Welcome to our dedicated page for Safeguard Scientifics news (Ticker: SFE), a resource for investors and traders seeking the latest updates and insights on Safeguard Scientifics stock.
Safeguard Scientifics, Inc. (NYSE: SFE) is a notable investment firm that provides vital capital and expertise to foster the growth of technology-driven businesses in the healthcare, financial services, and digital media sectors. With over six decades of experience, Safeguard targets companies that leverage transformative technologies, focusing extensively on the Internet of Everything, enhanced security, and artificial intelligence, including predictive analytics and machine learning.
Safeguard typically invests between $5 million and $25 million, initially through Series A or B funding rounds, and occasionally through seed rounds. Their investment strategy and hands-on approach have successfully nurtured numerous market leaders.
Currently, Safeguard is undertaking a strategic shift aimed at maximizing and monetizing its ownership interests over a multi-year period to boost shareholder value. This involves a plan to streamline operations and reduce ongoing costs. Despite recent disappointments in strategic transactions, the company is committed to returning excess cash to shareholders and ensuring an organized exit for remaining portfolio companies.
Recent Achievements:
- Successful recapitalization of Trice Medical, retaining a small subordinated debt position.
- Consistent efforts to reduce corporate expenses and enhance operational efficiencies.
Safeguard’s upcoming financial results for the third quarter of 2023 will be released on November 2, 2023, followed by a conference call and webcast. This event aims to provide stakeholders with in-depth updates on the company's financial health and strategic initiatives.
For more information, investors can visit the company's official website or contact their investor relations department.
Safeguard Scientifics announced a $6 million share repurchase program, aiming to enhance shareholder value. For Q1 2021, net income reached $17.6 million ($0.84/share), a significant turnaround from a net loss of $16 million last year. Notably, Safeguard exited from several ventures, totaling $9.5 million in cash proceeds, including $3.3 million from Zipnosis. The company’s cash reserves are at $21.8 million. However, revenues for its remaining companies fell 8% year-over-year to $321 million. The targeted liquidity threshold has been lowered to $18 million, indicating a cautious approach ahead.
Safeguard Scientifics (NYSE:SFE) will announce its Q1 2021 financial results on May 6, 2021, after market closure. The results will be discussed in a conference call at 5:00 PM ET on the same day, featuring CEO Eric C. Salzman and CFO Mark A. Herndon. Investors can listen via a live webcast or by calling in. The replay will be accessible until June 7, 2021. Safeguard is committed to maximizing shareholder value through its focused strategy on technology-driven businesses.
Safeguard Scientifics, Inc. (NYSE:SFE) announced the divestiture of its ownership interest in Zipnosis for $3.3 million in initial cash and a preferred equity stake in Bright Health Group. The transaction reflects Safeguard's strategic focus on maximizing shareholder value through monetization. It signifies a gain for Safeguard for the quarter ended March 31, 2021. Since December 2015, Safeguard invested a total of $10 million into Zipnosis. CEO Eric Salzman expressed optimism about Bright Health's potential and congratulated Zipnosis on its milestone achievement.
Safeguard Scientifics, Inc. (NYSE:SFE) reported financial results for Q4 and the year ending December 31, 2020. Annual sales proceeds were $7.9 million, primarily from the sale of Sonobi. The company deployed $9.2 million in 2020, with no deployments in Q4. Safeguard's net loss was $37.6 million for the year, compared to a net income of $54.6 million in 2019. Cash and equivalents totaled $15.6 million. The firm anticipates follow-on deployments to range between $5 to $7 million in 2021, aiming to reduce corporate expenses to $4.4 to $4.9 million.
Safeguard Scientifics, Inc. (NYSE:SFE) will announce its financial results for the fourth quarter and full year ended December 31, 2020, on March 4, 2021, before the market opens. A conference call will follow at 9:00 am ET, featuring CEO Eric C. Salzman and CFO Mark A. Herndon.
Replay options will be available until April 4, 2021. Safeguard is focused on maximizing and monetizing its ownership interests to enhance shareholder value.
Safeguard Scientifics (NYSE: SFE) will host a virtual discussion with Sundeep Bhan, CEO of Prognos Health, on February 23, 2021, at 10:00 a.m. ET. The event will focus on Safeguard's investment in Prognos, which has received a total of $12.6 million in funding since its initial capital injection in 2011, representing a 28% ownership interest. Participants are encouraged to register early to join the discussion live or access it later via the Investor Relations website. For more information on the past events and investment strategies, visit Safeguard's website.
Safeguard Scientifics (NYSE:SFE) has appointed Eric C. Salzman as Chief Executive Officer, effective December 21, 2020. Previously serving as the Chief Restructuring Officer, Salzman aims to maximize the value of the company's portfolio. His extensive experience includes managing a $2 billion asset portfolio during the Lehman Brothers bankruptcy. Robert J. Rosenthal, Chairman of the Board, highlighted Salzman's achievements in driving value creation. Dr. Rosenthal returns to his role as Chairman of the Board.
Safeguard Scientifics (SFE) reported its Q3 2020 results, showing a net loss of $4.3 million ($0.21 per share), compared to a loss of $2.5 million in Q3 2019. The company's cash and cash equivalents stood at $16.4 million, with ownership interests valued at $55.8 million against a total cost of $225.2 million. Notably, Safeguard generated $6.6 million from the acquisition of Sonobi and deployed $2.5 million to Aktana. The firm has narrowed its full-year deployment forecast to $9-$10 million and reduced corporate expense expectations to below $5.6 million.
Safeguard Scientifics (NYSE:SFE) will host a virtual discussion on November 10, 2020, at 10 a.m. with Aktana's CEO, David Ehrlich, led by Safeguard's Managing Director, Dr. Gary Kurtzman. The conversation will focus on Aktana's AI-driven customer engagement platform for life sciences. Safeguard has invested $14.2 million in Aktana since 2016, holding a 15% ownership stake. The event will be streamed live and available for replay on Safeguard's Investor Relations website.
Safeguard Scientifics (NYSE:SFE) will announce its third quarter financial results for the period ending September 30, 2020, on November 5, 2020, before market opening. The company invites stakeholders to participate in a conference call at 9:00 am ET, which will include a discussion of financial outcomes followed by a Q&A session. Key speakers include Dr. Robert J. Rosenthal, Eric C. Salzman, and Mark A. Herndon. Stakeholders can access the webcast via the company's events page. A replay will be available until December 5, 2020.
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