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Cryptologic

CNSX:CRY
Snowflake Description

Mediocre balance sheet and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CRY
CNSX
CA$22M
Market Cap
  1. Home
  2. CA
  3. Software
Company description

Cryptologic Corp. operates as a crypto currency miner and software development company in Québec, Canada. The last earnings update was 21 days ago. More info.


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CRY Share Price and Events
7 Day Returns
-2.9%
CNSX:CRY
2%
CA Software
1.6%
CA Market
1 Year Returns
-59.5%
CNSX:CRY
15.6%
CA Software
-0.3%
CA Market
CRY Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Cryptologic (CRY) -2.9% 9.7% -15% -59.5% -62.2% -97%
CA Software 2% 2.5% 1.7% 15.6% 74.3% 159.8%
CA Market 1.6% 4.1% 1.1% -0.3% 8.6% 4.1%
1 Year Return vs Industry and Market
  • CRY underperformed the Software industry which returned 15.6% over the past year.
  • CRY underperformed the Market in Canada which returned -0.3% over the past year.
Price Volatility
CRY
Industry
5yr Volatility vs Market

Value

 Is Cryptologic undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Cryptologic to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Cryptologic.

CNSX:CRY Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 13.9%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.9%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for CNSX:CRY
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.9%
Equity Risk Premium S&P Global 6%
Software Unlevered Beta Simply Wall St/ S&P Global 1.12
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.117 (1 + (1- 26.5%) (167.39%))
2
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (2 * 5.96%)
13.87%

Discounted Cash Flow Calculation for CNSX:CRY using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Cryptologic is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

CNSX:CRY DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CAD, Millions) Source Present Value
Discounted (@ 13.87%)
2020 9.17 Est @ 70.5% 8.05
2021 13.74 Est @ 49.93% 10.60
2022 18.63 Est @ 35.54% 12.62
2023 23.37 Est @ 25.46% 13.90
2024 27.67 Est @ 18.41% 14.46
2025 31.40 Est @ 13.47% 14.40
2026 34.54 Est @ 10.01% 13.92
2027 37.16 Est @ 7.59% 13.15
2028 39.35 Est @ 5.9% 12.23
2029 41.21 Est @ 4.71% 11.25
Present value of next 10 years cash flows CA$124.00
CNSX:CRY DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CA$41.21 × (1 + 1.95%) ÷ (13.87% – 1.95%)
CA$352.47
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CA$352.47 ÷ (1 + 13.87%)10
CA$96.20
CNSX:CRY Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CA$124.00 + CA$96.20
CA$220.20
Equity Value per Share
(CAD)
= Total value / Shares Outstanding
= CA$220.20 / 12.72
CA$17.31
CNSX:CRY Discount to Share Price
Calculation Result
Value per share (CAD) From above. CA$17.31
Current discount Discount to share price of CA$1.70
= -1 x (CA$1.70 - CA$17.31) / CA$17.31
90.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Cryptologic is available for.
Intrinsic value
>50%
Share price is CA$1.7 vs Future cash flow value of CA$17.31
Current Discount Checks
For Cryptologic to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Cryptologic's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Cryptologic's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Cryptologic's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Cryptologic's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
CNSX:CRY PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in CAD CA$-2.27
CNSX:CRY Share Price ** CNSX (2019-09-18) in CAD CA$1.7
Canada Software Industry PE Ratio Median Figure of 17 Publicly-Listed Software Companies 26.47x
Canada Market PE Ratio Median Figure of 540 Publicly-Listed Companies 14.21x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Cryptologic.

