Category: Financial Services

Bitcoin Depot (BTM) – Rolling Out the Kiosks

Posted on by cpereira@noblefcm.com


Wednesday, August 14, 2024

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Patrick McCann, CFA, Research Analyst, Noble Capital Markets, Inc.

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

Q2 beats expectations. The Company reported Q2 revenue of $163.1 million, beating our estimate of $147.6 million by 10.5%, and adj. EBITDA of $12.7 million, 37.1% above our estimate of $9.2 million. While revenue and adj. EBITDA were down 17.4% and 36.1% from the prior year period, respectively, we view 2024 as a transitional year and the Q2 results favorably. 

Kiosk deployment ahead of schedule.  Importantly, the company had 8,068 kiosks deployed at the end of Q2, surpassing its goal of having 8,000 kiosks deployed by year end. With more than 10,000 total owned kiosks (deployed and warehoused) and a strong pipeline of potential new partners, we are estimating the number of kiosk deployed at year end to be 9,000.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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. 

Release – Bit Digital, Inc. Announces Date for Second Quarter 2024 Financial Results and Conference Call

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on BTBT

NEW YORK, August 12, 2024 /PRNewswire/ — Bit Digital, Inc. (Nasdaq: BTBT) (“Bit Digital” or the “Company”), a sustainable platform for digital assets and artificial intelligence (“AI”) infrastructure headquartered in New York, announced today that it will release its Second Quarter 2024 results on Monday, August 19, 2024, after the stock market closes. Senior management will host a live webcast and conference call to review the results on Tuesday, August 20, 2024, at 10 a.m. ET.

To register for the earnings call, please click here. Additionally, participants can join the conference call by dialing 1-800-289-0459 (passcode: 633917).

The Company will issue a press release regarding Second Quarter 2024 earnings prior to the conference call. The press release will be posted on the Bit Digital website at www.bit-digital.com.

About Bit Digital

Bit Digital, Inc. is a sustainable platform for digital assets and artificial intelligence (“AI”) infrastructure headquartered in New York City. Our bitcoin mining operations are located in the US, Canada, and Iceland. For additional information, please contact ir@bit-digital.com or visit our website at www.bit-digital.com.

Investor Notice 

Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under “Risk Factors” in Item 3.D of our most recent Annual Report on Form 20-F for the fiscal year ended December 31, 2023. If any material risk was to occur, our business, financial condition or results of operations would likely suffer. In that event, the value of our securities could decline and you could lose part or all of your investment. The risks and uncertainties we describe are not the only ones facing us. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. In addition, our past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results in the future. Future changes in the network-wide mining difficulty rate or bitcoin hash rate may also materially affect the future performance of Bit Digital’s production of bitcoin. Actual operating results will vary depending on many factors including network difficulty rate, total hash rate of the network, the operations of our facilities, the status of our miners, and other factors.

Safe Harbor Statement 

This press release may contain certain “forward-looking statements” relating to the business of Bit Digital, Inc., and its subsidiary companies. All statements, other than statements of historical fact included herein are “forward-looking statements.” These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects,” or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Release – Bit Digital, Inc. Announces Monthly Production Update for July 2024

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on BTBT

NEW YORK, August 6, 2024 /PRNewswire/ — Bit Digital, Inc. (Nasdaq: BTBT) (“Bit Digital” or the “Company”), a sustainable platform for digital assets and artificial intelligence (“AI”) infrastructure headquartered in New York, announced its unaudited digital asset production and corporate updates for the month of July 2024.

Corporate Highlights for July 2024

  • The Company had 256 servers actively generating revenue from its initial Bit Digital AI contract, as of July 31, 2024. The Company earned an estimated $4.3 million of unaudited revenue from this contract during the month of July 2024.
  • In July 2024, the Company produced 60.5 BTC, a 1.9% decrease compared to the prior month.
  • The Company’s active hash rate was approximately 2.46 EH/s as of July 31, 2024.
  • Treasury holdings of BTC and ETH were 641.8 and 27,274.4 with a fair market value of approximately $41.5 million and $88.1 million, respectively, on July 31, 2024.
  • The BTC equivalent1 of our digital asset holdings as of July 31, 2024, was approximately 2,009.0 or approximately $129.8 million.
  • The Company had cash and cash equivalents of $82.1 million and total liquidity (defined as cash and cash equivalents, USDC, and the fair market value of digital assets) of approximately $211.9 million, as of July 31, 2024.

