Issuer Direct was founded in 2006 and is headquartered in Morrisville, US

Issuer Direct has offices in Morrisville, Richmond, Croydon and Stockholm

Morrisville, US (HQ)

500 Perimeter Park Dr

Stockholm, SE

7A Strandvägen

Croydon, GB

Lansdowne Rd The Mews

Richmond, US

295 9011 Arboretum Pkwy

Issuer Direct's revenue was reported to be $2.9 m in Q1, 2017

USD

## Revenue (Q1, 2017) | 2.9 m |

## Gross profit (Q1, 2017) | 2.1 m |

## Gross profit margin (Q1, 2017), % | 74% |

## Net income (Q1, 2017) | 324.9 k |

## EBIT (Q1, 2017) | 374.8 k |

## Market capitalization (22-Aug-2017) | 37.8 m |

## Cash (31-Mar-2017) | 5.6 m |

Issuer Direct's current market capitalization is $37.8 m.

USD | FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|---|

## Revenue | 8.8 m | 13.6 m | 11.6 m | 12.1 m |

## Revenue growth, % | 54% | (15%) | 4% | |

## Cost of goods sold | 3.4 m | 3 m | ||

## Gross profit | 8.2 m | 9 m | ||

## Gross profit Margin, % | 70% | 75% | ||

## EBIT | 1.7 m | 1.5 m | 634.2 k | 1.9 m |

## EBIT margin, % | 19% | 11% | 5% | 16% |

## Interest income | 4.1 k | |||

## Pre tax profit | 2 m | |||

## Net Income | 628.6 k | 42.1 k | 144.6 k | 1.6 m |

USD | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} | Q1, 2017^{} |
---|---|---|---|---|---|---|---|---|---|

## Revenue | 3.6 m | 3.2 m | 3 m | 3.1 m | 2.8 m | 3.3 m | 3.1 m | 2.9 m | 2.9 m |

## Cost of goods sold | 1.1 m | 994.8 k | 912.9 k | 899.5 k | 843 k | 770.1 k | 823.7 k | 739.4 k | 746.1 k |

## Gross profit | 2.6 m | 2.2 m | 2.1 m | 2.2 m | 1.9 m | 2.5 m | 2.3 m | 2.1 m | 2.1 m |

## Gross profit Margin, % | 71% | 69% | 70% | 71% | 70% | 77% | 74% | 74% | 74% |

## Sales and marketing expense | 905.4 k | 571.2 k | 566.1 k | 644.6 k | 519.8 k | 624 k | 671.7 k | 651.6 k | 593.7 k |

## R&D expense | 98.6 k | 94.5 k | 63.3 k | 69.2 k | 89.7 k | 132.6 k | 124.9 k | ||

## General and administrative expense | 1 m | 900.1 k | 879.8 k | 907.3 k | 759.8 k | 842.2 k | 800.1 k | 839.4 k | 911 k |

## Operating expense total | 1.9 m | 1.5 m | 1.5 m | 1.6 m | 1.3 m | 1.5 m | 1.6 m | 1.6 m | 1.6 m |

## EBIT | 318.1 k | 297.1 k | 332.4 k | 690.2 k | 466.3 k | 294.3 k | 374.8 k | ||

## EBIT margin, % | 10% | 10% | 12% | 21% | 15% | 10% | 13% | ||

## Interest expense | 360.7 k | 368.2 k | 244.9 k | 241 k | 137.2 k | 992 | 965 | 1 k | |

## Interest income | 360.7 k | 241 k | 137.2 k | 992 | 965 | 1 k | |||

## Pre tax profit | 18.4 k | 119.2 k | 73.2 k | 56.1 k | 195.2 k | 691.2 k | 549.4 k | 287.9 k | 365.5 k |

## Income tax expense | 49.6 k | 43 k | 163.4 k | 9 k | (58.5 k) | (197.9 k) | (192.7 k) | (93 k) | 40.6 k |

## Net Income | 31.1 k | 107.3 k | 236.7 k | 301.7 k | 438.4 k | 493.3 k | 849.9 k | 1 m | 324.9 k |

USD | FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|---|

## Cash | 1.7 m | 1.7 m | 4.2 m | 5.3 m |

## Accounts Receivable | 2 m | 2 m | 1.3 m | 1.3 m |

## Current Assets | 3.9 m | 4.1 m | 5.7 m | 6.8 m |

## Goodwill | 1.1 m | 2.2 m | 2.2 m | 2.2 m |

## Total Assets | 9.3 m | 10.2 m | 11.2 m | 12.9 m |

## Accounts Payable | 267.6 k | 255.6 k | 385.3 k | 343.4 k |

## Current Liabilities | 2.9 m | 3.5 m | 2.4 m | 2.1 m |

## Total Liabilities | 2.3 m | |||

## Additional Paid-in Capital | 4 m | 5.7 m | 8.2 m | 9.1 m |

## Retained Earnings | 285.1 k | 327.3 k | 388.7 k | 1.5 m |

## Total Equity | 4.2 m | 6 m | 8.6 m | 10.6 m |

## Financial Leverage | 2.2 x | 1.7 x | 1.3 x | 1.2 x |

USD | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} | Q1, 2017^{} |
---|---|---|---|---|---|---|---|---|---|