CNSX:CRY PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= CNSX:CRY Share Price ÷ EPS (both in CAD)

= 1.7 ÷ -2.27

-0.75x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Cryptologic is loss making, we can't compare its value to the CA Software industry average.
  • Cryptologic is loss making, we can't compare the value of its earnings to the Canada market.
Price based on expected Growth
Does Cryptologic's expected growth come at a high price?
Raw Data
CNSX:CRY PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -0.75x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Canada Software Industry PEG Ratio Median Figure of 8 Publicly-Listed Software Companies 2.81x
Canada Market PEG Ratio Median Figure of 246 Publicly-Listed Companies 0.96x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Cryptologic, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Cryptologic's assets?
Raw Data
CNSX:CRY PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in CAD CA$-0.96
CNSX:CRY Share Price * CNSX (2019-09-18) in CAD CA$1.7
Canada Software Industry PB Ratio Median Figure of 88 Publicly-Listed Software Companies 2.92x
Canada Market PB Ratio Median Figure of 2,455 Publicly-Listed Companies 1.45x
CNSX:CRY PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= CNSX:CRY Share Price ÷ Book Value per Share (both in CAD)

= 1.7 ÷ -0.96

-1.76x

* Primary Listing of Cryptologic.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Cryptologic has negative assets, we can't compare the value of its assets to the CA Software industry average.
X
Value checks
We assess Cryptologic's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Software industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Software industry average (and greater than 0)? (1 check)
  5. Cryptologic has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Cryptologic expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Cryptologic has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
9.3%
Expected Software industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Cryptologic expected to grow at an attractive rate?
  • Unable to compare Cryptologic's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Cryptologic's earnings growth to the Canada market average as no estimate data is available.
  • Unable to compare Cryptologic's revenue growth to the Canada market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
CNSX:CRY Future Growth Rates Data Sources
Data Point Source Value (per year)
Canada Software Industry Earnings Growth Rate Market Cap Weighted Average 9.3%
Canada Software Industry Revenue Growth Rate Market Cap Weighted Average 15.3%
Canada Market Earnings Growth Rate Market Cap Weighted Average 12.8%
Canada Market Revenue Growth Rate Market Cap Weighted Average 5.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
CNSX:CRY Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
CNSX:CRY Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-06-30 30 6 -23
2019-03-31 23 -5 -77
2018-12-31 18 -6 -74
2018-09-30 11 -9 -56
2018-06-30 3 -6 -53
2018-03-31 -1 -1
2017-12-31 -1 -2
2017-09-30 -2 -1
2017-06-30 -3 -1
2017-03-31 -4 -1
2016-12-31 -5 -1
2016-09-30 0 -6 8

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Cryptologic is high growth as no earnings estimate data is available.
  • Unable to determine if Cryptologic is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
CNSX:CRY Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Cryptologic Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

CNSX:CRY Past Financials Data
Date (Data in CAD Millions) EPS *
2019-06-30 -2.27
2019-03-31 -9.62
2018-12-31 -12.42
2018-09-30 -11.74
2018-06-30 -13.52
2018-03-31 -0.33
2017-12-31 -0.61
2017-09-30 -0.47
2017-06-30 -0.50
2017-03-31 -0.64
2016-12-31 -0.46
2016-09-30 4.68

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Cryptologic will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Take a look at our analysis of CRY’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.
  2. Cryptologic's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Software companies here
  3. Cryptologic's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Cryptologic's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Cryptologic has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Cryptologic performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Cryptologic's growth in the last year to its industry (Software).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Cryptologic does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Cryptologic's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Cryptologic's 1-year growth to the CA Software industry average as it is not currently profitable.
Earnings and Revenue History
Cryptologic's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Cryptologic Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

CNSX:CRY Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 30.23 -22.64 5.80
2019-03-31 23.42 -77.22 6.31
2018-12-31 18.08 -74.25 5.85
2018-09-30 10.94 -55.85 3.70
2018-06-30 2.71 -52.62 2.03
2018-03-31 -1.08 1.12
2017-12-31 -1.68 1.75
2017-09-30 -1.11 1.30
2017-06-30 -1.10 1.30
2017-03-31 -1.27 1.32
2016-12-31 -0.82 0.88
2016-09-30 -0.06 7.60 -4.56 -2.65
2016-06-30 -0.03 5.17 -3.40 -1.66
2016-03-31 -0.01 2.66 -1.83 -0.81
2015-12-31 -0.80 0.87
2015-09-30 0.07 -11.30 7.79 3.13
2015-06-30 0.06 -11.18 7.72 2.41
2015-03-31 0.11 -10.36 7.23 1.99
2014-12-31 0.22 -8.98 6.26 1.33
2014-09-30 0.33 -7.07 4.96 0.77
2014-06-30 0.32 -4.80 3.88 0.51
2014-03-31 0.27 -3.08 2.83 0.16
2013-12-31 0.16 -1.05 0.90 0.24
2012-12-31 0.03 -1.78 1.00 0.89