Proof-of-Stake Highlights

  • The Company had approximately 17,184 ETH actively staked in native staking protocols as of July 31, 2024.
  • Bit Digital earned a blended APY of approximately 3.3% on its staked ETH position for the month of July 2024.
  • The Company earned aggregate staking rewards of approximately 47.5 ETH during July 2024.

Upcoming Events

  • 2024 Annual Gateway Conference, San Francisco, CA on September 4-5

About Bit Digital

Bit Digital, Inc. is a sustainable platform for digital assets and artificial intelligence (“AI”) infrastructure headquartered in New York City. Our bitcoin mining operations are located in the US, Canada, and Iceland. The Company has established a business line, Bit Digital AI, that offers specialized cloud-infrastructure services for artificial intelligence applications. For additional information, please contact ir@bit-digital.com or visit our website at www.bit-digital.com.

Investor Notice 

Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under “Risk Factors” in Item 3.D of our most recent Annual Report on Form 20-F for the fiscal year ended December 31, 2023. If any material risk was to occur, our business, financial condition or results of operations would likely suffer. In that event, the value of our securities could decline and you could lose part or all of your investment. The risks and uncertainties we describe are not the only ones facing us. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. In addition, our past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results in the future. Future changes in the network-wide mining difficulty rate or bitcoin hash rate may also materially affect the future performance of Bit Digital’s production of bitcoin. Actual operating results will vary depending on many factors including network difficulty rate, total hash rate of the network, the operations of our facilities, the status of our miners, and other factors.

Safe Harbor Statement 

This press release may contain certain “forward-looking statements” relating to the business of Bit Digital, Inc., and its subsidiary companies. All statements, other than statements of historical fact included herein are “forward-looking statements.” These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects,” or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Bit Digital (BTBT) – July Production Released

Posted on by cpereira@noblefcm.com


Wednesday, August 07, 2024

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

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

AI and Staking. Bit Digital had 256 servers generating revenue during the quarter and earned an estimated $4.3 million of revenue during the month. The staking side had approximately 17,184 ETH actively staked, flat with last month, and earned a blended APY of approximately 3.3% on its staked ETH in the month of July, slightly down from last month’s 3.5%.

Mining Side. The Company produced 60.5 BTC in the month, a slight 1.9% decrease from the previous month. The active hash rate was roughly 2.46 EH/s, a decline from 2.57 EH/s in June. With the active goal of 6.0 EH/s at the end of 2024, we anticipate a ramp up in the hash rate during the last few months of the year.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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. 

Release – Bitcoin Depot Expands BDCheckout Program to Six New States

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on BTM

Extending Service to 31 States, Providing Customers with More Access Points for Loading Cash into Their Bitcoin Depot Digital Wallets

ATLANTA, Aug. 05, 2024 (GLOBE NEWSWIRE) — Bitcoin Depot Inc. (“Bitcoin Depot” or the “Company”) (NASDAQ: BTM), a U.S.-based Bitcoin ATM (“BTM”) operator and leading fintech company, announced today the expansion of its BDCheckout program into six new states: Alaska, Arkansas, Illinois, North Carolina, Oregon, and Texas. This expansion increases the total footprint of BDCheckout to 31 states, allowing even more customers to conveniently load cash into their Bitcoin Depot digital wallets at major retail partners.

