Enterprise Blockchain Processor, TAAL, becomes Hut 8’s Newest Hosting Services Partner

 

TORONTO, May 28, 2021 /CNW/ – Hut 8 Mining Corp. (TSX: HUT) (“Hut 8” or the “Company”), one of North America’s oldest and largest innovation-focused digital asset mining pioneers, is thrilled to announce its latest hosting partnership with Enterprise Blockchain transaction processor, TAAL Distributed Information Technologies Inc. (CSE: TAAL).

Hut 8 will provide physical hosting and optimization services and access to competitive electrical power for 960 newly-purchased digital hashing computers owned by TAAL. Hut 8 will also work with TAAL to make their existing fleet more efficient. Under the terms of this deal, TAAL will have 960 hashing computers, using 3.2 MW of Hut 8 power.

Hut 8’s hosting and optimization services include equipment sourcing and logistics management, white-glove installation, a dedicated Client Success Manager (CSM), and 24/7 physical security and technical operation teams dedicated around-the-clock at each site.

“At Hut 8, we are focused on diversifying our revenue-generating business model and creating catalysts for growth.” said CEO of Hut 8, Jaime Leverton. “Strengthening our existing hosting services line of business with strategic partners is a  growth focus for the Company as we continue to see more institutional players expand their investments in digital asset mining. We strive to offer our partners a best-in-class North American-based option for their hosting needs.”

TAAL operates exclusively on the BitcoinSV blockchain to support its blockchain transaction processing business. With this new hosting partnership, TAAL expects its hash rate to be at least 450 PH/s, well ahead of its stated goals of anticipating winning at least 30 BitcoinSV blocks per day attributed to TAAL. 

“We are very pleased to be working with Hut 8, as we both share a dedication to excellence and having aligned core values of limiting our impact on the environment,” comments Stefan Matthews, TAAL Executive Chairman, and Chief Executive Officer. 

About TAAL:

TAAL Distributed Information Technologies Inc. delivers value-added blockchain services, providing professional-grade, highly scalable blockchain infrastructure and transactional platforms to support businesses building solutions and applications upon the BitcoinSV platform, and developing, operating, and managing distributed computing systems for enterprise users.

Visit TAAL online at www.taal.com

About Hut 8:

Hut 8 is one of North America’s oldest, largest and innovation-focused bitcoin miners. Hut 8 has one of the highest installed capacity rates in the industry and is #1 globally in held, self-mined Bitcoin of any crypto miner or publicly traded company. Recently ranked 11th (of 10,000) on the 2021 OTCQX® Best 50, and the first publicly traded miner on the TSX, the Hut 8 leadership team is continually looking for ways to accelerate innovation in high performance computing, and the blockchain ecosystem. We are stewards of powerful, industry-leading solutions, and drivers of innovation in digital asset mining and high performance computing. – Hut 8 applies a growth mindset to our revenue diversification, ESG and carbon footprint reduction strategy. We are a company committed to growing shareholder value regardless of #BTC market direction. #HodltheHut.

SOURCE Hut 8 Mining Corp

For further information: Media Contact: Hut 8, Dea Masotti Payne, T. 204-583-1695, E. dea.masottipayne@northstrategic.com

Comtech Telecommunications Corp. Awarded $1.6 Million Contract for High-Power Solid-State Amplifiers

 

MELVILLE, N.Y.–(BUSINESS WIRE)–May 26, 2021– 
May 26, 2021— 
Comtech Telecommunications Corp. (NASDAQ: CMTL), a world leader in secure wireless communications technologies, announced today that during its third quarter of fiscal 2021, its 
New York-based subsidiary, 
Comtech PST Corp., which is part of Comtech’s Government Solutions segment, was awarded an additional 
$1.6 million contract for RF microwave solid-state amplifiers from a major domestic prime contractor, adding to an initial 
$1.7 million contract awarded earlier this fiscal year.

