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mCloud Technologies Corp. (MCLD.V)

TSXV - TSXV Real Time Price. Currency in CAD
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4.0500-0.0500 (-1.22%)
As of 12:08PM EDT. Market open.
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  • J
    Joseph
    Copied and pasted

    Alliance Global Partners analyst Brian Kinstlinger lowered the firm's price target on mCloud Technologies to C$5.50 from C$6.50 and keeps a Buy rating on the shares following the Q4 results. The quarter was "disappointing" as a new revenue recognition policy stopped the company from recognizing revenue on assets that are dormant, Kinstlinger tells investors in a research note. The analyst reduced estimates to reflect a slower ramp in Q1 as a result of restrictions in Alberta. (April 4th)

    - Maxim analyst Jack Vander Aarde lowered the firm's price target on mCloud Technologies to $6 from $9 but keeps a Buy rating on the shares. The company's Q4 results missed his estimates as pandemic-related restrictions, particularly in the U.S. and Alberta, continued to severely impact the pace of converting connected asset backlog into revenue, the analyst tells investors in a research note. Vander Aarde adds however that while he is dialing back his 2022 outlook on delayed connected asset deployments, he also remains confident in accelerating growth and maintains his 2023 revenue estimate of C$70M, up 84% y/y. (April 14th)

    A hedge fund recently bought a new stake in mCloud Technologies stock. CM Management LLC bought a new stake in shares of mCloud Technologies Corp during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 195,166 shares of the company’s stock, valued at approximately $956,000. CM Management LLC owned approximately 1.21% of mCloud Technologies at the end of the most recent quarter. (April 14th)
  • J
    Jake
    Direct from their latest published financials:

    "During the year ended December 31, 2020, the Company generated a net loss of $34,860,963 and negative cash flows from operating activities of $25,350,826. As at December 31, 2020, the Company has an accumulated deficit of $85,686,366 and a working capital deficiency of $13,052,702. As a result, the Company may not have sufficient capital to fund its current planned operations during the twelve-month period subsequent to December 31, 2020. The continuation of the Company as a going concern is dependent on its ability to achieve positive cash flow from operations, to obtain the necessary equity or debt financing to continue with expansion in the asset care market, and to ultimately attain and maintain profitable operations. These conditions indicate a material uncertainty that may cast significant doubt on the Company’s ability to continue as a going concern."

    There are more and more signs that mCloud will not be in operation in the near future. Even though their revenue has increase, (but much less than predicted) , their net income and cash flow have actually gotten much worse which will be a huge burden on the company to pay their ongoing operating costs and ever so in increasing financial borrowing costs.
  • J
    Jake
    You know Mcloud's financials are not good when they do not include any financial information in the quarterly investor presentation....which is where a financial summary should be included. Instead they mostly rehashed old news and data from previous investor presentations. Things must be worse than expected.
  • J
    Joseph
    Four days ago (May 27th, 2021) Jack Vander Aarde from Maxim Group reiterated a "BUY" rating with a price target of $5 (242% upside). His recommendations have generated a 110% return while being a tracked analyst on TD with a success rate of 74%, ranking 13th out of 7,533 tracked analysts... No fluff here just facts.

    I KNOW price targets are forward-looking and SHOULD NOT BE RELIED ON SOLEY (As analysts may be unknowledgeable, incentivized by recieving future underwriting fees, flat-out wrong, etc), but, this is some encouraging news for the people who've been holding and are long on this 10 bagger.
  • J
    Joseph
    3:1 rs inbound for November 24th. I think now it’ll have about 14M Common Shares Outstanding (Diluted would be about 20M).

    I wonder if more shares will be issues after the rs to institutional investors now that they are no longer on OTC.

    Keep in mind the $75M USD market cap requirement still needs to be met (I don’t know the exact price but it be around $6.50-$7.00 for them to be at a $75M USD market cap). A few more requirements may still need to be met, I’m not sure what they are, but, the minimum price listing requirement will be met with this rs.
  • J
    Jake
    Back in May of 2020, in their annual financial press release, Russ McMeekin projected revenues for 2020 to be between $70-$72 million. He was only out by about a factor of 3!!!!

    This was near the end of May of 2020 (almost half way through the fiscal year) and he did not have the knowledge or intelligence to know that mCloud's revenues would not even be close to the $70million range?

    I think this says a lot about the leadership at mCloud and how well they actually know their business or the industry they are in.
  • J
    Jake
    Wonder what mCloud will do after their latest and final debt financing tranche of $1.7 million runs out, which at the rate of their cash burn should be in less than month?