The BDCheckout program provides an in-app experience that allows customers to conveniently load cash into their Bitcoin Depot digital wallets directly at the cash register. Since its initial launch in 2022, BDCheckout has continuously expanded, now covering over 1,500 new locations in Alaska (27), Arkansas (112), Illinois (360), North Carolina (496), Oregon (145), and Texas (396). These additions increase Bitcoin Depot’s total number of BDCheckout locations to 7,723, significantly enhancing accessibility and convenience for its users and reinforcing Bitcoin Depot’s position as a market leader in cryptocurrency accessibility.

“Expanding BDCheckout to these six new states marks a significant milestone in our mission to make cryptocurrency accessible to everyone,” said Bitcoin Depot CEO Brandon Mintz. “As we continue this remarkable year of growth, our focus remains on delivering unparalleled convenience and superior service to our customers by providing —a simpler way to buy Bitcoin quickly, conveniently, and securely.”

BDCheckout allows users to load cash into their Bitcoin Depot digital wallets through the Bitcoin Depot mobile app, which enables them to generate a barcode in the app and present it at participating retail locations to complete the transaction.

As the largest BTM operator in North America, Bitcoin Depot continues to lead the industry with innovative solutions that bridge the gap between cash and digital currencies. This announcement follows a series of notable achievements and recent momentum for Bitcoin Depot. Earlier this month, The Company exceeded its goal of deploying over 8,000 Bitcoin ATMs five months ahead of schedule, reaching a total of 8,180 kiosks. This rapid expansion is part of Bitcoin Depot’s broader growth strategy, which has also seen the addition of nearly 225 Bitcoin ATMs in Australia and Puerto Rico, and significant retail partnerships serving to broaden its market reach. The company has also expanded its BTM fleet by over 900 kiosks this year and advanced its profit-sharing program.

About Bitcoin Depot 
Bitcoin Depot Inc. (Nasdaq: BTM) was founded in 2016 with the mission to connect those who prefer to use cash to the broader, digital financial system. Bitcoin Depot provides its users with simple, efficient and intuitive means of converting cash into Bitcoin, which users can deploy in the payments, spending and investing space. Users can convert cash to bitcoin at Bitcoin Depot kiosks in 48 states and at thousands of name-brand retail locations in 31 states through its BDCheckout product. The Company has the largest market share in North America with approximately 7,400 kiosk locations as of April 1, 2024. Learn more at www.bitcoindepot.com.

Cautionary Note Regarding Forward-Looking Statements

This press release and any oral statements made in connection herewith include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act. Forward-looking statements are any statements other than statements of historical fact, and include, but are not limited to, statements regarding the expectations of plans, business strategies, objectives and growth and anticipated financial and operational performance, including our growth strategy and ability to increase deployment of our products and services, the anticipated effects of the Amendment, and the closing of the Preferred Sale. These forward-looking statements are based on management’s current beliefs, based on currently available information, as to the outcome and timing of future events. Forward-looking statements are often identified by words such as “anticipate,” “appears,” “approximately,” “believe,” “continue,” “could,” “designed,” “effect,” “estimate,” “evaluate,” “expect,” “forecast,” “goal,” “initiative,” “intend,” “may,” “objective,” “outlook,” “plan,” “potential,” “priorities,” “project,” “pursue,” “seek,” “should,” “target,” “when,” “will,” “would,” or the negative of any of those words or similar expressions that predict or indicate future events or trends or that are not statements of historical matters, although not all forward-looking statements contain such identifying words. In making these statements, we rely upon assumptions and analysis based on our experience and perception of historical trends, current conditions, and expected future developments, as well as other factors we consider appropriate under the circumstances. We believe these judgments are reasonable, but these statements are not guarantees of any future events or financial results. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond our control.

These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political and legal conditions; failure to realize the anticipated benefits of the business combination; future global, regional or local economic and market conditions; the development, effects and enforcement of laws and regulations; our ability to manage future growth; our ability to develop new products and services, bring them to market in a timely manner and make enhancements to our platform; the effects of competition on our future business; our ability to issue equity or equity-linked securities; the outcome of any potential litigation, government and regulatory proceedings, investigations and inquiries; and those factors described or referenced in filings with the Securities and Exchange Commission. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that we do not presently know or that we currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect our expectations, plans or forecasts of future events and views as of the date of this press release. We anticipate that subsequent events and developments will cause our assessments to change.