These very high-power solid-state amplifiers, which utilize the latest in solid-state GaN transistor technology, were developed in close cooperation with the prime contractor and are part of a complex RF microwave transmission system used by the 
U.S. Military.

“This additional order is another example of Comtech’s technical strength in delivering high-power solid-state transmitter solutions for military applications and the ongoing demand for our high-power solid-state amplifier products,” said  Fred Kornberg, Chairman of the Board and Chief Executive Officer of 
Comtech Telecommunications Corp.

Comtech PST Corp. (www.comtechpst.com) is a leading independent supplier of broadband, high-power, high performance RF microwave amplifiers and control components for use in a broad spectrum of applications including defense, medical, satellite communications systems and instrumentation.

Comtech Telecommunications Corp. is a leader in the global communications market headquartered in 
Melville, New York. With a passion for customer success, 
Comtech designs, produces and markets advanced secure wireless solutions to more than 1,000 customers in more than 100 countries. For more information, please visit www.comtechtel.com.

Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results could differ materially from such forward-looking information. The Company’s 
Securities and Exchange Commission filings identify many such risks and uncertainties. Any forward-looking information in this press release is qualified in its entirety by the risks and uncertainties described in such 
Securities and Exchange Commission filings.

Media Contact:
Michael D. Porcelain, President and Chief Operating Officer

Comtech Telecommunications Corp.
631-962-7000
info@comtechtel.com

Source: 
Comtech Telecommunications Corp.

Wednesday, May 26, 2021

TAAL Distributed Information Technologies (TAALF)
Initiating Coverage on TAAL Distributed – Blockchain for Enterprise

Taal Distributed Information Technologies Inc delivers value-added blockchain services, providing professional-grade, highly scalable blockchain infrastructure and transactional platforms to support businesses building solutions and applications upon the Bitcoin SV platform, and developing, operating, and managing distributed computing systems for enterprise users.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

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

Initiating Coverage. We are initiating research coverage on TAAL Distributed Information Technologies. We believe the Company’s focus on using blockchain for transaction processing will bring long-term value, while crypto mining services provide near-term revenue and an option on rising prices for BitcoinSV.


A Differentiated Approach to Blockchain.  TAAL’s goal is to harness the power of blockchain processing for enterprise applications. The Company’s proprietary cloud-based platform meets enterprise demand for real-time transactions, unlimited transaction scalability, ultra low transaction fees, and network security on the blockchain …

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. 

Comtech Telecommunications Corp. Awarded $1.6 Million Contract for High-Power Solid-State Amplifiers

 

MELVILLE, N.Y.–(BUSINESS WIRE)–May 26, 2021– 
May 26, 2021— 
Comtech Telecommunications Corp. (NASDAQ: CMTL), a world leader in secure wireless communications technologies, announced today that during its third quarter of fiscal 2021, its 
New York-based subsidiary, 
Comtech PST Corp., which is part of Comtech’s Government Solutions segment, was awarded an additional 
$1.6 million contract for RF microwave solid-state amplifiers from a major domestic prime contractor, adding to an initial 
$1.7 million contract awarded earlier this fiscal year.

These very high-power solid-state amplifiers, which utilize the latest in solid-state GaN transistor technology, were developed in close cooperation with the prime contractor and are part of a complex RF microwave transmission system used by the 
U.S. Military.

“This additional order is another example of Comtech’s technical strength in delivering high-power solid-state transmitter solutions for military applications and the ongoing demand for our high-power solid-state amplifier products,” said  Fred Kornberg, Chairman of the Board and Chief Executive Officer of 
Comtech Telecommunications Corp.

Comtech PST Corp. (www.comtechpst.com) is a leading independent supplier of broadband, high-power, high performance RF microwave amplifiers and control components for use in a broad spectrum of applications including defense, medical, satellite communications systems and instrumentation.

