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Issuer Direct Corp. was one of the sponsors for the Benzinga Global Small-Cap Conference that took place on December 8-9, 2020. The information contained in this article in no way represents investment advice or opinion on the part of Benzinga or its writers and is intended for informational purposes only.
According to the Oxford Dictionary, a company is “a business organization that makes money by producing or selling goods or services.” However, companies are more than that. They are the stories we tell, the people we interact with and the bridges we build that can impact our lives meaningfully. Some might even consider this structure as the spinal cord of our modern world.
Issuer Direct Corporation (NYSE: ISDR), an industry-leading communications and compliance technology solutions company for public and private companies, understands that finding ways to tell your company story as a company, gain trust and connect efficiently are crucial elements of success.
In times of a world disrupted for what is considered “the new normal,” adaptation is essential, and only those who can offer the best of what they do under these new circumstances will thrive. The company is currently a hybrid concept where all these changes are taken into account, and its recent results reflect its success as a corporation.
In fact, Issuer Direct, a company focused on curating content and moving the content to an audience member, has shifted its services like printing and distribution toward more digital overall solutions. The company is continuously evolving with the current market. This is what you need to know.
The New Shifted World After The COVID-19 Pandemic
Even though digital platforms and solutions were slowly taking over conventional processes, the current COVID-19 pandemic undoubtedly accelerated this shift. Many who were reluctant about digital work have embraced this change and have switched how they do their daily activities to a virtual environment.
Additionally to its famous content distribution, the Issuer Direct SaaS model has shown growth in the last several months through its webcasting and events-based platform. Its virtual event business has exponentially grown, “Probably 300% to 400% in the last couple of quarters,” said Founder and CEO Brian Balbirnie.
These results go in line with a recent survey that showed that 97% of event marketers believe there will be more hybrid events in 2021. That is why the company has stepped up the game, and through its platform has achieved engaging events with its 1:1 meeting management software and virtual events components.
Issuer Direct webcasting services engage participants while providing easy access to resources like press releases and stock quotes right from the earnings calls. Issuer Direct offers streamlined webcasts and conference calls to archive audio, view slides (user and presenter controlled), and share events via social platforms. Issuer Direct manages hundreds of webcasts in HD video per quarter for some of the largest companies and investor conferences.
The company is a one-stop resource focus to make a corporation’s life easier. In addition to events, its principal platform, Platform id., empowers users by thoughtfully integrating the most relevant tools, technologies, and services, thus eliminating the complexity of producing and distributing financial and business communications. It helps simplify firms’ processes through all the necessary steps in compliance and investor relations by centralizing everything into one platform.
Issuer Direct current brands include Issuer Direct, ACCESSWIRE and Investor Network.
Company’s Latest Overview Highlights
Issuer Direct has a 14-year experience that started in the compliance world and has gradually shifted and adjusted to the industry's needs. On its portfolio of clients, you can see names like Johnson & Johnson (NYSE: JNJ), Ford Motor Company (NYSE: F), GW Pharmaceuticals (NASDAQ: GWPH), and Kellogg's (NYSE: K), among others. Recently the company’s stock price increased significantly by 9.9% over January 2021.
These are some highlights of its recent Q3 2020 to take into account:
The new services added to its Platform id. was the main growth driver to increase margins.
It has clients in 18 different countries.
Q3 Total revenue was $4.88 million, up 21% on a year-over-year basis.
Gross margin for Q3 2020 was $3,495,000, or 72% of revenue, compared to $2,797,000, or 70% of revenue during Q3 2019 and $3,522,000, and 72% in Q2 2020.
Platform & Technology segment sales grew 33% during the quarter compared to the prior-year period.
With no debt and minimal CAPEX, cash on the balance sheet ended in Q3 with a balance of $18.4 million.
During the quarter, the company worked with 1,475 publicly traded customers, compared to 1,394 during the same period last year.
The company signed 42 new contracts with an annual contract value of approximately $360,000.
Overall contract counts to 320 and an average AVC to just under $2.5 million, compared to 255 contacts with AVC of approximately $2 million at the beginning of 2020.
"We are very pleased with the growth in revenue and increased EBITDA margins of the last two quarters,” said Mr. Balbirnie. “As we have announced previously, we continue to be focused on product innovation, the pursuit of acquisition targets in the communications industry and increased market awareness through our sales and marketing expansion."
For more information, please visit the company website.
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