STOCKS TELEGRAPH

Author: Mahnoor Shah

  • Despite any current update, Monday.com Inc. (MNDY) stock surged during after-hours.

    Despite any current update, Monday.com Inc. (MNDY) stock surged during after-hours.

    Monday.com Inc. (NASDAQ: (MNDY) stock declined by 10.40% at last close whereas the MNDY stock price gained by 8.06% in the after-hours trading session. The company has not provided any update as of now. The monday.com Work OS is an open platform that democratizes software power so that businesses may quickly create work management tools and software applications to meet their specific requirements.

    MNDY stock’ Financial Results

    Monday.com released financial results for the third quarter of 2021, which concluded on September 30, 2021, on November 10, 2021.

    • For the third quarter of 2021, revenue was $83.0 million, up 95 percent from the previous year.
    • GAAP operational loss was $29.2 million, down from $40.6 million in the third quarter of 2020.
    • GAAP operating margin was negative 35%, down from negative 95% in the third quarter of 2020.
    • The non-GAAP operational loss was $9.4 million, down from $30.9 million in the third quarter of 2020
    • The non-GAAP operating margin was negative 11 percent, down from negative 72 percent.
    • In the third quarter of 2021, net cash provided by operating operations was $3.8 million, with a positive adjusted free cash flow of $2.9 million, relative to negative $7.2 million in net cash consumed in operating activities and negative $7.8 million in adjusted free cash flow.
    • In the third quarter of 2020, GAAP net loss per basic and diluted share was $0.65, compared to $3.74 in the third quarter of 2019.
    • As of September 30, 2021, we had $876.2 million in cash and cash equivalents, including $735.9 million in net proceeds from our IPO and concurrent private placement.

    Future Outlook

    • The company is expecting its revenue to be $87 to $88 million for the fourth quarter of 2021 which will be a 74% to 75% y-o-y growth however for the full year 2021 the anticipated revenue is $300 million to $301 million, an increase of 86% to 87% y-o-y.
    • For the fourth quarter of 2021, the operating loss is expected to be $23 million to $22 million on a non-GAAP basis. While for the full year 2021the non-GAAP operating loss ranges from $65 million to $64 million, with a negative operating margin of 22% to 21%.
  • Ucloudlink Group Inc. (UCL) stock dropped during after-hours. Here’s the recent update

    Ucloudlink Group Inc. (UCL) stock dropped during after-hours. Here’s the recent update

    Ucloudlink Group Inc. (NASDAQ: (UCL) stock gained by 16.67% at the last close whereas the UCL stock price declined by 5.36% in the after-hours trading session. UCLOUDLINK is indeed the world’s first and largest mobile data traffic sharing marketplace, developing the telecommunications industry’s sharing economy business model.

    UCL stock’ Financial Outcomes

    The unaudited financial statements for the three months ending September 30, 2021, were released by UCLOUDLINK GROUP INC.

    • Total sales for the third quarter of 2021 was US$19.3 million, up 7.4% from US$18.0 million in the previous year’s same quarter.
    • Gross profit for the third quarter of 2021 was US$5.5 million, down 3.0% from US$5.6 million in the third quarter of 2020.
    • The loss from operations for the third quarter of 2021 was US$7.0 million, compared to a loss of US$9.6 million in the previous year’s same quarter.
    • For Q3 of 2021, they saw a net loss of US$7.0 million, compared to a net loss of US$9.7 million in the third quarter of 20202.
    • The adjusted net loss (non-GAAP) for the third quarter of 2021 was US$6.0 million, compared to US$5.7 million in the third quarter of 2020.
    • Adjusted EBITDA (non-GAAP) was negative US$5.4 million in the third quarter of 2021, relative to negative US$5.0 million the Q3 of 2020.

    Future Expectations

    UCLOUDLINK forecasts total revenues of between US$17.5 million and US$18.0 million in the fourth quarter of 2021, reflecting a 2.9 percent to 5.9 percent increase over the same time in 2020.

    The company’s preliminary projections of the market and operational conditions, as well as client demand, are reflected in the above prognosis, which is based on current market conditions. COVID-19, which has had a serious and detrimental effect on the world economy since the first quarter of 2020, continues to pose a number of global hazards, the full extent of which is still unknown. They’ll keep a close eye on COVID-19-related elements like vaccination rollouts, which are difficult to study and anticipate and are vulnerable to change.

