of named executive officers; to ratify the appointment of cherry Bekaert LLP as independent registered public accounting firm for the year ending December 31, 2024; and to transact such other business as may properly come before the meeting or any postponement or adjournment thereof. Duyuru • Mar 26
Issuer Direct Corporation Announces the Launch of the ACCESSWIRE Media Suite, an All-in-One Solution for Media Engagement Issuer Direct Corporation reported that its ACCESSWIRE brand recently launched its new Media Suite. This powerful platform allows Public Relations professionals to engage the media, pitch journalists, monitor brands, incorporate a branded media room and share news via its press release distribution services with a single login. As the digital landscape continues to evolve, standing out and connecting with the right journalists has become increasingly challenging, while at the same time, imperative for a brand to build awareness and its customer base. With this understanding, ACCESSWIRE studied traditional Public Relations workflows and created a solution that addresses real world challenges and meets and exceeds consumer needs. ACCESSWIRE's brand-new Media Suite includes its Media Database, Media Pitching, Media Monitoring and Media Room tools. These products provide Public Relations professionals with the opportunity to find the right media contacts, amplify their stories with strategic media pitching, keep tabs on the latest mentions of their brand, competitors and industry, and curate their best news in one convenient location - all with one login. Additionally, unlike many of the other solutions in the market, ACCESSWIRE's Media Suite has no per-seat license fees, meaning that it will accommodate an unlimited number of users. It also touts a seamless integration with its press release distribution platform, which allows users to distribute press releases to global news outlets and easily attach their content to their media pitches. ACCESSWIRE offers Public Relations professionals an advantage by harnessing the power of artificial intelligence (AI) in its Media Database. Through a blend of AI and human review, journalists are added and removed weekly, ensuring customers have the most up-to-date information, making it the most accurate database on the market. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to US$11.76, the stock trades at a forward P/E ratio of 74x. Average trailing P/E is 47x in the Software industry in the US. Total loss to shareholders of 53% over the past three years. New Risk • Mar 12
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 42% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (15% operating cash flow to total debt). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.3% net profit margin). Market cap is less than US$100m (US$51.0m market cap). Reported Earnings • Mar 10
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: US$0.20 (down from US$0.52 in FY 2022). Revenue: US$33.4m (up 42% from FY 2022). Net income: US$766.0k (down 60% from FY 2022). Profit margin: 2.3% (down from 8.2% in FY 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.9%. Earnings per share (EPS) also missed analyst estimates by 52%. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Mar 09
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 11% to US$13.55. The fair value is estimated to be US$17.58, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has declined by 18%. Valuation Update With 7 Day Price Move • Dec 29
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to US$18.13, the stock trades at a forward P/E ratio of 75x. Average forward P/E is 53x in the Software industry in the US. Total returns to shareholders of 3.5% over the past three years. Recent Insider Transactions • Nov 19
Founder recently bought US$58k worth of stock On the 16th of November, Brian Balbirnie bought around 4k shares on-market at roughly US$15.47 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Brian's only on-market trade for the last 12 months. New Risk • Nov 16
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 23% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (16% operating cash flow to total debt). Earnings are forecast to decline by an average of 52% per year for the foreseeable future. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.2% net profit margin). Significant insider selling over the past 3 months (US$125k sold). Market cap is less than US$100m (US$58.9m market cap). New Risk • Nov 15
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 52% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Debt is not well covered by operating cash flow (16% operating cash flow to total debt). Earnings are forecast to decline by an average of 52% per year for the foreseeable future. Minor Risks Profit margins are more than 30% lower than last year (4.2% net profit margin). Significant insider selling over the past 3 months (US$125k sold). Market cap is less than US$100m (US$57.2m market cap). Reported Earnings • Nov 11
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: EPS: US$0.072 (down from US$0.19 in 3Q 2022). Revenue: US$7.57m (up 43% from 3Q 2022). Net income: US$273.0k (down 60% from 3Q 2022). Profit margin: 3.6% (down from 13% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 15%. Earnings per share (EPS) also missed analyst estimates by 46%. Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 12% per year. New Risk • Aug 28
