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iMedia Brands, Inc. (IMBI) is a leading interactive media company that specializes in multiplatform media and interactive commerce. The company, renowned for its customer-centric approach, operates a variety of television networks and digital platforms that sell consumer products to customers globally.
Core Business and Operations
iMedia Brands is primarily involved in the production and distribution of engaging television content that integrates direct-to-consumer sales. Their operations span across TV networks such as ShopHQ, a live 24/7 shopping network, and other specialty channels. They also manage several e-commerce platforms, enhancing their reach beyond televised content.
Recent Achievements and Projects
Recently, the company has expanded its product offerings and improved its customer engagement strategies. By integrating advanced analytics and AI-driven recommendations, iMedia Brands has optimized its sales and marketing efforts to cater to individual customer preferences. The company has also launched initiatives to increase its content production capabilities, ensuring a steady flow of fresh and appealing content for its audience.
Financial Condition
iMedia Brands has demonstrated resilience and growth in its financial performance. Their strategic focus on optimizing operational efficiencies and expanding revenue streams has resulted in improved margins and profitability. The company continues to invest in infrastructure and technology, emphasizing long-term financial stability and growth.
Partnerships and Collaborations
Partnerships play a crucial role in iMedia Brands' success. The company collaborates with a diverse range of brands and suppliers, enabling them to offer a wide variety of products. They have also formed alliances with media and technology companies to enhance their content delivery and customer engagement capabilities.
Products and Services
iMedia Brands offers an extensive line of consumer products, including fashion, beauty, wellness, home goods, and more. Their platforms provide a seamless shopping experience, combining entertainment with convenience. The company's dedication to quality and customer satisfaction has earned them a loyal customer base.
With their headquarters in Eden Prairie, Minnesota, iMedia Brands continues to innovate and expand, driving growth through strategic initiatives and customer-focused solutions.
iMedia Brands, Inc. (NASDAQ: IMBI) is hosting a Capital Markets Day on February 7, 2022, in Eden Prairie, MN, to engage with investors. CEO Tim Peterman will address the company's growth strategy, highlighting a forecasted 20% revenue growth and positive EPS in the latter half of 2022. The event aims to elaborate on how data drives their retail media platform and the company’s three-year revenue and profitability targets.
iMedia Brands, Inc. (IMBI) reported robust Q3 2021 results, with net sales reaching $130.7 million, up 20% year-over-year, marking its highest quarterly growth in over a decade.
Year-to-date sales totaled $357.3 million (up 8%). Gross margin improved to 41.6%, while adjusted EBITDA increased 57% to $10.1 million.
Despite a net loss of $(9.5) million, driven by one-time costs from acquisitions, the company remains optimistic, projecting Q4 revenue between $175 million and $180 million.
iMedia Brands, Inc. (NASDAQ: IMBI) has completed its acquisition of 123tv for an enterprise value of $93 million, effective November 5, 2021. This strategic move aims to enhance IMBI's foothold in the television retail market, particularly in Germany and Austria, where 123tv operates across 40 million households. The purchase includes a cash payment of approximately $72 million and a $21 million seller's note, with potential earn-outs of up to $50 million based on future revenue performance. IMBI has raised its 2021 revenue guidance to approximately $540 million, reflecting a 19% growth compared to the previous year.
iMedia Brands, Inc. (NASDAQ: IMBI) will host a conference call on November 17, 2021, at 8:30 a.m. ET to discuss Q3 financial results for the period ending October 30, 2021. CEO Tim Peterman and CFO Monty Wageman will lead the discussion followed by a Q&A session. Investors can join via toll-free and international dial-in numbers provided. The call will be streamed live and will be available for replay after 11:30 a.m. ET on the same day through December 1, 2021. iMedia Brands specializes in interactive media, ecommerce, and advertising.
iMedia Brands has announced the pricing of an underwritten public offering of $75 million in aggregate principal amount of 8.50% senior notes due 2026. The offering, expected to close on September 28, 2021, includes a 30-day option for underwriters to purchase up to an additional $5 million. The proceeds will primarily fund the acquisition of 1-2-3.tv Group and general corporate purposes. The notes will pay interest quarterly, starting December 31, 2021, and are rated BB by Egan-Jones Ratings.
iMedia Brands (NASDAQ: IMBI) announced a public offering of $75 million in senior notes, due 2026, with an expected interest rate of 8.50%. The offering is contingent on market conditions. Additionally, underwriters may purchase an extra $5 million in notes. Proceeds will fund the acquisition of 1-2-3.tv Group and support working capital. The notes aim for listing on Nasdaq under the symbol IMBIL. They received a BB rating from Egan-Jones Ratings. Final offering terms will be outlined in a subsequent prospectus.
iMedia Brands, Inc. (IMBI) has announced the acquisition of 123tv for an enterprise value of $95 million, with a potential earn-out of $50 million based on revenue targets. This transaction is expected to close in Q4 2021, pending regulatory approvals in Germany and Austria. 123tv is a leading interactive media company in Germany, operating 24/7 across various platforms and engaging over 40 million households. The acquisition aims to leverage 123tv's innovative shopping engagement model to disrupt the digital shopping marketplace.
GreenLake Asset Management LLC has provided a $28.5 million first mortgage loan to iMedia Brands, Inc. (Nasdaq: IMBI). This loan secures iMedia's real estate assets, including its headquarters and production facilities in Eden Prairie, MN, and Bowling Green, KY. The funding aims to enhance liquidity and flexibility for iMedia's growth strategies, as it refinances an existing facility. Additionally, a revolving credit facility secured by inventory and accounts receivable was completed concurrently. The transaction was complex and time-sensitive, driven by a pending acquisition.
iMedia Brands (IMBI) reported Q2 results for the period ended July 31, 2021, revealing a net sales decline of 9% to $113.4 million, affected by inventory delays due to supply chain issues. Despite this, 12-month active customers grew 9%, driven by a 40% increase in new customers. The company launched 66 new merchandise brands, marking a 65% increase year-over-year. Gross margin improved to 42.3%, up 510 basis points. iMedia's net loss decreased to $4.2 million, while year-to-date adjusted EBITDA surged 80% to $16.4 million. Future guidance anticipates $502 million in net sales for 2021.
iMedia Brands, Inc. (NASDAQ: IMBI) will host a conference call on August 24, 2021, at 8:30 a.m. Eastern Time to discuss its Q2 financial results for the period ending July 31, 2021. CEO Tim Peterman will lead the call, which will include a Q&A session. Participants can dial in 5-10 minutes early using the provided toll-free and international numbers. The call will also be available for live streaming and replay. iMedia Brands specializes in interactive media with a portfolio of lifestyle television networks and consumer brands.
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