Wednesday, November 17, 2021
TAAL Distributed Information Technologies (TAALF)
Strong 3Q21; Raising PT
Taal Distributed Information Technologies Inc delivers value-added blockchain services, providing professional-grade, highly scalable blockchain infrastructure and transactional platforms to support businesses building solutions and applications upon the Bitcoin SV platform, and developing, operating, and managing distributed computing systems for enterprise users.
Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
3Q21 Results. TAAL had previously pre-announced 3Q revenue in the $11.5-$12.0 million (CAD) range. Actual revenue came in at $12.4 million, with income before value adjustments of $8.0 million, adjusted EBITDA of $3.9 million, and net income of $2.1 million, or $0.05 per share. We had projected revenue of $8 million, income before value adjustments of $4.8 million, and a net loss of $725,000, or $0.02 per share.
Transactions. TAAL processed over 52 million transactions on BSV in the quarter, earning $411,000 from transaction processing fees in the quarter, or 3% of total revenue. While mining continues to be the near-term revenue driver, we expect transaction fees to be the long-term value driver of the stock …
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
