Notable News Spotlight: Nxt-ID, Inc. (NASDAQ: NXTD)

Shares of Nxt-ID, Inc. (NASDAQ: NXTD) were transacted with a volume of 166240 shares in last trading period as compared to its average volume of 295.24K shares over last three months period. The stock price scored -6.31% and valued at $1.04.

Nxt-ID a USA based Company, belongs to Services sector and Security & Protection Services industry. Shares of the company returned -11.12% during the last five trading days and it returned -1.89% in past 30 trading days. It changed -33.76% over recent three months. The stock has changed -25.71% in one year period and YTD Performance clocked at -70.29%.

Nxt-ID, Inc. (NASDAQ: NXTD), a provider of healthcare devices and services as well as payment credential management and authentication platform services, announces results for the three and nine months ended September 30, 2018.

Three and nine-month highlights:

  • Revenue from continuing operations for the first nine months of 2018 was approximately $13.1 million compared to $11.7 million for the same period in the prior year.
  • Revenue from continuing operations for Q3 2018 was approximately $4.4 million compared to $3.7 million for the same period in 2017.
  • Gross profit from continuing operations for the first nine months of 2018 was approximately $9.5 million compared to $8.2 million for the same period in 2017.
  • Gross profit from continuing operations for Q3 2018 was approximately $3.2 million compared to $2.6 million for the same period in 2017.
  • Operating income from continuing operations for the first nine months of 2018 was approximately $0.9 million compared to an operating loss of $(0.6) million for the same period in previous year.
  • Operating income from continuing operations for Q3 2018 was approximately $0.2 million compared to an operating loss of $(1.1) million in Q3 2017.
  • Non GAAP Operating income from continuing operations for the nine months ended September 30,2018, adjusted for depreciation, amortization and non-cash charges was approximately $2.3 million compared to $1.5 million for the same period in previous year.

Gino Pereira, Chief Executive Officer of Nxt-ID said “Our results for the nine months ended September 30, 2018 and the three months ended September 30, 2018 have been presented to reflect the proposed spin-off of the Fintech business as a discontinued operation for Nxt-ID”. “LogicMark continues to perform strongly. We continue to make investments in R&D for new products within LogicMark as well as working to build new distribution channels for its core offerings to grow what has been a reliably consistent contributor to our financial performance.

“Additionally, our Fit Pay subsidiary has made continued progress expanding the issuer footprint for Garmin Pay, adding the Maestro European card network and growing its issuer network to more than 225 issuers in 27 countries, which expands the revenue potential of its flagship customer. Fit Pay was also announced as a partner for the Visa Token Service for credential-on-file (COF) token requestors, which represents a significant extension of Fit Pay’s capabilities greatly increasing the addressable market for its platform services.

“We have a number of significant business development opportunities that we are pursuing for the remainder of 2018 and we remain confident that the Company is poised for continued significant growth.”

The price moved ahead -1.02% from the mean of 20 days, -14.98% from 50 and separated -40.31% from 200 days average price. Its price volatility for a month is at 12.95% and for a week, volatility remained at 12.41%. It beta stands at -3.46. Company’s price to sales ratio for last 12 months was 1.34 while its price to book ratio for the most recent quarter was 1.62. Its Market Cap valued at $25.6M.

About the Author

Jose Tuttle
Jose Tuttle
Jose Tuttle joined the mostvolatilestocks.com, after more than 10 years of experience in writing financial and business news, most recently as Investment Editor and writer. He also has a vast knowledge of stock trading. He earned bachelor degree from Union College with a focus in Business Administration. Jose is the Senior Editor for mostvolatilestocks.com and market movers section. He also holds an MBA from Penn State University He has two daughter and two children. Email Contact -  Jose@mostvolatilestocks.com.

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