Novra Technologies Inc V.NVI

Great news

[mlmack66]

MISTiQ seems to be gaining a lot of traction. Stock price seems severally undervalued, trading at 0.32 * revenue with 1.2 million in adjusted EDITBA over the past 4 quarters. 1*revenue =$0.23, 6*EDITBA= $0.21. First quarter was a bit disappointingly but I can see much better reports in the near future with the current backlog and the recent contract wins.

[Ciao]

The recurring rev growth is great to see and was 60% of total rev. Having consistent recurring rev will alleviate the concern of lumpy rev from hardware sales. They need to show another quarter or 2 of significant rev growth for the market to take notice.

[theinvestor22]

Hey Ciao, long time.  I hope you're well. I not seeing anything in the latest financial release that would indicate 60% is recurring revenue.  The best I can find is this from note 10 to the financial statements: Hardware and Software $ 431k Services, Support and Extended Warranty $604k Other $52k Total $ 1,087 And this from the NR: Products   $483k Services

[Ciao]

You're right, I may have jumped to gun to guess that services is mainly recurring rev., let me ask NVI.

[Ciao]

It's currently 20 - 25% of total revenues.

[theinvestor22]

Thanks for the clarification.  That's actually not bad at this stage.

[Ciao]

From the MD&A; An important component of our R&D strategy over the last three years has been the continued development of the MISTiQ platform for cloud-based distribution of content. We are also expanding our software products—including Datacast XD content management and distribution—into the Software as a Service (SaaS) model. This recurring-revenue model is increasingly popular with

[theinvestor22]

Yes, I did see that, but it's always good to be reminded of the direction towards SaaS. This may not be the case here, but I've seen it before when companies transition to more of a SaaS model, that revenue remains flat for a while before increasing again.  Of course, this has to do with SaaS revenue being smaller in the initial year than a whole system would be.  Once revenue