Comtech Telecommunications Corp. is a leader in the global communications market headquartered in 
Melville, New York. With a passion for customer success, 
Comtech designs, produces and markets advanced secure wireless solutions to more than 1,000 customers in more than 100 countries. For more information, please visit www.comtechtel.com.

Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results could differ materially from such forward-looking information. The Company’s 
Securities and Exchange Commission filings identify many such risks and uncertainties. Any forward-looking information in this press release is qualified in its entirety by the risks and uncertainties described in such 
Securities and Exchange Commission filings.

Media Contact:
Michael D. Porcelain, President and Chief Operating Officer

Comtech Telecommunications Corp.
631-962-7000
info@comtechtel.com

Source: 
Comtech Telecommunications Corp.

Comtech Telecommunications Corp. Awarded Order to Provide Rugged Baseband Equipment

 

MELVILLE, N.Y.–(BUSINESS WIRE)–May 19, 2021– 
May 19, 2021 — 
Comtech Telecommunications Corp. (NASDAQ: CMTL), a world leader in secure wireless communications technologies, announced today, that during its third quarter of fiscal 2021, its Government Solutions segment was awarded an order worth approximately 
$2.0 million to provide the 
U.S. Marine Corps with command and control modules for Program Manager Light Armored Vehicles (“PM LAV”).

“This order places our rugged baseband products with the 
U.S. Marine Corps soldiers that need them,” said  Fred Kornberg, Chairman of the Board and Chief Executive Officer of 
Comtech Telecommunications Corp.

Comtech Telecommunications Corp. is a leader in the global communications market headquartered in 
Melville, New York. With a passion for customer success, 
Comtech designs, produces and markets advanced secure wireless solutions to more than 1,000 customers in more than 100 countries. For more information, please visit www.comtechtel.com.

Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results could differ materially from such forward-looking information. The Company’s 
Securities and Exchange Commission filings identify many such risks and uncertainties. Any forward-looking information in this press release is qualified in its entirety by the risks and uncertainties described in such 
Securities and Exchange Commission filings.

Media Contact:
Michael D. Porcelain, President and Chief Operating Officer

Comtech Telecommunications Corp.
631-962-7000
info@comtechtel.com

Source: 
Comtech Telecommunications Corp.

Comtech Telecommunications Corp. Awarded Order to Provide Rugged Baseband Equipment

 

MELVILLE, N.Y.–(BUSINESS WIRE)–May 19, 2021– 
May 19, 2021 — 
Comtech Telecommunications Corp. (NASDAQ: CMTL), a world leader in secure wireless communications technologies, announced today, that during its third quarter of fiscal 2021, its Government Solutions segment was awarded an order worth approximately 
$2.0 million to provide the 
U.S. Marine Corps with command and control modules for Program Manager Light Armored Vehicles (“PM LAV”).

“This order places our rugged baseband products with the 
U.S. Marine Corps soldiers that need them,” said  Fred Kornberg, Chairman of the Board and Chief Executive Officer of 
Comtech Telecommunications Corp.

Comtech Telecommunications Corp. is a leader in the global communications market headquartered in 
Melville, New York. With a passion for customer success, 
Comtech designs, produces and markets advanced secure wireless solutions to more than 1,000 customers in more than 100 countries. For more information, please visit www.comtechtel.com.

Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results could differ materially from such forward-looking information. The Company’s 
Securities and Exchange Commission filings identify many such risks and uncertainties. Any forward-looking information in this press release is qualified in its entirety by the risks and uncertainties described in such 
Securities and Exchange Commission filings.

Media Contact:
Michael D. Porcelain, President and Chief Operating Officer

Comtech Telecommunications Corp.
631-962-7000
info@comtechtel.com

Source: 
Comtech Telecommunications Corp.

