Thursday, August 13, 2020
QuoteMedia (QMCI)
Keeping The Foot On The Pedal
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, DOR, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Q2 results softer than expected. Q2 revenues were relatively stable in a very difficult operating environment and against tough year earlier comparisons. Revenues were $3.029 million, a new quarterly record for the company, in line with our $3.050 million estimate. Operating cash flow, as measured by adjusted EBITDA, was $214,000, below our $486,000 estimate, reflecting investments in new products to be launched later in the year.
Keeping the foot on the pedal. Management indicated that it plans to maintain its investment spending on new products and and features to be launched late in the current quarter. It may back off investment spend if the operating environment deteriorates. But, in our view, the company has enough liquidity and runway for the heightened spending. We believe that the new products and features should …
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