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Cryptologic has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) due to its liabilities exceeding its assets.
  • It is difficult to establish if Cryptologic has efficiently used its assets last year compared to the CA Software industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Cryptologic improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Cryptologic's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Software industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Cryptologic has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Cryptologic's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Cryptologic's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Cryptologic is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Cryptologic's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Cryptologic's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Cryptologic has negative shareholder equity (liabilities exceed assets) therefore debt is not covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Cryptologic Company Filings, last reported 2 months ago.

CNSX:CRY Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 -12.26 29.79 4.43
2019-03-31 -14.81 29.18 0.93
2018-12-31 -11.74 27.51 1.17
2018-09-30 17.55 39.86 2.13
2018-06-30 20.38 39.25 5.44
2018-03-31 12.86 0.00 12.88
2017-12-31 12.61 0.00 12.80
2017-09-30 6.84 0.00 6.92
2017-06-30 6.92 0.00 6.97
2017-03-31 6.99 0.00 7.57
2016-12-31 7.61 0.00 7.91
2016-09-30 5.21 0.00 5.66
2016-06-30 6.54 0.00 7.18
2016-03-31 8.49 0.00 8.43
2015-12-31 10.59 0.00 10.49
2015-09-30 12.37 0.00 12.06
2015-06-30 14.25 0.00 14.07
2015-03-31 3.45 0.00 4.62
2014-12-31 6.14 0.00 6.52
2014-09-30 7.69 0.00 8.20
2014-06-30 1.47 0.00 7.69
2014-03-31 1.91 0.23 1.99
2013-12-31 -0.63 0.42 0.09
2012-12-31 -0.07 0.00 0.13
  • Cryptologic has negative shareholder equity (liabilities exceed assets), this is a more serious situation compared with a high debt level.
  • Irrelevant to check if Cryptologic's debt level has increased considering it has negative shareholder equity.
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making Cryptologic has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Cryptologic has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -27.6% per year.
X
Financial health checks
We assess Cryptologic's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Cryptologic has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Cryptologic's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Cryptologic dividends.
If you bought CA$2,000 of Cryptologic shares you are expected to receive CA$0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Cryptologic's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Cryptologic's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
CNSX:CRY Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
North America Software Industry Average Dividend Yield Market Cap Weighted Average of 26 Stocks 1.4%
Canada Market Average Dividend Yield Market Cap Weighted Average of 334 Stocks 3.5%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.2%
Canada Bottom 25% Dividend Yield 25th Percentile 2%
Canada Top 25% Dividend Yield 75th Percentile 5.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Cryptologic has not reported any payouts.
  • Unable to verify if Cryptologic's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Cryptologic's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Cryptologic has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Cryptologic's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Cryptologic afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Cryptologic has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Cryptologic's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
John FitzGerald
COMPENSATION CA$318,049
AGE 50
TENURE AS CEO 1.5 years
CEO Bio

