There have been 45mm online streams of the NCAA March Madness Basketball Tournament games this year, up 158% year-over-year and 60% of were over mobile devices! Concurrent (CCUR) is an extremely undervalued low floater that will prosper from this market!
CCUR's MediaHawk technology for multi-screen video delivery can deliver any video format, to any screen, at any screen, over any network. CCUR was the first software company to introduce a commercial video on demand (VOD) service over a decade ago with Time Warner Cable. Today, CCUR has a 30% market share of the VOD space with 212 VOD deployments across 4 continents and a reach of 50 million VOD homes.
CCUR's U.S. clients include Time Warner Cable, Cox, Charter, and Bright House. CCUR soared from $7 to over $200 during the initial VOD boom and now cable TV operators are about to upgrade their VOD infrastructure and we will see a new multi-screen video delivery boom in support of tablets and smartphones! CCUR just signed Virgin Media (VMED) the #1 cable TV provider in the UK with 3.8mm subscribers. CCUR is now powering VMED's new Virgin TV Anywhere service for tablets and smartphones. CCUR is powering a similar multi-screen service for Jupiter, the largest cable TV company in Japan.
CCUR closed last week at only $7.24 per share with 9.2mm shares outstanding and a very low market cap of $66.6mm with $24.6mm in cash, no debt, and an enterprise value of just $42mm or just 0.67X its $62.59mm in trailing revenues! CCUR's EPS has been exploding, with last quarter's EPS of $0.08 being double the previous quarter and quadruple two quarters ago. CCUR's main VOD/multi-screen rival Seachange (SEAC) is losing money, yet it's trading with an enterprise value/revenue ratio of 1.81, which would value CCUR at $15. Both companies are rumored takeover targets with major industry consolidation taking place!