Be the first to hear about it: I.D. Systems, Inc.’s (NASDAQ:IDSY)

On Friday 23 August 2k19, I.D. Systems, Inc.’s (NASDAQ:IDSY) stock showed the loss of -1.12% in recent trading period with closing price of $5.28. The shares of IDSY at the moment are trading at a volume of 2,522 Shares, which compares with its normal daily standard volume of 35,774 shares. The stock has been behind -27.07% by $7.24 ever since it reached its 52-week low of 10.92%.

I.D. Systems, Inc. (IDSY) stated results for the second quarter ended June 30, 2k19.

2nd quarter 2k19 Financial Results
Revenue increased 20% to a record $16.3M from $13.6M in the previous quarter and increased 10% from $14.8M in same year-before period.

Product revenue was $10.6M contrast to $10.8M in same year-before period. The decrease in product revenue was Because of the timing of unit and program deliveries with Avis, which will vary from year-to-year.

Services revenue was $5.6M contrast to $4.0M in same year-before period. The increase in services revenue was Because of increased high-margin recurring revenue and additional development services revenue related to the 75,000-unit order from Avis.

Recurring revenue increased 10% to $5.4M from $5.0M in the same year-before period. The company expects growth in recurring revenue to continue as every unit sold comes with a long-term recurring revenue contract.

Gross profit increased 10% to $7.1M (43.4% of total revenue) from $6.4M (43.3% of total revenue) in the same year-before period. The increase in gross profit was primarily Because of a raise in high-margin recurring revenue.

Selling, general and administrative expenses were $6.0M, contrast to $5.8M in the same year-before period. The increase in selling, general and administrative expenses was primarily Because of the inclusion of expenses from CarrierWeb U.S., which were absent in the same period a year ago.

Research and development expenses were $2.0M, contrast to $1.5M in the same year-before period. The increase in research and development expenses was Because of development work on 2k19 Avis accepted programs and additional development discovered during LV-series field trials, as well as the inclusion of R&D expenses from CarrierWeb U.S., which were absent in the same period a year ago.

Acquisition-related expenses were $1.6M, contrast to $149,000 in the same year-before period. The increase was primarily Because of the acquisition-related expenses related to the pending acquisition of Pointer Telocation (reported on March 13, 2k19).

Net loss totaled $2.6M or $(0.15) per basic and diluted share (based on 17.7M weighted average shares outstanding), contrast to net loss of $1.1M or $(0.07) per basic and diluted share in the same year-before period (based on 17.1M weighted average shares outstanding).

Adjusted EBITDA, a non-GAAP metric, totaled $129,000 or $0.01 per basic and diluted share (based on 17.7M weighted average shares outstanding), contrast to adjusted EBITDA of $290,000 or $0.02 per basic and diluted share (based on 17.1M weighted average shares outstanding) in the same year-before period (See the section below titled “Non-GAAP Financial Measures” for more information about adjusted EBITDA and its reconciliation to GAAP net income/loss).

Looking at the (IDSY) Technical analysis information over the past 50 days shows that its average stood at dropped -8.77%. This figure is worse than the company’s 20-day average which currently stands at -9.40% from 200 Days Simple Moving Average of -9.61%.

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