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: US$125k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Minor Risks High level of debt (42% net debt to equity). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.9% net profit margin). Shareholders have been diluted in the past year (5.5% increase in shares outstanding). Significant insider selling over the past 3 months (US$125k sold). Market cap is less than US$100m (US$76.1m market cap). New Risk • Aug 14
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 21% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks High level of debt (42% net debt to equity). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.9% net profit margin). Shareholders have been diluted in the past year (5.5% increase in shares outstanding). Market cap is less than US$100m (US$82.6m market cap). Reported Earnings • Aug 11
Second quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2023 results: EPS: US$0.36 (up from US$0.23 in 2Q 2022). Revenue: US$9.65m (up 66% from 2Q 2022). Net income: US$1.36m (up 62% from 2Q 2022). Profit margin: 14% (in line with 2Q 2022). Revenue missed analyst estimates by 6.8%. Earnings per share (EPS) exceeded analyst estimates by 50%. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 7% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Aug 04
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.0% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (19% operating cash flow to total debt). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.7% net profit margin). Shareholders have been diluted in the past year (5.0% increase in shares outstanding). Market cap is less than US$100m (US$83.4m market cap). Duyuru • Jun 12
Issuer Direct Corporation Announces Board and Committee Changes Issuer Direct Corporation announced that immediately after the annual meeting held on June 7, 2023, Mr. Michael Nowlan assumed the role of Chairperson of the Board of Directors of the Company and the Audit Committee and Compensation Committee of the Board were reconstituted as follows: Audit Committee: Graeme Rein (Chair), Patrick Galleher and Michael Nowlan. Compensation Committee: Marti Beller Lazear (Chair) and Patrick Galleher. New Risk • Jun 08
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 27% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (19% operating cash flow to total debt). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.7% net profit margin). Market cap is less than US$100m (US$71.8m market cap). Price Target Changed • May 14
Price target decreased by 10.0% to US$27.00 Down from US$30.00, the current price target is provided by 1 analyst. New target price is 30% above last closing price of US$20.82. Stock is up 2.8% over the past year. The company posted earnings per share of US$0.52 last year. Reported Earnings • May 13
First quarter 2023 earnings: EPS misses analyst expectations First quarter 2023 results: US$0.038 loss per share (down from US$0.14 profit in 1Q 2022). Revenue: US$8.62m (up 63% from 1Q 2022). Net loss: US$144.0k (down 128% from profit in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 03
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to US$20.32, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 38x in the Software industry in the US. Total returns to shareholders of 116% over the past three years. Major Estimate Revision • Mar 09
Consensus EPS estimates fall by 29% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from US$1.35 to US$0.96 per share. Revenue forecast steady at US$37.9m. Net income forecast to grow 101% next year vs 11% growth forecast for Software industry in the US. Consensus price target of US$30.00 unchanged from last update. Share price fell 9.6% to US$23.19 over the past week. Reported Earnings • Mar 03
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: EPS: US$0.52 (down from US$0.87 in FY 2021). Revenue: US$23.5m (up 7.5% from FY 2021). Net income: US$1.93m (down 41% from FY 2021). Profit margin: 8.2% (down from 15% in FY 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) missed analyst estimates by 33%. Over the last 3 years on average, earnings per share has increased by 31% per year whereas the company’s share price has increased by 36% per year. Duyuru • Jan 11
Issuer Direct Corporation Announces the Appointment of Mark J. Lloyd as the Company's Chief Technology Officer Issuer Direct Corporation announced the appointment of Mark J. Lloyd as the Company's Chief Technology Officer (CTO). Mark brings deep technical experience with a background in heavy technology implementation and integration, architecture, and productization. In his role, he'll serve as a key member of the management team as the Company continues to integrate its acquisition of Newswire.com, as well as other potential M&A opportunities in the future. As the CTO, Mark will lead a team of approximately twenty R&D, DevOps, and IT professionals globally. Most recently, Mark served as the Senior Vice President of Product Strategy at Lear Corporation, where his team developed an advanced connected vehicle platform and deployed it to millions of vehicles. Prior to that, Mark served five years at General Motors (GM) as the Consumer Online Officer, where he was key technology leader for GM's transition to 1-to-1 customer interaction. Earlier in Mark's career he spent 25 years working for firms like HTC, Ericsson, and AT&T Bell Labs. Recent Insider Transactions • Nov 29
