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. reports news as a Canadian technology holding company that acquires and holds businesses for the long term. Company updates center on financial results, business updates, annual meeting matters, investor engagement sessions, and capital-allocation actions across its portfolio.
Tiny’s recurring business disclosures describe three principal reporting segments: Digital Services; Software and Apps, including Serato and WeCommerce; and Creative Platform, including Dribbble and Creative Market. News also covers portfolio acquisitions and dispositions, share consolidation and exchange-listing changes, normal course issuer bid activity, shelf prospectus filings, leverage commentary, recurring revenue, free cash flow, and parent-level operating initiatives.
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.
Tiny (TSXV: TINY), a Canadian technology holding company, will release its financial results for Q1 2024 on May 28, 2024, prior to market opening. The results will cover the period ending March 31, 2024. Investors and stakeholders are keenly awaiting these results to gauge the company's financial performance and strategic progress.
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