Corporate Webpages Glu Mobile, Inc.
glu Mobile, Inc. (GLUU) is a maker of computer games. These it
sells directly to individuals through various ap stores.
We were frankly not impressed with the company's website. Many
features were designed for the latest operating systems and
limited in whether or not they could work on older ones. There
was no CEO Letter to Shareholders and some previous class action
lawsuits related to "guidance" provided in conference calls.
There was no glitzy annual report. The company website was very
limited in describing the company, mainly touting excellent
working conditions for potential employees.
The company has had a string of previous losses, although the
financial ratios do not all look too bad, as the company has
limited debt. It has recently diluted share value with new
share offerings. Management is compensated with stock options.
Researchers do not like the stock, and sentiment while strong,
is coupled with technical indicators favoring a downmove. The
company has had several recent patents and needs to protect its
products against copyright violators.
The stock does have support from several analysts, but
researchers are generally negative. Institutions are net acquirers.
Insiders are only selling.
The stock recently broke out of a channeling range. This was on
prospects of improving earnings. Our assessment is that this
stock would probably make a better short than a buy and hold.
But its share price has doubled in the past year and it is quite
volatile even without the pandemic. A gap down occurred in
early August, 2019. It amounted to 41% of the share price and
news indicated it was due to delay in release of new games,
particular Disney's "Socerer's Arena." We think this shows
great weakness potential for this company. Judging from its
website, we think it needs better programming, and more than
just direct marketing to individual customers.
06-10-2020: Glu Mobile, Inc. (GLUU): Analysts Like It... But...
(WAIT FOR PAGE TO LOAD COMPLETELY BEFORE LINKS WORK.)
Company Profile
Company History
News
Comparison with Peers
Bond Issue
Zenith Index
Financial Statements
Avg. P/E to Current P/E
Financial Ratios
Intrinsic Value (Disc. CashFlow)
Fair Value Estimator
Projected Earnings
Research Reports
Analysts' Opinions
Insider Activity
Institutional Activity
Sentiment
Short Interest
Standard & Poor's
Management's Discussion
Channel Potential
MACD Histogram
Intraday Chart
Val Idea
Stock Consultant
Point & Figure Chart
Wall Street Analyzer
Marketspace Chart
Time Series Forecast
Neural Network Prediction
Stock Options
Ultimate Trading Systems
Recommendation
Corporate Wepages
Company Profile |
Company History |
News |
Comparison |
Similar Companies Performance:
Bond Issue |
Zenith Index |
Why all the zeros? Zenith has relied on Yahoo Finance for data to provide the Zenith Index in this particular format, but Yahoo is one of the worst and least dependable sites on the Internet. It hires incompetent programmers, changes things willy-nilly, and is almost impossible to follow reliably. Hopefully we will be able to produce an analysis from a better source in the future, but that will take a lot of time, and the question is, '"Is it worth it?"
Under current market conditions, a Zenith Index Score of 1.20 or above is required for a positive rating on this factor. 1.21 -1.30 is considered acceptable, 1.30-1.40 is considered strong and
> 1.40 is considered exceptionally strong. Accounting statements in this section often contain mistakes, especially in earlier years' totals, but data is deemed sufficient for us to give a rating. More accurate financial statements follow in the next section.
Glu Mobile Inc. (GLUU) Exchange: Nasdaq
875 Howard Street
Suite 100 Sector: Communication Services
San Francisco, CA 94103 Industry: Electronic Gaming & Multimedia
Glu Mobile Inc. develops, publishes, and markets a portfolio of
free-to-play mobile games for the users of smartphones and tablet
devices. It publishes titles primarily in four genres, including
lifestyle, casual, mid-core, and sports and outdoors. The company's
portfolio of compelling games based on its own intellectual property,
such as Cooking Dash, Covet Fashion, Deer Hunter, Design Home, Diner
DASH Adventures, and QuizUp, as well as games based on or significantly
incorporating third party licensed brands, including Kim Kardashian:
Hollywood, MLB Tap Sports Baseball, and Restaurant Dash with Gordon
Ramsay, as well as Disney Sorcerer's Arena. It markets, sells, and
distributes its games primarily through direct-to-consumer digital
storefronts, such as the Apple App Store, Google Play Store, and others.
