MITK 2013 revenues expected $10.5 mln, market cap $125 mln / VELT $275 mln and valued at $145 mln
MITK 2013 revenues expected $10.5 mln and a loss but still market cap $125 mln / VELT projected to report revenues of about $275 mln and valued at about just $145 mln.
VELT reported close to $300 mln in sales for 2012 and has projected between $255 mln - $285 mln sales for 2013
Look at other companies like GRPN, ZYGA, FB, P, NFLX, AMZN, MM and many other internet or mobile plays and you will not find a better balance sheet than VELT. This stock is way too oversold and undervalued now. Management lost credibility and their few mistakes have cost it big time but restoring investor confidence is what the new CFO is going to do. This company will be lot better in few quarters so have patience guys and accumulate as you are lucky to be able to buy at so attractive low price now.
Sales are one thing profit is another the Velti management haven't grasped yet as they sold out for $milions on the IPO and went on global spending spree with vast overheads and salaries that leave no room for profits for shareholders. The CEO need go before there is any chance of Velt avoiding bankruptcy.
Very very difficult to compare C's. I like the comparison because of how high growth both C's are, but MITK's valuation is higher because it has sole proprietorship over its imaging technology AND its signing GINORMOUS contracts with pretty much all the large banks. VELT wishes it had a few large customers to speak of. There was massive mismanagement of this C and it seems like the old CFO did whatever he could to prop up the stock with fumes and then bail! It's like what the FED is doing right now to the overall market. Sad, and I'm afraid the market will have a similar correction to what VELT just had - its just how it goes.
Velt will most likely drop another 15% then hover pending any news. Ignore today's rebound. This thing has further to fall. It is tremendously under valued if you believe the C has restored integrity with reality. I believe it has and I still think there is a 75% chance of a dilution coming up in the next few months as Ross and his staff start pulling off the boxes from the top shelves for all the unknowns that probably occurred as well over the last two years.