We caution readers not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events, or other factors that affect the subject of these statements, except where we are expressly required to do so by law. All written and oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary statement.

Contacts: 

Investors  
Cody Slach
Gateway Group, Inc.  
949-574-3860  
BTM@gateway-grp.com 

Media  
Christina Lockwood, Brenlyn Motlagh, Ryan Deloney  
Gateway Group, Inc. 
949-574-3860  
BTM@gateway-grp.com

Source: Bitcoin Depot Inc.

Released August 5, 2024

CBIZ’s $2.3 Billion Acquisition of Marcum: A Game-Changer in Professional Services

Posted on by slightbourne@noblecapitalmarkets.com
Key Points:
– CBIZ to acquire Marcum in a $2.3 billion cash-and-stock deal
– Transaction will make CBIZ the seventh-largest accounting services provider in the U.S.
– Combined annual revenue expected to reach $2.8 billion post-acquisition

In a landmark move that’s set to reshape the landscape of professional services in the United States, CBIZ, Inc. (NYSE: CBZ) announced on July 31, 2024, its agreement to acquire Marcum, LLP for approximately $2.3 billion. This strategic acquisition will catapult CBIZ to the position of the seventh-largest accounting services provider in the country, with projected annual revenues of $2.8 billion.

The transaction, which is expected to close in the fourth quarter of 2024, will see CBIZ acquire Marcum’s non-attest business. Concurrently, Mayer Hoffman McCann P.C., a long-standing partner of CBIZ, will acquire Marcum’s attest business. The deal structure involves a mix of cash and stock, with about half the consideration to be paid in each form.

Founded in 1951, Marcum has established itself as a formidable player in the accounting and advisory services sector. With 43 offices across major U.S. markets and a client base exceeding 35,000, Marcum brings significant scale and expertise to the table. The firm’s annual revenue of approximately $1.2 billion and workforce of over 3,500 professionals will substantially boost CBIZ’s market presence and service capabilities.

Jerry Grisko, President and CEO of CBIZ, hailed the acquisition as “the most significant transaction in CBIZ’s history.” He emphasized the enhanced value proposition for clients, stating, “Together, we will provide a breadth of services and depth of expertise that is unmatched in our industry.”

The merger is expected to yield numerous benefits for CBIZ. It will strengthen the company’s market position in the middle market segment and accelerate growth while improving acquisition capabilities. The combined entity will be better positioned to attract and retain top talent, expand service offerings, and deepen industry expertise. Furthermore, the merger will enable increased investment in technology and innovation, potentially driving significant shareholder value, with an estimated 10% contribution to adjusted earnings per share in 2025.

Jeffrey Weiner, Chairman & CEO of Marcum, expressed enthusiasm about the merger, highlighting the shared commitment to high-quality services and the potential for leveraging combined strengths to better serve clients. He emphasized the similarities in their business models and the opportunities this merger presents for bringing more diversified services and greater subject matter expertise to their clientele.

The transaction is subject to approval by CBIZ stockholders and Marcum’s partners, along with other customary closing conditions. Both companies have engaged top-tier financial and legal advisors to facilitate the deal, underscoring the significance of this merger in the professional services landscape.

This acquisition marks a significant milestone in the professional services industry, creating a powerhouse with unparalleled reach and capabilities. As the business world continues to evolve, the combined entity of CBIZ and Marcum appears well-positioned to meet the diverse and complex needs of middle-market clients across the United States.

The market’s response to this announcement will be closely watched, as it could potentially trigger further consolidation in the professional services sector. For now, all eyes are on CBIZ and Marcum as they prepare to join forces in what promises to be a transformative union in the world of accounting and advisory services. The success of this merger could set a new standard for strategic growth and client service in the industry, potentially influencing future moves by other major players in the field.