    Business Developments

    Patent infringement cases in the United States have progressed significantly. A settlement agreement was reached between us and SIMO Holdings. The originating parties in all instances between UCLOUDLINK and SIMO have made applications to dismiss these cases in accordance with the settlement agreement.

  • Infrastructure and Energy Alternatives Inc. (IEA) stock fell during after-hours, given no current update.

    Infrastructure and Energy Alternatives Inc. (IEA) stock fell during after-hours, given no current update.

    Infrastructure and Energy Alternatives, Inc. (NASDAQ: IEA) stock gained by 1.23% at last close whereas the IEA stock price plunged by 5.69% in the after-hours trading session. Infrastructure and Energy is a major infrastructure building firm that specializes in renewable energy and specialty civil work.

    IEA stock’ Recent Past Development

    Infrastructure and Energy Alternatives today revealed that the Turkey Creek Solar Ranch in Garrard County, Kentucky, has been granted a 50-megawatt (MWAC) solar deal. The engineering, procurement, and construction (EPC) deal were granted to IEA Constructors which is a subsidiary of IEA by Nashville-based Silicon Ranch Corporation which is one of the state’s leading independent solar power producers. IEA Constructors executes utility-scale energy and huge civil infrastructure projects.

    The Turkey Creek Solar Ranch is the very first utility-scale solar plant to get Kentucky Public Service Commission Siting Board approval. Silicon Ranch is investing heavily in Garrard County to support the Turkey Creek project and will own and manage the solar array for the foreseeable future, as is the company’s policy with every project it creates.

    Construction is projected to start in December 2021 and end in November 2022. Silicon Ranch’s Regenerative Energy platform will use controlled sheep grazing and other regenerative pastureland management approaches to maintain the land housing the Turkey Creek Solar Ranch in agricultural production after construction.

    Furthermore,

    Garrard County is located on the outskirts of an economically disadvantaged region that is among the nation’s poorest ten percent of counties. All through the project’s life cycle, the Turkey Creek Solar Ranch will deliver massive financial benefits to the local community and neighboring region through the infusion of capital, essential tax revenues, new jobs, and other indirect and induced effects. The Turkey Creek Solar Ranch will also roughly treble the number of solar megawatts installed in Kentucky, according to the Solar Energy Industries Association.

    IEA will employ roughly 250 craft artisans to complete the project for Silicon Ranch. The bulk of individuals hired will come from Garrard County and the neighboring area, as well as the military veteran community. The program will recruit for roles extending from entry-level to experienced, and IEA will give on-site coaching in tracker assembly, wire harnessing, and module installation to workers seeking utility-scale solar construction expertise.

  • Archer Aviation Inc. (ACHR) stock surged during pre-market, despite any current development.

    Archer Aviation Inc. (ACHR) stock surged during pre-market, despite any current development.

    Archer Aviation Inc.(NASDAQ: ACHR) stock declined by 1.3% at the last close whereas the ACHR stock price gained by 2.47% in the pre-market trading session. Archer’s purpose is to promote the advantages of long-term air mobility. Archer’s mission is to move people quickly, safely, sustainably, and cost-effectively around the world’s cities. For urban air mobility, Archer is working on developing electric vertical takeoff and landing aircraft. The crew of Archer is based in Palo Alto, California.

    ACHR stock’ Recent Development

    As the firm prepares for its first flight later this year, Archer Aviation has built the finest Flight Control and Software team, lately adding Sergio Ferreira to manage the firm’s fly-by-wire flight control system development. Ferreira has been creating, integrating, testing, confirming, and certifying fly-by-wire flight control systems for over two decades. He enters Archer after over a decade with Gulfstream Aerospace, where he mostly worked briefly as the Advanced Aircraft Systems Flight Control Systems Lead.

    He was formerly the Flight Control Systems lead for Gulfstream’s fly-by-wire flight control systems for the Gulfstream G400, G500, and G600, where he had been vital for the formation, integration, validation, and certification of the flight control computers for that aircraft family. As Archer approaches maiden flight, Ferreira’s decades of aviation experience will benefit the Flight Control and Software team.

    Damien Bardon, a founding member of Archer, has been promoted to Director of Vehicle Management Systems. Bardon will head the Flight Control and Software team in the field of critical aircraft devices that allow control of the aircraft in this position.

    Moreover,

    Prior to joining Archer, Bardon worked at Airbus’ Silicon Valley innovation lab, ACubed, where he led the avionics development for the Vahana eVTOL demonstration. He oversaw the creation of the Vahana avionics systems from the initial design to the successful conclusion of a flight test campaign. He’s worked with avionics components related to navigation, communication, flight controls, embedded flight software, as well as other complicated aircraft systems that enable fly-by-wire flight control.

