Clps Incorporation Stock Price, News & Analysis

CLPS Incorporation (Nasdaq: CLPS) reported significant growth in its first half of fiscal year 2021, with a 37% increase in revenue compared to the previous year, driven by robust demand for IT services. The company achieved a massive 213.5% rise in operating profit and a 114.9% rise in net income YoY. Looking ahead, CLPS aims for a revenue increase of 30-35% and a non-GAAP net income growth of 60-65% for the full fiscal year. CLPS also plans to expand its global operations and invest in talent development, emphasizing innovative technologies to enhance client services.

CLPS Incorporation (Nasdaq: CLPS) reported impressive first-half fiscal 2021 results, with revenues soaring by 37.0% to $58.3 million, up from $42.6 million a year earlier. Operating income surged by 213.5% to $3.9 million, while net income exploded 114.9% to $4.9 million. The company adjusted its non-GAAP net income guidance for fiscal 2021 upwards to 60%-65% from 32%-37%.

The growth was driven by increased demand in IT consulting services, which represented 97.8% of total revenue. CLPS is optimistic about continuing this momentum.

CLPS Incorporation (Nasdaq: CLPS) announced a securities purchase agreement on February 28, 2021, to offer approximately $16.0 million worth of common stock and warrants. The offering will consist of 2,666,666 shares priced at $6.00 each, with warrants allowing the purchase of an additional 2,666,666 shares at the same price. The transaction is expected to close on or about March 3, 2021. Maxim Group LLC acts as the sole placement agent for this registered direct offering.

CLPS Incorporation (Nasdaq: CLPS) has announced its plans to release the first half of fiscal 2021 financial results on March 5, 2021, prior to market opening. A conference call is scheduled for 8:30 am ET that same day, where management will discuss financial results, business highlights, and company outlook. Interested parties can access the call via telephone or through a live webcast. CLPS focuses on IT consulting solutions for the banking and financial service sectors with a global footprint, including 19 delivery centers.

CLPS Incorporation (Nasdaq: CLPS) announced a vendor agreement with a prominent U.S. digital payment platform through its subsidiary, CLPS Technology Inc. The contract involves IT services such as data analysis and payment risk management, bolstering CLPS's international presence which is vital for growth beyond Mainland China. CEO Matthew Tang emphasized the significance of this partnership after over six years of collaboration, aligning with the company's global strategy to enhance client satisfaction.

CLPS Incorporation (Nasdaq: CLPS) announced a Master Services Agreement with a large U.S. e-commerce platform through its subsidiary, CLPS Technology Inc. The contract, which includes IT services and big data management, reinforces CLPS's long-standing relationship with the Client and marks a significant achievement in its global expansion strategy. The agreement is expected to enhance CLPS's presence in the U.S. market and enable participation in the Client's global R&D centers, demonstrating the Company's commitment as a reliable IT service provider.

CLPS Incorporation (Nasdaq: CLPS) has announced a strategic investment in Shanghai Shier Information Technology Co., Ltd. (SSIT), acquiring a 35% stake through its subsidiary. This investment aims to diversify CLPS's business model by entering the business-to-consumer (B2C) market. SSIT's e-commerce offerings include the 'Group Store' for enterprises and a mobile app, 'Duoshouji.' The partnership is expected to integrate financial products, enhancing user engagement among over 100,000 registered users. CLPS's COO expressed optimism about the potential for improved financials and competitive advantage.

CLPS Incorporation (Nasdaq: CLPS) released a letter to shareholders celebrating its 15th anniversary and reflecting on a challenging yet successful 2020. The company achieved a 37.7% revenue increase to $89.4 million and reported a net income of $2.9 million, a turnaround from the previous year's loss. Strong client base growth in financial services and IT, alongside strategic mergers, positioned CLPS for continued expansion. The company plans to invest in technology to meet rising demand for IT services in 2021.

CLPS Incorporation (Nasdaq: CLPS) has acquired the remaining 20% stake in Ridik Pte. Ltd., making it a wholly owned subsidiary. This follows a previous 80% acquisition in September 2019. The acquisition aims to enhance CLPS's growth in the Southeast Asian market, which reported a 191.8% revenue increase to $7.37 million for the year ending June 30, 2020. CLPS plans to establish Singapore as its Southeast Asia headquarters to facilitate market expansion and leverage Ridik's capabilities for better overseas financial performance.