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Liberated Syndication (LSYN)

Liberated Syndication Inc. engages in the provision of podcast hosting services, media distribution statistics, and tools. It operates through the Libsyn and Pair segments. The Libsyn segment offers podcast hosting services. The Pair segment includes internet hosting services. The company was founded on September 29, 2005 and is headquartered in Pittsburgh, PA.

Company profile

Ticker
LSYN
Exchange
Website
CEO
Laurie Ann Sims
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
Webmayhem, Inc. • pair Networks Inc • Ryousha Kokusai, LLC • pair International • 66083NB, Inc. ...

LSYN stock data

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

31 Mar 21
1 Oct 22
31 Dec 22
Quarter (USD) Sep 20 Jun 20 Mar 20 Sep 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
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) 13.82M 13.82M 13.82M 13.82M 13.82M 13.82M
Cash burn (monthly) 1.87M 32.27K 471.85K (no burn) 395.12K (no burn)
Cash used (since last report) 45.02M 776.33K 11.35M n/a 9.5M n/a
Cash remaining -31.2M 13.04M 2.47M n/a 4.31M n/a
Runway (months of cash) -16.7 404.1 5.2 n/a 10.9 n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
14 Mar 22 Tirpak Bradley M Common Stock Buy Acquire P No No 3.75 53,334 200K 715,834
14 Mar 22 Eric Shahinian Common Stock Buy Acquire P Yes No 3.75 533,334 2M 5,242,792
31 Dec 21 Eric Shahinian Common Stock Grant Acquire A No No 0 25,000 0 50,000
31 Dec 21 Douglas N Woodrum Common Stock Grant Acquire A No No 0 18,750 0 18,750
31 Dec 21 Denis Yevstifeyev Common Stock Grant Acquire A No No 0 25,000 0 200,000
10.0% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 3 3
Opened positions 0 2 EXIT
Closed positions 0 0
Increased positions 1 0 NEW
Reduced positions 0 0
13F shares Current Prev Q Change
Total value 11.26M 10.6M +6.2%
Total shares 2.99M 2.85M +5.1%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners Shares Value Change
Hudson Executive Capital 2.54M $9.54M +6.0%
Radoff Bradley Louis 445K $1.72M 0.0%
Captrust Financial Advisors 84 $0 0.0%
Largest transactions Shares Bought/sold Change
Hudson Executive Capital 2.54M +144K +6.0%
Radoff Bradley Louis 445K 0 0.0%
Captrust Financial Advisors 84 0 0.0%