    How will they pay their staff and other operating expenses without additional external debt financing?
  • N
    NorthernTrader
    I am long MCLD, but I have to wonder why installing their product in just 2 Saudi restaurants warrants a press release...the day before earnings. I am nervous for tomorrow.
  • A
    Alan
    Is this an established company or a marketing startup? All Mcloud Press Released state the following… mCloud Technologies Corp. (Nasdaq: MCLD) (TSXV: MCLD), ("mCloud" or the "Company") a leading provider of AI-powered asset management and Environmental, Social, and Governance ("ESG") solutions. Leader of what? by what measure? Just stating it is not enough, it must be demonstrated. They keep stating potential, which means they have yet to accomplish anything. I think Mcloud can make it if they focus on a few products, services, and customers. Customer Success is the path to higher recurring revenues, increasing assets and credibility in the marketplace. BTW, their COO is gone from the leadership list! Another bad sign!
  • C
    Chris
    Growing revenue, narrowing losses, Nasdaq listing ... all this should move the price higher. Time will tell.
  • J
    Joseph
    Everything is a question mark now! I still firmly hold the belief that all of management's previous claims in regards to restrictions and backlog in past CC's are not a sham... I don't think ATB would be extending credit if all the claims were false or greatly exaggerated. August 2022 CC is when we'll have a clear understanding if restrictions really were the prime factor in lack of connections. There is the potential that Jake is in fact right when he spoke about how restrictions haven't played a factor for O/G sector during past 1-2 years. We'll see at the end of August when Q2 results are released if there is a material uptick in connections.

    I'll also add that I agree with some of the conversation on this forum in regards to certain PR's about partnerships without following up on them with outcomes created / results (FIDUS, three N/A Utilities, etc). These announcements mean nothing without follow ups. But by the same token I think many are very impatient and expect results unreasonably too quick. I remain patient and keep in mind this is a microcap out of Alberta so it'll take time to garner any serious media coverage.
  • W
    WallStPirate
    I hope you all have been adding sub 30. Recent interview with Chantal was good. They said early July for Autopro. Also Chantal key it slip another m&a. So more growth. I do like the debt mix with > 8 ebitda. News from Telus, China and additional asset care customers will be great. They said over 40k this year and they like to beat. But using 40k we will have approx 12 to 14 million in recurring revenue. That is the value of co alone now we get the rest of the co
  • M
    Mike
    Big Question is what a fair value will be for them on the Nasdaq. C3.AI is valued at 25x revenue. if we would do this with Mcloud we would be around 800-900 million based on a 35 million revenue this year.

    Lets see how this uplisting will impact the valuation of Mcloud.
  • S
    Sari
    sorry board, thought the news would spark rally, but it couldn't hold gains, I AM NOT happy, thought stock would hit $5 today and stay there. The upgrade was from ABT I believe an institution, so not from your day to day brokerage house, but good info and again $13 PT. Gotta keep grinding the Saudi's that is where the most growth will come from, not U.S. and not Canada, disappointed but growth is on the way, so stay patient and rewards will come.
  • M
    Mike
    Everybody who listened to the Q2 Conference call knew Q3 numbers would not be good. They are as i expected around 1000 assets connected. It is all waiting for the first connections in Saudi Arabia . Those deals can be BIG. For Alberta region i think we cannot expect allot the coming few quarters with Covid still flying around.

    Based on the 27 million est revenue i think it is fair to say the stock price is very undervalued for AI related company. lets see what happens the coming months.
  • J
    Jake
    Mcloud delays reporting their 2021 financials....financials must not be very good, again.

    The excuse used was "The Company requires additional time to address these developments in its report of earnings and the upcoming conference call." These developments, meaning an MOU with anther company and middle east financing. Both of which have not taken place yet and should have no effect on their historical 2021 financials.

    I suspect they are trying to find some good news, somewhere, to counter their likely dismal financials.
  • N
    NorthernTrader
    Partnering with Mercedes and leveraging the Saudi connections with Formula E is a smart way to advertise. I'm sure the sponsorship doesn't come free, but it should lead to bigger and better things. mCloud is not sitting still. They are growing fast and are still completely unknown to investors.
  • J
    Joseph
    From the press research this morning:

    “The US Department of Energy recently released a national roadmap to have every commercial building in the United States become grid-interactive through standards including OpenADR with the intent of tripling building energy efficiency using demand reduction by 2030.

    Conventional solutions for connecting buildings to the grid required extensive manual labour, meaning very few buildings have found such implementations attractive, hampering widespread adoption. mCloud uniquely addresses this problem through the use of AssetCare's AI and edge connectivity to the cloud, which dramatically simplifies and automates the deployment and ongoing response to grid signals for load management.“

    This is the kind of stuff you love to hear as an investor thinking of the macro picture… As I’ve mentioned before this companies rise to the NASDAQ will be a slow burn and those who are patient will be rewarded.
  • A
    Angus
    New investor here. Earning call today, any thoughts? Just want a quick scale
  • J
    Jake
    Not sure if others have noticed, but mCloud's org chart had been through some significant changes lately.

    There was an announcement recently for their new EVP and COO (Arnel Santos)..... but I am curious why 4 other company presidents (Dave Weinerth, President Advanced Visualized Solutions; Yan Zhao, president of greater China; Nitin Kapoor, President UK and EMEA and Patrick O'Neill, President North America) and a founder/board member Michael Sicuro seem to have all left mCloud?

    Does anyone know if they have left mCloud and if so, did they resign or were they let go. I know there was also a big announcement not long ago when Patrick O'Neill joined and that he was going to help mCloud expand into the North American market....not sure what has happened to have so many senior executives not be on the revised org chart. If they have all left the company? or was there an issue or concern with the top leadership, Russ McMeekin that they simply needed to move on?