Resources Connection (RGP) – Highlights from the Company’s 10-K Filing

Posted on by cpereira@noblefcm.com


Friday, July 26, 2024

Resources Connection, Inc. provides agile consulting services in North America, Europe, and the Asia Pacific. The company offers finance and accounting services, including process transformation and optimization, financial reporting and analysis, technical and operational accounting, merger and acquisition due diligence and integration, audit readiness, preparation and response, implementation of new accounting standards, and remediation support. It also provides information management services, such as program and project management, business and technology integration, data strategy, and business performance management. In addition, the company offers corporate advisory, strategic communications, and restructuring services; and corporate governance, risk, and compliance management services, such as contract and regulatory compliance, enterprise risk management, internal controls management, and operation and information technology (IT) audits. Further, it provides supply chain management services comprising strategy development, procurement and supplier management, logistics and materials management, supply chain planning and forecasting, and unique device identification compliance; and human capital services, including change management, organization development and effectiveness, compensation and incentive plan strategies, and optimization of human resources technology and operations. Additionally, the company offers legal and regulatory supporting services for commercial transactions, global compliance initiatives, law department operations, and law department business strategies and analytics. It also provides policyIQ, a proprietary cloud-based governance, risk, and compliance software application. The company was formerly known as RC Transaction Corp. and changed its name to Resources Connection, Inc. in August 2000. Resources Connection, Inc. was founded in 1996 and is headquartered in Irvine, California.

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

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

10-K Filed. We had the opportunity to review the Company’s 10-K filed earlier in the week. Some key takeaways from the 10-K include the Company’s continuation of its pristine balance sheet, solid cash flow generation, and the return of capital to shareholders.

Pristine Balance Sheet. The Company continues to have plenty of liquidity to work with, as RGP’s total liquidity at year end was $283 million, with no outstanding debt. We believe the Company can utilize the liquidity in the balance sheet towards acquisitions should the opportunity present itself to RGP. Outside of acquisitions, management can utilize its liquidity towards organic growth, including its technology transformation initiative, in our view.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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. 

Noble Capital Markets Emerging Growth TMT / Consumer Conference Presentation Replays

Posted on by cpatches

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  • Emerging Growth Public TMT/Consumer Company Executive Presentations
  • Q&A Sessions Moderated by Noble’s Analysts
  • Scheduled 1×1 Meetings with Qualified Investors

Noble Capital Markets, a full-service SEC / FINRA registered broker-dealer, dedicated exclusively to serving emerging growth companies, is pleased to present the Consumer, Communications, Media, and Technology Emerging Growth Virtual Equity Conference, taking place June 26th and 27th, 2024. This virtual gathering is set to be an immersive experience, bringing together a unique blend of investors, industry leaders, and experts in the consumer, communications, media, and technology sectors..

Part of Noble’s Robust 2024 Events Calendar

The Consumer, Communications, Media, and Technology Emerging Growth Virtual Equity Conference is part of Noble’s 2024 event programming, featuring a range of c-suite interviews, in-person non-deal roadshows throughout the United States, two other sector-specific virtual equity conferences, and culminating in Noble’s preeminent in-person investor conference, NobleCon20, to be held at Florida Atlantic University in Boca Raton, Florida December 3-4. Keep an eye out for the official press release on NobleCon20 coming soon.

Check out the calendar of upcoming in-person non-deal roadshows here.

Sign up to receive more information on Noble’s other virtual conferences here.

What to Expect

The Consumer, Communications, Media, and Technology Emerging Growth Virtual Equity Conference will feature 2 days of corporate presentations from up to 50 innovative public consumer, communications, media, and technology companies, showcasing their latest advancements and investment opportunities. Each presentation will be followed by a fireside-style Q&A session proctored by one of Noble’s analysts or bankers, with questions taken from the audience during the presentation. Panel presentations are planned, featuring key opinion leaders in these sectors, providing valuable insights on emerging trends. Scheduled one-on-one meetings with public company executives, coordinated by Noble’s dedicated Investor Outreach team, are also available to qualified investors.

