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MODN Model N

Model N enables life sciences and high tech companies to drive growth and market share, minimizing revenue leakage throughout the revenue lifecycle. With deep industry expertise and solutions purpose-built for these industries, Model N delivers comprehensive visibility, insight and control over the complexities of commercial operations and compliance. Our integrated cloud solution is proven to automate pricing, incentive and contract decisions to scale business profitably and grow revenue. Model N is trusted across more than 120 countries by the world's leading pharmaceutical, medical technology, semiconductor, and high tech companies, including Johnson & Johnson, AstraZeneca, Stryker, Seagate Technology, Broadcom and Microchip Technology.

Company profile

Ticker
MODN
Exchange
Website
CEO
Zack Rinat
Employees
Incorporated
Location
Fiscal year end
Former names
MODEL N INC
SEC CIK
Subsidiaries
Model N India Software Private Limited • Model N (Switzerland) GmbH • Model N UK Limited • Sapphire Stripe Holdings, Inc. • Model N Canada Limited ...
IRS number
770528806

MODN stock data

(
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Calendar

9 Aug 21
26 Oct 21
30 Sep 22
Quarter (USD)
Jun 21 Mar 21 Dec 20 Sep 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Sep 20 Sep 19 Sep 18 Sep 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Model N earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 160.67M 160.67M 160.67M 160.67M 160.67M 160.67M
Cash burn (monthly) (positive/no burn) 2.64M 2.49M 2.18M (positive/no burn) (positive/no burn)
Cash used (since last report) n/a 10.25M 9.67M 8.46M n/a n/a
Cash remaining n/a 150.43M 151M 152.21M n/a n/a
Runway (months of cash) n/a 56.9 60.6 69.8 n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Oct 21 Anderson, Mark, Albert Common Stock Sell Dispose S No Yes 33.85 5,208 176.29K 143,377
27 Aug 21 Henricks Alan S. Common Stock Sell Dispose S No No 35 1,000 35K 42,665
27 Aug 21 Henricks Alan S. Common Stock Sell Dispose S No No 34.5 1,337 46.13K 43,665
26 Aug 21 Henricks Alan S. Common Stock Sell Dispose S No No 34 1,000 34K 45,002
26 Aug 21 Henricks Alan S. Common Stock Sell Dispose S No No 33.5 1,000 33.5K 46,002
24 Aug 21 Henricks Alan S. Common Stock Sell Dispose S No No 33.1 3,337 110.45K 47,002
19 Aug 21 DeCarlis Kimberly Common Stock Sell Dispose S No No 32.18 1,000 32.18K 7,501
19 Aug 21 Selig Laura Common Stock Grant Acquire A No No 27.42 226 6.2K 50,083

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

97.7% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 148 155 -4.5%
Opened positions 21 19 +10.5%
Closed positions 28 28
Increased positions 50 60 -16.7%
Reduced positions 58 56 +3.6%
13F shares
Current Prev Q Change
Total value 1.2B 2.76B -56.4%
Total shares 34.95M 35.12M -0.5%
Total puts 169K 73.5K +129.9%
Total calls 78.7K 191.6K -58.9%
Total put/call ratio 2.1 0.4 +459.8%
Largest owners
Shares Value Change
Conestoga Capital Advisors 4.14M $142.04M -1.1%
Artisan Partners Limited Partnership 3.27M $112.13M +17.5%
ATAC Neuberger Berman 2.65M $90.98M -3.2%
BLK Blackrock 2.32M $79.57M -8.7%
Clearbridge Advisors 2.3M $78.87M +24.0%
First Light Asset Management 2.16M $74.09M +10.9%
Vanguard 1.78M $61.05M -5.3%
Riverbridge Partners 1.3M $44.44M +44.5%
Renaissance Technologies 1.1M $37.65M -12.7%
Schwartz Joshua M 1.09M $38.9M 0.0%
Largest transactions
Shares Bought/sold Change
FMR 21.77K -535.8K -96.1%
Artisan Partners Limited Partnership 3.27M +486.93K +17.5%
Clearbridge Advisors 2.3M +444.97K +24.0%
Riverbridge Partners 1.3M +399.64K +44.5%
BLK Blackrock 2.32M -220.54K -8.7%
First Light Asset Management 2.16M +212.17K +10.9%
Renaissance Technologies 1.1M -159.7K -12.7%
RY Royal Bank Of Canada 390.57K -149.02K -27.6%
Next Century Growth Investors 0 -141.57K EXIT
Ziegler Capital Management 74.95K -119.79K -61.5%