## Cash | 2.2 m | 3.5 m | 2.8 m | 3.4 m | 3.7 m | 4.3 m | 5 m | 5.1 m | 5.6 m |

## Accounts Receivable | 1.5 m | 1.5 m | 1.3 m | 1.3 m | 1.3 m | ||||

## Current Assets | 5.1 m | 6 m | 4.9 m | 5.5 m | 5.8 m | 6 m | 6.7 m | 6.8 m | 7.2 m |

## Goodwill | 1.1 m | 1.1 m | 2.2 m | 2.2 m | 2.2 m | 2.2 m | 2.2 m | 2.2 m | 2.2 m |

## Total Assets | 10 m | 10.6 m | 10.8 m | 11.4 m | 11.8 m | 11.6 m | 12.2 m | 12.5 m | 13.4 m |

## Accounts Payable | 409.4 k | 413.3 k | 384 k | 344.5 k | 377.3 k | 553.7 k | 298.3 k | 288.5 k | 311.9 k |

## Current Liabilities | 2.4 m | 4 m | 3.8 m | 4.2 m | 2.3 m | 2.1 m | 2.1 m | 2.1 m | 2.2 m |

## Additional Paid-in Capital | 4.4 m | 4.6 m | 5.9 m | 6.1 m | 8 m | 8.4 m | 8.7 m | 8.9 m | 9.4 m |

## Retained Earnings | 316.2 k | 392.4 k | 563.9 k | 629 k | 765.7 k | 798.5 k | 1.1 m | 1.1 m | 1.7 m |

## Total Equity | 4.7 m | 4.9 m | 6.4 m | 6.7 m | 8.8 m | 9.2 m | 9.8 m | 10 m | 11 m |

## Financial Leverage | 2.1 x | 2.2 x | 1.7 x | 1.7 x | 1.3 x | 1.3 x | 1.3 x | 1.2 x | 1.2 x |

USD | FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|---|

## Net Income | 628.6 k | 42.1 k | 144.6 k | 1.6 m |

## Depreciation and Amortization | 494.2 k | 1.2 m | 1.1 m | 909.4 k |

## Accounts Receivable | (212.6 k) | (343.7 k) | 586.5 k | (259.1 k) |

## Accounts Payable | (89.3 k) | (8.9 k) | 132.2 k | (38.6 k) |

## Cash From Operating Activities | 1.4 m | 1.5 m | 3.2 m | 2.8 m |

## Purchases of PP&E | (109.5 k) | (112.2 k) | ||

## Cash From Investing Activities | (3.2 m) | (1.8 m) | (663.2 k) | (1.2 m) |

## Cash From Financing Activities | 2.4 m | 341 k | (16.8 k) | (417.7 k) |

## Interest Paid | 77 k | 167.7 k | 85.9 k | |

## Income Taxes Paid | 699.5 k | 862.8 k | 283 k | 715.6 k |

USD | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} | Q1, 2017^{} |
---|---|---|---|---|---|---|---|---|---|

## Net Income | 31.1 k | 107.3 k | 236.7 k | 301.7 k | 438.4 k | 493.3 k | 849.9 k | 1 m | 324.9 k |

## Depreciation and Amortization | 563 k | 829.6 k | 268.3 k | 531.7 k | 800.5 k | 306.9 k | 636.8 k | 899.9 k | 164.9 k |

## Accounts Receivable | (752.9 k) | 8.7 k | 292.4 k | 366.2 k | 421.4 k | (257.6 k) | (132.5 k) | (273.6 k) | (47.2 k) |

## Accounts Payable | 137.5 k | 146.1 k | 130.1 k | 85.9 k | 122.5 k | 167.6 k | (80.4 k) | (94.9 k) | (31.7 k) |

## Cash From Operating Activities | 267.1 k | 1.6 m | 1.1 m | 1.9 m | 2.3 m | 501.3 k | 1.5 m | 2 m | 646.8 k |

## Purchases of PP&E | (47 k) | (63.8 k) | (22.3 k) | (228 k) | (382.7 k) | (30.6 k) | (44.6 k) | (58.7 k) | (2.5 k) |

## Cash From Investing Activities | (47 k) | (63.8 k) | (22.3 k) | (228 k) | (382.7 k) | (378 k) | (563 k) | (809.7 k) | (292.5 k) |

## Cash From Financing Activities | 228.8 k | 277.7 k | 23.2 k | 39.8 k | (76.5 k) | (135 k) | (276.4 k) | (118.5 k) | |

## Interest Paid | 100 k | 150 k | 19.9 k | 66.7 k | 85.9 k | ||||

## Income Taxes Paid | 556.6 k | 641.6 k | 34.5 k | 34.5 k | 265.9 k | 120.3 k | 262.6 k | 434.6 k | 37.3 k |

USD | Y, 2017 |
---|---|

## Revenue/Employee | 51.9 k |

## Financial Leverage | 1.2 x |