STOCKS TELEGRAPH

Tag: SEAC

  • SeaChange International Inc. (SEAC) stock Continues to Rise Premarket on a SEC Filing

    SeaChange International Inc. (SEAC) stock Continues to Rise Premarket on a SEC Filing

    On February 22, SeaChange International Inc. (SEAC) filed a registration statement on Form S-4 with the SEC regarding its proposed business combination with Triller Hold. Co. LLC (TrillerVerz). The stock has been gaining since the filing.

    On February 23, during the premarket session, SEAC stock continued to rise further while it added 18.87% in the previous trading session. After closing the previous session at $1.26, the stock had reached up to $1.33 in the premarket, at the last check. Hence, at the time of writing, the stock had added a further 5.56% in the premarket on Wednesday.

    The multiscreen video delivery and advertising solutions provider, SeaChange International Inc. has a market capitalization of $51.98 million. In the past five days, its 37.21 million outstanding shares have increased by 9.57%. The stock currently stands at a year-to-date loss of 21.25%.

    SEAC’s Proposed Merger with Triller

    On December 22, SEAC and Triller announced entering into a definitive agreement and plan of merger for combining SeaChange and TrillerVerz. Resultantly, the combined company would value at $5 billion approx. TrillerVerz is an AI-powered open garden technology platform for creators.

    Upon the completion of the business combination, SeaChange’s name will change to TrillerVerz Corp. with the new ticker symbol “ILLR”. Moreover, the combined company will work under the leadership of Triller’s CEO, Mahi de Silva. Mr. de Silva will also become the Chairman of the Board of the combined company. Additionally, President and CEO of SEAC, Peter Aquino will join the TrillerVerz team.

    Boards of both companies approved the proposed merger and expect that the transaction will close in Q1 2022.

    Recent SEC Filing

    On Tuesday, the company submitted a filing with the SEC containing a preliminary proxy statement regarding the proposed merger. The Registration Statement is not yet declared effective by the SEC but is an important step towards the completion of the merger.

    SEAC’s Financials

    On December 14, 2021, the company declared its financial results for the fiscal Q3 2022, which ended on October 31, 2021.

    The company reported total revenue of $7.2 million in the quarter against $6.5 million in the previous one.

    Furthermore, the GAAP net loss was $2.1 million or $0.04 on a basic share basis in fiscal Q3 2022. Comparatively, SEAC had a GAAP net income of $0.2 million or $0.00 per diluted share in the previous quarter.

    In addition, at the end of the quarter cash and cash equivalents totaled $17.6 million with no debt.

  • SeaChange International Inc. (SEAC) stock surged in the after hours trading session; here’s why

    At last check, SeaChange International Inc. (SEAC stock) has advanced 13.33% to trade at the price of $1.19 in the after-hours trading session. The SEAC stock completed the previous trading session at $1.05. The company’s shares were in the price range between $1.03 and $1.06. SEAC stock traded 1.24 million shares. In the past week, SEAC stock shed by -6.25% and in the last month shed -8.70%. The current value of SeacChange International Inc. in the market is $51.30 million and has 41.31 million outstanding shares.

    What kind of business model does SeaChange International operate?

    SeaChange International Inc. is a software application company that specifically focuses on the video and advertising business model. The company provides advertising, and state-of-the-art products and services. The company’s primary product offering is multiscreen video and advertising.  Along with the products, SEAC stock also provides licensing, management, marketing and advertising content and consultation, and facilitates aggregation. The proprietary product of the company includes Adrenalin which is a platform based on a multiscreen video back office and efficiently provides a viewing experience from across multiple screens- IP-enabled devices.

    SeaChange also provides a video cloud platform which is Over The Top and allows execution of content in various ways across the networks and devices by content creators, owners, media companies, and IP-enabled cable or entertainment services operators. This platform is known as a media maker and allows to ingest, manage, distribute monetized contents.

    The company also helps in management between different content networks and devices through its SeaChangeAssetFlow which receives, manages and publishes content for viewing. The company also focuses on advertising platforms to provide multiple mediums for casting the advertisements like multiscreen, OTT, on-demand viewing through its proprietary product called SeaChange Infusion.

    Apart from production and management of content, advertisement, and devices, SeaChange offers NitroX which engages in optimal live and on-demand video consumption.

    Further, the organization gives proficient maintenance and specialized help in administrations and services along with marketing consultations. The organization has a client base including media communications organizations, and satellite administrators, just as telecasters and other substance suppliers. SeaChange International, Inc. was fused in 1993 and is settled in Waltham, Massachusetts.

