RPX Corp.: 6x EV/FCF For This Patent Troll Killer
Brian Grosso • 16 Comments
Brian Grosso • 16 Comments
RPX Corporation Offers A Stable 20% Free Cash Flow Yield
RPX Corporation: A Cheap And Misunderstood Patent Company With A Moat
Boris Marjanovic • 14 Comments
Boris Marjanovic • 14 Comments
Tue, May 24, 2:54 PM
- Under a second licensing deal with IP risk-management services firm RPX (RPXC), Spherix (SPEX +79.1%) "receives a cash payment and return of all of the Series H preferred stock of Spherix presently held by RPX, representing the entire class of Series H shares outstanding." In return, Spherix is granting RPX a patent portfolio license RPX can sub-license to its clients.
- With the company having a market cap of less than $6M going into today, Spherix has blasted off on the news.
Tue, May 3, 4:32 PM
Mon, May 2, 5:35 PM
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Wed, Feb. 10, 3:58 PM
- RPX (NASDAQ:RPXC) beat Q4 estimates and issued strong revenue guidance - Q1 revenue of $78M-$80M vs. a $75.3M consensus, and 2016 revenue of $324M-$347M vs. a $305.5M consensus.
- However, the patent services firm forecasts non-GAAP net income will drop to $39M-$46M from 2015's $54.7M ($0.99/share). The 2016 EPS consensus is at $0.89.
- Subscription revenue rose 7% Y/Y in Q4 to $67.7M, and clients on RPX's network rose by 10 Q/Q to 255 (inc. 89 insurance policy holders). SG&A spend rose by $2.1M Y/Y to $20.2M. RPX ended 2015 with $326M in cash and no debt.
- RPX's Q4 results, earnings release
Tue, Feb. 9, 4:16 PM
- RPX Corporation (NASDAQ:RPXC): Q4 EPS of $0.21 beats by $0.07.
- Revenue of $72.83M (+7.5% Y/Y) beats by $3.62M.
- Shares +0.49%.
Mon, Feb. 8, 5:35 PM
Dec. 16, 2015, 12:45 PM
Dec. 16, 2015, 12:25 PM
- RPX (NASDAQ:RPXC) has nosedived following news it's paying $232M in cash to buy legal discovery services firm Inventus Solutions. Not helping: Baird has downgraded the patent risk-management services provider to Neutral.
- Shares have made new 52-week lows, and are down 16% YTD. They trade for 13x a 2016 EPS consensus (not yet adjusted to account for the Inventus deal) of $0.90.
Dec. 15, 2015, 4:30 PM
- RPX (NASDAQ:RPXC) is buying Inventus Solutions, a Chicago-based legal discovery project management and eDiscovery services firm, for $232M in cash. The deal is expected to close in mid-to-late January, and is forecast to contribute $50M-$60M to RPX's revenue.
- RPX CEO John Amster: "We see this acquisition as a natural extension of RPX's expertise in mitigating patent risk and lowering legal costs for our clients ... it is the right time to expand the services we can provide to mitigate risk and lower costs for corporate legal departments. Adding new services related to litigation and compliance discovery does this, while profitably accelerating our revenue and cash flow growth ... it will also help increase our footprint inside our clients' legal departments, which will strengthen our ability to achieve RPX's long-term goal of establishing a broad, de facto patent clearinghouse."
- The acquisition follows a 2014 deal to buy the Rockstar Consortium's remaining patents for $900M (RPX directly contributed just $35M). Shares haven't yet moved after hours.
- RPX also announces it has reached deals to secure licensing rights for 20+ companies to chip-related patents owned by private Round Rock Research. The transaction is said to be valued at $100M+; RPX will receive a fee for its work on the deal.
Oct. 27, 2015, 4:16 PM
- RPX Corporation (NASDAQ:RPXC): Q3 EPS of $0.19 beats by $0.04.
- Revenue of $68.21M (+4.3% Y/Y) beats by $0.08M.
Oct. 26, 2015, 5:35 PM
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Jul. 28, 2015, 4:18 PM
- RPX Corporation (NASDAQ:RPXC): Q2 EPS of $0.20 beats by $0.03.
- Revenue of $67.55M (+5.1% Y/Y) beats by $0.19M.
Apr. 29, 2015, 2:43 PM
- RPX Corporation (RPXC +8.5%) rallies after beating estimates with its Q1 report.
- Subscription revenue rose 9% to $66.2M during the quarter.
- The company expects subscription revenue of $265M to $275M for the full year.
- Client count +20 net Q/Q to 224.
- Previously: RPX Corporation beats by $0.02, beats on revenue
Apr. 28, 2015, 4:27 PM
- RPX Corporation (NASDAQ:RPXC): Q1 EPS of $0.38 beats by $0.02.
- Revenue of $83.3M (+34.6% Y/Y) beats by $0.65M.
Apr. 21, 2015, 3:27 PM
- Today's notable tech gainers include Chinese online retailer Vipshop (VIPS +4.9%), European chipmaker STMicroelectronics (STM +5.1%), IP risk-protection services firm RPX (RPXC +4.1%), Wi-Fi hardware maker Aerohive (HIVE +4.8%), Indian ISP/data services firm Sify (SIFY +5.2%), and software outsourcing firm Luxoft (LXFT +3.9%). The Nasdaq is up 0.5%.
- Notable decliners include 3 e-commerce-focused firms: Online women's/children's apparel seller Zulily (ZU -6.5%) e-commerce listing/monetization service provider ChannelAdvisor (ECOM -5.1%), and online coupon/promo code provider RetailMeNot (SALE -3.9%). Also off is ultracapacitor maker Maxwell (MXWL -6.1%).
- Vipshop is once more near a high of $30.59. STMicro is closing in on a 52-week high of $10.00 ahead of its April 30 Q1 report. Possible helping Aerohive: The company has launched a new channel partner program and hired Riverbed/EMC vet Johnna Bowley to run it.
- Maxwell is once more within a dollar of a 52-week low of $6.29; its Q1 report is due on Thursday. Zulily is slightly more than a dollar above a post-IPO low of $12.34. ChannelAdvisor reports on May 4, and RetailMeNot on May 5.
- Previously covered: Cybersecurity stocks, chip equipment stocks, 3D Systems/Stratasys, ARM, ServiceSource, Ultra Clean, 58.com, Tremor Video, Voltari, Rambus, Sanmina
Feb. 26, 2015, 7:14 PM
- Aereo -- the streaming-TV service that cratered after it lost to broadcasters before the Supreme Court last summer -- hoped to get $4M-$31M at its bankruptcy auction, but were picked clean for less than $2M total by 10 bidders.
- TiVo (NASDAQ:TIVO) picked up Aereo's customer list and trademark, and patent risk-management company RPX (NASDAQ:RPXC) got the patents. "We are very disappointed," said Aereo lawyer William Baldiga.
- Meanwhile in the key litigation, a lower court is determining how much in damages Aereo owes angry broadcasters (DIS, CBS, FOXA, CMCSA), and it's likely to be in the tens of millions of dollars.
RPX Corp. provides new patent acquisition services. It is a provider of patent risk solutions, offers defensive buying, acquisition syndication, patent intelligence and advisory services. Its solutions help companies reduce patent-related risk and expense. The company offers a subscription-based... More
Industry: Business Services
Country: United States
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