Financial report summary

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Competition
Oracle
Risks
  • We have incurred losses in the past, and we may not be profitable in the future.
  • Our operating results are likely to vary significantly from period to period and be unpredictable, which could cause the trading price of our common stock to decline.
  • We must improve our sales execution and increase our sales channels and opportunities in order to grow our revenues, and if we are unsuccessful, our operating results may be adversely affected.
  • Our sales cycles are time-consuming, and it is difficult for us to predict when or if sales will occur.
  • Our revenues are dependent on our ability to maintain and expand existing customer relationships and our ability to attract new customers.
  • The loss of one or more of our key customers could slow our revenue growth or cause our revenues to decline.
  • Because we recognize a majority of our subscription revenues from our customers over the term of their agreements, downturns or upturns in sales of our cloud-based solutions may not be immediately reflected in our operating results.
  • Our implementation cycle is lengthy and variable, depends upon factors outside our control and could cause us to expend significant time and resources prior to earning associated revenues.
  • A substantial majority of our total revenues have come from sales and renewals of our enterprise cloud products, and decreases in demand for our enterprise cloud products could adversely affect our results of operations and financial condition.
  • Most of our implementation contracts are on a time and materials basis and may be terminated by the customer.
  • We are exposed to fluctuations in currency exchange rates, which could negatively affect our financial condition and operating results.
  • If we are required to collect sales and use taxes on the solutions we sell, we may be subject to liability for past sales and our future sales may decrease.
  • We may need additional capital, and we cannot be certain that additional financing will be available.
  • Our ability to use our net operating losses to offset future taxable income may be subject to certain limitations.
  • We depend on our management team and our key sales and development and services personnel, and the loss of one or more key employees or groups could harm our business and prevent us from implementing our business plan in a timely manner.
  • Our transition from an on-premise to a cloud-based business model is subject to numerous risks and uncertainties.
  • Our future growth is, in large part, dependent upon the increasing adoption of revenue management solutions.
  • We are highly dependent upon the life sciences industry, and factors that adversely affect this industry could also adversely affect us.
  • Failure to adequately expand and train our direct sales force will impede our growth.
  • Our acquisition of other companies could require significant management attention, disrupt our business, dilute stockholder value and adversely affect our operating results.
  • We rely on third parties and their systems as we introduce a variety of new services, including the processing of transaction data and settlement of funds to us and our counterparties, and these third parties’ failure to perform these services adequately could materially and adversely affect our business.
  • Our customers often require significant configuration efforts to match their complex business processes. The failure to meet their requirements could result in customer disputes, loss of anticipated revenues and additional costs, which could harm our business.
  • If we are unable to enhance existing solutions and develop new solutions that achieve market acceptance or that keep pace with technological developments, our business could be harmed.
  • Our efforts to expand the adoption of our solutions in the technology industry will be affected by our ability to provide solutions that adequately address trends in that industry.
  • The market for cloud-based solutions is at an earlier stage of acceptance relative to on-premise solutions, and if it develops more slowly than we expect, our business could be harmed.
  • If we or our solutions fail to perform properly, our reputation and customer relationships could be harmed, our market share could decline, and we could be subject to liability claims.
  • The market in which we participate is highly competitive, and if we do not compete effectively, our operating results could be harmed.
  • If we are not able to maintain and enhance our brand, our business and operating results may be adversely affected.
  • If we are unable to maintain successful relationships with system integrators, our business operations, financial results and growth prospects could be adversely affected.
  • Any failure to offer high-quality customer support for our cloud platform may adversely affect our relationships with our customers and harm our financial results.
  • Incorrect or improper implementation or use of our solutions could result in customer dissatisfaction and negatively affect our business, operations, financial results and growth prospects.
  • Competition for our target employees is intense, and we may not be able to attract and retain the quality employees we need to support our planned growth.
