Monday, October 23, 2023
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Highlights from investor meetings. This report provides highlights from a non-deal roadshow with investors last week in New York, Miami, and Boca Raton with Keith Smith, Co-Founder and President, and Diana Diaz, Chief Financial Officer.
Reiterating full year guidance. Management appeared sanguine about at least hitting expectations on revenue and operating cash flow (adj. EBITDA) for the full year 2023. Revenues are expected to increase roughly 43% to $128.1 million, in line with management’s guidance. Adj. EBITDA in 2023 is expected to be $9.0 million, growing 25% to $11.3 million in 2024.
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