Comtech Telecommunications Corp. Awarded $1.0 Million Follow-on Contract for Ka-band Airborne SSPA/BUC

 

Comtech’s Falcon Products Are a Leader in Performance and Features

MELVILLE, N.Y.–(BUSINESS WIRE)–May 18, 2021– 
May 18, 2021— 
Comtech Telecommunications Corp. (NASDAQ: CMTL), a world leader in secure wireless communications technologies, announced today that during its third quarter of fiscal 2021, its 
Santa Clara, California-based subsidiary, 
Comtech Xicom Technology, Inc., was awarded a follow-on order valued at more than 
$1.0 million for its Falcon 50Ka Solid-State Power Amplifiers (“SSPAs”) for an In-Flight Connectivity (“IFC”) application. These amplifiers feature a tri-band Block Upconverter (“BUC”) and are packaged in ARINC 791 compliant housings.

“IFC applications using our Falcon Ka-band GaN amplifiers enable travelers to simulate an in-home experience to stay informed, entertained and connected as they travel. In-flight bandwidth requirements keep rising as passengers become accustomed to high bandwidth applications and entertainment wherever they go,” said  Fred Kornberg, Chairman of the Board and Chief Executive Officer of 
Comtech Telecommunications Corp. “Comtech sees significant opportunity in this growing market and offers a portfolio of GaN-based products at Ku-band and Ka-band for IFC applications to keep people connected.”

Comtech Xicom’s Falcon encompasses Ku and Ka frequency bands and offers high linear power with excellent gain flatness and phase noise performance to support the latest waveform technologies and networks. The Ka-band Falcon implements multi-sub-band switching, gain adjustment, gain equalization, power consumption control, and cooperative system calibration support such as OpenBMIP.

Comtech Xicom Technology, Inc., a world leader in high-power amplifiers, manufactures a wide variety of tube-based and solid-state power amplifiers for military and commercial satellite uplink applications. The product range encompasses power levels from 8 W to 3 kW, with frequency coverage in sub-bands within the 2 GHz to 52 GHz spectrum. Amplifiers are available for fixed and ground-based, shipboard and airborne mobile applications. Please visit www.xicomtech.com for more information.

Comtech Telecommunications Corp. is a leader in the global communications market headquartered in 
Melville, New York. With a passion for customer success, 
Comtech designs, produces and markets advanced secure wireless solutions to more than 1,000 customers in more than 100 countries. For more information, please visit www.comtechtel.com.

Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results could differ materially from such forward-looking information. The Company’s 
Securities and Exchange Commission filings identify many such risks and uncertainties. Any forward-looking information in this press release is qualified in its entirety by the risks and uncertainties described in such 
Securities and Exchange Commission filings.

Product Media Contact:
Eric Schmidt, Vice President, Sales

Comtech Xicom Technology, Inc.
408-391-6534
eric.schmidt@xicomtech.com

Corporate Contact:
Michael D. Porcelain, President and Chief Operating Officer

Comtech Telecommunications Corp.
631-962-7000
info@comtechtel.com

Source: 
Comtech Telecommunications Corp.

Comtech Telecommunications Corp. Awarded $1.0 Million Follow-on Contract for Ka-band Airborne SSPA/BUC

 

Comtech’s Falcon Products Are a Leader in Performance and Features

MELVILLE, N.Y.–(BUSINESS WIRE)–May 18, 2021– 
May 18, 2021— 
Comtech Telecommunications Corp. (NASDAQ: CMTL), a world leader in secure wireless communications technologies, announced today that during its third quarter of fiscal 2021, its 
Santa Clara, California-based subsidiary, 
Comtech Xicom Technology, Inc., was awarded a follow-on order valued at more than 
$1.0 million for its Falcon 50Ka Solid-State Power Amplifiers (“SSPAs”) for an In-Flight Connectivity (“IFC”) application. These amplifiers feature a tri-band Block Upconverter (“BUC”) and are packaged in ARINC 791 compliant housings.

