|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||0.1850 - 0.1850|
|52 Week Range||0.1100 - 0.6500|
|Beta (3Y Monthly)||0.96|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov 6, 2019 - Nov 11, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
The company continued to make progress on its product development roadmap and operational improvements, and a mid-year renewal with its largest value-added reseller in China helped boost sales in the second quarter. Despite this, the financial results for the second quarter were below expectations and do not reflect these operational gains. The K-12 market purchase cycle traditionally trends to the third quarter, and in early July the company booked its largest deal in two years, over $600,000.
The company, as planned, did not experience sales growth during the first quarter, the seasonally lowest sales quarter of the year. Despite the difficult comparison, this channel was able to realize success in renewal sales in the first quarter of 2019 with renewal rates over 100 percent, demonstrating that the product improvements made last year in the release of new Fast ForWord products, enhanced with SmartLearning Technology, have had lasting effects. The company continued to make progress enhancing the product experience in the first quarter with the release of Content Acceleration to speed data delivery and performance, data anonymization to support student data security laws, and Single Sign-On with the products through ClassLink.
After successfully implementing the neuroscience-based Fast ForWord® program to close gaps in reading among struggling readers and students with special needs, Norwalk Public Schools in Connecticut has expanded its use of the program to include students in 14 of its 20 schools. Developed by Scientific Learning Corp. (OTC PINK:SCIL), the Fast ForWord program is an online intervention that targets the root causes of reading struggles for fast results. “We’ve expanded our use of the Fast ForWord program to accommodate the needs of students at every level,” said Leah Zilich, the assistive technology specialist for grades K-5 in Norwalk Public Schools.
The company’s growth momentum was demonstrated in three consecutive growth quarters, enabling it to achieve total sales growth of two percent for the year and six percent growth in the K-12 channel. The success is attributed to a growing understanding of the company’s unique solutions, decision makers placing greater importance on evidence-based solutions as required by the federal Every Student Succeeds Act (ESSA), and the release of new Fast ForWord products, enhanced with SmartLearning Technology. Released in the third quarter to positive reception, Fast ForWord Foundations I and Foundations II, the new versions of the flagship Fast ForWord Language and Fast ForWord Language to Reading programs, include an intelligent back-end engine that provides just-in-time interventions personalized to each learner.
With a free trial from Scientific Learning Corp. (OTC PINK:SCIL), educators looking for a different intervention approach can now provide struggling readers and English language learners (ELLs) with a proven, neuroscience-based program to help them catch up, once and for all. Beginning this month, Scientific Learning is offering K-12 public, private, and charter schools a free, two-month trial of the new Fast ForWord® program, including Fast ForWord Foundations I and the newly released Fast ForWord Foundations II program.