  • Our significant international operations subject us to additional risks that can adversely affect our business, results of operations and financial condition.
  • Changes in privacy laws, regulations and standards may cause our business to suffer.
  • Failure to comply with certain certifications and standards pertaining to our solutions, as may be required by governmental authorities or other standards-setting bodies could harm our business. Additionally, failure to comply with governmental laws and regulations could harm our business.
  • We are subject to governmental export and import controls that could subject us to liability or impair our ability to compete in international markets.
  • Changes to government regulations may reduce the size of the market for our solutions, harm demand for our solutions, force us to update our solutions or implement changes in our services and increase our costs of doing business.
  • Any new implementation of or changes made to laws, regulations or other industry standards affecting our business in any of the geographic regions in which we operate may require significant development efforts or have an unfavorable effect on our business operations.
  • We may be the target of illegitimate or other improper transaction settlement despite compliance systems.
  • If our solutions do not interoperate with our customers’ IT infrastructure, sales of our solutions could be negatively affected, which would harm our business.
  • If our solutions experience data security breaches, and there is unauthorized access to our customers’ data, we may lose current or future customers, our reputation and business may be harmed, and we may incur significant liabilities.
  • We rely on a small number of third-party service providers to host and deliver our cloud-based solutions, and any interruptions or delays in services from these third parties could impair the delivery of our cloud-based solutions and harm our business.
  • Our use of open source and third-party technology could impose limitations on our ability to commercialize our solutions.
  • Any failure to protect our intellectual property rights could impair our ability to protect our proprietary technology and our brand, which would substantially harm our business and operating results.
  • We may not be able to enforce our intellectual property rights throughout the world, which could adversely impact our international operations and business.
  • We license technology from third parties, and our inability to maintain those licenses could harm our business. Certain third-party technology that we use may be difficult to replace or could cause errors or failures of our service.
  • We may be sued by third parties for alleged infringement of their proprietary rights which could result in significant costs and harm our business.
  • Our stock price may be volatile, and you may be unable to sell your shares at or above your purchase price.
  • The exclusive forum provision in our restated certificate of incorporation may limit a stockholder’s ability to bring a claim in a judicial forum that it finds favorable for disputes with us or any of our directors, officers, or other employees, which may discourage lawsuits with respect to such claims.
  • We do not anticipate paying any dividends on our common stock.
  • Our outstanding notes are effectively subordinated to our secured debt and any liabilities of our subsidiaries.
  • Our notes are our obligations only, and to the extent our operations will be conducted through, and a substantial portion of our consolidated assets will be held by, our subsidiaries, we may rely on distributions from such subsidiaries to service our debt.
  • Our indebtedness could adversely affect our business and limit our ability to expand our business or respond to changes, and we may be unable to generate sufficient cash flow to satisfy our debt service obligations.
  • Recent and future regulatory actions and other events may adversely affect the trading price and liquidity of our notes.
  • Volatility in the market price and trading volume of our common stock could adversely impact the trading price of our notes.
  • We and our subsidiaries may incur substantially more debt or take other actions which would intensify the risks discussed above.
  • We may not have the ability to raise the funds necessary to settle conversions of our notes in cash, to repurchase our notes for cash upon a fundamental change or to pay the redemption price for any notes we redeem, and our future debt may contain limitations on our ability to pay cash upon conversion or repurchase of the notes.
  • The conditional conversion feature of our notes, if triggered, may adversely affect our financial condition and operating results.
  • The accounting method for convertible debt securities that may be settled in cash, such as our outstanding notes, could have a material effect on our reported financial results.
  • Future sales of our common stock or equity-linked securities in the public market could lower the market price for our common stock and adversely impact the trading price of the notes.
  • Holders of our notes are not entitled to any rights with respect to our common stock, but they are subject to all changes made with respect to them to the extent our conversion obligation includes shares of our common stock.
