Bullish option flow was detected in SEAC stock on December 14, 2021.
SEAC Stock Option Flow
Make sure to review this lesson on option flow so that you understand the image above.
SeaChange Reports Fiscal Third Quarter 2022 Financial and Operational Results
On December 14, 2021, SeaChange International, Inc. (NASDAQ: SEAC), a leading provider of video delivery, advertising, and emerging streaming platforms, reported financial and operational results for the fiscal third quarter ended October 31, 2021.
Fiscal Third Quarter 2022 and Recent Highlights
- Secured multi-million-dollar contract renewal with one of the largest multiple-system-operators in the United States, demonstrating ability to successfully monetize long-term relationships.
- Appointed veteran TMT executive Peter D. Aquino as President and CEO, solidifying senior leadership team, and initiating strategic initiatives.
- Generated 9% sequential revenueThe income statement provides a summary of a company's revenue and expenses over a specified period of time, typically a year or a quarter. It shows the company's total revenue, th... growth and 44% year-over-year, driven primarily by signed renewals, and upsells from existing customers.
- Decreased operating expenses by 14% sequentially substantially due to ongoing efficiency measures and approaching break-even and company profitability objectives.
- Ended quarter with solid balance sheetThe balance sheet is a snapshot of a company's financial position at a specific point in time. It shows the company's assets, liabilities, and equity., including $17.6 million in cash and cash equivalents and no debt.
“Our financial results in the third quarter demonstrate our continued commitment to our multi-pronged strategy towards revenue growth, increased profitability, and strategic objectives,” said SeaChange’s President and Chief Executive Officer, Peter D. Aquino. “My first 90 days included a deep dive into the operations, management objectives, and growth products that we are ‘leaning’ into to accelerate our transformation and provide customers with leading-edge software to drive their streaming services. I am very excited about our upside to play a leading role in enabling our customers to capture this new demand.”
Chris Klimmer, Senior Vice President and Chief Revenue Officer at SeaChange, commented: “SeaChange operates in massive markets with large and growing total addressable markets (TAMs) where we are leveraging our deep expertise, strong relationships and long operating history to capitalize on these opportunities. Our pipeline is growing, and we are encouraged by the progress we are making in each of our core operating markets. We are effectively monetizing longstanding Tier 1 relationships in cable, transitioning companies to high-upside revenue sharing models in advertising, creating new offerings through our streaming platform StreamVid, as well as introducing new innovations to support content monetization on Connected TV platforms through FAST channels, a product initiative that we branded Xstream.”
Aquino added: “SeaChange is in an increasingly strong operating position with $17.6 million in cash and no debt, a lean cost structure and growing revenue. My thorough assessment of our business not only reaffirmed but strengthened my belief that our company’s technology platform has significant value, which we are seeking to maximize through both organic and inorganic growth opportunities. Longer term, we believe our continued execution on our strategic plan will drive scale, capture market share, and create even greater value for both our customers and stockholders.”
Fiscal Third Quarter 2022 Financial Results
- Total revenue was $7.2 million, compared to $6.5 million in the second quarter of fiscal 2022. Product revenue was $3.5 million (or 49% of total revenue), an improvement compared to $2.7 million (or 41% of total revenue) in the second quarter of fiscal 2022. Service revenue was $3.6 million (or 51% of total revenue) compared to $3.8 million (or 59% of total revenue) in the second quarter of fiscal 2022.
- Gross profit was $3.7 million (or 52% of total revenue), compared to $4.1 million (or 63% of total revenue) in the second quarter of fiscal 2022.
- Total non-GAAP operating expenses were $5.1 million, an improvement compared to non-GAAP operating expenses of $5.4 million in the second quarter of fiscal 2022.
- GAAP loss from operations totaled $2.0 million, an improvement compared to a GAAP loss from operations of $2.5 million in the second quarter of fiscal 2022.
- GAAP net loss totaled $2.1 million, or $(0.04) per basic share, a decrease from GAAP net income of $0.2 million, or $0.00 per fully diluted share, in the second quarter of fiscal 2022.
- Non-GAAP loss from operations totaled $1.4 million, or $(0.03) per basic share, compared to non-GAAP loss from operations of $1.3 million, or $(0.03) per basic share, in the second quarter of fiscal 2022.
- Ended the quarter with cash and cash equivalents of $17.6 million and no debt.
SeaChange in talks to take Triller public via merger, Bloomberg says
On December 13, 2021, Triller, a social-video platform that considers itself a rival to TikTok, is in talks to come public via a merger with SeaChange International and a deal could be announced as soon as this week, Bloomberg’s Gillian Tan reports, citing a personal with knowledge of the matter. A deal is set to value Triller at a premium to its most recent valuation of $1.25B, according to Pitchbook, Tan says, noting that it’s possible negotiations could fall apart at the last minute. Source: https://www.bloomberg.com/news/articles/2021-12-13/triller-the-social-video-app-said-in-seachange-merger-talks
📈 SEAC Stock Technical Analysis
SEAC is part of the Software industry. There are 339 other stocks in this industry. Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up. SEAC outperforms 97% of them. Both the short-term and long-term trends are neutral. There is resistance at 1.57 from a horizontal line in the weekly time frame. Although SEAC has an excellent technical rating, it does not offer a high-quality setup at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation. Click here to sign up for email alerts on when SEAC stock is a good buy.