Financial report summary

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Competition
MicrosoftGodaddy
Risks
  • Risks Relating to Our Business
  • The Company may pursue acquisitions, investments or other strategic relationships or alliances, which may consume significant resources, may be unsuccessful and could dilute holders of its common stock.
  • The Company’s products and services compete in segments of the internet service industry that are highly competitive.
  • We may be required to record a significant charge to earnings as we are required to re-assess our goodwill and other intangible assets.
  • We face a higher risk of failure because of the competitiveness of companies in the internet, technology, domain, hosting and podcast industries.
  • We face significant competition for our products in the domain name registration and web-hosting markets and other markets in which we compete, which we expect will continue to intensify, and we may not be able to maintain or improve our competitive position or market share.
  • We rely on search engines to attract a meaningful portion of our customers. If search engines change their search algorithms or policies regarding advertising, increase their pricing or suffer problems, our ability to attract new customers may be impaired.
  • We rely on online/digital marketing and lead generation to attract new customers and provide upsell opportunities to our existing customer base. Personal information protections and privacy laws may reduce the effectiveness of marketing effort and our ability to attract new customers may be impaired.
  • If the rate of growth of small and medium businesses is significantly lower than our estimates or if demand for our products does not meet expectations, our ability to generate revenue and meet our financial targets could be adversely affected.
  • We may not be able to maintain and enhance our brands.
  • If we do not respond effectively to technological change, our products and services could become obsolete.
  • If we fail to develop new products, or if we incur unexpected expenses or delays in product development, we may lose our competitive position.
  • Changes to podcast, app and social media platform policies and processes could have an adverse effect on the business plans of Libsyn, including revenues.
  • System and online security failures could harm our business and operating results.
  • If the security of the confidential information or personally identifiable information we maintain, including that of our customers and the visitors to our customers' websites stored in our systems, is breached or otherwise subjected to unauthorized access, our reputation may be harmed, and we may be exposed to liability.
  • Privacy concerns relating to our technology could damage our reputation and deter existing and new customers from using our products.
  • We are subject to privacy and data protection laws and regulations as well as contractual privacy and data protection obligations. Our failure to comply with these or any future laws, regulations or obligations could subject us to sanctions and damages and could harm our reputation and business.
  • If we are unable to attract and retain customers and increase sales to new and existing customers, our business and operating results would be harmed.
  • If we do not successfully develop and market products that anticipate or respond promptly to the needs of our customers, our business and operating results may suffer.
  • We are exposed to the risk of system failures and capacity constraints.
  • Evolving technologies and resulting changes in customer behavior or customer practices may impact the value of and demand for our products.
  • We rely on our marketing efforts and channels to promote our brand and acquire new customers. These efforts may require significant expense and may not be successful or cost-effective.
  • We may need additional equity, debt or other financing in the future, which we may not be able to obtain on acceptable terms, or at all, and any additional financing may result in restrictions on our operations or substantial dilution to our stockholders.
  • Changes in accounting principles, or interpretations thereof, may cause unexpected financial reporting fluctuations and adversely affect our operating results and financial statements going forward.
  • Because we are generally required to recognize revenue for our products over the term of the applicable agreement, changes in our sales may not be immediately reflected in our operating results.
  • Our failure to properly register or maintain our customers' domain names could subject us to additional expenses, claims of loss or negative publicity that could have a material adverse effect on our business.
  • We rely heavily on the reliability, security and performance of our internally developed systems and operations. Any difficulties in maintaining these systems may result in damage to our brand, service interruptions, decreased customer service or increased expenditures.
  • Undetected or unknown defects in our products could harm our business and future operating results.
  • Failure to adequately protect and enforce our intellectual property rights could substantially harm our business and operating results.
  • Our business depends on our customers continued and unimpeded access to the Internet and the development and maintenance of Internet infrastructure. Internet access providers may be able to block, degrade or charge for access to certain of our products, which could lead to additional expenses and the loss of customers.
  • Our business is exposed to risks associated with credit card and other online payment chargebacks and fraud.
  • Activities of customers or the content of their websites could damage our reputation and brand or harm our business and financial results.
  • We may face liability or become involved in disputes over registration and transfer of domain names and control over websites.
  • We are dependent on the continued services and performance of our senior management and other key employees, the loss of any of whom could adversely affect our business, operating results and financial condition.
  • If we are unable to hire, retain and motivate qualified personnel, our business would suffer.
  • The requirements of being a public company may strain our resources.
  • Our business is subject to the risks of earthquakes, fire, power outages, floods and other catastrophic events and to interruption by man-made problems such as terrorism.
  • The Company may be responsible for certain obligations retained by FAB.
  • Risks Related to Our Industry
  • Governmental and regulatory policies or claims concerning the domain name registration system and the Internet in general, and industry reactions to those policies or claims, may cause instability in the industry and disrupt our business.
  • ICANN periodically authorizes the introduction of new TLDs, and we may not have the right to register new domain names to our customers based on such TLDs, which could adversely impact our business and results of operations.
  • The relevant domain name registry and ICANN impose a charge upon each registrar for the administration of each domain name registration. If these fees increase, it would have a significant impact upon our operating results.
  • Our business and financial condition could be harmed materially if small consumers and small businesses and ventures were no longer able to rely upon the existing domain name registration system.
  • Changes in state taxation laws and regulations may discourage the registration or renewal of domain names for e-commerce.
  • Risks related to our Common Stock and management's percentage of ownership of our Common Stock
  • The market price and trading volume of our Common Stock may be volatile and may face negative pressure.
  • Future sales of our Common Stock could adversely affect our stock price and our ability to raise capital in the future.
  • Due to the instability in our common stock price, you may not be able to sell your shares at a profit.
  • The sale of already outstanding shares of our common stock could hurt our common stock market price.
  • Failure to meet financial expectations could have an adverse impact on the market price of the Company’s common stock.
Management Discussion
  • During the nine months ended September 30, 2020, the Company recorded revenues of $19,114,200, a 5% increase from revenues of $18,202,733 for the same period in 2019. The increase for 2020 reflects an increase in Libsyn4 hosting revenue and Premium Subscriptions, offset by a decrease in Advertising and LibsynPro revenue. Libsyn contributed $11,828,145 and $10,562,580 of revenue during the first nine months of 2020 and 2019, respectively. Pair contributed $7,286,055 and $7,640,153 of revenue during the first nine months of 2020 and 2019, respectively.
  • Libsyn4 hosting revenue increased $ 1,379,214, or 17%, during the nine months ended September 30, 2020 when compared to the same period in 2019 due to the growth in the number of podcasts on the network. LibsynPro decreased by 5% during the nine months ended September 30, 2020 when compared to the same period in 2019. Advertising revenue decreased $151,197 during the first nine months of 2020 versus the same period of 2019. The decrease resulted from a decrease in the dollars being spent on ad campaigns during the first nine months of 2020 with existing advertisers. Premium subscription revenue increased $117,290 in the first nine months of 2020 versus the same period of 2019.
  • The Company recorded total costs and operating expenses of $17,184,769 during the first nine months of 2020, a 15% increase as compared to total costs and operating expenses of $14,942,936 during the same period of 2019. Libsyn contributed $9,196,311 to total costs and operating expenses during the first nine months of 2020, and $7,037,309 during the same period in 2019. Pair contributed $7,988,458 to total costs and operating expenses during the first nine months of 2020 and $7,905,627 during the same period in 2019.

Content analysis

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