Initial HC Wainwright Coverage Report...Anyone have a good look at this report that Golden posted last week? Nice and all that we get a Buy rating, although I sure hope we're gonna be worth more than a buck(!) a year from now. A lot of company strengths noted that we've bantered about on here a thousand times and certainly a little net new in the report as well. Most surprising to me was the financial projections. I have to assume this Scott Buck (the analyst) at least got a few minutes phone time with either Peter or Karen Hersh, but he's projecting revenue for Q3 of only $3.35MM ($250K more than Q1) and $3.6MM for Q4, for total annual revenue of $13MM. I thought that the base shelf prospectus indicated that revenue was to be $17MM for this year? Being honest, I didn't read the base shelf prospectus, but a bunch of people on here said that it stated our revenue for this year (per Xtract) was going to be $17MM??? F'25 is projecting $22MM in revenue by Buck-----so basically what Devolve just reported for their last quarter. I hope Buck is off a bit with these projections. He does note that he is leaning to the conservative side and that a few things could definitely turn up the volume on the numbers, but considering last fall Peter was doing a zillion interviews talking about Rocket Rides in every one of them, it's a bit surprising to see 4 consecutive quarters of $3MM'ish in revenue. I really would have expected that Rocket Ride means a million dollar lift per quarter at minimum?
Anyway, hopefully there are some nice surprises to come with some Pro team venue announcements soon and a nice big school district or something. Crossing my fingers... Report link below once again. Bar1dig noted last week that this Buck dude bats about .300 with his ratings so will be interesting to see how accurate he is with our beloved XTRA going forward...
https://acrobat.adobe.com/id/urn:aaid:sc:VA6C2:47dd659c-753b-4b45-8bfe-1eac1e668120