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Last $11.22 USD
Change Today -0.29 / -2.52%
Volume 26.1K
MODN On Other Exchanges
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As of 4:02 PM 07/29/15 All times are local (Market data is delayed by at least 15 minutes).

model n inc (MODN) Key Developments

Model N Seeks Further Expansion

Model N, Inc. (NYSE:MODN) is expanding itself and will use it as a platform for mergers and acquisition and for consumptions of other kind of new companies.

Model N, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended March 31, 2015; Provides Earnings Guidance for the Third Quarter Ending June 30, 2015; Revises Earnings Guidance for the Full Year Ending September 30, 2015

Model N, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended March 31, 2015. For the quarter, the company’s total revenues were $22,676,000 against $20,650,000 a year ago. Loss from operations was $4,317,000 against $4,897,000 a year ago. Loss before income taxes was $4,407,000 against $4,950,000 a year ago. Net loss was $4,599,000 or $0.18 basic and diluted per share against $5,032,000 or $0.21 basic and diluted per share a year ago. Adjusted LBITDA was $832,000 against $1,059,000 a year ago. Non-GAAP loss from operations was $1,717,000 against $1,898,000 a year ago. Non-GAAP net loss attributable to Model N Inc. common stockholders was $1,999,000 or $0.08 diluted per share against $2,033,000 or $0.08 diluted per share a year ago. Cash flow used by operations was $3,800,000, which after adding capex of $300,000 and $700,000 of capitalized software, produces a negative free cash flow of $4.8 million. This compares to cash used by operations of $4,000,000 in the second quarter of last year, which adding $400,000 of capex produces a negative free cash flow of $4.4 million. For the six months, the company’s total revenues were $44,777,000 against $42,209,000 a year ago. Loss from operations was $8,524,000 against $7,910,000 a year ago. Loss before income taxes was $8,571,000 against $7,990,000 a year ago. Net loss was $8,898,000 or $0.35 basic and diluted per share against $8,155,000 or $0.34 basic and diluted per share a year ago. Adjusted EBITDA was $1,632,000 against $873,000 a year ago. Non-GAAP loss from operations was $3,367,000 against $2,587,000 a year ago. NonGAAP net loss attributable to Model N Inc. common stockholders was $3,741,000 or $0.15 diluted per share against $2,832,000 or $0.12 diluted per share a year ago. Net cash used in operating activities was $7,260,000 against $5,745,000 a year ago. Purchases of property and equipment were $1,022,000 against $518,000 a year ago. For the third quarter ending June 30, 2015, the company expects total revenues to be in the range from $23.1 million to $23.4 million. NonGAAP loss from operations is expected to be in the range of $2.3 million to $2.5 million. NonGAAP net loss per share is expected to be in the range of $0.09 to $0.10 based upon weighted average shares outstanding of 26.2 million shares. For the full year ending September 30, 2015, the company expects total revenues to be in the range from $92.5 million to $93.5 million. NonGAAP loss from operations is expected to be in the range of $7.5 million to $8.5 million. NonGAAP net loss per share is expected to be in the range of $0.29 to $0.32 based upon weighted average shares outstanding of 25.9 million shares. Non-GAAP loss from operations in the range of $7.5 million to $8.5 million, an increase in the bottom end of the range of $500,000 from the previous quarter. Non-GAAP net loss per share in the range of $0.29 to $0.32 based on a weighted average share count of 25.9 million shares. This is a $0.03 improvement at the bottom end of the range compared to prior guidance.

Model N, Inc. Announces Board Changes

Model N, Inc. announced that Sarah Friar provided notice to the company of her intention to resign from board of directors, effective May 31, 2015. Ms. Friar's decision to resign was not due to any disagreements with management. Effective May 7, 2015, board of directors elected Alan Henricks to serve as a Class II director whose current term will expire at 2018 annual meeting of stockholders. Mr. Henricks will also serve as a member of the Audit Committee of board of directors.

Model N, Inc. to Report Q2, 2015 Results on May 11, 2015

Model N, Inc. announced that they will report Q2, 2015 results at 5:00 PM, Eastern Standard Time on May 11, 2015

Model N, Inc., Q2 2015 Earnings Call, May 11, 2015

Model N, Inc., Q2 2015 Earnings Call, May 11, 2015

 

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Industry Analysis

MODN

Industry Average

Valuation MODN Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 3.5x
Price/Book 3.5x
Price/Cash Flow NM Not Meaningful
TEV/Sales 2.5x
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