Net Element, Inc. is a global technology-driven group specializing in mobile payments and value-added transactional services in emerging countries and in the United States. The Company owns and operates global mobile payments and transaction processing provider, TOT Group. TOT Group companies include Unified Payments, Aptito, a next generation cloud-based point of sale payments platform, and TOT Money. Together with its subsidiaries, Net Element enables e-commerce and adds value to mobile commerce environments. Its global development centers and high-level business relationships in the United States, Russia and Commonwealth of Independent States strategically position the Company for continued growth.

TypePublic
HQNorth Miami Beach, US
Founded2004
Size (employees)140 (est)
Websitenetelement.com
Net Element was founded in 2004 and is headquartered in North Miami Beach, US
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Key People/Management at Net Element

Oleg Firer

Oleg Firer

Chief Executive Officer and Director
Jonathan New

Jonathan New

CFO
Steven Wolberg

Steven Wolberg

Chief Legal Officer and Secretary
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Net Element Office Locations

Net Element has offices in North Miami Beach and Moscow
North Miami Beach, (HQ)
3363 NE 163rd Street
Moscow,
Moscow City, Complex "Federation Tower"
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Net Element Financials and Metrics

Net Element Revenue

Net Element's revenue was reported to be $60.06 m in FY, 2017
USD

Revenue (Q3, 2018)

17.2m

Net income (Q3, 2018)

(936.1k)

EBIT (Q3, 2018)

(761.6k)

Market capitalization (4-Dec-2018)

34.1m

Closing stock price (4-Dec-2018)

8.8

Cash (30-Sep-2018)

2.6m

EV

32.5m
Net Element's current market capitalization is $34.1 m.
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

18.7m21.2m40.2m54.3m60.1m

Revenue growth, %

13%90%35%

Cost of goods sold

13.4m15.9m

Gross profit

5.4m5.3m
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Revenue

6.5m4.8m4.9m6.0m5.5m6.9m12.7m11.3m13.7m14.0m13.6m16.1m14.9m16.0m16.5m17.2m

Cost of goods sold

4.6m3.5m3.3m4.7m4.6m5.5m10.7m

Gross profit

1.9m1.3m1.6m1.3m926.1k1.4m2.0m

Gross profit Margin, %

29%27%32%22%17%21%16%
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

126.3k503.3k1.0m621.6k11.3m

Accounts Receivable

10.6m5.2m7.1m5.5m

Inventories

23.6m803.2k

Current Assets

12.7m4.9m
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Cash

3.9m777.0k1.3m1.4m766.3k675.2k315.7k724.5k633.6k1.4m813.1k1.3m922.1k9.2m6.5m2.6m

Accounts Receivable

9.7m6.5m4.4m4.0m3.3m3.5m4.5m4.4m5.8m5.9m6.7m6.0m4.4m5.1m6.1m5.0m

Current Assets

15.1m9.0m6.5m6.4m

PP&E

162.9k115.0k63.2k44.8k137.6k200.9k151.2k142.4k128.5k113.9k103.2k64.4k51.2k43.2k
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

(48.3m)(10.2m)(13.3m)(13.6m)

Depreciation and Amortization

2.2m2.4m2.5m3.5m2.5m

Accounts Payable

2.3m3.2m3.8m(2.9m)

Cash From Operating Activities

(10.8m)(1.7m)(3.3m)(5.0m)
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Net Income

(27.3m)(3.6m)(2.2m)(11.3m)(2.2m)(4.0m)(8.5m)(1.8m)(7.2m)(10.7m)(2.5m)(5.8m)

Depreciation and Amortization

1.4m591.7k1.2m1.9m438.8k1.1m1.9m888.1k1.7m2.5m657.4k1.2mwdxefcqufszuzezftuxetqsqxt1.9m703.5k1.4m1.8m

Accounts Payable

1.5m(252.4k)(552.4k)(311.0k)3.4m507.7k1.7m(865.2k)221.0k4.2m449.3k(1.8m)(2.4m)(545.3k)(2.1m)(2.1m)

Cash From Operating Activities

(6.4m)738.9k3.4m3.0m(2.5m)(3.5m)(947.0k)(1.5m)(1.1m)(956.2k)(2.7m)(2.6m)(1.1m)(2.9m)(3.3m)
USDY, 2018

EV/EBIT

-42.7 x

EV/CFO

-9.9 x

Financial Leverage

2.5 x
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Net Element Online and Social Media Presence

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Net Element News and Updates

Net Element Launches Netevia Light POS on Android-Based Smart Payment Terminals

Netevia Light POS Application is now Available on PAX Technology Smart TerminalsMiami, FL - (NewMediaWire) - December 11, 2018 - Net Element, Inc. (NASDAQ: NETE) (“Net Element” or the “Company”), a global technology and value-added solutions group that supports electronic payments acceptance in…

Net Element Wins Two Categories at ACQ5 Global Awards 2018, CEO Named "Gamechanger of the Year"

Company Wins Awards for US- Payment Solutions Provider of the Year and US-Scale-up Company of the Year Miami, FL - (NewMediaWire) - December 03, 2018 - Net Element, Inc. (NASDAQ: NETE) (“Net Element” or the “Company”), a global technology and value-added solutions group that supports electronic pa…

Net Element Ranked as One of The Fastest Growing Companies in North America on Deloitte's 2018 Technology Fast 500(TM)

Company makes the list for second consecutive year, recognized for significant revenue growth  Miami, FL - (NewMediaWire) - November 16, 2018 - Net Element, Inc. (NASDAQ: NETE) (“Net Element” or the “Company”), a global technology and value-added solutions group that supports electronic payments a…

Net Element Reports Third Quarter 2018 Financial Results and Provides Business Update

Net revenues increased 19% for the quarter as compared to the prior year, loss per share narrows significantly over the same period last year

Net Element Launches Aptito on the Worlds First Smart Payment Terminal

Miami, FL - (NewMediaWire) - November 06, 2018 - Net Element, Inc. (NASDAQ: NETE) (“Net Element” or the “Company”), a global technology and value-added solutions group that supports electronic payments acceptance in a multi-channel environment including point-of-sale (“POS”), e-commerce and mob…

Net Element to Joint Venture with Bank Sputnik in Launching New Payment Processing Center

Payment processing center to enable financial institutions and value-added providers to meet consumer demand for secure frictionless payment acceptance services Miami, FL - (NewMediaWire) - October 02, 2018 - Net Element, Inc. (NASDAQ: NETE) (“Net Element” or the “Company”), a global technology…
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Net Element Company Life and Culture

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Net Element Frequently Asked Questions

  • When was Net Element founded?

    Net Element was founded in 2004.

  • Who are Net Element key executives?

    Net Element's key executives are Oleg Firer, Jonathan New and Steven Wolberg.

  • How many employees does Net Element have?

    Net Element has 140 employees.

  • What is Net Element revenue?

    Latest Net Element annual revenue is $60.1 m.

  • What is Net Element revenue per employee?

    Latest Net Element revenue per employee is $429 k.

  • Who are Net Element competitors?

    Competitors of Net Element include PayFast, PayPal and Fattmerchant.

  • Where is Net Element headquarters?

    Net Element headquarters is located at 3363 NE 163rd Street, North Miami Beach.

  • Where are Net Element offices?

    Net Element has offices in North Miami Beach and Moscow.

  • How many offices does Net Element have?

    Net Element has 2 offices.