“IFC applications using our Falcon Ka-band GaN amplifiers enable travelers to simulate an in-home experience to stay informed, entertained and connected as they travel. In-flight bandwidth requirements keep rising as passengers become accustomed to high bandwidth applications and entertainment wherever they go,” said  Fred Kornberg, Chairman of the Board and Chief Executive Officer of 
Comtech Telecommunications Corp. “Comtech sees significant opportunity in this growing market and offers a portfolio of GaN-based products at Ku-band and Ka-band for IFC applications to keep people connected.”

Comtech Xicom’s Falcon encompasses Ku and Ka frequency bands and offers high linear power with excellent gain flatness and phase noise performance to support the latest waveform technologies and networks. The Ka-band Falcon implements multi-sub-band switching, gain adjustment, gain equalization, power consumption control, and cooperative system calibration support such as OpenBMIP.

Comtech Xicom Technology, Inc., a world leader in high-power amplifiers, manufactures a wide variety of tube-based and solid-state power amplifiers for military and commercial satellite uplink applications. The product range encompasses power levels from 8 W to 3 kW, with frequency coverage in sub-bands within the 2 GHz to 52 GHz spectrum. Amplifiers are available for fixed and ground-based, shipboard and airborne mobile applications. Please visit www.xicomtech.com for more information.

Comtech Telecommunications Corp. is a leader in the global communications market headquartered in 
Melville, New York. With a passion for customer success, 
Comtech designs, produces and markets advanced secure wireless solutions to more than 1,000 customers in more than 100 countries. For more information, please visit www.comtechtel.com.

Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results could differ materially from such forward-looking information. The Company’s 
Securities and Exchange Commission filings identify many such risks and uncertainties. Any forward-looking information in this press release is qualified in its entirety by the risks and uncertainties described in such 
Securities and Exchange Commission filings.

Product Media Contact:
Eric Schmidt, Vice President, Sales

Comtech Xicom Technology, Inc.
408-391-6534
eric.schmidt@xicomtech.com

Corporate Contact:
Michael D. Porcelain, President and Chief Operating Officer

Comtech Telecommunications Corp.
631-962-7000
info@comtechtel.com

Source: 
Comtech Telecommunications Corp.

Monday, May 17, 2021

Comtech (CMTL)
Steady Drumbeat of Contract Awards Bodes Well

Comtech Telecommunications Corp. engages in the design, development, production, and marketing of products, systems, and services for advanced communications solutions in the United States and internationally. It operates in three segments: Telecommunications Transmission, Mobile Data Communications, and RF Microwave Amplifiers. The Telecommunications Transmission segment provides satellite earth station equipment and systems, over-the-horizon microwave systems, and forward error correction technology, which are used in various commercial and government applications, including backhaul of wireless and cellular traffic, broadcasting (including HDTV), IP-based communications traffic, long distance telephony, and secure defense applications. The Mobile Data Communications segment provides mobile satellite transceivers, and computers and satellite earth station network gateways and associated installation, training, and maintenance services; supplies and operates satellite packet data networks, including arranging and providing satellite capacity; and offers microsatellites and related components. The RF Microwave Amplifiers segment designs, develops, manufactures, and markets satellite earth station traveling wave tube amplifiers (TWTA) and broadband amplifiers. Its amplifiers are used in broadcast and broadband satellite communication; defense applications, such as telecommunications systems and electronic warfare systems; and commercial applications comprising oncology treatment systems, as well as to amplify signals carrying voice, video, or data for air-to-satellite-to-ground communications. The company serves satellite systems integrators, wireless and other communication service providers, broadcasters, defense contractors, military, governments, and oil companies. Comtech markets its products through independent representatives and value-added resellers. The company was founded in 1967 and is headquartered in Melville, New York.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

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

Awardmania. Over the past six weeks, Comtech has issued a flurry of press releases detailing a steady drumbeat of new and modified contract awards. The press released awards total some $46.4 million of additional revenue for Comtech. We believe the pace of business is an indicator of markets returning to a more normal operating environment and bodes well for the Company going forward.


