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16 June 2021
10:02 hour

SeaChange slides 9% as revenues drop nearly a third

Seeking Alpha

10/06/2021 - 23:39


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  13. Oil and gas on fire! (12/05/2021 - Reddit Stocks)
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  14. SeaChange International DD and all the sea that is changing, well internationally. (09/04/2021 - Reddit Stocks)
    It's my first DD. About SeaChange. SeaChange is a leading supplier of Video Delivery Software Solutions. Our solution powers hundreds of cloud and on-premise video delivery platforms, servicing over 50 million subscribers worldwide. SeaChange offers value-based engagement which provides content and service providers with a complete software delivery platform for linear, VOD and TSTV over managed and unmanaged networks. The SeaChange Framework solution includes video back-office, media asset management, targeted advertising management, analytics and the client interface for STBs, Smart-TVs and mobile devices. Our solution is available as a product or managed service deployed on-premises, in the cloud or as a hybrid. On 3/29/21 SeaChange made the announcement that they and landed a multi year multimillion dollar deal with one of the biggest broadband providers in the United States which over the next 48 hours doubled their share from $1.03 to into the $2 range and their volume: 3/29: 386 million 3/30: 50 million 3/31: 30 million These numbers are way outside of their average which is now looking like 10 million Right now there is speculation on who the deal is with. A few hours of research and it's a fair assumption to go with Comcast. Comcast and SeaChange have done business some 20 years ago and their contract is available online for anyone to lookup. I dont think i can post links but contracts.onecle .com/seachange/ comcast.video.2000.12.01.shtml A very interesting clause in this contract pertains to the announcement: SeaChange and Comcast shall agree on the form and content of any public announcement that shall be made concerning this Agreement and the transactions contemplated hereby, and neither SeaChange nor Comcast shall make any such public announcement without the consent of the other, except as required by law. Sounds like a real dickish thing to do in a contract but it does explain why the announcement was so vague and only giving as much information as they are allowed. There is also the Q4 report from Comcast where they are planning move to virtualization as well as a few things i noticed on a social networking platform. The announcement is anticipated to be in the earnings call on Tuesday April 13th at 5:00pm ET On 3/30 there was an announcement for a public offering of 10 million shares at $1.85 per share that was quickly filled. Aegis Capital Corp. is acting as the sole book-running manager for the offering and is now closed. During 2020, SeaChange went from selling individual services to full turnkey solutions. Their legacy framework sales are down but they are correlated the increase of their new framework. This is a huge sign of customer retention and migration on to the new platform as well as securing new business. Fourth Quarter Fiscal 2020 and Recent Operational Highlights Secured a record 11 customer wins with multi-year commitments for the Framework video delivery platform, amounting to more than $15 million in total contract value and bringing the total number of Framework customers to 26 with more than $54 million in total contract value. Completed the transition to a 100% software and cloud solutions provider. Achieved a 24% increase in bookings to $17.3 million from $13.9 million in the same period last year. Completed numerous cost-optimization initiatives, resulting in more than $12 million in annualized cost savings. Fourth Quarter Fiscal 2020 Financial Results Total revenue increased 14% to $19.3 million from $17.0 million in the same period last year. Product revenue increased 69% to $13.2 million (69% of total revenue) from $7.8 million (46% of revenue) in the same period last year. Service revenue decreased 33% to $6.1 million (31% of total revenue) from $9.1 million (54% of total revenue) in the same period last year. Gross profit increased by 29% to $14.0 million (73% of total revenue) from $10.9 million (64% of total revenue) in the same period last year. GAAP income from operations totaled $3.6 million, an improvement from a loss of $19.9 million in the same period last year. Non-GAAP income from operations totaled $4.8 million, or $0.13 per basic share, an improvement from a loss of $1.2 million, or $(0.03) per basic share, in the same period last year. GAAP net loss totaled $43,000, or $(0.00) per basic share, a significant improvement from a loss of $19.6 million, or $(0.55) per basic share, in the same period last year. Cash, cash equivalents, restricted cash and marketable securities totaled $13.9 million at year-end, and no debt. Yes, they are cash flow positive and on top of that they have a 20 million dollar offering which puts them in a very good place for either expansion or acquisition. They have also been busy with a number of 8-k filings over the last 2 weeks. Overall, they have a pretty slick product and i recommend anyone to go to their website and check them out. They have a solid solution. Reading through their contracts from 20 years ago was so nostalgic when they are standing up infrastructure on 18gb drives with regedits and mpeg2 formatted video but i digress. As it stands today, i believe that there are we are approaching T-6 (4/2 was no trading) where it could get really interesting. Looking at iborrowdesk and fintel this has been shorted to oblivion and well into the 400 millions of shares. Insider trading looks good and no sales in the last 60 days. Breakdown of shares: 17.43% % of Shares Held by All Insider 18.29% % of Shares Held by Institutions 22.15% % of Float Held by Institutions 80 Number of Institutions Holding Shares TL;DR Currently $seac is trading at $1.42 which is a bargain. In the upcoming days with all things considered who knows where it could end up. I like the company and I like the stock.   submitted by   /u/VarianceOvertime [link]   [comments]
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  15. Maharashtra mandis report 20% loss due to lockdown (12/05/2021 - Financial Express)
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    Hey there reddittors. I am a long term investor having some money (a considerable amount for me) in Goldman Sachs shares. I tried to analyse the recent drop and came to the conclusion that it was mostly due to the decline of the 10 year treasuries rate. However the inflation continues to rise and a rebound seems very probable. Do you see this drop (GS, BAC, JPM were impacted among others) as the beginning of a considerable correction or more as an opportunity to buy more? Would like to discuss that here. ps: Sorry for my English, I am not a native speaker   submitted by   /u/BacteriaOfWallStreet [link]   [comments]
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