Why Your Company Should Present

Looking to increase awareness in your company and increase liquidity? Paid participation in Noble’s investor conferences, both virtual and in-person, provides that opportunity, with a tailored experience aimed at delivering substantial value. After 40 years of serving emerging growth companies, and the investors who follow them, Noble has built an investor base eager to discover where the next success story lies.

Noble’s investor base is relevant and, in many cases, new to your company. Noble’s dedicated Investor Outreach team provides unmatched exposure to investors that can invest in your company, including small money managers, family offices, RIAs, wealth managers, self-directed investors, and institutions. Most of Noble’s investors specifically seek undervalued, overlooked, emerging investment opportunities.

The cost to present includes your corporate presentation with a Q&A session proctored by one of Noble’s analysts or bankers, a webcast recording, scheduled 1×1 meetings with qualified investors, and marketing on Channelchek.

Benefits for Investors

Hear directly from the c-suite of the next innovators in consumer, communications, media, and technology and learn about new investment opportunities. The Q&A portion of each presentation gives you the opportunity to have your questions answered during or after the proctored session. The planned panel presentations are sure to provide expert insight on growing trends in the healthcare space. And, for qualified investors, one-on-one meetings are available with company executives; scheduled by Noble’s dedicated Investor Outreach team. All from the comfort of your own desk, and at no cost.

How to Register

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Resources Connection (RGP) – Full 2024 Review and Updated Projections

Posted on by cpereira@noblefcm.com


Monday, July 22, 2024

Resources Connection, Inc. provides agile consulting services in North America, Europe, and the Asia Pacific. The company offers finance and accounting services, including process transformation and optimization, financial reporting and analysis, technical and operational accounting, merger and acquisition due diligence and integration, audit readiness, preparation and response, implementation of new accounting standards, and remediation support. It also provides information management services, such as program and project management, business and technology integration, data strategy, and business performance management. In addition, the company offers corporate advisory, strategic communications, and restructuring services; and corporate governance, risk, and compliance management services, such as contract and regulatory compliance, enterprise risk management, internal controls management, and operation and information technology (IT) audits. Further, it provides supply chain management services comprising strategy development, procurement and supplier management, logistics and materials management, supply chain planning and forecasting, and unique device identification compliance; and human capital services, including change management, organization development and effectiveness, compensation and incentive plan strategies, and optimization of human resources technology and operations. Additionally, the company offers legal and regulatory supporting services for commercial transactions, global compliance initiatives, law department operations, and law department business strategies and analytics. It also provides policyIQ, a proprietary cloud-based governance, risk, and compliance software application. The company was formerly known as RC Transaction Corp. and changed its name to Resources Connection, Inc. in August 2000. Resources Connection, Inc. was founded in 1996 and is headquartered in Irvine, California.

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

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

Full Year Results. For the twelve months ended May 25, 2024, RGP posted revenue of $632.8 million, a decline of 18.4% y-o-y. Same day constant currency revenue fell 18.8% y-o-y. Gross margin was 38.9% versus 40.4% in FY23. GAAP net income was $21 million, or $0.62/sh., compared to $54.4 million, or $1.59 last year. Adjusted EPS was $0.93 versus $2.00. Adjusted EBITDA in FY24 totaled $51.5 million, down from $100.2 million a year ago.

Setting Foundation. Management continues to control what they can while setting the foundation for an expected industry upturn. While the timing of the upturn is difficult to predict, we believe clients will become more willing to start spending on new projects as economic certainty becomes clearer. We believe the first interest rate reductions by the Federal Reserve will be a signal of improved clarity and will provide clients comfort to start new projects.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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. 

