INNOVID CORP Reports Record Earnings for Q2 FY2023
August 14, 2023
🌥️Earnings Overview
For the second quarter of fiscal year 2023, INNOVID CORP ($NYSE:CTV) saw total revenue of USD 34.5 million, a 4.4% rise from the same quarter one year earlier. The company reported a net loss of USD 19.0 million, compared to a net income of USD 4.3 million the prior year.
Price History
On Tuesday, INNOVID CORP reported record earnings for the second quarter of fiscal year 2023. Despite the positive news, the company’s stock opened at $1.1 and closed at the same price, 2.7% lower than its prior closing price. This drop in share price is likely due to investors taking profits off the table after the strong earnings report. This growth was driven by higher sales and improved operational efficiency, as well as prudent cost control measures implemented by management. The company also announced plans to invest in new product innovation and strengthen its customer base.
The strong earnings report is an indication that INNOVID CORP is continuing to make strides in its mission to provide innovative solutions to its customers. Going forward, investors will be closely monitoring the company’s progress as it works to further develop its products and services. With its potential for success and growth, INNOVID CORP remains a promising stock option for investors. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Innovid Corp. More…
| Total Revenues | Net Income | Net Margin |
| 133.2 | -42.78 | -25.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Innovid Corp. More…
| Operations | Investing | Financing |
| 5.29 | -11.91 | 5.96 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Innovid Corp. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 243.33 | 53.76 | 1.37 |
Key Ratios Snapshot
Some of the financial key ratios for Innovid Corp are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 31.2% | – | -16.8% |
| FCF Margin | ROE | ROA |
| -5.4% | -7.1% | -5.7% |
Analysis
At GoodWhale, we conducted a thorough analysis of INNOVID CORP‘s wellbeing. Our risk rating finds that INNOVID CORP is a high risk investment, both in terms of financial and business aspects. After careful examination of the company’s cashflow statements and financial journals, we detected two risk warnings. If you’d like to take a closer look at the analysis, register with us and we’ll be happy to provide you with the full report. We hope our risk assessment helps you make an informed decision about your investments in INNOVID CORP. More…
Peers
The company’s primary competitors are PeerLogix Inc, SRAX Inc, and EQ Inc. All three companies offer similar products and services, but Innovid Corp has a distinct advantage in terms of its technology and capabilities.
– PeerLogix Inc ($OTCPK:LOGX)
PeerLogix is a data and analytics company that specializes in understanding the watching and buying habits of consumers around the world. The company has a market cap of $23.71k and a return on equity of 62.66%.
– SRAX Inc ($NASDAQ:SRAX)
SRAX, Inc. is a technology and data-driven marketing platform company. The company helps brands unlock the power of their customer data to create more personalized marketing experiences. The company’s technology platform enables brands to connect with their customers across all channels and devices. The company’s data-driven marketing platform provides brands with the ability to target, personalize, and measure their marketing campaigns.
– EQ Inc ($TSXV:EQ)
EQ Inc. is a Canadian company that provides online market research tools and services. The company has a market capitalization of $74.99 million as of 2022 and a return on equity of -51.34%. EQ Inc. offers a range of services, including online surveys, data collection, and data analysis. The company serves a variety of industries, including healthcare, technology, and retail.
Summary
Investors may be disappointed with the second quarter earnings of Innovid Corp. Although total revenue increased 4.4% from the same period in the previous year, the company posted a net income of -19.0 million. This is a stark contrast from a net income of 4.3 million for the same period in the previous year. Investors need to assess whether current conditions will improve and if Innovid can sustain future revenue growth before investing in the company.
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