Independent Director recently bought US$54k worth of stock On the 28th of November, James Galleher bought around 2k shares on-market at roughly US$26.94 per share. This transaction amounted to 3.5% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$180k more in shares than they have sold in the last 12 months. Price Target Changed • Nov 16
Price target increased to US$30.00 Up from US$26.00, the current price target is provided by 1 analyst. New target price is 20% above last closing price of US$25.05. Stock is up 0.4% over the past year. The company is forecast to post earnings per share of US$0.78 for next year compared to US$0.87 last year. Valuation Update With 7 Day Price Move • Nov 10
Investor sentiment improved over the past week After last week's 21% share price gain to US$27.07, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 39x in the Software industry in the US. Total returns to shareholders of 155% over the past three years. Reported Earnings • Nov 05
Third quarter 2022 earnings released: EPS: US$0.19 (vs US$0.27 in 3Q 2021) Third quarter 2022 results: EPS: US$0.19 (down from US$0.27 in 3Q 2021). Revenue: US$5.28m (down 3.4% from 3Q 2021). Net income: US$686.0k (down 33% from 3Q 2021). Profit margin: 13% (down from 19% in 3Q 2021). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 48% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Software industry in the US. 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 33% per year, which means it is significantly lagging earnings growth. Price Target Changed • Oct 07
Price target decreased to US$26.00 Down from US$30.00, the current price target is provided by 1 analyst. New target price is 30% above last closing price of US$19.93. Stock is down 23% over the past year. The company is forecast to post earnings per share of US$0.81 for next year compared to US$0.87 last year. Buying Opportunity • Sep 13
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 20%. The fair value is estimated to be US$24.39, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 54%. Valuation Update With 7 Day Price Move • Sep 02
Investor sentiment deteriorated over the past week After last week's 15% share price decline to US$20.87, the stock trades at a trailing P/E ratio of 25.1x. Average forward P/E is 45x in the Software industry in the US. Total returns to shareholders of 99% over the past three years. Reported Earnings • Aug 05
Second quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2022 results: EPS: US$0.23 (down from US$0.29 in 2Q 2021). Revenue: US$5.81m (up 1.5% from 2Q 2021). Net income: US$841.0k (down 24% from 2Q 2021). Profit margin: 14% (down from 19% in 2Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 3.1%. Earnings per share (EPS) exceeded analyst estimates by 10.0%. 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 36% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment deteriorated over the past week After last week's 16% share price decline to US$21.28, the stock trades at a trailing P/E ratio of 24.7x. Average forward P/E is 37x in the Software industry in the US. Total returns to shareholders of 84% over the past three years. Reported Earnings • May 06
First quarter 2022 earnings: EPS exceeds analyst expectations First quarter 2022 results: EPS: US$0.14 (down from US$0.14 in 1Q 2021). Revenue: US$5.29m (up 6.2% from 1Q 2021). Net income: US$516.0k (down 5.3% from 1Q 2021). Profit margin: 9.8% (down from 11% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 63%. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Duyuru • May 02
Issuer Direct Corporation, Annual General Meeting, Jun 08, 2022 Issuer Direct Corporation, Annual General Meeting, Jun 08, 2022, at 09:00 Eastern Daylight. Agenda: To elect the directors; to ratify the appointment of cherry bekaert llp as independent registered public accounting firm for the year ending December 31, 2022; and to consider other matters if any. Buying Opportunity • Apr 29
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 21%. The fair value is estimated to be US$30.58, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 59%. Revenue is forecast to grow by 13% in a year. Earnings is forecast to grow by 6.3% in the next year. Recent Insider Transactions Derivative • Mar 28
VP of Finance & Controller exercised options to buy US$219k worth of stock. On the 22nd of March, Steven Knerr exercised options to buy 8k shares at a strike price of around US$7.76, costing a total of US$58k. This transaction amounted to 35% of their direct individual holding at the time of the trade. Since June 2021, Steven has owned 24.00k shares directly. Company insiders have collectively sold US$44k more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Mar 18
Independent Chairman of the Board recently sold US$55k worth of stock On the 16th of March, William Everett sold around 2k shares on-market at roughly US$27.26 per share. This was the largest sale by an insider in the last 3 months. William has been a seller over the last 12 months, reducing personal holdings by US$241k. Duyuru • Mar 06
