On Track Innovations Ltd. (OTI) (NASDAQ:OTIV) moved up with change of 3.36% to $1.23 with the recent volume of 493506 shares versus to an average volume of 235.86K. The stock was up in the 5 days activity 13.33%. The one month performance of stock was 23.57%. OTIV shares are at 11.21% for the quarter and driving a -11.85% return over the course of the past year and is now at -12.50% since this point in 2018.
Right now OTIV beta is 1.38. The average volatility for the week and month was at 6.35% 5.33% respectively.
On Track Innovations Ltd. (OTI) (NASDAQ:OTIV), a global provider of near field communication (NFC) and cashless payment solutions, has provided a business update and announced financial results for the first quarter ended March 31, 2018.
“The first quarter of 2018 was highlighted by our strong operational execution and growth across several of our business units,” said Shlomi Cohen, Chief Executive Officer of OTI. “This is evidenced by our first quarter revenue growth of 46% and second quarter in a row of positive adjusted EBITDA results as move towards profitability.
“Our continued penetration of public transit markets in Poland and cashless readers in several key global markets, such as Japan and North America, are very promising, while our growing recurring revenue base — which accounted for 24% of revenues in the first quarter — provides us with predictable, high-margin cash flow. In addition, we have several groundbreaking initiatives — such as our cryptocurrency payment solution for automated machines and the micropayment market — which to the best of our knowledge is the first and only of its kind available on the market today.
“As a thought leader in the cashless payment solutions arena, we are confident that our continued innovation and operational execution across all business units has put OTI in a position to continue gaining market share and generate significant value for its shareholders.”
Q1 2018 Financial Highlights
Total revenue in the first quarter of 2018 increased by 46% to $5.9 million, compared to $4.0 million in the same year-ago period. The increase was primarily driven by the retail and mass transit ticketing segment of the business, which grew revenues 65% to $4.5 million in Q1 2018, compared to $2.7 million in the same year-ago period.
Recurring revenues accounted for 24% of total revenues in Q1 2018, compared to 20% of total revenues in the prior quarter.
Gross profit increased to $3.1 million (53% of revenues), a 40% increase over $2.2 million (55% of revenues) in the same year-ago period.
Operating expenses totaled $3.4 million in the first quarter, compared to $2.9 million in the same year-ago period.
Net loss in Q1 2018 totaled $333,000, or $(0.01) per share, compared to a net loss of $865,000 or $(0.02) per share in the same year-ago period.
Positive adjusted EBITDA totaled $114,000 in Q1 2018, compared with an adjusted EBITDA loss of $309,000 in the same year-ago period.
Cash and cash equivalents at March 31, 2018 totaled $10.5 million, compared to $10.1 million at December 31, 2017.
Positive net cash provided by continuing operation activities totaled $0.9 million in Q1 2018, compared to negative net cash used by totaled $0.7 million in the same year-ago period.
Shares of On Track Innovations Ltd. have been recently spotted trading -58.16% off of the 52-week high price. On the other end, company shares have been noted 32.89% away from the low price over the last 52-weeks. 52 week range of the stock remained $ 0.93 – 2.94. Switching over to some distances from popular moving averages, we see that the stock has been recorded 15.37% away from the 50 day moving average and 0.82% away from the 200 day moving average. Moving closer, we can see that shares have been trading 15.11% off of the 20-day moving average.
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