BCOR - BCOR STOCK NEWS

Blucora, Inc. (NASDAQ: BCOR) responded to Engine Capital LP's director nominations for the 2022 annual meeting, emphasizing ongoing dialogue with shareholders regarding governance and strategy. Engine's recent engagement and nominations were perceived by Blucora as lacking substantive input, while concerns were raised about discrepancies in Engine's principal's statements regarding prior discussions. Blucora remains open to evaluating Engine’s nominees and is pleased with the momentum in its wealth management and tax software sectors, leading to an expansion in share repurchase authorization and improved financial guidance.

Blucora, Inc. (NASDAQ: BCOR) will announce its fourth quarter and full year 2021 financial results on February 16, 2022, before market open. A conference call for investors is scheduled for that day at 8:30 a.m. ET, where the company will discuss financial results, outlook, and other business matters. Blucora operates in wealth management and tax software, holding $87 billion in client assets and servicing approximately 3 million consumers through its TaxAct platform in 2021. For more information, visit Blucora.

Blucora (NASDAQ: BCOR) reported a strong performance in 2021, achieving total revenue of $862 million, a 15% increase year-over-year. The company noted significant profit growth with a net income improvement of over $250 million and a 57% growth in adjusted EBITDA to $145 million. Avantax's total client assets grew to $87 billion, and TaxAct served over 5.5 million consumers. Blucora raised its full-year 2021 guidance and authorized a $100 million share buyback, highlighting a positive outlook for 2022 amid ongoing strategic execution.

On January 5, 2022, TaxAct announced free, unlimited access to CPAs and tax experts for all DIY filers through its Xpert Assist service. This initiative aims to assist users with complex tax situations, particularly amidst recent tax law changes. Starting late January, TaxAct will launch Xpert Full Service, allowing filers to have their returns completed by professionals. TaxAct reinforces its commitment to helping customers maximize their refunds with a $100k Accuracy Guarantee while providing services tailored to various tax situations.

Blucora (NASDAQ: BCOR) announced an expanded stock repurchase program, authorizing an additional $28.3 million for share buybacks, totaling $100 million. This move reflects the company's strong financial position and commitment to enhancing shareholder value, according to CEO Chris Walters. As of now, Blucora has repurchased 1,305,807 shares for $28.3 million. The company plans to use various methods for future purchases based on market conditions. This strategy aims to return capital to shareholders while reducing the number of outstanding shares.

Blucora, Inc. (NASDAQ: BCOR) reported a GAAP net loss of $27.8 million for Q3 2021, reflecting a loss of $(0.57) per diluted share. Total revenue decreased by 1% year-over-year to $174.2 million, with wealth management revenue rising 24% to $169.1 million, while tax software revenue fell significantly by 87% to $5 million. Client assets rose 14% year-over-year to $86.6 billion. The company forecasts tax software segment revenue growth of 14% to 18% for 2022 and operating income reaching an all-time high between $98 million and $106 million.

Blucora, Inc. (NASDAQ: BCOR) will announce its Q3 2021 financial results on November 4, 2021, before market open. A conference call is scheduled for 8:30 a.m. ET to discuss these results and the company's outlook. Blucora offers data-driven tax software and wealth management solutions, managing $88 billion in client assets as of June 30, 2021, and serves approximately 3 million consumers and 24,500 professionals. The call will be available via the Investor Relations section of the Blucora website.

Ancora Holdings, a significant stockholder of Blucora (NASDAQ: BCOR), has issued an open letter to the Board expressing concern over the approximately 15% decline in stock value since its Investor Day. Ancora believes that Blucora's combination of wealth management and tax software lacks perceived synergies, leading to investor dissatisfaction. Despite positive earnings revisions, Blucora's valuation multiples are notably lower than its peers, suggesting a missed opportunity for value creation. Ancora urges the Board to explore strategic alternatives for TaxAct to enhance shareholder value.

Blucora (NASDAQ: BCOR) reported a strong second quarter for 2021, with total revenues of $254.3 million, a 58% increase from Q2 2020. GAAP net income reached $31.6 million or $0.64 per diluted share, while non-GAAP net income soared to $63.1 million, translating to $1.28 per diluted share. Client assets surged 28% year-over-year to $87.8 billion, aided by a 49% rise in advisory assets. Looking ahead, the company anticipates total revenue between $855.0 million and $876.0 million for the full year.