Issuer Direct Corporation (NYSEAM:ISDR) announces an Equity Buyback for $5 million worth of its shares. Issuer Direct Corporation (NYSEAM:ISDR) announces a share repurchase program. Under the program, the company will repurchase up to $5 million worth of its shares. The program will be funded from the company's existing cash flow from operations. Reported Earnings • Mar 05
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: US$0.87 (up from US$0.56 in FY 2020). Revenue: US$21.9m (up 18% from FY 2020). Net income: US$3.29m (up 56% from FY 2020). Profit margin: 15% (up from 11% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) missed analyst estimates by 4.4%. Over the next year, revenue is forecast to grow 13%, compared to a 48% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment improved over the past week After last week's 18% share price gain to US$30.50, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 42x in the Software industry in the US. Total returns to shareholders of 144% over the past three years. Valuation Update With 7 Day Price Move • Nov 19
Investor sentiment improved over the past week After last week's 17% share price gain to US$29.20, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 51x in the Software industry in the US. Total returns to shareholders of 156% over the past three years. Reported Earnings • Nov 06
Third quarter 2021 earnings released: EPS US$0.27 (vs US$0.21 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$5.47m (up 12% from 3Q 2020). Net income: US$1.02m (up 30% from 3Q 2020). Profit margin: 19% (up from 16% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 08
Second quarter 2021 earnings released: EPS US$0.29 (vs US$0.21 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$5.72m (up 17% from 2Q 2020). Net income: US$1.11m (up 43% from 2Q 2020). Profit margin: 19% (up from 16% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Aug 07
Consensus EPS estimates increase to US$0.83 The consensus outlook for earnings per share (EPS) in 2021 has improved. 2021 revenue forecast increased from US$21.1m to US$21.5m. EPS estimate increased from US$0.74 to US$0.83 per share. Net income forecast to grow 34% next year vs 0.8% growth forecast for Software industry in the US. Consensus price target of US$30.00 unchanged from last update. Share price was steady at US$27.65 over the past week. Board Change • Jul 31
High number of new directors Director Graeme Rein was the last director to join the board, commencing their role in 2021. Duyuru • Jun 28
Issuer Direct Corporation(NYSEAM:ISDR) dropped from Russell 3000E Value Index Issuer Direct Corporation(NYSEAM:ISDR) dropped from Russell 3000E Value Index Major Estimate Revision • May 13
Consensus EPS estimates increase to US$0.74 The consensus outlook for earnings per share (EPS) in 2021 has improved. 2021 revenue forecast increased from US$20.5m to US$21.1m. EPS estimate increased from US$0.63 to US$0.74 per share. Net income forecast to grow 24% next year vs 6.1% growth forecast for Software industry in the US. Consensus price target up from US$24.00 to US$30.00. Share price fell 5.2% to US$27.49 over the past week. Reported Earnings • May 09
First quarter 2021 earnings released: EPS US$0.14 (vs US$0.06 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$4.98m (up 24% from 1Q 2020). Net income: US$545.0k (up 141% from 1Q 2020). Profit margin: 11% (up from 5.6% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment improved over the past week After last week's 16% share price gain to US$28.83, the stock trades at a forward P/E ratio of 46x. Average forward P/E is 71x in the Software industry in the US. Total returns to shareholders of 66% over the past three years. Recent Insider Transactions • Mar 26
Independent Chairman of the Board recently sold US$139k worth of stock On the 22nd of March, William Everett sold around 6k shares on-market at roughly US$23.44 per share. This was the largest sale by an insider in the last 3 months. William has been a seller over the last 12 months, reducing personal holdings by US$277k. Recent Insider Transactions Derivative • Mar 26
Independent Chairman of the Board exercised options to buy US$115k worth of stock. On the 22nd of March, William Everett exercised 8.00k options at around US$17.40, then sold 2.66k of them at US$23.02 each and kept the remainder. Since June 2020, William's direct individual holding has increased from 29.23k shares to 30.40k. Company insiders have collectively sold US$334k more than they bought, via options and on-market transactions in the last 12 months. Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment improved over the past week After last week's 15% share price gain to US$23.50, the stock is trading at a trailing P/E ratio of 41.9x, up from the previous P/E ratio of 36.4x. This compares to an average P/E of 49x in the Software industry in the US. Total returns to shareholders over the past three years are 46%. Reported Earnings • Mar 06
Full year 2020 earnings released: EPS US$0.56 (vs US$0.18 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: US$18.5m (up 14% from FY 2019). Net income: US$2.11m (up 207% from FY 2019). Profit margin: 11% (up from 4.2% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Mar 06
