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Procyon (PCYN)

Procyon Corp. is a holding company, which engages in the development and marketing of proprietary medical products. Its products include AMERX, AMERIGEL, HELIX3 Bioactive Collagen, and EXTREMIT-EASE Compression Garment. The company was founded on March 19, 1987 and is headquartered in Clearwater, FL.

Company profile

Ticker
PCYN
Exchange
Website
CEO
Justice Wolfe Anderson
Employees
Incorporated
Location
Fiscal year end
SEC CIK
IRS number
368732690

PCYN stock data

Calendar

16 May 22
2 Jul 22
30 Jun 23
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) Jun 21 Jun 20 Jun 19 Jun 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
31 Mar 22 Foundation Speer Common Stock Sell Dispose S No No 0 40,000 0 1,460,000
7 Feb 22 Foundation Speer Common Stock Sell Dispose S No No 0 15,000 0 1,500,000
6 Dec 21 Foundation Speer Common Stock Sell Dispose S No No 0 25,000 0 1,515,000
30 Jun 21 Justice Wolfe Anderson Stock Option Common Stock Grant Acquire A No No 0.373 25,000 9.33K 25,000
30 Jun 21 James Brian Anderson Stock Option Common Stock Grant Acquire A No No 0.373 25,000 9.33K 25,000
30 Jun 17 Justice Wolfe Anderson Stock Option Common Stock Grant Acquire A No No 0.19 25,000 4.75K 25,000
30 Jun 16 Justice Wolfe Anderson Stock Option Common Stock Grant Acquire A No No 0.15 40,000 6K 40,000
19.2% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 1 1
Opened positions 0 1 EXIT
Closed positions 0 0
Increased positions 0 0
Reduced positions 0 0
13F shares Current Prev Q Change
Total value 0 0
Total shares 1.56M 1.56M
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners Shares Value Change
Foundation Speer 1.56M $0 0.0%
Largest transactions Shares Bought/sold Change
Foundation Speer 1.56M 0 0.0%

Financial report summary

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Management Discussion
  • Revenues. Revenues decreased by $1.5 million, or 17%, from $8.8 million for the three months ended March 31, 2021 to $7.3 million for the three months ended March 31, 2022. The decrease was mainly driven by a contract reduction from our largest customer (as first disclosed in the Q3 2020 Form 10-Q), which was effective in Q2 2021. The revenue impact of this contract reduction was $0.7 million. Additionally, revenue was adversely impacted by customer contracts renewals at lower values and churn coupled with the end of life of several legacy products that began during 2020. These declines were offset by new customers added in 2021 and 2022 in our Threat Detection and email security businesses.
  • During the second quarter of 2020, the Company released two new products, Cyren Inbox Security and Threat InDepth. Since these product launches, the Company has signed numerous new customer contracts representing over $3.3 million in estimated revenue over the lives of the contracts, but due to the timing, duration and ratable nature of the contracts, there was not a material amount of revenue recognized for the three months ended March 31, 2022 or March 31, 2021.
  • Cost of Revenues. Cost of revenues for the three months ended March 31, 2022 was consistent with cost of revenues for the three months ended March 31, 2021. For the three months ended March 31, 2022, cost of revenues represented 53% of revenue, compared to 43% during the same period in the prior year, and accordingly, gross margins for the period were 47% for the three months ended March 31, 2022 compared to 57% for the same period in the prior year, primarily due to the decline in revenue. Payroll and related expenses decreased by $0.1 million or 1% primarily due to a decline in headcount from 36 employees as of March 31, 2021, compared to 31 as of March 31, 2022. Offsetting some of this decrease was an increase of $0.1 million in share-based compensation related to new equity awards issued in the period ending March 31, 2022. Other costs of revenue expenses increased by $0.1 million or 3% primarily due to an increase in costs associated with maintaining our datacenters.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
8th grade Avg
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