Welcome to our dedicated page for Tiny news (Ticker: TNYZF), a resource for investors and traders seeking the latest updates and insights on Tiny stock.
Tiny Ltd. (TNYZF) is a Canadian technology-focused holding company that acquires and owns businesses for the long term. Its public news flow provides insight into how the company manages its portfolio across Digital Services, Software and Apps, and Creative Platform segments, as well as how it approaches capital allocation and financing.
News releases from Tiny cover a range of topics, including quarterly financial results, where the company reports on revenue, recurring revenue, EBITDA, adjusted EBITDA, free cash flow, and leverage metrics. These updates often explain the impact of acquisitions and dispositions, such as the acquisition of a majority interest in Serato, described as a global leader in DJ software, and the sale of We Work Remotely.
Investors can also follow announcements about capital markets activities, such as the company’s graduation from the TSX Venture Exchange to the Toronto Stock Exchange, the implementation of a normal course issuer bid for its Class A common shares, and the filing of a short form base shelf prospectus that enables potential offerings of equity and debt securities and related instruments.
Other Tiny news items include early warning reports on beneficial ownership changes by major shareholders, voting results from annual general and special meetings, and details of investor conference calls and webcasts. Together, these disclosures help investors track Tiny’s acquisition strategy, portfolio performance, balance sheet management, and governance decisions over time.
For those following TNYZF, the news stream offers a view into how Tiny applies its founder‑friendly acquisition approach, focuses on recurring or predictable revenue and free cash flow, and oversees its businesses in digital services, software and apps, and creative platforms.
Tiny (TSXV: TINY), a Canadian holding company, has announced an equity grant to its newly appointed CEO, Jordan Taub. The company has granted 469,483 restricted share units (RSUs), subject to acceptance by the TSX Venture Exchange. These RSUs are subject to vesting provisions, with the first third vesting on the first anniversary of the grant date.
This equity grant aligns the new CEO's interests with those of the shareholders and provides an incentive for long-term performance. The vesting schedule encourages retention and commitment to the company's growth over time.
Tiny (TSXV: TINY) reported Q2 2024 financial results with total revenue of $51.0 million, up $2.1 million from Q1 2024. Key highlights include:
- Completed $20.6 million equity raise with Hosking Partners LLP
- Acquired 100% of MediaNet Solutions, an education software business
- Debt repayment of $16.0 million; net debt of $98.7 million at Q2 2024
- Transitioned CEO role to Jordan Taub and appointed new CFO Mike McKenna
- Recurring revenue of $9.6 million, 19% of total revenue
- Cash on hand: $22.4 million; Total debt: $121.1 million
- Net loss: $1.7 million; EBITDA: $4.9 million
The company focuses on strengthening its balance sheet, investing in organic growth, and increasing cost discipline for long-term free cash flow generation.
Tiny (TSXV: TINY), a Canadian technology holding company, has announced it will release its Q2 2024 financial results on Friday, August 16, 2024, before the market opens. The company will host a conference call and webcast on the same day at 8:00 a.m. ET to provide a business update and answer questions.
The call will be led by CEO Jordan Taub and CFO Mike McKenna. Investors can join via phone using the dial-in numbers: (US) 1.833.470.1428 or (Canada) 1.226.828.7575 / 1.833.950.0062, with access code 788533. A live webcast will also be available. An archived telephone replay will be accessible for two weeks after the call.
Tiny (TSXV: TINY) has appointed Mike McKenna as its new Chief Financial Officer, effective immediately. McKenna will oversee finance, accounting, HR, and investor relations, reporting directly to CEO Jordan Taub.
McKenna brings over two decades of experience in corporate finance, having previously served as CFO of LifeSpeak and Mobile Klinik. His notable achievements include leading LifeSpeak through its IPO in 2021 and the sale of Mobile Klinik to TELUS.
McKenna succeeds David Charron, who has served as CFO for three years. As part of the transition, Tiny will issue 157,434 common shares to Charron at $2.14 per share, pending TSX Venture Exchange approval, with a four-month hold period.
Tiny announced the appointment of Jordan Taub as Chief Executive Officer, effective immediately. Taub, previously CEO of WeCommerce, brings extensive experience from Constellation Software and a background in corporate finance. Founders Andrew Wilkinson and Chris Sparling will stay involved as Chairs of the Board, focusing on vision, capital allocation, and long-term strategy. They emphasize Taub's proven leadership and operational expertise, highlighting his role in strategic acquisitions and aligning with Tiny's growth objectives. This leadership transition aims to strengthen operational excellence and drive long-term shareholder value.
Tiny (TSXV: TINY) announced the completion of its acquisition of MediaNet Solutions, an educational software company based in Arizona. MediaNet, founded in 1997, specializes in special education management and offers products like e-IEP PRO, e-ELL PRO, and e-MTSS PRO, serving around 580 districts and agencies in Arizona with a 98% customer retention rate. The acquisition, conducted by Tiny's subsidiary, Tiny Capital (US), was an all-cash transaction. The financial terms were not disclosed, but the deal was classified as an 'Exempt Transaction' under TSX Venture Exchange Policy 5.3.
Tiny (TSXV: TINY), a Canadian holding company, has successfully closed a US$15 million private placement with Hosking Partners LLP. The deal involved issuing 7,667,914 Common shares at C$2.68 per share, generating approximately CAD$20.55 million. The funds will be allocated for acquisitions, working capital, and general corporate purposes. Importantly, no finder's fees or commissions were paid for this transaction. The newly issued shares are subject to a statutory hold period of four months and one day as per applicable securities laws.
Tiny, a Canadian holding company, announced a private placement of up to 7,667,914 common shares at C$2.68 per share, aiming to raise approximately C$20.55 million (US$15 million). The funds will be utilized for acquisitions, working capital, and general corporate purposes. No finder's fees or commissions are involved. Hosking Partners LLP, a London-based investment management company with US$5.5 billion AUM, will be participating. The shares will have a four-month statutory hold period. The private placement is non-brokered and subject to TSX Venture Exchange approval.
Tiny reported Q1 2024 revenue of $48.9 million, a 35% increase from Q1 2023. Recurring revenue rose to $9.3 million, making up 19% of total revenue. EBITDA improved to $3.4 million from a negative $1.1 million in Q1 2023. However, the company recorded a net loss of $8.9 million, up from a $4.1 million loss the previous year, primarily due to depreciation and amortization costs. Cash from operations was $2.9 million, reversing a $1.0 million outflow in Q1 2023. Total debt increased to $135.8 million from $131.2 million, mainly due to investments. Assets slightly decreased to $386.0 million. The acquisition of WholesalePet was completed, and Tiny Fund I is now fully deployed.
Tiny (TSXV: TINY) announced its annual general and special meeting of shareholders will be held on June 20, 2024, at the Fairmont Empress in Victoria, B.C.
Key matters to be discussed include the approval of consolidated financial statements for the year ending December 31, 2023, setting the number of directors at 5, re-electing current directors Andrew Wilkinson, Chris Sparling, Tim McElvaine, Carla Matheson, and Shane Parrish, re-appointing KPMG LLP as auditors, and ratifying the 10% rolling omnibus equity incentive plan.
More details are available in the management information circular on the company's profile page at www.sedarplus.ca and on Tiny's website.