Revenue beats expectations Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 7.3%, compared to a 17% growth forecast for the Software industry in the US. Duyuru • Feb 25
Issuer Direct Corporation Announces Upgrades to its Subscription Platform Issuer Direct Corporation announced it has upgraded its platform and customers to its next generation engagement and storytelling platform. The company's subscription offerings will bring to life the curation and collaboration of a story in a real-time, secure platform. The new offering is being included at no additional cost to customers and is expected to further separate ACCESSWIRE as the most technologically advanced newswire. The Company's reporting & analytics module allows customers to monitor registrations, attendance, advanced analytics as well as provide easier access to customized reports, transcripts and engagement scoring. This robust reporting and analytics module will allow customers to turn information into insights and allow enterprises to monitor all aspects of their business operations. In addition, events business, including virtual conferences, webcasts, in-person conferences and Analyst/Shareholder days delivers enhanced real-time engagement, monitoring and reporting tools. Current customers will see these features enabled in their platform beginning next month, and new customers will also benefit from these features immediately with all new subscriptions. Is New 90 Day High Low • Feb 10
New 90-day high: US$23.75 The company is up 1.0% from its price of US$23.50 on 11 November 2020. The American market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is up 17% over the same period. Valuation Update With 7 Day Price Move • Jan 13
Investor sentiment improved over the past week After last week's 23% share price gain to US$22.01, the stock is trading at a trailing P/E ratio of 44.6x, up from the previous P/E ratio of 36.4x. This compares to an average P/E of 56x in the Software industry in the US. Total returns to shareholders over the past three years are 29%. Is New 90 Day High Low • Dec 29
New 90-day low: US$18.50 The company is down 7.0% from its price of US$19.82 on 29 September 2020. The American market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is up 12% over the same period. Recent Insider Transactions • Nov 16
Independent Director recently sold US$244k worth of stock On the 10th of November, James Galleher sold around 11k shares on-market at roughly US$21.70 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$678k more than they bought in the last 12 months. Recent Insider Transactions Derivative • Nov 16
Independent Director exercised options to buy US$371k worth of stock. On the 12th of November, James Galleher exercised options to buy 16.00k shares at a strike price of around US$15.20, costing a total of US$243k. This transaction amounted to 62% of their direct individual holding at the time of the trade. Since March 2020, James' direct individual holding has increased from 31.00k shares to 41.76k. Company insiders have collectively sold US$254k more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Nov 08
Independent Chairman of the Board recently sold US$104k worth of stock On the 3rd of November, William Everett sold around 5k shares on-market at roughly US$21.57 per share. This was the largest sale by an insider in the last 3 months. William has been a seller over the last 12 months, reducing personal holdings by US$186k. Recent Insider Transactions Derivative • Nov 08
Independent Chairman of the Board exercised options to buy US$177k worth of stock. On the 3rd of November, William Everett exercised options to buy 8.00k shares at a strike price of around US$13.00, costing a total of US$104k. This transaction amounted to 36% of their direct individual holding at the time of the trade. Since December 2019, William's direct individual holding has increased from 29.23k shares to 33.23k. Company insiders have collectively sold US$163k more than they bought, via options and on-market transactions in the last 12 months. Major Estimate Revision • Nov 05
Analysts increase EPS estimates to US$0.56 The 2020 consensus revenue estimate increased from US$17.8m to US$18.2m. The earnings per share estimate also received an upgrade from US$0.45 to US$0.56 for the same period. Net income is expected to grow by 24% next year compared to 5.7% growth forecast for the Software industry in the US. The consensus price target increased from US$18.00 to US$22.00. Share price is up 7.7% to US$22.50 over the past week. Is New 90 Day High Low • Nov 05
New 90-day high: US$22.50 The company is up 32% from its price of US$17.10 on 07 August 2020. The American market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 8.0% over the same period. Analyst Estimate Surprise Post Earnings • Oct 31
Third-quarter earnings released: Revenue and earnings beat expectations Third-quarter revenue exceeded analyst estimates by 11% at US$4.88m. Earnings per share (EPS) also surpassed analyst estimates by 110% at US$0.21. Revenue is forecast to grow 9.7% over the next year, compared to a 17% growth forecast for the Software industry in the US. Reported Earnings • Oct 31
Third quarter earnings released Over the last 12 months the company has reported total profits of US$1.86m, up 172% from the prior year. Total revenue was US$17.7m over the last 12 months, up 11% from the prior year.