Thu, Oct. 8, 9:53 AM
- Elephant Talk Communications (NYSEMKT:ETAK) is 13.1% higher on news that it entered into a cloud service and software license deal to provide MVNO platform service to a "Tier 1" U.S. mobile operator.
- The company will support a number of MVNO brand launches in the deal beginning later in the quarter.
- It's finished primary integration of its solution platform with the operator's systems.
Wed, Sep. 30, 4:26 PM
- Elephant Talk (ETAK -6.7%) has retained Dawson James Securities to advise it on its strategic options for its ValidSoft UK subsidiary.
- The group will work with the board's Special Committee to look at options and conduct due diligence. "Although no assurances can be given that a transaction will be completed, the Board believes that it is prudent to now retain a qualified adviser to assist it in evaluating the merits of the various options available to Elephant Talk as we seek to maximize shareholder value," said committee chairman Carl Stevens.
- The company had said it was looking at a sale, JV or merger for the unit with it in a strong strategic position, and believing that Elephant Talk's share price didn't reflect the intrinsic value of the company.
- Previously: Elephant Talk -7.9%, exploring alternatives for ValidSoft unit (Aug. 19 2015)
Mon, Sep. 28, 9:54 AM
- Elephant Talk Communications (NYSEMKT:ETAK) is up 4.3% after news that it's splitting its CEO/chairman roles and seeking a new chief executive.
- Steven van der Velden will stay on as chairman of the board, and relinquish the CEO role once the company has a qualified replacement. Three independent directors will form the search committee.
- The board also appointed Roderick de Greef to rejoin the board as director and to chair the Audit Committee. De Greef held those roles from 2008-2011.
Wed, Aug. 19, 9:58 AM
- Elephant Talk (NYSEMKT:ETAK) is off 7.9% as it says it's formed a committee to look at a sale, JV or merger for its ValidSoft UK subsidiary.
- Chairman and CEO Steven van der Velden is on the committee along with Carl Stevens and Yves van Sante. "We do not believe ETAK's current share price accurately reflects the company's intrinsic value," says van der Velden.
- He says they believe ValidSoft is in a strong strategic position after signing a new voice biometrics contract with a large U.S. corporation, and that the committee hopes to have recommendations for the board within 90 days.
Tue, Aug. 11, 9:12 AM
- Elephant Talk (NYSEMKT:ETAK) swung to a profit in its Q2 earnings report though revenues missed expectations.
- Adjusted EBITDA of $2.2M was up from $441K and beat an expected -$230K. The results include a $13.5M settlement payment from Iusacell related to severing their business due to Iusacell's takeover by AT&T, and recognizing previously deferred revenue of about $11.6M related to Iusacell.
- It says it's finalizing a Master Services Agreement with a Tier 1 U.S. operator and preparing to deploy service this fall, as well as finished pre-deployment activities to support a Brazilian MVNO contract.
- Conference call to come at 11 a.m. ET.
- Press Release
Tue, Aug. 11, 8:51 AM
Wed, Jul. 22, 10:28 AM
- Elephant Talk Communications (NYSEMKT:ETAK) is 3.1% lower as it says it's wrapped an initial restructuring, including staff reduction, to save $5M from its annual operating budget.
- The company says it needed to refocus its business following the loss of a large Mexican customer following its acquisition this year. Elephant Talk agreed to a $13.5M settlement from Iusacell last month to sever its business after Iusacell's takeover by AT&T.
- Elephant Talk will focus on supporting growing Mobile Network Operator and MVNO businesses worldwide. It's dividing into two units: Delivery & Operations (led by one co-president, Armin Hessler), and Sales & Innovation (led by co-president Martin Zuurbier).
Tue, Jun. 16, 9:02 AM
- Elephant Talk Communications (NYSEMKT:ETAK) is up 11.8% premarket after signing a settlement of about $13.5M (in Elephant Talk's favor) to end their mobile network enablement relationship.
- The deal lets Iusacell -- now a part of AT&T -- get infrastructure suppliers aligned with its new parent, and doesn't preclude future business between the two.