Military & Federal Government.  Comtech was awarded $9.2 million of additional funding from the U.S. Army for system refurbishments, services, and equipment for SIPR and NIPR ground satellite terminals and an additional $6.2 million as part of the BFT-1 sustainment support contract. For the Federal Government, the Company received a $6.5 million award for cyber training solutions …

This 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. 

Comtech Telecommunications Corp. Awarded $2.0 Million Contract for Ka-band TWTAs

 

Leading Military System Integrator Selects Comtech for Trailer-Based Satcom Terminal

MELVILLE, N.Y.–(BUSINESS WIRE)–May 17, 2021– 
May 17, 2021— 
Comtech Telecommunications Corp. (NASDAQ: CMTL), a world leader in secure wireless communications technologies, announced today, that during its third quarter of fiscal 2021, its 
Santa Clara, California-based subsidiary, 
Comtech Xicom Technology, Inc., a world leader in high-power amplifiers, was awarded a 
$2.0 million order for rugged Ka-band high power traveling wave tube amplifiers (“TWTAs”) for a 
U.S. military communications system that provides a secure internet connection to 
U.S. soldiers without the need for fixed infrastructure.

“Comtech Xicom Technology’s line of high-power amplifiers (“HPAs”) are employed in military communications applications around the globe. From transportable to airborne applications, Xicom leads the way for high-quality, state-of-the-art TWTAs and SSPAs,” said  Fred Kornberg, Chairman of the Board and Chief Executive Officer of 
Comtech Telecommunications Corp. “We are happy to be selected to deliver reliable and high-performance Ka-band amplifiers.”

Comtech Xicom Technology, Inc., a world leader in high-power amplifiers, manufactures a wide variety of tube-based and solid-state power amplifiers for military and commercial satellite uplink applications. The product range encompasses power levels from 8 W to 3 kW, with frequency coverage in sub-bands within the 2 GHz to 52 GHz spectrum. Amplifiers are available for fixed and ground-based, shipboard, and airborne mobile applications. Please visit www.xicomtech.com for more information.

Comtech Telecommunications Corp. is a leader in the global communications market headquartered in 
Melville, New York. With a passion for customer success, 
Comtech designs, produces and markets advanced secure wireless solutions to more than 1,000 customers in more than 100 countries. For more information, please visit www.comtechtel.com.

Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results could differ materially from such forward-looking information. The Company’s 
Securities and Exchange Commission filings identify many such risks and uncertainties. Any forward-looking information in this press release is qualified in its entirety by the risks and uncertainties described in such 
Securities and Exchange Commission filings.

Product Media Contact:
Eric Schmidt, Vice President, Sales

Comtech Xicom Technology, Inc.
408-391-6534
eric.schmidt@xicomtech.com

Corporate Contact:
Michael D. Porcelain, President and Chief Operating Officer

Comtech Telecommunications Corp.
631-962-7000
info@comtechtel.com

Source: 
Comtech Telecommunications Corp.

Friday, May 14, 2021

One Stop Systems Inc. (OSS)
Runway Prepped for Exciting Growth; Raising Rating and PT

One Stop Systems Inc is US-based company which is principally engaged in designing, manufacturing, marketing high-end systems for high performance computing (HPC) applications. The company offers custom servers, compute accelerators, solid-state storage arrays and system expansion systems. The product line of the company includes GPU Appliances, GPU Expansion, GPUs and co-processors, Flash storage arrays, Flash storage expansion, Servers, Disk Arrays, Desktop computing appliances, accessories and parts. The company delivers high-end technology to customers through the sale of equipment and software for use on their premises or through remote cloud access to secure data centres housing technology.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

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

Raising Rating and PT. Given the sell off in the shares, we believe OSS presents investors with a favorable risk/reward, especially in light of the Company’s exciting growth potential, in our view. We are raising our rating and instituting a new 12-month price target. At our PT OSS shares would trade at 2.0x on a EV/estimated 2021 revenue.