  • Cocrystal Pharma Inc. (COCP) stock surged during pre-market trading. Here’s what happened?

    Cocrystal Pharma Inc. (COCP) stock surged during pre-market trading. Here’s what happened?

    Cocrystal Pharma Inc. (NASDAQ: COCP) stock fell by 6.42% at last close whereas the COCP stock price gained by 1.19% in the pre-market trading session. Cocrystal Pharma is a clinical-stage biotechnology firm focused on researching and developing innovative antiviral treatments that address coronaviruses (particularly SARS-CoV-2), influenza viruses, hepatitis C virus, and norovirus replication.

    COCP stock’ Current Update

    At the World Antiviral Congress 2021 in San Diego, Cocrystal Pharma presented positive preclinical data from its COVID-19 programs and discussed its clinical ambitions to progress two antiviral medicines. “Discovery of Oral, Broad-Spectrum SARS-CoV-2 Mpro Inhibitors: Advancing to Clinical Development,” by Cocrystal President and Co-Interim CEO Sam Lee, Ph.D., is published here.

    Dr. Lee’s talk focused on the benefits of Cocrystal’s structure-based drug discovery platform technology for developing innovative broad-spectrum antiviral leads, which are currently being developed for COVID-19, influenza, and norovirus. He presented the in vitro and in vivo features of Cocrystal’s intranasal and oral major protease (Mpro) inhibitors, as well as the company’s clinical development intentions, as part of the COVID-19 programs.

    In his presentation, Dr. Lee stated that,

    Their focus is to create numerous broad-spectrum antivirals for the cure of COVID-19 that can be taken orally, intranasally, or intravenously. They also think that a COVID-19 antiviral’s wide spectrum coverage against Delta, the most common SARS-CoV-2 variant, and newly developing variants like Omicron is critical. In vitro, our SARS-CoV-2 protease inhibitors demonstrated wide antiviral efficacy against Alpha, Beta, Delta, and Gamma variants. Their high-resolution cocrystal structures, created with their proprietary platform technology, backed up these findings.

    Furthermore,

    Clinical trial designs for CDI-45205, an intranasal lead, and its oral SARS-CoV-2 inhibitors were also revealed by Cocrystal. The Phase 1 study in healthy subjects will be a randomized, placebo-controlled, double-blind, single-ascending-dose/multiple-ascending-dose experiment to assess safety, tolerability, pharmacokinetics, and the influence of food. The Phase 2 trial will be a randomized, double-blind, placebo-controlled trial in individuals with mild or moderate COVID-19 who are not hospitalized, with viral load change as the primary end measure. The FDA’s reaction to Cocrystal’s CDI-45205 pre-IND briefing package submission is still pending.

  • DatChat Inc. (DATS) stock hikes up during after-hours trading. Let’s find out why?

    DatChat Inc. (DATS) stock hikes up during after-hours trading. Let’s find out why?

    DatChat Inc. (NASDAQ: (DATS) stock declined by 3.67% at last close whereas the DATS stock price gained by 10.35% in the after-hours trading session. DatChat Inc. is a blockchain, cybersecurity, and social media start-up that not only safeguards user information on personal devices but also after it has been communicated with others.

    DATS stock’ Current Development

    The Nirad Points Rewards Program (NRD) was launched by DatChat, with the first 1 million members earning 10,000 NRD Points. Users can earn NRD Points by actively participating on the DatChat Social Network+ platform, such as making an account, logging in daily, adding friends, enabling adverts, and building their DatChat network, using a “Proof of Participation” protocol. On the DatChat Social Network+ platform, NRD Points can be redeemed for premium services, upgrades, and eCommerce. For developing and sustaining an account on the DatChat Social Network+ platform, the first 10 million user gets NRD points.

    The Nirad Wallet, which can be accessed on the DatChat Social Network+ app, allows users to keep track of their rewards. Following the introduction of the DatChat Blockchain, the Company is also investigating and studying the feasibility of converting NRD Points into tokens, leading to legal requirements and the Rewards Program’s terms of service. Holders would be able to show “Proof of Stake” on the DatChat blockchain using this feature.

    NRD Points can be exchanged for paid services and advancements within the DatChat ecosystem. They can only be gained, not bought, and DatChat founders and employees will not get any points that they do not acquire through DatChat platform activity. The Nirad Points Reward Program is live on the DatChat platform right now. The DatChat Social Network+ application is accessible for iOS and android for free.