  • The conditional conversion feature of the notes could result in holders of our notes receiving less than the value of our common stock into which the notes would otherwise be convertible.
  • Upon conversion of our notes, our note holders may receive less valuable consideration than expected because the value of our common stock may decline after such exercise of conversion rights but before we settle our conversion obligation.
  • Our notes are not protected by restrictive covenants.
  • The increase in the conversion rate for notes converted in connection with a make-whole fundamental change or a notice of redemption may not adequately compensate note holders for any lost value of their notes as a result of such transaction or redemption.
  • Upon any redemption of the notes on or after June 6, 2023 or any conversion of the notes in connection with a notice of redemption, the cash comprising the redemption price, in the case of a redemption, or the applicable conversion rate, in the case of a conversion in connection with a notice of redemption, as applicable, may not fully compensate note holders for future interest payments or lost time value of their notes and may adversely affect their return on the notes.
  • The conversion rate of our notes may not be adjusted for all dilutive events.
  • Provisions in the indenture for the notes may deter or prevent a business combination that may be favorable to our security holders.
  • Some significant restructuring transactions may not constitute a fundamental change, in which case we would not be obligated to offer to repurchase the notes.
  • We have not registered the notes or the common stock issuable upon conversion of the notes, if any, which will limit our note holders’ ability to resell them.
  • There may not be an active trading market for our notes.
  • Any adverse rating of the notes may cause their trading price to fall.
  • Note holders may be subject to tax if we make or fail to make certain adjustments to the conversion rate of the notes even though they do not receive a corresponding cash distribution.
  • We may invest or spend the proceeds of from the sale of our notes in ways with which our security holders may not agree or in ways which may not yield a return.
  • Because the notes will initially be held in book-entry form, holders must rely on DTC’s procedures to receive communications relating to the notes and exercise their rights and remedies.
  • Our financial results may be adversely affected by changes in accounting principles generally accepted in the United States.
  • If we fail to maintain an effective system of internal controls, our ability to produce timely and accurate financial statements or comply with applicable regulations could be impaired.
  • We incur significant costs and devote substantial management time as a result of operating as a public company.
  • If securities analysts do not publish research or reports or if they publish unfavorable or inaccurate research about our business and our stock, the price of our stock and the trading volume could decline.
  • Uncertainty in global economic conditions may adversely affect our business, operating results or financial condition.
  • Our business is subject to the risks of earthquakes, fire, power outages, floods and other catastrophic events, and to interruption by manmade problems such as terrorism.
  • We may face risks related to securities litigation that could result in significant legal expenses and settlement or damage awards.
  • Our restated certificate of incorporation and restated bylaws and Delaware law could prevent a takeover that stockholders consider favorable and could also reduce the market price of our stock.
Management Discussion
  • Subscription revenues increased by $7.6 million, or 26%, to $36.9 million for the three months ended June 30, 2021 from $29.3 million for the same period last year. As a percentage of total revenues, subscription revenues increased from 71% to 72%. The increase in our subscription revenues was due primarily to the contribution from the acquired business as well as an increased number of customer contracts. We intend to continue to focus on growing our recurring revenue from SaaS subscriptions in future periods.
  • Professional services revenues increased by $2.2 million, or 19%, to $14.1 million for the three months ended June 30, 2021 from $11.9 million for the same period last year. The increase in our professional services revenue was primarily driven
  • by the increase in delivery activities experienced in the professional services business in the third quarter of fiscal year 2021 and the contribution from the acquired business. As a percentage of total revenues, professional services revenues decreased from 29% to 28%. The decrease in our professional services revenue as a percentage of total revenue is primarily driven by the change in business model as we continue to move towards cloud-based solutions.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Good
New words: Attorney, Brexit, censure, Colorado, compliant, deletion, detailed, EDPB, EEA, fine, GDPR, identification, IP, machine, mentioned, Notably, passed, prompted, regime, role, scrutiny, statutorily, turnover, UK, urged, Virginia
Removed: handling