1Q21 Results.  Revenue of $13.3 million almost equaled the record $13.4 million generated in the first quarter of 2020, a non-COVID impacted quarter. OSS reported breakeven EPS for the quarter, compared to an EPS loss of $0.07 last year. Adjusted EPS was $0.03 in 1Q21 versus a loss of $0.04 in 1Q20. We had projected revenue of $13 million and a net loss of $0.03 per share …

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. 

QuoteMedia Announces 22% Revenue Growth for Q1 2021

PHOENIX, May 13, 2021 (GLOBE NEWSWIRE) — QuoteMedia, Inc. (OTCQB: QMCI), a leading provider of market data and financial applications, announced financial results for the fiscal year ended March 31, 2021.

QuoteMedia provides banks, brokerage firms, private equity firms, financial planners and sophisticated investors with a more economical, higher quality alternative source of stock market data and related research information. We compete with several larger legacy organizations and a modest community of other smaller companies. QuoteMedia provides streaming data feeds, on-demand request-based data (XML/JSON), web content solutions (financial content for website integration) and applications such as Quotestream Professional desktop and mobile.

Highlights for Q1 2021 include the following:

• Revenue increased to $3,606,218 in Q1 2021 from $2,966,584 in Q1 2020, a year over year increase of 22%.
• Quarter over quarter revenue increased 10% when comparing Q1 2021 to Q4 2020.
• Net income for Q1 2021 was $23,087 compared to a loss of $117,325 in Q1 2020.
• Cash on hand was $815,499 at March 31, 2021; an increase of $397,589 from the $417,910 cash balance reported at December 31, 2020.

“As discussed when releasing our 2020 annual results, we are coming off of a great year for QuoteMedia, and we are pleased to see the momentum carry over into 2021”, said Robert J. Thompson, Chairman of the Board. “Consistent with our previous forecasts, we experienced very strong revenue growth during the quarter. We fully expect to maintain this trajectory throughout the remainder of the year as we continue to increase our market share, develop important relationships with clients and partners, create new innovative product and service offerings, expand our coverage, and explore other opportunities to grow the company.”

QuoteMedia will host a conference call Thursday, May 13, 2021 at 2:00 PM Eastern Time to discuss the Q1 2021 financial results and provide a business update.

Conference Call Details:

Date: May 13, 2021

Time: 2:00 PM Eastern

Dial-in numbers: 877?876?9173, 785?424?1667

Conference ID: 
QUOTEMEDIA

An audio rebroadcast of the call will be available later at: www.quotemedia.com

About
QuoteMedia

QuoteMedia is a leading software developer and cloud-based syndicator of financial market information and streaming financial data solutions to media, corporations, online brokerages, and financial services companies. The Company licenses interactive stock research tools such as streaming real-time quotes, market research, news, charting, option chains, filings, corporate financials, insider reports, market indices, portfolio management systems, and data feeds. QuoteMedia provides industry leading market data solutions and financial services for companies such as the Nasdaq Stock Exchange, TMX Group (TSX Stock Exchange), Canadian Securities Exchange (CSE), London Stock Exchange Group, FIS, U.S. Bank, Broadridge Financial Systems, JPMorgan Chase, CI Financial, Canaccord Genuity Corp., Hilltop Securities, HD Vest, Stockhouse, Zacks Investment Research, General Electric, Boeing, Bombardier, Business Wire, PR Newswire, FolioFN, Regal Securities, ChoiceTrade, Cetera Financial Group, Dynamic Trend, Inc., Qtrade Financial, CNW Group, IA Private Wealth, Ally Invest, Inc., Suncor, Virtual Brokers, Equities.com, Leede Jones Gable, Firstrade Securities, Charles Schwab, First Financial, Cirano, Equisolve, Stock-Trak, Mergent, Cision, Warrior Trading and others. Quotestream®, QMod ^TM and Quotestream Connect ^TM are trademarks of QuoteMedia. For more information, please visit www.quotemedia.com.

