SeaChange

Entertainment & Publishing Technology advertising application software television video technology

SeaChange International is a multinational company that provides multi-screen video products and services that facilitate the aggregation, licensing, management, and distribution of video programs and television advertisements to cable system operators, telecommunications companies, mobile communications providers and media companies worldwide.

The Company offers multi-screen television products, including Rave, an OTT platform; Adrenalin, a multi-screen television platform that enables service providers to manage, monetize, and deliver a seamless viewing experience to subscribers across televisions, personal computers, tablets, smartphones, and other IP-enabled devices; Nitro, subscriber experience software that gives service providers an interface that personalizes the multi-platform subscriber experience; and AssetFlow that is used to receive, manage, and publish content for on-demand viewing on televisions, tablets, PCs, and other consumer devices.

The Company also provides television advertising products, such as Infusion Advanced Advertising Platform that enables service providers to maximize advertising revenue across multi-screen, linear, on-demand, and over-the-top viewing; AdPulse, on-demand advertising software enabling service providers to capitalize on video-on-demand television services with ad placements; and AdFlow that enables advertisements to be ready for insertion and handles advertisement file processing, verification, transcoding operations, and confirms play-out for revenue booking. In addition, it provides Nucleus, video gateway software, as well as professional services, installation, training, project management, product maintenance, technical support, and software development related services.

Revenue(FY, 2017)

$83.8 M

Market capitalization(2018-04-20)

$110 M

Subscribers(Apr, 2017)

50 M

Type

Public

Acton, US

Founded

1993

Size (employees)

496 (est)

Website

schange.com

SeaChange was founded in 1993 and is headquartered in Acton, US

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Key People/Management at SeaChange

Ed Terino

COO

David McEvoy

General Counsel

Maria Duquette

SVP, Services & Support

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SeaChange Office Locations

SeaChange has offices in Singapore, Santa Monica, Acton, Istanbul and in 5 other locations

Acton, US (HQ)

50 Nagog Park

Santa Monica, US

2001 Wilshire Boulevard, Suite 330

Bangalore, IN

150 Old Airport Road Diamond District, Mateen Tower Kodihalli

Dundalk, IE

Vesta Building Finnabair Business Park

EINDHOVEN, NL

Flight Forum 3200 Building C

Warszawa, PL

8 aleja Jana Chrystiana Szucha

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SeaChange Financials and Metrics

SeaChange Financials

SeaChange's revenue was reported to be $83.80 m in FY, 2017 which is a 21.7% decrease from the previous period.

Summary

USD
Revenue (FY, 2017)	83.8 m
Revenue growth (FY, 2016 - FY, 2017), %	(21.7%)
Gross profit (FY, 2017)	42.2 m
Gross profit margin (FY, 2017), %	50.3%
Net income (FY, 2017)	(71.2 m)
EBIT (FY, 2017)	(54.1 m)
Market capitalization (20-Apr-2018)	110 m
Cash (31-Oct-2017)	27.2 m

SeaChange's current market capitalization is $110 m.

Source: SEC Filings

Income Statement

Annual

USD	FY, 2014	FY, 2015	FY, 2016	FY, 2017
Revenue	146.3 m	115.4 m	107 m	83.8 m
Revenue growth, %		(21%)	(7%)	(22%)
Cost of goods sold	67.1 m	58.3 m	60.2 m	41.6 m
Gross profit	79.2 m	57.1 m	46.8 m	42.2 m

Quarterly

USD	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017	Q3, 2017	Q1, 2018	Q2, 2018	Q3, 2018
Revenue	37.8 m	24.3 m	29.8 m	30 m	23.2 m	27.9 m	28.7 m	21.6 m	18.5 m	20 m	16.7 m	17.2 b	23.4 m
Cost of goods sold	16.9 m	13.4 m	14.5 m	15.2 m	13.1 m	13.4 m	21.9 m	12.4 m	11 m	10.1 m	6.8 m	5.8 b	7.1 m
Gross profit	20.9 m	10.9 m	15.4 m	14.8 m	10.1 m	14.4 m	6.9 m	9.1 m	7.5 m	9.8 m	9.9 m	11.4 b	16.4 m
Gross profit Margin, %	55%	45%	52%	49%	44%	52%	24%	42%	40%	49%	59%	66%	70%

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Source: SEC Filings

Balance Sheet

Annual

usd	Y, 2010	Y, 2011	Y, 2012	Y, 2013	FY, 2014	FY, 2015	FY, 2016	FY, 2017
Cash	37.6 m	73.1 m	80.6 m	106.7 m	115.7 m	90 m	58.7 m	28.3 m
Accounts Receivable								12.7 m
Inventories					6.6 m	3 m	3.8 m	2.4 m
Current Assets					169.1 m	136 m	102.8 m	69.4 m

Quarterly

USD	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017	Q3, 2017	Q1, 2018	Q2, 2018	Q3, 2018
Cash	114.1 m	103.3 m	96.6 m	94.6 m	73 m	60.6 m	58 m	51.5 m	38.7 m	27.5 m	26.8 m	25.3 m	27.2 m
Inventories	7.3 m	6.3 m	4.9 m	4.1 m	2.9 m	3.3 m	2 m	1.7 m	1.5 m	998 k	597 k	635 k	850 k
Current Assets	165.2 m	155.1 m	145.5 m	139.2 m	109.9 m	107.5 m	103.8 m	94.9 m	74 m	69.4 m	59.6 m	60.5 m	67.9 m
PP&E	18.9 m	17.3 m	17 m	16.5 m	15.3 m	15 m	14.7 m	13.5 m	13.1 m	12.1 m	11.2 m	10.6 m	10.1 m

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Cash Flow

Annual

usd	FY, 2014	FY, 2015	FY, 2016	FY, 2017
Net Income	(3 m)	(27.5 m)	(47.7 m)	(71.2 m)
Depreciation and Amortization	4.4 m	1.1 m	739 k	1.3 m
Inventories	(234 k)	3.2 m	(937 k)	806 k
Accounts Payable	(873 k)	(1.6 m)	874 k	(1.7 m)

Quarterly

USD	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017	Q3, 2017	Q1, 2018	Q2, 2018
Net Income	(1.6 m)	(9.5 m)	(15 m)	(6.3 m)	(9.8 m)	(14.9 m)	(25.4 m)	(8.9 m)	(35.8 m)	(43.9 m)	(5.4 m)	(6.9 m)
Depreciation and Amortization		995 k	1.9 m	2.8 m	181 k	192 k	184 k	316 k	316 k	315 k	254 k
Inventories	(859 k)	244 k	1.2 m	1.9 m	(148 k)	(732 k)	(1.2 m)	(91 k)	19 k	338 k	154 k	57 k
Accounts Payable	(1.6 m)	771 k	(1.1 m)	(1.2 m)	119 k	1.9 m	718 k	(1.7 m)	(1.6 m)	(2.1 m)	(1.7 m)	(2.6 m)