    Darin Myman, CEO of DatChat commented that,

    They see this as a once-in-a-lifetime chance to significantly boost the DatChat platform’s growth by bringing in new users who understand and value blockchain and privacy capabilities. Through community interaction, the Nirad will undergird their blockchain network and fuel their platform.

  • Phunware Inc. (PHUN) stock soars during after-hours trading. Here’s to know why?

    Phunware Inc. (PHUN) stock soars during after-hours trading. Here’s to know why?

    Phunware Inc. (NASDAQ: PHUN) stock gained by 11.68% at last close while the PHUN stock price surged by 40% in the after-hours trading session. Phunware is the creator of Multiscreen-as-a-Service (MaaS), an award-winning, completely integrated enterprise cloud platform for mobile that gives businesses the tools they need to engage, administer, and commercialize their mobile app portfolios and audiences at scale around the world. In both the virtual and physical worlds, Phunware is changing the way consumers and brands interact with mobile.

    PHUN stock’ Update

    Phunware’s Multiscreen-as-a-Service (MaaS) platform is now available on AWS Marketplace which is a digital catalog with thousands of product listings from independent software vendors that make it simple to browse, test, buy, and install software that operates on Amazon Web Services, Inc. (AWS).

    Phunware’s Smart Solutions on Mobile portfolio gives businesses access to all of the MaaS platform’s features and functions, which they can use to push digital transformation. Contactless digital access, room booking, occupancy management, directories, check-in instructions, screenings, feedback tools, news, notifications, analytics, and seamless access and integration with third-party vendors and systems are all possible methods.

    AWS Marketplace makes it easier for customers to deploy technology like MaaS by providing a centralized procurement environment and integrating it with their existing AWS accounts. AWS Marketplace SaaS Contracts further streamlines the process by allowing users to prepay for MaaS based on predicted usage tiers through one-year contracts. Once a customer subscribes to MaaS, the cost is incorporated into their AWS bill, resulting in a consolidated, easy-to-process bill.

    Randall Crowder, Chief Operating Officer at Phunware stated that,

    They’re excited to collaborate with AWS and draw on their more than a decade of industry knowledge to assist businesses in driving digital transformation in a mobile-first future. Customers all across the world will be able to more readily acquire mobile applications that can tech-enabled not only vital processes but also customer and employee interaction, thanks to the addition of their MaaS Platform to AWS Marketplace.

  • AcuityAds Holdings Inc. (ATY) stock fell during pre-market trading. Here’s what’s happening?

    AcuityAds Holdings Inc. (NASDAQ: (ATY) stock declined by 1.66% at the last close while the ATY stock price plunged by 5.35% in the pre-market trading session. AcuityAds is a prominent technology business that offers advertisers a one-stop shop for omnichannel digital advertising with the best return on investment in the industry. illumin, the company’s journey automation solution, combines planning, purchasing, and real-time intelligence into a single platform. Illumin provides different programmatic capabilities by utilizing patented Artificial Intelligence to bridge the gap among implementation and scheduling.

    For the most demanding advertisers, the Company delivers a comprehensive network of privacy-protected data, inventory, brand safety, and fraud protection partners, giving trusted solutions with verified, above-benchmark results.

    ATY stock’ Update

    Elliot Muchnik, CPA, CA, has been named Chief Financial Officer of AcuityAds Holdings. Mr. Muchnik enters AcuityAds after serving as Chief Financial Officer and Corporate Secretary at Richardson Wealth Limited, which is one of Canada’s biggest, licensed independent wealth management businesses with over $35 billion in assets under administration, since 2007.

    Mr. Muchnik assisted Richardson Wealth in achieving phenomenal revenue growth throughout his time there. He previously worked at BMO Nesbitt Burns as a Senior Vice President and Managing Director. Mr. Muchnik graduated from York University with a bachelor’s degree in business administration.

    Mr. Muchnik will take over as Interim Chief Financial Officer from Tatiana Kresling, who has been with the company since September 2021.

    Tal Hayek, Co-Founder and Chief Executive Officer of AcuityAds commented that,

    On behalf of the entire AcuityAds team, I welcome Elliot as our CFO and look forward to his contributions. His extensive financial, operational, and M&A experience make him the ideal choice to help drive AcuityAds’ continued growth and profitability as we continue to advance our illumin platform, which is revolutionizing the programmatic advertising industry. I would also like to recognize and thank Tatiana for her outstanding work as Interim CFO.