Statements about QuoteMedia’s future expectations, including future revenue, earnings, and transactions, as well as all other statements in this press release other than historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. QuoteMedia intends that such forward-looking statements be subject to the safe harbors created thereby. These statements involve risks and uncertainties that are identified from time to time in the Company’s SEC reports and filings and are subject to change at any time. QuoteMedia’s actual results and other corporate developments could differ materially from that which has been anticipated in such statements.

Below are the specific forward-looking statements included in this press release:

• Consistent with our previous forecasts, we experienced very strong revenue growth during the quarter. We fully expect to maintain this trajectory throughout the remainder of the year as we continue to increase our market share, develop important relationships with clients and partners, create new innovative product and service offerings, expand our coverage, and explore other opportunities to grow the company.

QuoteMedia
Investor Relations
Brendan Hopkins
Email: 
investors@quotemedia.com
Call: (407) 645-5295

Note
1 on Non-GAAP Financial Measures

We believe that Adjusted EBITDA, as a non-GAAP pro forma financial measure, provides meaningful information to investors in terms of enhancing their understanding of our operating performance and results, as it allows investors to more easily compare our financial performance on a consistent basis compared to the prior year periods. This non-GAAP financial measure also corresponds with the way we expect investment analysts to evaluate and compare our results. Any non-GAAP pro forma financial measures should be considered only as supplements to, and not as substitutes for or in isolation from, or superior to, our other measures of financial information prepared in accordance with GAAP, such as net income attributable to QuoteMedia, Inc.

We define and calculate Adjusted EBITDA as net income attributable to QuoteMedia, Inc., plus: 1) depreciation and amortization, 2) stock compensation expense, 3) interest expense, 4) foreign exchange loss (or minus a foreign exchange gain), and 5) income tax expense. We disclose Adjusted EBITDA because we believe it is a useful metric by which to compare the performance of our business from period to period. We understand that measures similar to Adjusted EBITDA are broadly used by analysts, rating agencies, investors and financial institutions in assessing our performance. Accordingly, we believe that the presentation of Adjusted EBITDA provides useful information to investors. The table below provides a reconciliation of Adjusted EBITDA to net income attributable to QuoteMedia, Inc., the most directly comparable GAAP financial measure.

QuoteMedia,
Inc. Adjusted EBITDA Reconciliation to Net Income

	Three months ended March 31,
	2021				2020
Net income (loss)	$	23,087			$	(117,325	)
Depreciation and amortization		347,788				305,757
Stock-based compensation		6,939				11,991
Interest expense		1,008				1,527
Foreign exchange gain		(2,448	)			(11,206	)
Income tax expense		796				744
PPP loan forgiveness		(133,257	)			–
Adjusted EBITDA	$	243,913			$	191,488

 

Wednesday, May 12, 2021

Information Services (III)
Raising PT on Back of Strong Operating Performance

ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 700 clients, including more than 70 of the top 100 enterprises in the world, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

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

Raising Price Target. We are raising our 12-month price target for III shares based on the Company’s strong operating performance and favorable operating outlook. At our new price target, III shares would trade at 21.2x our adjusted 2021 EPS, 11.9x our 2021 adjusted EBITDA, and 1.5x our 2021 revenue estimate. These multiples compare to a peer group average of 24.1x 2021 consensus earnings, 14.7x 2021 consensus EBITDA, and 2.3x 2021 consensus revenue.


Area Revenues.  Reported revenues were $38.1 million in the Americas, up 7% versus the prior year, excluding the impact of T&E (up 3% reported); $22.7 million in Europe, up 4%, excluding the impact of T&E (up 3% on a reported basis and down 5% in constant currency), and $5.7 million in Asia Pacific, up 24%, excluding the impact of T&E (up 22% on a reported basis and up 6% in constant currency) …

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.