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Monday, September 20, 2021

ServiceSource Inc. (SREV) stock rises in the after-hour trading. Why is it so?

ServiceSource Inc. (NASDAQ: SREV) stock declined by 3.45% at the last trading close whereas the SREV stock gains by 8.57% in the after-hours trading. This change in SREV stock price is not followed by any recent news. ServiceSource International is a multinational outsourced go-to-market services company that helps companies transform their B2B digital sales and customer success strategies. Our skilled salespeople, data-driven knowledge, and tried-and-true methodologies help businesses scale and reimagine customer journeys that result in profitable business outcomes.


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Recent Past Developments

Service Source’s executives have recently participated in two investors conference. Given below are the details:

  • SREV, on March 16 2021 has participated in the Virtual 33rd Annual Roth Conference.
  • And on March 25, 2021, SREV was a part of Sidoti & Company, LLC Spring 2021 Virtual Conference.

Financial Results

On February 25, 2021, SREV announced its fourth quarter and full-year 2020 financial results. Given below is the summary:

  • The GAAP revenue generated for the fourth quarter 2020 was $51.1 million compared to $54.9 million for the fourth quarter 2019. While the GAAP revenue for the full year 2020 was $194.6 million compared to $216.1 million for the full year 2019.
  • SREV calculated its GAAP net loss as $1.7 million for the fourth quarter 2020 whereas for the fourth quarter 2019 the GAAP net loss was $2.5 million. The GAAP net loss for the full year 2020 was $18.5 million compared to net loss of $18.7 million for the full year 2019.
  • The Non-GAAP net income was $2.3 million for the fourth quarter 2020 relative to $0.6 million for the fourth quarter 2019. While the Non-GAAP net loss was $2.3 million for the full year 2020 compared to $3.3 million for the full year 2019.
  • The Adjusted EBTIDA, a non-GAAP financial measure was $4.8 million compared to $2.7 million recorded for Q4 2019. For the full year 2020 the values were $4.3 million compared with $4.2 million for the full year 2019.
  • SREV ended the year with $36.3 million in cash, cash equivalents, and restricted cash, plus $15.0 million borrowed under the Company’s $40.0 million revolving credit facility.

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