Kursverdoppelung bei Actua Corporation (vorm. Internet Capital)

 

zwischen Actua und Local.  

Bei den momentanen Kursen wären das ca. 2,5 Millionen Aktien, die man im Rahmen des momentanen Rückkaufprogramms noch zurückkaufen könnte.

Und von der vorhandenen Cash her ist das eh kein Problem.  

Liquidity and Capital Resources

As of June 30, 2017 , our principal source of liquidity was cash and cash equivalents totaling $68.9 million . Our cash and cash equivalents are comprised primarily of money market funds. We fund our operations with cash on hand, cash flow from operations, borrowings at certain of our businesses and proceeds from sales of businesses and other assets. We expect that these sources of liquidity will be sufficient to fund our cash requirements over the next 12 months. Bolt is expected to require additional borrowings to fund its operations for the foreseeable future; historically, Bolt's debt funding has come primarily from Actua.

http://icge.ir.edgar-online.com/efxapi/EFX_dll/...qUv&ID=12221208
 

Actua did not pay any interest during the three and six months ended June 30, 2017 and 2016.

http://icge.ir.edgar-online.com/efxapi/EFX_dll/...qUv&ID=12221208
 

https://www.ehs.com/wp-content/uploads/2016/12/...lSheet_11.09.16.pdf  

http://www.brinknews.com/...ng-to-win-win-in-insurtech-collaboration/  

Evolving Client Demands – As we mentioned above, today’s clients expect seamless onboarding experiences, which includes the ability to interact with their advisor or advisory firm any time, on any device and in any location. These empowered clients expect an onboarding experience that is personal, transparent and backed by seamless technology at every touchpoint. They don’t have the time or desire to complete physical paperwork—it needs to be quick and easy.

http://blog.ifsautomation.com/...h-management-onboardings...right-now
 

During the quarter BOLT signed a top 10 carriers for its BOLT premier product. We expect to go live September 1st.

While this engagement is starting the six-figure annual contract, the relationship has the potential to grow significantly over time. And as reminder BOLT premier is a new product that was launched in Q1 that allows a mid-sized as well as large carriers to easily onboard and utilize a light version of a software platform that is more plug and play.

While this progress is aimed at the mid-market, we are seeing large carriers choose this option as an easy entry point. This lower price point and faster implementation period results in significantly shorter sale cycles.

http://www.actua.com/wp-content/uploads/2017/08/...all-Transcript.pdf
 

positiven Dinge bei Actua suchen. Das verstellt den Blick auf die objektiven Schwächen. Es macht aus meiner Sicht auch keinen Sinn eine schwierige Situation gesundreden zu wollen. Bolt schafft es offensichtlich nicht wirklich seine Plattform ans Laufen bzw. an den Mann zu bringen. Libuda wiederhole nicht das verbissene Festhalten an einer Aktie. Das kann wieder schlimm enden.  

aber immerhin bewegt sich etwas:

Bolt's revenue grew approximately 18% from the corresponding six -month prior year period. During the six months ended June 30, 2017 , Bolt served approximately 2,100 independent commercial and personal property and casualty insurance agent customers, a number of large commercial and personal property and casualty insurance carrier-agency customers, seven customers who are non-traditional sellers of commercial and personal property and casualty insurance products and one state commercial and personal property and casualty insurance exchange customer

http://icge.ir.edgar-online.com/...p;filename=ACTUA_CORP_10Q_20170809
 

hat Bolt in den letzten Jahren auf Zukäufe verzichtet, denn ein Softwareanbieter im Insurtechbereich, kann - wenn er führend ist wie Bolt - durch Zukäufe meines Erachtens nichts hinzugewinnen, ich halte hier Investitionen in das eigene Angebot, wie es Bolt tut, für sinnvoller.  

wäre meines Erachtens eine Motivation - aber das müssen kann kleine wertvolle Spezialanbieter sein und keine Pleitebuden, bei denen die besten Kräfte längst abgewandert sind.  

