Minim Inc Stock Price, News & Analysis

Minim, Inc. (NASDAQ: MINM) priced an underwritten public offering of 10 million shares at $2.50 each, raising approximately $22.7 million after expenses. A 30-day option allows underwriters to purchase an additional 1.5 million shares. The offering is set to close around August 2, 2021, pending customary conditions. Funds from the offering will support general corporate needs, including product development and market expansion. The SEC approved the registration statement on July 28, 2021.

Minim, Inc. (NASDAQ: MINM) announced a proposed public offering of $25 million, with an additional 30-day over-allotment option of $3.75 million for underwriters. The company plans to utilize the proceeds for general corporate purposes, including inventory optimization and expanding product offerings internationally. The registration statement was filed with the SEC on July 26, 2021, but is yet to become effective, meaning no sales can occur until then. B. Riley Securities is the book-running manager for this offering.

Minim, Inc. (NASDAQ: MINM) announced strong preliminary financial results for Q2 2021, reporting a consolidated revenue of approximately $14.75 million, a 43% increase year-over-year from $10.3 million in Q2 2020. The gross margin improved to approximately 30%, an increase of over 900 basis points from the previous year. Despite achieving these milestones, the company recorded a net loss of $1.5 million, consistent with Q2 2020. Notably, deferred revenue surged nearly 300% quarter-over-quarter, driven by the evolving software subscription business model.

Minim, Inc. (NASDAQ: MINM) recently announced the award of a patent for a cloud-driven approach to mesh network setup. This simplifies the onboarding process for connected devices in smart homes, enhancing user experience and reducing costs. The average U.S. household has 25 connected devices, highlighting the need for efficient management. Additionally, a pending patent aims to enhance device security through behavior analysis and anomaly detection. These innovations aim to improve connectivity and security in homes while minimizing complexity for users.

Minim, Inc. (OTCQB: MINM) announced the promotion of Nicole Zheng to President and CMO, effective June 30, 2021. Zheng, a founding team member, will enhance her leadership role while continuing her marketing responsibilities. Under her strategy, Minim has experienced three consecutive quarters of record revenue growth, forging partnerships with over 100 ISPs and achieving significant sales increases on Amazon. The management team expresses strong support for her leadership, anticipating continued innovation and global expansion.

Minim, Inc. (OTCQB: MINM) announced that its common stock will be listed on The Nasdaq Capital Market, with trading set to begin on July 7, 2021. This milestone is expected to enhance shareholder value by improving visibility and trading liquidity, according to CEO Gray Chynoweth. The company focuses on innovative internet access products under the Motorola brand, delivering smart, software-driven communication solutions. The forward-looking statements in the press release highlight various risks related to production, supply chains, and market conditions.

Minim, Inc. (OTCQB: MINM) announced a partnership with Vox to utilize Minim's AI-driven software for managing and securing Wi-Fi networks with MikroTik routers. The Vox Wi-Fi Home Manager app will provide subscribers with enhanced network visibility, threat detection, and device management, starting with MikroTik hAP AC² routers. Vox aims to serve 400,000 Fiber to the Home subscribers, enhancing its position in South Africa's broadband market. The solution promises cost savings and improved customer service for Vox, integrating seamlessly with existing infrastructure.

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Minim (OTCQB: MINM) will present at the Summer Solstice Best Ideas Conference, hosted by MicroCap Rodeo, on June 1, 2021, at 4:30 PM ET. The event is free and open to all registrants, featuring Minim's CEO Gray Chynoweth and CFO Sean Doherty. Key topics include record revenue growth in Q1 2021, the application for NASDAQ uplisting under the ticker MINM, and new product innovations. Investors are encouraged to pre-register for the event to receive updates and ensure a smooth participation experience.