Wednesday, August 17, 2022
TAAL Distributed Information Technologies (TAALF)
Making its Way Through the Crypto Malaise
TAAL Distributed Information Technologies Inc. delivers value-added blockchain services, providing professional-grade, highly scalable blockchain infrastructure and transactional platforms to support businesses building solutions and applications upon the BitcoinSV platform, and developing, operating, and managing distributed computing systems for enterprise users.
Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
2Q22 Results. TAAL reported second quarter 2022 revenue of $7.3 million (all figures in CAD$), up from $6.7 million in the year ago quarter but down from 1Q22 of $8.7 million. The sequential drop reflects the difficult operating conditions in the crypto market, including both declining values and reduced trade volumes. We had projected revenue of $8.1 million. Driven by gains on the sale of assets, TAAL reported net income of $16.3 million, or $0.33 per share, compared to a net loss of $10.1 million, or $0.29 per share, in the year ago period. We had estimated a net loss of $2.1 million, or $0.05 per share.
Site Diversification. TAAL is moving forward with diversifying its computing power, with the recent New Mexico agreement, the ongoing development of the New Brunswick facility, and rental computing power. With additional units on the way, we expect TAAL to be able to replace its current Russian operations by year-end 2022….
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
