ClearOne, Inc. (CLRO) | Investment Case

1. Company Snapshot

1.a. Company Description

ClearOne, Inc., together with its subsidiaries, designs, develops, and sells conferencing, collaboration, and network streaming solutions for voice and visual communications in the United States and internationally.The company offers a range of audio conferencing products, including professional audio conferencing and sound-reinforcement products for use in enterprise, healthcare, education and distance learning, government, legal, and finance organizations; mid-tier premium conferencing products for smaller rooms, and small and medium businesses, which interface with video and Web conferencing systems; USB-based personal and group speakerphones that could be used with PCs, laptops, tablets, smartphones, and other portable devices; and traditional tabletop conferencing phones used in conference rooms and offices.It also provides video products, such as video conferencing and collaboration solutions; and AV networking, which deliver the IP A/V experience by streaming time sensitive high definition audio and video, and control over TCP/IP networks.

In addition, the company offers professional microphones consisting of beamforming microphones, ceiling microphones, and wireless microphones.ClearOne, Inc.sells its commercial products to a network of independent professional audiovisual, information technology, and telecommunications distributors, as well as systems integrators, dealers, value-added resellers, and end-users.

The company was incorporated in 1983 and is headquartered in Salt Lake City, Utah.

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1.b. Last Insights on CLRO

ClearOne's recent performance is driven by a series of innovative product launches and strategic announcements. The company showcased its conferencing audio technologies and collaboration solutions at ISE 2025, and introduced several new products, including the BMA 360DX all-in-one ceiling tile and the DIALOG AERO two-channel digital wireless microphone system. Additionally, ClearOne announced the addition of a 4-channel access point and a 4-bay dock for its award-winning DIALOG UVHF wireless microphone system, and debuted its NDI-enabled UNITE 260N Pro camera at ISE 2025. These product launches demonstrate ClearOne's commitment to innovation and expanding its offerings in the conferencing and collaboration space.

1.c. Company Highlights

Last Price	5.18
Change Percentage	-2.72%
Open	5.28
Previous Close	5.33
Market Cap ( Millions)	9
Volume	2035
Year High	21
Year Low	3.83
M A 50	5.3
M A 200	6.58

FCF Yield	-54.75%
Dividend Yield	0.00%
ROE	-157.60%
Debt / Equity	16.35%
Net Debt / EBIDTA	-4.72%
Price To Book	2.6
Price Earnings Ratio	-0.38
Price To FCF	-1.83
Price To sales	1.25
EV / EBITDA	-0.96

2. Transcript Summary

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3. NewsRoom

ClearOne Announces Closure of Asset Sale Transaction

Oct -27

Source: businesswire.com

ClearOne Stock Falls on Wider Q2 Loss, Revenue Decline and Sale Plan

Aug -21

Source: zacks.com

ClearOne, Inc. Clarifies Dividend Date for Special Stock Dividend

Jul -10

Source: businesswire.com

ClearOne, Inc. Announces a Special One-time Stock Dividend

Jun -30

Source: businesswire.com

ClearOne Stock Sinks 27% After Posting Wider Q1 Loss, Y/Y Revenue Dip

May -27

Source: zacks.com

ClearOne, Inc. Announces 1-for-15 Reverse Stock Split

May -21

Source: businesswire.com

ClearOne, Inc. Reports First Quarter 2025 Financial Results

May -19

Source: businesswire.com

ClearOne Slides on Q4 Loss Despite Cost Cuts & Latest Launches

Apr -03

Source: zacks.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (10.32%)

6. Segments

Audio Conferencing

Expected Growth: 10.4%

Growing demand for remote meetings and collaborations, advancements in audio technology, and increasing adoption of virtual communication tools drive the growth of the audio conferencing market.

Microphones

Expected Growth: 10.2%

Growing demand for high-quality audio solutions in conferencing, live events, and installed audio applications drives ClearOne's microphone sales. Increasing adoption of virtual and hybrid events, and the need for reliable audio capture in various settings, fuel market growth.

Video Products

Expected Growth: 10.4%

Growing demand for remote collaboration and virtual meetings, increasing adoption of video conferencing solutions, and advancements in AI-powered video analytics drive the growth of ClearOne's video products.

