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ServiceSource International (SREV)

ServiceSource International, Inc. is a global outsourced go-to-market services provider that accelerates B2B digital sales and customer success transformation. Its expert sales professionals, data-powered insights and proven methodologies scale and reimagine customer journey experiences (CJX™) into profitable business outcomes. Backed by more than 20 years of experience, ServiceSource drives billions of dollars in client value annually, conducting commerce in 45 languages and 178 countries.

Company profile

Ticker
SREV
Exchange
CEO
Gary B. Moore
Employees
Incorporated
Location
Fiscal year end
Former names
CONCENTRIX SERVICESOURCE INC., SERVICESOURCE INTERNATIONAL LLC, SERVICESOURCE INTERNATIONAL, INC.
SEC CIK
Subsidiaries
ServiceSource Delaware, Inc. • ServiceSource Europe, Ltd. • SSI Europe UK Limited • ServiceSource International Singapore Pte. Ltd. • ServiceSource International • ServiceSource International Japan G.K. ...
IRS number
810578975

SREV stock data

Calendar

10 May 22
28 Sep 22
31 Dec 22
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 31.81M 31.81M 31.81M 31.81M 31.81M 31.81M
Cash burn (monthly) (no burn) 387.75K 1.24M 775.67K (no burn) (no burn)
Cash used (since last report) n/a 2.29M 7.36M 4.59M n/a n/a
Cash remaining n/a 29.52M 24.45M 27.22M n/a n/a
Runway (months of cash) n/a 76.1 19.6 35.1 n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
20 Jul 22 Michael Damien Naughton Common Stock Sale back to company Dispose D No No 1.5 635,873 953.81K 0
20 Jul 22 Michael Damien Naughton Option Common Stock Sale back to company Dispose D No No 0.58 50,000 29K 0
20 Jul 22 Chad William Lyne Common Stock Sale back to company Dispose D No No 1.5 621,337 932.01K 0
20 Jul 22 Chad William Lyne Option Common Stock Sale back to company Dispose D No No 0.58 150,000 87K 0
20 Jul 22 Jane L Okun Bomba Common Stock Sale back to company Dispose D No No 1.5 242,975 364.46K 0
20 Jul 22 Ferron John R Common Stock Sale back to company Dispose D No No 1.5 450,000 675K 0
20 Jul 22 Ferron John R Option Common Stock Sale back to company Dispose D No No 0.49 25,000 12.25K 0
20 Jul 22 John R Harris Common Stock Sale back to company Dispose D No No 1.5 300,000 450K 0
20 Jul 22 John R Harris Option Common Stock Sale back to company Dispose D No No 0.5733 25,000 14.33K 0
13F holders Current Prev Q Change
Total holders 46 49 -6.1%
Opened positions 1 7 -85.7%
Closed positions 4 10 -60.0%
Increased positions 8 11 -27.3%
Reduced positions 20 19 +5.3%
13F shares Current Prev Q Change
Total value 92.99M 73.04M +27.3%
Total shares 72.07M 72.36M -0.4%
Total puts 48.7K 107.6K -54.7%
Total calls 72.5K 83.1K -12.8%
Total put/call ratio 0.7 1.3 -48.1%
Largest owners Shares Value Change
Edenbrook Capital 20.88M $27.15M +2.8%
Archon Capital Management 9.86M $12.82M 0.0%
Primecap Management 8.2M $10.67M -0.5%
Lynrock Lake 7.39M $9.61M +0.6%
Koller Capital 6.68M $6.62M 0.0%
Vanguard 4.42M $5.75M +8.9%
Renaissance Technologies 3.65M $4.74M -9.4%
AMH Equity 2.37M $3.08M +5.6%
BLK Blackrock 1.27M $1.66M +0.6%
Silverback Asset Management 1.26M $1.64M -1.3%
Largest transactions Shares Bought/sold Change
Edenbrook Capital 20.88M +577.81K +2.8%
Renaissance Technologies 3.65M -378.08K -9.4%
Vanguard 4.42M +361.97K +8.9%
Assenagon Asset Management 39.93K -189.51K -82.6%
AMH Equity 2.37M +124.93K +5.6%
Bridgeway Capital Management 263.42K -120K -31.3%
HRT Financial 0 -89.73K EXIT
Simplex Trading 0 -86.26K EXIT
Millennium Management 1.16M -85.89K -6.9%
Citadel Advisors 43.02K -79.11K -64.8%

