Thursday, March 31, 2022

QuoteMedia Inc. (QMCI)
Gaining Revenue Traction

QuoteMedia, based in Fountain Hills, Arizona, provides cloud-based financial data, market news feeds, and financial software solutions.  Its customers include financial service companies, online brokerages, clearing firms, banks, media portals, public corporations and individual investors.  The company provides a single source solution providing products such as streaming quotes, charting, historical data, technical analysis, news and research.  Information can customized and provided to multiple platforms including terminals and mobile devices.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Patrick McCann, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Mixed Q4 results. Total company revenues increased a solid 20% to $3.9 million, slightly lighter than the $4.0 million we were looking for. The variance was attributable to slower than expected growth at its Corporate Quotestream business, which increased revenues 20.8%, below our 39.5% growth rate. Adj. EBITDA was better than expected at $555,000, versus our $501,000 estimate, largely due to lower than expected SG&A costs.

Promising revenue outlook.  The latest quarter results reflected a sequential decline in the rate of revenue growth, 19.9%, versus Q3 growth of 21.7% and Q2 revenue growth of 26.5%. However, management indicated that it has signed contracts with several large customers, providing compelling revenue visibility into 2023 …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.