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TAAL Distributed Information Technologies (TAALF) – Results Below Expectations in Challenging Crypto Market

Tech
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Tuesday, June 07, 2022

TAAL Distributed Information Technologies (TAALF)
Results Below Expectations in Challenging Crypto Market

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.

1Q22 Results. TAAL reported first quarter 2022 revenue of $8.7 million, up from $0.9 million in the year ago quarter but down from 4Q21 of $14.7 million. The sharp drop is due to the difficult operating conditions in the crypto market, including both declining values and reduced trade volumes. We had projected revenue of $12 million. TAAL reported a net loss of $12.7 million, or $0.33 per share, mostly driven by a sharp increase in non-cash share-based payments. We had estimated a net loss of $700,000, or $0.02 per share.

Operating Environment. Declining prices and lowered volumes as a result of overall economic conditions have pushed expected operating growth to the right. BSV is currently selling for about $58, down from $121 at the beginning of the year. Total crypto volume declined to $2.25 trillion in the quarter, down from $3.73 trillion in the fourth quarter….

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. 

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