    The SEAC stock fundamentals are completely solid for the first quarter of fiscal year 2022

    SeaChange had released the report for the first fiscal quarter of fiscal year 2022 which ended on 30th April 2021. The financial report showcased a strong balance sheet and executed a roadmap consisting of multi-operational strategies with which it also launched a new product marketing strategy. The SEAC stock has had $21.3 million cash and cash equivalent as of 30th April 2021 and is intending to use the proceeds as capitals costs in increasing the scale, capturing the market share and creating more value for customers and shareholders. Furthermore, SeaChange is also focusing on using cash proceeds for corporate activities and business functions.

    SEAC stock has made the business operations more efficient as it also reported a reduced operating expense by 9% in the first fiscal quarter of 2022 while comparing to the previous fourth quarter of fiscal year 2021. The new platforms on which the company is promoting its marketing strategy are OTT streaming platform, Cable video delivery platform and advanced advertising platform.

  • SeaChange International Inc. (SEAC) stock declines during after-hour. Lets’ see why?

    SeaChange International Inc. (SEAC) stock declines during after-hour. Lets’ see why?

    SeaChange International Inc. (SEAC) stock gained by 4.24% at the last close while the SEAC stock price plunged by 9.76% in the after-hours trading session after SEAC announced its fiscal Q1 2022 financial results. SeaChange International provides live TV and video on demand (VOD) to millions of end consumers globally through hundreds of cloud and on-premises services.

    Financial Highlights

    Yesterday, SeaChange International released its first quarter fiscal 2022 financial results. The financial outcomes of SEAC are stated below:

    • In the first quarter of fiscal 2022, total revenue was $5.1 million, compared to $5.1 million in Q4 fiscal 2021. Product revenue increased to $1.6 million in Q1 fiscal 2022, up from $1.4 million in the fourth quarter fiscal 2021. Service revenue was $3.4 million in the first quarter of fiscal 2022, down from $3.7 million in the Q4 fiscal 2021.
    • At $20.1 million, revenue backlog remained solid at the conclusion of the quarter.
    • In the first quarter of fiscal 2022, net profit was $2.8 million, relative to $2.8 million in the fourth quarter of fiscal 2021.
    • Total operational expenditures fell to $6.6 million in the first quarter of fiscal 2022, down from $7.3 million in the Q4 fiscal 2021.
    • The GAAP loss from operations was $3.8 million, a decrease from the $4.4 million loss from operations in the Q4 of fiscal 2021.
    • GAAP net loss for the first quarter of fiscal 2022 was $4.1 million, or $(0.10) per basic share, down from $4.4 million, or $(0.12) per basic share, in the fourth quarter of fiscal 2022.
    • Non-GAAP loss calculated from operations for the first quarter of fiscal 2022 was $2.8 million, down from $3.5 million, in the fourth quarter of fiscal 2021.

    Robert Pons, SeaChange’s Executive Chairman stated,

    SeaChange is at the heart of the video industry’s shift to OTT video streaming services and distribution to billions of end consumers across the world. SEAC’s strong competitive position, market dynamics, and past success give them the reason to believe fiscal 2022 will be a year of growth and development. Longer term, they anticipate that the effective implementation of their strategic roadmap will result in sustained growth and profitability in the coming years.

  • SeaChange International Inc. (SEAC) stock rises during current market trading. Why is it so?

    SeaChange International Inc. (SEAC) stock rises during current market trading. Why is it so?

    SeaChange International Inc. (SEAC) stock plunged by 2.83% in the last trading closed whereas the SEAC stock is on a rise by 25.24% during current market trading after SEAC announced that they have signed a huge multi-year deal of millions of dollars with one of the biggest broadband service providers in USA. SeaChange International is a publicly-traded multinational video distribution software provider. Video preparation, back-office, media resources management, dynamic advertising insertion, analytics, and a user interface are all part of SeaChange’s “System.

    What is happening?

    SeaChange’s technology has allowed this major broadband service provider to adapt to technological advances in the industry for over 15 years. Under the terms of the new agreement, SEAC would collaborate with the customer to shift its infrastructure to a virtual network that will reduce the operator’s hardware footprint and also increase the service availability. By utilizing SeaChange’s technology to enhance the management of its Ad Servers through remote operator device installations and hardware health management, the customer’s TV service offering can be more monetized.

    Furthermore,

    Christoph Klimmer the SVP of Global Sales and Marketing, SEAC said that Long-term customers, such as this major broadband service provider, are growing their use of SEAC’s technology and are rapidly gaining from their ad technology, which enables cross-platform and dynamic advertisement solutions for cable and IP video distribution. He also added that this significant contract between SEAC and the major broadband service provider includes both license and service parts and has one of the highest average annual prices of any North American contract in over two years. Also, the success illustrates SeaChange’s status as a trusted partner to the world’s most prominent companies, demonstrating SEAC’s efficient go-to-market strategy and comprehensive approach to selling the full value of our software and services.