NEW YORK, May 21, 2018 (GLOBE NEWSWIRE) -- via NetworkWire - JGR Capital, an independent equity research firm, distributes an updated note on Net Element, Inc. (NASDAQ:NETE), a global technology and value-added solutions group that supports electronic payments acceptance in an omnichannel environment spanning across point-of-sale, e-commerce and mobile devices.
The full report can be found here: https://www.jgrcap.com/net-element/
Net Element is a financial technology company operating in the retail and e-commerce industry. On May 14, 2018, the company reported its 1Q financials and performances. Highlights from these financials include:
- Revenue for Q1 2018 increased through organic growth to ~$16 million, compared to $13.6 million in Q1 2017 (17.6% growth) and $15.5 million in Q4 2017 (3.1% growth).
- Net loss attributable to common shareholders decreased from
$1.51 per share for Q1 2017 to $0.42 per share for Q1 2018.
- GS&A expenses reduced by ~$385 thousand primarily due to decreases in salaries and benefits, professional fees and rent as planned by the management.
Key Report Highlights
- NETE 1Q18 EPS of -$0.40 beats by $0.03, revenue of $15.98 million (+17.8% increase YoY) beats by $1.78 million.
- Continuous organic growth in North American Transaction Solutions segment with management's goal of international market expansion.
- Focus on the development of blockchain-backed technology as well as partnerships in SMB.
Disclosures pertaining to this Net Element report can be found at www.jgrcap.com.
About Net Element
Net Element, Inc. (NASDAQ:NETE) operates a payments-as-a-service transactional and value-added services platform for small to medium enterprise ("SME") in the U.S. and selected emerging markets. In the U.S. it aims to grow transactional revenue by innovating SME productivity services using blockchain technology solutions and Aptito, its cloud-based, restaurant and retail point-of-sale solution. Internationally, Net Element's strategy is to leverage its omnichannel platform to deliver flexible offerings to emerging markets with diverse banking, regulatory and demographic conditions. Net Element was ranked as one of the fastest growing companies in North America on Deloitte's 2017 Technology Fast 500™. In 2017 the company was recognized by South Florida Business Journal as one of 2016's fastest growing technology companies. Further information is available at www.NetElement.com
About JGR Capital
JGR Capital is an independent equity research firm with a focus on small-cap and pre-IPO companies under $2 billion in
market cap. JGR Capital leverages a tech-forward approach to help these companies navigate the market by increasing visibility through equity research. With three locations worldwide, JGR Capital offers analyst coverage via a tech-forward, data-driven approach. Because our reports are based on facts, not recommendations, we are a reputable, trusted resource for investors. For more information, visit www.jgrcap.com
This press release may contain forward-looking statements, which involve risks and uncertainties. Actual results may differ significantly from such forward-looking statements. Factors that might cause such a difference include, but are not limited to, those discussed in the "Risk Factors" section in the SEC filings available in electronic format through SEC Edgar
filings at www.SEC.gov.
The research analysts principally responsible for this press release do not receive compensation that is based upon any specific investment banking services or recommendations and can be compensated based on factors relating to the overall profitability of the JGR Capital ("firm"). As of the date of research distribution, neither the firm nor the principal research analysts beneficially own 1% or more of any class of common equity securities for this issuer (including, without limitation, any option, right, warrant, future, long or short position).
The securities of the issuer(s) discussed in this press release may be unsuitable for investors depending on their specific investment objectives and financial position. Past performance is no guarantee of future results. This research does not constitute a
personal trading recommendation or take into account the particular investment objectives, financial situation or needs of an individual reader of this report, and does not provide all of the pertinent information to make an investment decision.
Corporate Communications Contact:
New York, New York
Source: Net Element, Inc.
News Provided by Acquire Media