Financial report summary

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Competition
OmnicomOracleGenpactAccenture
Risks
  • Our business and growth depend substantially on clients renewing their agreements with us and expanding their use of our solution for additional available markets. Any decline in our client renewals, termination of ongoing engagements or failure to expand their relationships with us could harm our future operating results.
  • Our revenue will decline if there is a decrease in the overall demand for our clients’ products and services.
  • The ongoing COVID-19 pandemic may have a material adverse effect on our business, financial position, results of operations and/or cash flows.
  • If our performance falls short of our estimates, our client relationships will be at risk, our revenue will suffer and our ability to grow could be harmed.
  • We depend on a limited number of clients for a significant portion of our revenue, and the loss of business from one or more of our key clients could adversely affect our results of operations.
  • If we cannot efficiently implement our offering for clients, we may be delayed in generating revenue, fail to generate revenue and/or incur significant costs.
  • Because competition for our target employees is intense, we may be unable to attract and retain the highly skilled employees we need to support our planned growth.
  • If our security measures are breached or fail, resulting in unauthorized access to client data, our solution may be perceived as insecure, the attractiveness of our solution to current or potential clients may be reduced and we may incur significant liabilities.
  • We may be liable to our clients or third parties if we make errors in providing our solution or fail to properly safeguard our clients’ confidential information.
  • We conduct operations in a number of countries and are subject to risks of international operations.
  • Laws or public perception may eliminate or restrict our ability to use revenue delivery centers not located in the U.S., which could have a material adverse impact on our business and results of operations.
  • Changes in the legal and regulatory environment that affect our operations, including laws and regulations relating to the handling of personal data, data security and cross-border data flows, may impede the adoption of our services, disrupt our business or result in increased costs, legal claims, or fines against us.
  • Consolidation in the technology sector could harm our business in the event that our clients are acquired and their contracts are canceled.
  • We enter into long-term, commission-based contracts with our clients, and our failure to correctly price these contracts may negatively affect our profitability.
  • A substantial portion of our business consists of supporting our clients’ channel partners in the sale of service contracts. If those channel partners become unreceptive to our solution, our business could be harmed.
  • We face long sales cycles to secure new client contracts, making it difficult to predict the timing of specific new client relationships.
  • The length of time it takes our newly hired sales representatives and global account managers to become productive could adversely impact our success rate, the execution of our overall business plan and our costs.
  • Our revenue and earnings are affected by foreign currency exchange rate fluctuations.
  • The exit of the United Kingdom from the European Union could adversely affect our business.
  • Claims by others that we infringe or violate their intellectual property could force us to incur significant costs and require us to change the way we conduct our business.
  • Interruption of operations at our data centers and revenue delivery centers could have a materially adverse effect on our business.
  • We are dependent on the continued participation and level of service of our third-party platform provider. Any failure or disruption in this service could materially and adversely affect our ability to manage our business effectively.
  • We may be subject to state, local and foreign taxes that could harm our business.
  • We may incur material restructuring charges.
  • We have incurred indebtedness in connection with our business and may incur additional indebtedness in the future.
  • If we are unable to secure additional borrowing options in the future, it may have an adverse effect on our business.
  • Our financial condition and results of operations could suffer if there is an impairment of goodwill.
  • If we were to experience an ownership change, we could be limited in our ability to use NOLs arising prior to the ownership change to offset future taxable income. In addition, our ability to use NOLs to reduce future tax payments may be limited if our taxable income does not reach sufficient levels.
  • Anti-takeover provisions contained in our certificate of incorporation and bylaws, as well as provisions of Delaware law, could impair a takeover attempt.
  • We may be unable to maintain compliance with Nasdaq Marketplace Rules which could cause our common stock to be delisted from the Nasdaq Global Select Market. This could result in the lack of a market for our common stock, cause a decrease in the value of our common stock, and adversely affect our business, financial condition and results of operations.
  • If securities or industry analysts do not publish or cease publishing research or reports about us, our business or our market, or if they change their recommendations regarding our stock, our stock price and trading volume could decline.
  • Because we currently do not intend to pay dividends, stockholders will benefit from an investment in our common stock only if it appreciates in value.
  • Our business or the value of our common stock could be negatively affected as a result of actions by activist stockholders.
Management Discussion
  • Net revenue is primarily attributable to commissions we earn from the sale of renewals of maintenance, support and subscription agreements on behalf of our clients. We also generate revenues from selling professional services.
  • Cost of revenue includes employee compensation, technology costs, including those related to the delivery of our cloud-based technologies, and allocated overhead expenses which consist of depreciation, amortization of internally developed software, facility and technology costs.
  • Net revenue increased $3.9 million, or 9%, for the three months ended March 31, 2022 compared to the same period in 2021, primarily due to increased bookings and lower client churn.

Content analysis

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