7. Detailed Products

Converge Pro

A professional audio conferencing system designed for large meeting spaces and conference rooms

Beamforming Microphone Array

A ceiling-mounted microphone array that uses beamforming technology to capture and amplify audio signals

COLLABORATE Space

A video conferencing platform that integrates with various devices and platforms

VIEW Pro

A 4K multimedia streaming and recording system designed for lecture capture, live events, and video on demand

Interact Pro

A wireless microphone system designed for presentations, lectures, and live events

WS800 Digital Signal Processor

A digital signal processor designed for audio conferencing and sound reinforcement applications

8. ClearOne, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

ClearOne, Inc. faces moderate threat from substitutes due to the availability of alternative conferencing solutions.

Bargaining Power Of Customers

ClearOne, Inc. has a diverse customer base, which reduces the bargaining power of individual customers.

Bargaining Power Of Suppliers

ClearOne, Inc. relies on a few key suppliers for its audio and video conferencing solutions, giving them moderate bargaining power.

Threat Of New Entrants

The conferencing solutions market is attractive, and new entrants can easily enter the market, posing a high threat to ClearOne, Inc.

Intensity Of Rivalry

The conferencing solutions market is highly competitive, with many established players, leading to a high intensity of rivalry.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

	Value
Debt Weight	2.29%
Debt Cost	3.95%
Equity Weight	97.71%
Equity Cost	8.76%
WACC	8.65%
Leverage	2.35%

11. Quality Control: ClearOne, Inc. passed 5 out of 9 key points

Strong Liquidity

Low Debt

Strong Interest Coverage

Healthy Cash Flow

Operating Efficiency

Strong Return On Equity

Consistent Revenue Growth

Consistent Operating Cash Flow Growth

Margin Improvement

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Frequency Electronics

A-Score: 5.6/10

Value: 3.7

Growth: 5.2

Quality: 7.6

Yield: 5.0

Momentum: 10.0

Volatility: 2.0

1-Year Total Return ->

Digi

A-Score: 5.2/10

Value: 3.3

Growth: 6.7

Quality: 7.8

Yield: 0.0

Momentum: 8.0

Volatility: 5.3

1-Year Total Return ->

Knowles

A-Score: 4.3/10

Value: 3.6

Growth: 1.4

Quality: 6.3

Yield: 0.0

Momentum: 8.0

Volatility: 6.3

1-Year Total Return ->

Clearfield

A-Score: 3.3/10

Value: 2.4

Growth: 4.2

Quality: 4.5

Yield: 0.0

Momentum: 5.0

Volatility: 3.7

1-Year Total Return ->

Iteris

A-Score: 3.2/10

Value: 1.0

Growth: 7.0

Quality: 4.8

Yield: 0.0

Momentum: 5.0

Volatility: 1.3

1-Year Total Return ->

ClearOne

A-Score: 3.1/10

Value: 7.4

Growth: 2.1

Quality: 3.9

Yield: 5.0

Momentum: 0.5

Volatility: 0.0

1-Year Total Return ->

Peers Metrics

12.e Scoring ^Insights

12.f DCF ^BETA

Parameters

Short Term Growth

15.09%

Short term Time

10.0

Long-Term Growth

2.00%

WACC

8.65%

ClearOne, Inc. - US18506U1043

1. Company Snapshot

1.a. Company Description

1.b. Last Insights on CLRO

1.c. Company Highlights

Higher Yield

Cheaper

More Volatile

Revenues Miss

Weak Momentum

Lower Growth

Strong Momentum

2. Transcript Summary

3. NewsRoom

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (10.32%)

6. Segments

Audio Conferencing

Expected Growth: 10.4%

Microphones

Expected Growth: 10.2%

Video Products

Expected Growth: 10.4%

7. Detailed Products

Converge Pro

Beamforming Microphone Array

COLLABORATE Space

VIEW Pro

Interact Pro

WS800 Digital Signal Processor

8. ClearOne, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Bargaining Power Of Customers

Bargaining Power Of Suppliers

Threat Of New Entrants

Intensity Of Rivalry

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

11. Quality Control: ClearOne, Inc. passed 5 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

5.18$

Current Price

5.18$

Potential

-0.00%

Expected Cash-Flows

12.e Scoring ^Insights

12.f DCF ^BETA