Issuer Direct Corporation: The Market Is Mispricing A Stable, High-Margin Niche Software Provider
- Issuer Direct (“ISDR”) acts as the compliance back office of corporate issuers and mutual funds, allowing clients to manage all compliance functions from a single software interface.
- In August 2013, ISDR acquired Precision IR (“PIR”), a leading global investor relations, webcasting and web-conferencing provider, effectively doubling ISDR’s revenue and client base.
- As of Q2 2014, the PIR acquisition will be fully integrated, and the sales team will be 100% focused on cross selling bundled products to ISDR’s over 1,400 customers.
- The current share price fails to reflect ISDR’s significant cross-selling opportunity and the significant operating leverage inherent in ISDR’s high-margin cloud-based software platform.