eResearch | In this short video, Tracy Weslosky of InvestorIntel interviews Chris Thompson about eResearch’s Update Report on Moovly Media’s FQ3/2021 Financials.
Moovly Media Inc. (TSXV:MVY | OTC:MVVYF | FSE:0PV2) is a cloud-based media platform for professional-level video production for businesses, educators and home use. The Company focuses on providing leading-edge software that allows users to easily create professional live-action, animation, motion graphics, screenshots, or whiteboard videos without being an expert in video creation. With over 3.7 million users worldwide, Moovly is a leading provider of web-based video tools for creating videos and video presentations targeting marketing, corporate communications, and storytelling.
FQ3/2021 QUARTERLY HIGHLIGHTS:
- Revenue down 20% Y/Y as COVID-19 sales bump eases. Moovly’ssales for the three months ended June 30, 2021, were $0.30 million, a decrease of 20%, compared to $0.37 million in the same quarter a year ago, and lower than our estimate of $0.70 million.
- Sales & Marketing efforts directed towards larger companies, education groups, and strategic partnerships. Expenses in the quarter were almost double that of FQ3/2020 as the Company directed recently raised funds into Sales & Marketing efforts to target larger customers.
- Strategic partnerships are key to driving revenue higher. Enterprise client revenue represents the largest revenue opportunity. We are waiting for an announcement that would show the sales potential as we estimate one Enterprise customer could increase revenue by $1.1 million annually.
We are lowering our Target Price to $0.75 from $1.40 and changing our rating to Speculative Buy from Buy.
You can download the full 18-page report by clicking here: eR-MVY-UR-2021-09-13_v15-FINAL
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