Glowpoint: Solid Execution On Growth Strategy Is Showing Impressive Results
- Management is two years into the implementation of a successful growth strategy comprised of investment in a cloud-based video collaboration services platform and shift away from legacy services.
- Despite a modest revenue decrease partly due to this shift, gross margins and EBITDA reached the highest level in >5 years; EBITDA growth should accelerate further as revenue actually increases.
- As the platform becomes increasingly automated, gross and EBITDA margins should increase to ~60% and 20%+ from 45% and 17% currently.
- A refinancing provided by its largest shareholder removed a near-term debt maturity; the exchange of preferred shares eliminated a $10.2 million liquidation preference and annual dividends of $600,000.
- Glowpoint is the only publicly-traded pure play in the video collaboration market; steady investments by strategic buyers in the past year support the investment thesis.
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Glowpoint Inc is a provider of video collaboration services and network solutions. Its services enable customers to use video conferencing as an efficient and effective method of communication for their business meetings.
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