  • Following its financial earnings, Zscaler Inc. (ZS) stock soars during premarket

    Zscaler Inc. (NASDAQ: (ZS) stock declined by 2.51% at the last close whereas the ZS stock price surged by 4.82% in the premarket trading session. Zscaler helps companies become more agile, efficient, robust, and secure by accelerating digital transformation. By safely linking users, devices, and applications in any place, the Zscaler Zero Trust Exchange protects thousands of clients from cyber-attacks and data loss.

    ZS stock’ Financial Highlights

    Zscaler announced its financial results for the first quarter of fiscal 2022. Given below is the summary:

    • The first quarter of fiscal 2022 brought in $230.5 million in revenue, up 62 percent year over year.
    • In the first quarter of fiscal 2021, GAAP loss from operations was $74.4 million, or 32 percent of total sales, relative to $42.7 million, or 30 percent of total revenue, in the prior year. Non-GAAP income from operations was $23.9 million, or 10% of total sales, in the first quarter of fiscal 2021, relative to $19.7 million, or 14% of total revenue, in the previous quarter.
    • In the first quarter of fiscal 2021, GAAP net loss was $90.8 million, opposed to $55.0 million the previous year. Non-GAAP net income was $21.0 million in the first quarter of fiscal 2021, up from $20.0 million the previous quarter.
    • In Q1 of fiscal 2021, cash supplied by operations was $93.3 million, or 40% of revenue, relative to $53.5 million, or 38% of sales, in the first quarter of fiscal 2020.
    • As of October 31, 2021, cash, cash equivalents, and short-term investments totaled $1,584.6 million, up to $82.1 million from July 31, 2021.

    Future Outlook

    • For the second quarter and full-year fiscal 2022, the company is expecting a revenue between $240 million- $242 million and $1.00 billion- $1.01 billion, respectively.
    • Non-GAAP income for the second quarter of fiscal 2022 would be $20 million to $21 million however for the full-year fiscal 2022 the non-GAAP net income is expected to be around $90 million to $93 million.
    • The anticipated Non-GAAP net income per share for the second quarter and full-year fiscal 2022 is $0.11 and $0.50 to $0.52 respectively.

  • Party City Holdco Inc. (PRTY) stock moves up during after-hours. Let’s find out why?

    Party City Holdco Inc. (NASDAQ: (PRTY) stock declined by 5.66% at last close whereas the PRTY stock price gained by 4% in the after-hours trading session. Party City Holdco Corporation is the leading vertically integrated provider of decorated party products in North America, and they think the largest vertically integrated supplier of decorated party goods internationally.

    PRTY stock’ Upcoming Event

    Members of Party City Holdco’s executive team will speak at the following investment conferences, according to the company:

    • On Wednesday, December 1, 2021, at 1:00 p.m. CT, the Stephens Annual Investment Conference will take place.
    • On Thursday, December 2, 2021, at 12:00 p.m. ET, the BofA Securities Leveraged Finance Conference will take place.

    PRTY stock’ Financial Highlights

    On November 9, 2021, Party City Holdco announced its financial results for the third quarter of 2021. Given below is the summary:

    • Total net sales were $510.2 million, down 4.4 percent from the third quarter of 2020, owing to the divestment of a large component of our overseas operations in the first quarter of 2021, which was largely offset by strong retail sales growth.
    • To 36.0 percent of net sales, the total gross profit margin grew 270 basis points.
    • Because of the impairment of some indefinite-lived intangible assets recorded in the third quarter of 2020, operating expenses were $163.6 million, or $41.4 million, lower than in the third quarter of 2020.
    • According to GAAP, the company lost $2.8 million, or $0.02 per diluted share.
    • For the third quarter of 2020, adjusted net income was $2.9 million, or $0.02 per diluted share, relative to adjusted net income of $11.0 million, or $0.10 per share.
    • Adjusted EBITDA was $42.9 million in the third quarter of 2020, compared to $49.2 million in the previous quarter.

    Brad Weston, CEO of Party City, commented

    They are really delighted with their third-quarter performance, which exceeded their expectations. They continued to be celebration-focused and took actual actions to boost relevancy with their clients to guarantee they are top of mind when it comes to everything joyous. As a result, their robust performance through October was powered by continuous success in their key categories. The team’s exceptional execution of their revised Halloween go-to-market strategy among all four channels of their business, including Party City, Party City.com, Halloween City, and Wholesale, drove the Halloween performance.