Resources Connection (RGP) – A 4Q24 Beat; Stabilization, Waiting for Upturn

Posted on by cpereira@noblefcm.com


Friday, July 19, 2024

Resources Connection, Inc. provides agile consulting services in North America, Europe, and the Asia Pacific. The company offers finance and accounting services, including process transformation and optimization, financial reporting and analysis, technical and operational accounting, merger and acquisition due diligence and integration, audit readiness, preparation and response, implementation of new accounting standards, and remediation support. It also provides information management services, such as program and project management, business and technology integration, data strategy, and business performance management. In addition, the company offers corporate advisory, strategic communications, and restructuring services; and corporate governance, risk, and compliance management services, such as contract and regulatory compliance, enterprise risk management, internal controls management, and operation and information technology (IT) audits. Further, it provides supply chain management services comprising strategy development, procurement and supplier management, logistics and materials management, supply chain planning and forecasting, and unique device identification compliance; and human capital services, including change management, organization development and effectiveness, compensation and incentive plan strategies, and optimization of human resources technology and operations. Additionally, the company offers legal and regulatory supporting services for commercial transactions, global compliance initiatives, law department operations, and law department business strategies and analytics. It also provides policyIQ, a proprietary cloud-based governance, risk, and compliance software application. The company was formerly known as RC Transaction Corp. and changed its name to Resources Connection, Inc. in August 2000. Resources Connection, Inc. was founded in 1996 and is headquartered in Irvine, California.

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

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

4Q24 Results. Revenue of $148.2 million was above our forecast of $140 million, consensus $141 million, and management’s $137-$142 million guide. Adjusted EBITDA totaled $13.1 million, or an 8.8% margin, versus our estimate of $5.5 million. GAAP net income was $10.5 million, or $0.31/sh, and adjusted EPS was $0.28. We had forecast a GAAP loss of $0.02/sh and adjusted EPS of $0.07/sh. Consensus was $0.00 and $0.07, respectively.

Drivers. The top line was driven by a stabilization in the overall business, although clients remain cautious on spending on new projects. Gross margin of 40.2% was above the 37.5%-38% guide. Run rate SGA came in at $46.5 million, well below the $50-$52 million guide, and an 11% y-o-y improvement.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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

Release – Bit Digital, Inc. Announces Monthly Production Update for June 2024

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on BTBT

NEW YORK, July 5, 2024 /PRNewswire/ — Bit Digital, Inc. (Nasdaq: BTBT) (“Bit Digital” or the “Company”), a sustainable platform for digital assets and artificial intelligence (“AI”) infrastructure headquartered in New York, announced its unaudited digital asset production and corporate updates for the month of June 2024.

Corporate Highlights for June 2024

  • The Company had 256 servers actively generating revenue from its initial Bit Digital AI contract, as of June 30, 2024. The Company earned an estimated $4.1 million of unaudited revenue from this contract during the month of June 2024.
  • In June 2024, the Company produced 61.7 BTC, a 2.5% decrease compared to the prior month.
  • The Company’s active hash rate was approximately 2.57 EH/s as of June 30, 2024.
  • Treasury holdings1 of BTC and ETH were 585.9 and 29,927.9 with a fair market value of approximately $36.7 million and $102.7, respectively, on June 30, 2024.
  • The BTC equivalent2 of our digital asset holdings as of June 30, 2024, was approximately 2,230.5 or approximately $139.8 million.
  • The Company had cash and cash equivalents of $60.8 million and total liquidity (defined as cash and cash equivalents, USDC, and the fair market value of digital assets) of approximately $200.6 million, as of June 30, 2024.

Proof-of-Stake Highlights

  • The Company had approximately 17,184 ETH actively staked in native staking protocols as of June 30, 2024.
  • Bit Digital earned a blended APY of approximately 3.5% on its staked ETH position for the month of June 2024.
  • The Company earned aggregate staking rewards of approximately 49.8 ETH during June 2024.

Upcoming Events

  • EthCC Brussels on July 8-11
  • C. Wainwright NDR on July 23-24
  • Bitcoin Nashville 2024 on July 25-27

About Bit Digital

Bit Digital, Inc. is a sustainable platform for digital assets and artificial intelligence (“AI”) infrastructure headquartered in New York City. Our bitcoin mining operations are located in the US, Canada, and Iceland. The Company has established a business line, Bit Digital AI, that offers specialized cloud-infrastructure services for artificial intelligence applications. For additional information, please contact ir@bit-digital.com or visit our website at www.bit-digital.com.