During a recent advertising campaign, one client generated 3,000-4,000 quotes a day, but not by simply cranking up their advertising power or frequency. Instead, they supported the extended marketing campaign by digitizing the quote-to-issue lifecycle for 80% of desktop traffic and 100% of mobile users. Smart app capabilities and automation allowed consumers to enter minimal information and automatically generate rapid quotes. The experience is similar to Amazon’s product purchasing environment, where customers search a product, are immediately presented with options, and click to buy the items they want. This is the future of insurance, and by partnering with a leading InsurTech provider offering a SaaS-based digital distribution platform this insurer is providing the future today.

http://blog.boltinc.com/...blog/the-power-of-an-insurtech-partnership
 

und gute Software-Entwickler kosten offensichtlich viel Geld. Dann braucht man außerdem ein gutes Geschäftsmodell, wie z.B. eine Hypoport es hat. Den Verzicht auf Zukäufe bewerte ich so, dass das Management offensichtlich lieber in eigene Aktienoptionen und Boni investiert.  

NEW YORK, July 31, 2017 -- BOLT® Solutions, Inc. (www.boltinc.com), the leading digital distribution platform provider to the property and casualty (P&C) insurance industry, has been recognized as a winner in the 2017 ACQ5 Global Awards hosted by ACQ Magazine and the ACQ5 news portal, for its intimate knowledge and expertise in the insurance industry as well as its innovative contributions to InsurTech and the P&C insurance industry.

http://blog.boltinc.com/...ognized-as-a-2017-acq5-global-award-winner
 

The BOLT Platform integrates all of the key elements required to successfully sell insurance online: technology, markets, products, people, and process. BOLT helps insurers meet consumer demands through a powerful digital distribution system that seamlessly connects to back-office systems, integrates with traditional distribution channels, and offers access to a tightly integrated market network. This gives insurers the ability to bundle policies from the full market of offerings with their own products. It’s a one-stop shop for insurance as insurers quote, bind, and issue multiple products in one seamless transaction. With the BOLT Platform, insurers meet more of the needs of their customers more of the time, and as a result, enhance acquisition and retention rates, boost customer wallet-share, increase premiums and grow revenues.  

Marketing-Geschwafel nicht soviel Bedeutung beimessen. Wir kennen die Amis doch: Everything is big (and better) in Amerika.
Ich halte es daher lieber mit einer alten Börsenweisheit: Wichtig ist an der Kurstafel.
Lest doch mal die unzähligen positiven Posts von Libuda in einem anderen Thread (Local Corp) - und nun sind sie pleite.  

Present Value of NOL/Def tax: $ 46 Million (13% of the NOL as of 12/31/17)

https://seekingalpha.com/article/...rowing-saas-business-point-upside
 

http://www.investopedia.com/terms/n/netoperatingloss.asp

wenn 13% gleich 46 Millionen sind, heißt dqsm dass Actua mehr als 350 Millionen Gewinn vereinnahmen kann, ohne Ertragssteuern bezahlen zu müssen.

Dabei ist der Satz mit 13% sehr niedrig angenommen und liegt noch unter dem, was Trump versprochen hat.
 

 

in 2016 auch keine Steuern bezahlt werden und flossen in voller Höhe in die Kasse, aktienrückkäufe und Investitionen.

Net income attributable to Actua for the year ended December 31, 2016 was $70.1 million, or $1.91 per diluted share.

http://www.actua.com/wp-content/uploads/2017/03/...Release_FINAL_.pdf
 

One thing we often see is that companies are willing to adopt the BOLT Platform to advance their digital capabilities, but are hesitant to bundle products from the market network with their own. Why would they sell another insurer’s products is always the question we get, however, insurers that have done it will tell you that it might take an organizational mind shift, but in the end is worth it to sell 20,000 policies in a single quarter, watch revenues climb 24% over five years, and double year-over-year growth. These are just some of the results we’ve seen as insurers meet more of the needs of their customers, and it wouldn’t have been possible without an organization-wide commitment to change.

http://blog.boltinc.com/...e-things-when-partnering-with-an-insurtech
 

Actua expects annual GAAP cash flow
from operations in the range of between a use of $(2.0) million and a source of $2.0 million. Non-GAAP net
income (loss) per share is expected to be in the range of between $(0.10) and $(0.15) per diluted share for
2017, based on 32.5 million shares assumed diluted shares outstanding for 2017.

Quelle: Posting #9472  

Acuta hat im übrigen darauf verzichtet die 46 Millionen oder einen noch höheren Betrag als Asset auszuweisen, was das Eigenkapital um diese Beträge erhöht hätte.