Mr. John Kennedy FitzGerald serves as Chief Executive Officer at Cryptologic Corp. (formerly known as Vogogo Inc.). and served as its President and Director since March 29, 2018. Mr. FitzGerald served as Chief Executive Officer and President of The Intertain Group Limited. Mr. FitzGerald served as the Chief Executive Officer and President at Aumento Capital II Corporation since February 2014. He served as the Chief Executive Officer, President, Chief Financial Officer and Corporate Secretary of PRO Real Estate Investment Trust (formerly, Taggart Capital Corp.) until January 29, 2013. He ran FitzGerald Professional Corporation (FPC), which he founded in 2005, and manages legal portfolios for several international internet-based companies. He served as General Counsel and Compliance Officer of CryptoLogic Limited (also known as CryptoLogic Inc.) since May 1, 2003. He was responsible for corporate governance and compliance as CryptoLogic Inc. He became involved in online gaming industry in 2002. Prior to joining CryptoLogic, he served as Chief Operating Officer and General Counsel at Ball Brewing Company Limited from 2001 to 2002, where he led the acquisition of one of Canada’s largest microbrewers. In 1998, he began his legal career with the law firm Fasken Campbell Godfrey (now Fasken Martineau), focusing primarily on mergers and acquisitions and public finance. Mr. FitzGerald served as an Executive Director of The Intertain Group Limited from February 11, 2014 to June 28, 2016. He served as a Director of Gaming Nation Inc until March 14, 2016. He served as a Director of Aumento Capital II Corporation since February 2014. He served as a Director of Oceanside Capital Corp. since June 2015. He served as a Director of PRO Real Estate Investment Trust (formerly, Taggart Capital Corp.) until January 29, 2013. In 1998 while at Fasken Martineau, he was seconded as an Assistant to the General Counsel of Securities Commission at the Ontario Securities Commission. He serves as Chief Executive Officer and Director of The Interactive Gaming Council (IGC), a non-profit trade association. He serves as a Member of the Law Society of Upper Canada. Mr. FitzGerald holds LLB from The University Of Western Ontario and studied Economics from University of Toronto.

CEO Compensation
  • Insufficient data for John to compare compensation growth.
  • John's remuneration is higher than average for companies of similar size in Canada.
Management Team Tenure

Average tenure of the Cryptologic management team in years:

1.5
Average Tenure
  • The average tenure for the Cryptologic management team is less than 2 years, this suggests a new team.
Management Team

John FitzGerald

TITLE
Chief Executive Officer
COMPENSATION
CA$318K
AGE
50
TENURE
1.5 yrs

Jordan Greenberg

TITLE
Chief Financial Officer
COMPENSATION
CA$225K
TENURE
1.4 yrs

Paul Leggett

TITLE
Chief Operating Officer
COMPENSATION
CA$220K
TENURE
1.3 yrs

Swapan Kakumanu

TITLE
Consultant
COMPENSATION
CA$113K

Karim Teja

TITLE
Consultant
AGE
54
TENURE
3.7 yrs
Board of Directors

Dale Johnson

TITLE
Non-Executive Chairman
COMPENSATION
CA$34K
AGE
74

Luigi DeMichele

TITLE
Director
COMPENSATION
CA$414K
AGE
49
TENURE
3.4 yrs

Tom English

TITLE
Independent Director
COMPENSATION
CA$24K
AGE
45
TENURE
3.4 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
X
Management checks
We assess Cryptologic's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Cryptologic has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Cryptologic Corp. operates as a crypto currency miner and software development company in Québec, Canada. It develops crypto currency mining operations that deliver sustainable returns for shareholders; and management software for cryptocurrency mining operations. The company was formerly known as Vogogo Inc. and changed its name to Cryptologic Corp. in July 2019. Cryptologic Corp. is based in Toronto, Canada.

Details
Name: Cryptologic Corp.
CRY
Exchange: CNSX
Founded:
CA$21,622,575
12,719,162
Website: http://www.cryptologic.com
Address: Cryptologic Corp.
5 Hazelton Avenue,
Suite 300,
Toronto,
Ontario, M5R 2E1,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
CNSX CRY Common Shares Canadian National Stock Exchange CA CAD 16. Sep 2014
DB 2V7A Common Shares Deutsche Boerse AG DE EUR 16. Sep 2014
Number of employees
Current staff
Staff numbers
1
Cryptologic employees.
Industry
Application Software
Software
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/09/19 00:38
End of day share price update: 2019/09/18 00:00
Last earnings filing: 2019/08/29
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.