Before Mobile Deposit the revs would have been about $2-$2.5M for 2Qs. So fundamentally, the new product, with it's lumpy "buy- a- big- block-up front- and- forget- about- it" revenue model, has produced about triple the high margin revs. For two Q's running.
The market awards a price of $5. To me, it's based on fundamental results.
Before these last two Qs, they had the disastrous $1.2M Q.
When that was reported, it's like the tip of the iceberg actually submerged below the surface, freaking out investors. How do you value the thing BELOW the surface when there is nothing even ABOVE it.
The tip appears again. Looks good. Very reassuring.
Just BEING brings greater relevancy to the submerged. IMO.
Revenue for 2012 was $9 million. Revenue for 2011 was $10 million. They are on pace to break revenue records. With 400+ banks live and how many more will be live next few months they will most likely get there.