- The settlement consists of $12.6M in cash and the rest in exchange of obligations. It "provides us with significant means to carry out our business plans by providing an important cash settlement and allowing us to remain the owner of the platforms in Mexico," says Elephant Talk CEO Steven van der Velden.
Thu, May 28, 10:16 AM
- Elephant Talk Communications (NYSEMKT:ETAK) is up 8.1% after news of a contract with new Netherlands MVNO (mobile virtual network operator) Open Mobile, the fifth Dutch MVNO that it's enabling.
- Open Mobile will rely on Elephant Talk's software defined network to automate provisioning and orchestration.
- The contract is already generating revenue for Elephant Talk, CEO Steven van der Velden says.
Tue, May 12, 9:47 AM
- Amid a multi-quarter restatement due to errors in revenue recognition, Elephant Talk (NYSEMKT:ETAK) is slipping 6.7% as it posted in-line first-quarter earnings with revenue that beat expectations.
- "Although the restatement has had an impact on our year-over-year results, it is important to note that these adjustments do not change the amount of revenue and cash generated, only the timing of its recognition," says CEO Steven van der Velden.
- GAAP revenue of $5M was down from a restated $5.4M of a year ago; Non-GAAP revenue of $8M was up from $6.5M Y/Y. Net loss of $2.1M, vs. the restated loss of about $5.2M from Q1 2014.
- Adjusted EBITDA of $2.3M (up from prior $6K) beat an expected -$0.24M.
- Conference call at 11 a.m. ET.
- Press Release
- Previously: Elephant Talk craters on filing of non-reliance (Apr. 02 2015)
- Previously: Elephant Talk lower after revenue miss, restated results (Mar. 31 2015)
Tue, May 12, 9:08 AM
Thu, Apr. 2, 9:53 AM
- Elephant Talk Communications (NYSEMKT:ETAK) depositary shares have crumbled, -46.8%, as the company's filed an 8-K saying it can't rely upon a number of past statements, and detailing its restatement.
- Material errors in revenue recognition are leading the company to restate financials from the first three quarters of fiscal 2014, the first three quarters of 2013, and the year ended Dec. 31, 2013.
- Shares slipped Tuesday after the company missed expectations in Q4 revenues.
Tue, Mar. 31, 9:52 AM
- Elephant Talk (NYSEMKT:ETAK) is off 8.5% after its Q4 revenue missed expectations and it started restating past results to reflect a new business model.
- With the company finishing a transition away from its legacy landline business to mobile/security, it's restated past results, and recognizing revenue from the past couple of years over a longer time frame ("a number of years").
- The restatement means that Q4 revenue of $5.5M (-8.8% Y/Y) was up sequentially from $4.4M, and deferred revenue at year's end was $11.2M compared with the prior year's $2.6M.
- Net cash used in operations up to -$2.1M from prior year's -$6M.
- The company noted that its Iusacell contract isn't likely to continue due to Iusacell's new owner AT&T's preference for existing legacy vendors.
- Conference call at 11 a.m. ET.
- Press release
Tue, Mar. 31, 9:29 AM
Tue, Mar. 17, 5:40 PM
- Very heavy volume today drove Elephant Talk (NYSEMKT:ETAK) down 6.8% to make a new 52-week low before shares gained back a couple of cents, following an SEC filing that the firm would be submitting a late 10-K.
- Nearly 736K shares traded hands today compared with average volume of about 218K.
- The company plans to host its year-end call on March 31 at 11 a.m. ET.
- The stock has lost more than 50% of its value in 2015, with a 19.6% decline coming just over the past week.
Thu, Jan. 29, 6:44 PM
- In an SEC filing, Elephant Talk (NYSEMKT:ETAK) notes the resignation of Floris van den Broek as VP of Mobile Platform Activities, and names two co-presidents to the role: current CTO Martin Zuurbier and Armin Hessler.
- Zuurbier gives up his other role as COO; Hessler joins the firm from Vodafone's (NASDAQ:VOD) data-center unit.
- The moves are effective April 1.
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Elephant Talk Communications Corp provides one stop solution for mobile, fixed and convergent telecommunications software services. Through its subsidiary it also provides layered security services for critical applications in the cloud.
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