Research Desk Line-up: Autodesk Post Earnings Coverage

LONDON, UK / ACCESSWIRE / September 12, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on USA Technologies, Inc. (NASDAQ: USAT), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=USAT, following the Company's reporting of its fourth quarter and fiscal 2017 financial results on August 22, 2017. The electronic payment and wireless networking Company outperformed top- and bottom-line expectations. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Technical & System Software industry. Pro-TD has currently selected Autodesk, Inc. (NASDAQ: ADSK) for due-diligence and potential coverage as the Company reported on August 24, 2017, its financial results for Q2 FY18. Register for a free membership today, and be among the early birds that get access to our report on Autodesk when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on USAT; also brushing on ADSK. With the links below you can directly download the report of your stock of interest-free of charge at:

http://protraderdaily.com/optin/?symbol=USAT
http://protraderdaily.com/optin/?symbol=ADSK

Earnings Reviewed

For its fourth quarter ended June 30, 2017, USA Technologies (NASDAQ: USAT) achieved record quarterly revenue of $34.29 million, up 56% compared to revenue of $21.94 million in Q4 FY16, marking its 31st quarter of consecutive quarter. The Company's revenue numbers exceeded analysts' expectations of $33.29. For FY17, USA Technologies achieved record total revenue of $104.1 million, up 35% on a y-o-y basis

For Q4 FY17, USA Technologies reported gross margin of 21.9% compared to gross margin of 26.4% for Q4 FY16. The Company's recorded operating income of $432,000 compared to an operating loss of $1.6 million in Q4 FY16. USA Technologies had recorded quarterly adjusted EBITDA of $2.8 million; a y-o-y increase of 344%. For FY17, the Company's adjusted EBITDA was $7.1 million, reflecting a y-o-y growth of 18%.

During Q4 FY17, USA Technologies posted GAAP net income of $0.2 million, or $0.01 per share, compared to a net loss of $872,000, or $0.02 per share, for Q4 FY16. The Company reported non-GAAP net income of $0.2 million, or $0.01 per share, compared to non-GAAP net loss of $1.4 million, or $0.04 per share, for the prior year's comparable period. USA Technologies' earnings met Wall Street's expectations of $0.01 per share.

For FY17, USA Technologies' net loss was $1.9 million, or $0.06 per share, compared to a net loss of $6.8 million, or $0.21 per share, for FY16. The Company's non-GAAP net loss was $0.2 million, or $0.02 per share, compared to non-GAAP net loss of $0.7 million, of $(0.04) per share for the prior year's same period

Key Metrics

For Q4 FY17, USA Technologies' posted record net connections of 64,000, reflecting y-o-y increase of 129%. The Company also notched quarterly record license and transaction fee revenue of $18.7 million; a y-o-y growth of 22%. USA Technologies' had record 568,000 net connections to ePort service as of June 30, 2017, which represented a y-o-y increase of 32%.

For FY17, USA Technologies' posted record net connections of 139,000, reflecting y-o-y growth of 45%. The Company achieved a record 12,700 total customers; a y-o-y increase of 15%

Cash Matters

USA Technologies' ended Q4 FY17 with $12.7 million in cash, which excluded $11.0 million of short-term finance receivables. The Company's net working capital decreased $3 million from last quarter to $5.8 million, primarily due to the timing of funding of the Company's finance receivables. USA Technologies' cash balance, which was reported at $12.7 million at the end of the quarter, would have been approximately $20 million if adjusted for the timing of funding.

Outlook

For the full fiscal year 2018, USA Technologies (NASDAQ: USAT) expects to add between 170,000 and 175,000 net new connections, bringing total connections to a range of 738,000 to 743,000. The Company expects total revenue to be in the band of $122 million and $127 million and adjusted EBITDA to grow 35% to 50% on a y-o-y basis to a range of $9.6 million to $10.6 million.

Stock Performance

On Monday, September 11, 2017, the stock closed the trading session at $5.35, climbing 1.90% from its previous closing price of $5.25. A total volume of 299.71 thousand shares have exchanged hands. USA Technologies' (NASDAQ: USAT) stock price soared 0.94% in the last three months, 33.75% in the past six months, and 10.54% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have surged 24.42%. At Monday's closing price, the stock's net capitalization stands at $277.77 million.

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SOURCE: Pro-Trader Daily