Edison Investment Research - OTC Markets Group (OTCM) Update: Record quarterly revenues

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Edison Investment Research

Update: Record quarterly revenues

OTC Markets Group (OTCQX: OTCM) continued to perform well in Q115 with revenue rising as a result of its Corporate services initiative increasing new subscribers to OTCQB, its venture marketplace. Expenses have increased significantly to prepare the company for future growth and to upgrade the IT infrastructure to better meet client requirements and regulatory expectations. The Q115 dividend was unchanged at $0.1 per share.

15/05/2015 5 EN

Underlying

OTC Markets Group

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United States

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Update: High yield with net cash and growth prospects

OTC Markets Group (OTCM) continued to record a high level of revenue in Q116 with gross revenues rising 11% y-o-y and net income 25%. Seasonal factors resulted in a q-o-q decline of 2% in revenue and 21% in net income. The quarterly dividend was maintained at $0.14 per share, the same as in Q415 and its prospective yield of c 7% remains attractive for a profitable company with cash of $22.6m, no debt and exposure to the growth of online capital raising. The shares are trading below our DCF valuation of $19.2 per share (previously $23.7) and at a discount to other market data providers on both ...

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OTC Markets Group (OTCM) operates financial markets for 10,000 US and global securities and organises them into markets to better inform investors. It provides companies with a cost-effective way to access US capital markets. In 2014 it designated its OTCQB Venture Market as a premium market designed to meet the needs of early-stage and venture companies. In 2015, this resulted in a 77% surge in revenue from Corporate Services and a 30% rise in net income. Most of OTCMâ€™s revenues (we estimate c 80%) are earned from subscriptions so are relatively stable. It believes US regulatory changes to ...

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Update: Record quarterly revenues

OTC Markets Group - Clear focus on longer-term aims

Update: High yield with net cash and growth prospects

Outlook: Corporate Services revenues surge

Manx Financial Group - Termination of coverage

musicMagpie - Termination of coverage

Topps Tiles - Accelerating growth through Q125

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