Friday, November 11, 2022
Michael Kupinski, Director of Research, Noble Capital Markets, Inc.
Patrick McCann, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Strong Q3 results. The company reported another strong quarter, beating our estimates on both revenue and adj. EBITDA. Revenue of $26.0 million was 41% better than our forecast of $18.4 million and adj. EBITDA of $2.4 million beat our forecast of $1.8 million by 34%.
Sell-side revenue jumps. Sell-side revenue from Colossus SSP continues to drive the company’s impressive growth. The SSP generated $18.9 million in the quarter, 64% better than our forecast of $11.5 million.
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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
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