Thursday, November 11, 2021

QuoteMedia Inc. (QMCI)
More Fish Appear To Be Nibbling

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.

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

Close enough. Total Q3 revenue increased a solid 21.6% to $3.819 million, compared with our $3.940 million estimate. Each of the company’s segments were a hair below our estimates, with its Individual Quotestream segment having the largest variance, with revenues of $0.571 million compared with our $0.625 million estimate. Adjusted EBITDA increased a strong 99% to $540,000, slightly below our estimate of $575,000.


Gross margin expansion was deceiving.  Q3 gross margins were 46.8% compared with 45.7% in the year earlier quarter, but reflected non-recurring credits which benefited margins over 200 basis points. While gross margins should increase as revenues grow, margin expansion will be influenced by product mix. We assume base gross margins of 44% …

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.