reports
- Andrew Mitchell
OTC Markets Group - Clear focus on longer-term aims
OTCM Markets Group (OTCM) reported FY17 results in line with our expectations, with 7% revenue growth and a lower tax charge driving earnings growth of over 17%. OTCM remains consistent in its focus on positioning itself as a cost-effective, transparent and less onerous way of accessing capital markets. To this end, it has introduced new products, invested in IT, made strategic alliances and continued to work towards further Blue Sky recognitions.
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 valua...
Outlook: Corporate Services revenues surge
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 OTCM’s revenues (we estimate ...
Update: Growth and a special dividend
OTC Markets Group (OTCQX: OTCM) continues to benefit from its initiative to create a US venture market to rival AIM in the UK and TSX Venture in Canada. Revenues continued to rise in Q315 and operational gearing led to a higher operating margin. OTCM has net cash on its balance sheet and is generating considerable cash from its business. It has announced a special dividend for 2015, having also paid one in 2014. OTCM is trading on a yield of 7.4% for 2015 and 3.7% excluding the special dividend....
Update: Continued progress in OTCQB Venture Market
In Q215 OTC Markets Group (OTCQX: OTCM) reaped the rewards from its development of OTCQB Venture Market. Subscriptions surged in the quarter and were mainly responsible for a 21% rise in gross revenue y-o-y and 8% q-o-q. With Q215 expenses unchanged on the previous quarter, Q215 net income rose 29% q-o-q and 48% y-o-y. The Q215 dividend was increased to $0.14 per share from $0.1 in the previous quarter. The company has cash in its balance sheet, an increasing dividend, yields 3.5% and is trading...
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.
Outlook: 2014 net income increases 40%
OTC Markets Group (OTCQX: OTCM) provides regulated marketplaces offering a cost-effective solution for targeting US investors. Using OTCM’s three marketplaces, corporates wanting an informed and efficient US market face less regulatory complexity, and so incur lower costs. 2014 was a record year, with each of its three business lines contributing to overall gross revenue growth of 19% and net income growth of 40%. Particularly strong revenue growth was achieved in Market Data Licensing (38% y-...
Update: Record quarterly revenues and a special dividend
OTC Markets Group (OTCQX: OTCM) provides regulated marketplaces offering a cost-effective solution for targeting US investors. Q314 gross revenues rose 21% compared with Q313, driven by a 36% increase in Market Data Licensing revenue from re-pricing and an increase in subscribers. This led to a 53% increase in operating profits and a 35% y-o-y increase in net income. The company announced a special Q3 dividend of US$0.5 in addition to a usual Q3 dividend of US$0.1.
Update: Record quarterly revenue
OTC Markets Group (OTCQX: OTCM) provides regulated marketplaces offering a cost-effective solution for targeting US investors. Q214 gross revenues rose 15% compared with Q213, driven by a 41% increase in Market Data Licensing revenue from re-pricing and an increase in subscribers. This led to a 41% increase in operating profits and a 13% y-o-y increase in net income. More initiatives should produce revenue growth in 2015. The Q2 dividend was raised to US$0.1, up 67% on Q1.
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