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1. Company Snapshot

1.a. Company Description

SeaChange International, Inc.provides multiscreen, advertising, and premium over the top (OTT) video products and services that facilitate the aggregation, licensing, management, and distribution of video and advertising content worldwide.The company offers video products, including video back-office, a software platform that enables content and service providers to manage, monetize and deliver a seamless viewing experience to subscribers across televisions, personal computers (PCs), tablets, smart phones, and other IP-enabled devices; and media asset management software, which is used to receive, manage and publish video content for viewing on televisions, tablets, PCs and other consumer devices.


It also provides an advertising platform to maximize advertising revenue across multiscreen, broadcast, on-demand, and OTT viewing.In addition, the company offers client application, a multiscreen user experience product that empower service providers and content owners to optimize live and on-demand video consumption on multiscreen and OTT services.Further, it provides professional, and maintenance and technical support services, as well as managed services.


The company sells and markets its products and services through a direct sales process, as well as to systems integrators and value-added resellers.It serves cable system operators, telecommunications companies, and satellite operators, as well as broadcasters and other content providers.The company was incorporated in 1993 and is headquartered in Boston, Massachusetts.

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1.b. Last Insights on SEAC

SeaChange International's recent performance was driven by the company's successful tender offer, which aimed to purchase up to $6.16 million shares of its common stock. The preliminary results of the tender offer indicate a strong response from shareholders, with the company set to repurchase a significant amount of shares. Additionally, the company's brand was featured at Oceana's SeaChange Summer Party, which raised over $1.5 million for ocean conservation efforts. These events demonstrate the company's commitment to its stakeholders and its ability to generate positive outcomes through strategic initiatives.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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SeaChange International (NASDAQ:SEAC) versus AppTech Payments (NASDAQ:APCX) Financial Review

Nov -22

Source: defenseworld.net

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Orange County Advocates Raise Over $1.7 Million for Ocean Conservation at Oceana's 18th Annual SeaChange Summer Party

Jul -28

Source: globenewswire.com

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Orange County Advocates Raise Over $1.5 Million for Ocean Conservation at Oceana's SeaChange Summer Party

Aug -19

Source: globenewswire.com

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Tiber Ventures, Inc. (fka SeaChange International, Inc.) Announces Preliminary Tender Offer Results

Jul -26

Source: globenewswire.com

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Tiber Ventures, Inc. (fka SeaChange International, Inc.) Updates Tender Offer Expiration Date

Jul -11

Source: globenewswire.com

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Tiber Ventures, Inc. (fka SeaChange International, Inc.) Announces Tender Offer for up to $6.2mm of Shares of its Common Stock

Jun -10

Source: globenewswire.com

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SeaChange Completes Sale of Substantially All of its Assets to Enghouse

May -09

Source: globenewswire.com

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SeaChange Announces an Agreement to be Acquired by Enghouse and Termination of Previously Announced Proposed Acquisition by Partner One

Apr -24

Source:

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (10.42%)

6. Segments

Maintenance and Support

Expected Growth: 9.9%

SeaChange International's 9.9% growth in Maintenance and Support is driven by increasing demand for cloud-based video delivery, expansion of existing customer relationships, and a growing need for premium technical support services. Additionally, the company's strategic partnerships and investments in AI-powered video analytics have enhanced its maintenance and support offerings, attracting new customers and driving revenue growth.

License and Subscription

Expected Growth: 10.98%

SeaChange International's 10.98% growth in License and Subscription is driven by increasing demand for cloud-based video delivery, expansion into new markets, and strategic partnerships. The company's focus on providing scalable and flexible solutions for OTT and streaming services has resonated with customers, leading to higher subscription rates and new license agreements.

Professional Services and Other

Expected Growth: 10.42%

SeaChange International's 10.42% growth in Professional Services and Other is driven by increasing demand for cloud-based video delivery and advertising solutions, expansion into new markets, and strategic partnerships. Additionally, the company's focus on providing end-to-end services, including content management and analytics, has contributed to the growth.

Hardware

Expected Growth: 10.47%

SeaChange International's 10.47% growth in Hardware segment is driven by increasing demand for video delivery and storage solutions, expansion into new markets, and strategic partnerships. The company's focus on cloud-based and 5G-enabled infrastructure, as well as its investments in artificial intelligence and machine learning, are also contributing to its growth momentum.

7. Detailed Products

Content Management System (CMS)

A comprehensive platform for managing and delivering video content across multiple platforms and devices.

Adaptive Bitrate Streaming (ABR)

A technology that dynamically adjusts video quality based on available bandwidth to ensure smooth playback.

Cloud-Based Video Processing

A scalable and on-demand video processing service for transcoding, packaging, and delivering video content.

Content Delivery Network (CDN)

A global network of servers that cache and deliver video content closer to the user, reducing latency and improving playback quality.

Video Analytics and Insights

A platform that provides real-time analytics and insights on video performance, engagement, and audience behavior.

Dynamic Ad Insertion (DAI)

A technology that enables targeted and personalized advertising in live and on-demand video content.

8. SeaChange International, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

SeaChange International, Inc. faces moderate threat from substitutes, as customers have limited alternatives for its video delivery and advertising solutions.

Bargaining Power Of Customers

SeaChange International, Inc. has a high bargaining power of customers, as its customers are large media companies with significant negotiating power.

Bargaining Power Of Suppliers

SeaChange International, Inc. has a low bargaining power of suppliers, as it has multiple suppliers for its hardware and software components.

Threat Of New Entrants

SeaChange International, Inc. faces a moderate threat of new entrants, as the video delivery and advertising solutions market has moderate barriers to entry.

Intensity Of Rivalry

SeaChange International, Inc. operates in a highly competitive market with several established players, leading to a high intensity of rivalry.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 4.30%
Debt Cost 8.58%
Equity Weight 95.70%
Equity Cost 8.58%
WACC 8.58%
Leverage 4.50%

11. Quality Control: SeaChange International, Inc. passed 3 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

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SeaChange International

A-Score: 2.9/10

Value: 9.3

Growth: 2.3

Quality: 3.8

Yield: 0.0

Momentum: 1.5

Volatility: 0.3

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

6.1$

Current Price

6.1$

Potential

-0.00%

Expected Cash-Flows