Investor Notice 

Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under “Risk Factors” in Item 3.D of our most recent Annual Report on Form 20-F for the fiscal year ended December 31, 2023. If any material risk was to occur, our business, financial condition or results of operations would likely suffer. In that event, the value of our securities could decline and you could lose part or all of your investment. The risks and uncertainties we describe are not the only ones facing us. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. In addition, our past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results in the future. Future changes in the network-wide mining difficulty rate or bitcoin hash rate may also materially affect the future performance of Bit Digital’s production of bitcoin. Actual operating results will vary depending on many factors including network difficulty rate, total hash rate of the network, the operations of our facilities, the status of our miners, and other factors.

Safe Harbor Statement 

This press release may contain certain “forward-looking statements” relating to the business of Bit Digital, Inc., and its subsidiary companies. All statements, other than statements of historical fact included herein are “forward-looking statements.” These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects,” or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Resources Connection (RGP) – Noble Consumer Virtual Conference

Posted on by cpereira@noblefcm.com


Tuesday, July 02, 2024

Resources Connection, Inc. provides agile consulting services in North America, Europe, and the Asia Pacific. The company offers finance and accounting services, including process transformation and optimization, financial reporting and analysis, technical and operational accounting, merger and acquisition due diligence and integration, audit readiness, preparation and response, implementation of new accounting standards, and remediation support. It also provides information management services, such as program and project management, business and technology integration, data strategy, and business performance management. In addition, the company offers corporate advisory, strategic communications, and restructuring services; and corporate governance, risk, and compliance management services, such as contract and regulatory compliance, enterprise risk management, internal controls management, and operation and information technology (IT) audits. Further, it provides supply chain management services comprising strategy development, procurement and supplier management, logistics and materials management, supply chain planning and forecasting, and unique device identification compliance; and human capital services, including change management, organization development and effectiveness, compensation and incentive plan strategies, and optimization of human resources technology and operations. Additionally, the company offers legal and regulatory supporting services for commercial transactions, global compliance initiatives, law department operations, and law department business strategies and analytics. It also provides policyIQ, a proprietary cloud-based governance, risk, and compliance software application. The company was formerly known as RC Transaction Corp. and changed its name to Resources Connection, Inc. in August 2000. Resources Connection, Inc. was founded in 1996 and is headquartered in Irvine, California.

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

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

Conference. We hosted Resources Connection CEO Kate Duchene and CFO Jennifer Ryu at the Noble Capital Emerging Growth Conference on June 26th. Management’s presentation as well as a Q&A session can be found at https://www.channelchek.com/videos/resources-connection-inc-rgp-noble-capital-markets-virtual-consumer-tmt-conference-replay. The following are key highlights of the presentation.

Poised to Capitalize on the Upcycle. With client decision timetables extending during 2023, management mitigated costs but retained key consultants in anticipation of a return to normal business trends. North America, which carries a higher margin profile than its International segment, appears poised to break out, with RGP in discussions with clients about budgets and looking at assessments.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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. 

Bit Digital (BTBT) – Noble Consumer Virtual Conference

Posted on by cpereira@noblefcm.com


Tuesday, July 02, 2024

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

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

Conference. We hosted Bit Digital CEO Sam Tabar at the Noble Capital Emerging Growth Conference on June 27th. The presentation and Q&A session can be found at https://www.channelchek.com/videos/bit-digital-btbt-noble-capital-markets-virtual-consumer-tmt-conference-replay. The following are key highlights of the presentation.

Bit Digital AI. The $100 million annual run rate goal is within reach as the expanded HPC services contract is now at a $92 million annualized revenue run-rate. The pipeline here is growing and we anticipate additional customers before year-end. Notably, HPC revenue generates significantly higher margins than the mining business, partially due to an energy cost that is 15x less. Management’s goal is to become a leading provider of AI infrastructure as a service to the EMEA region.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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.