The company was formerly known as Sorrent, Inc. and changed its name to
Glu Mobile Inc. in May 2005. Glu Mobile Inc. was founded in 2001 and is
headquartered in San Francisco, California.
Last Trade: 9.48 52-Week Range: 10.72 - 3.98
Employees: 659 Avg.Volume: 4,080,707 Shares
Corporate Governance:
Pillar scores are Audit: 2; Board: 6; Shareholder Rights: 8; Compensation: 2.
(A lower number means less governance risk.)
EPS: -0.02 Dividend Amount: $ 0.00 Yield: 0.00%
Ex-Dividend Date: N/A Payout Ratio: 0.00
Key Statistics:
Trailing P/E: 0.00 Forward P/E (est.): 31.85
Target Price: 10.50
Qrtly Stock Price Growth (yoy): 31.67% Beta: 1.14
Qrtly S&P Index Growth (yoy): 7.80% Short Ratio: 1.51%
Qrtly Revenue Growth (yoy): 52.00% Shares Out: 151590000
Qrtly Earnings Growth (yoy): 0.00%
Book Value: 1.27 Debt/Equity: 22.48%
Price/Book Value: 6.88 Operating Profit Margin: -1.33%
Price/Sales: 3.50 Profit Margin: -0.82%
Market Cap: 1,361,000,000 Return on Equity: -1.81%
Enterprise Value: 1,360,000 Return on Assets: -0.91%
Operating Cash Flow: 35,181
Free Cash Flow: 29,300
Annual Income Statement: (All numbers in thousands)
Period Ending 12/31/2019 12/31/2018 12/31/2017
Total Revenue 411,381 366,561 286,827
Cost of Revenue 145,499 138,275 141,153
Gross Profit 265,882 228,286 145,674
Operating Expenses:
Research & Development 95,127 94,934 92,420
Selling, General & Administrative 163,514 145,527 138,781
Total Operating Expenses 258,641 240,461 231,201
Operating Income or Loss 7,241 -12,175 -85,527
Income from Continuing Operations:
Total Other Income/Expenses Net 0 -240 -6,019
Interest Expense 0 235 6,859
Income Before Taxes 9,342 -12,650 -98,396
Income Tax Expense 471 549 -826
Net Income from Continuing Op.s 8,871 -13,199 -97,570
Non-recurring Events:
Extraordinary Items 0 0 0
Net Income 8,871 -13,199 -97,570
Net Income Avail to Common Shares 8,871 -13,199 -97,570
Annual Cash Flow Statement: (All numbers in thousands)
Period Ending 12/31/2019 12/31/2018 12/31/2017
Net Income 8,871 -13,199 -97,570
Operating Activities:
Depreciation 0 0 0
Changes in Accounts Recv'bls 0 0 0
Changes in Liabilities 0 0 0
Changes in Inventories 0 0 0
Changes in other Oper'g Acts 0 0 0
Total Cash Flow f Operations 35,181 32,286 -28,236
Investing Activities:
Capital Exenditures 0 0 0
Investments 0 0 0
Other Cash Flows fr Investing 0 0 0
Total Cash Flows from Investing -5,438 -636 -13,703
Financing Activities:
Dividends Paid 0 0 0
Sale of Purchase of Stock 0 0 0
Other Cash Flows fr Financing 0 0 0
Total Cash Flows from Financing -443 2,181 3,763
Change in Cash & Cash Equiv. 127,053 97,944 63,764
Annual Balance Sheets: (All Numbers in Thousands)
Period Ending 12/31/2019 12/31/2018 12/31/2017
Current Assets:
Cash & Cash Equivalents 0 0 0
Short Term Investments 0 0 0
Net Receivables 0 0 0
Inventory 0 0 0
Other Current Assets 0 0 0
Total Current Assets 0 0 0
Long-Term Investments 0 0 0
Property, Plant & Equipt 0 0 0
Goodwill 0 0 0
Intangible Assets 0 0 0
Other Assets 0 0 0
Total Assets 314,433 299,298 339,504
Current Liabilities:
Accounts Payable 0 0 0
Current Portion LT Debt 0 0 0
Other Current Liabilities 0 0 0
Total Current Liabilities 0 0 0
Long Term Debt 0 0 0
Other Liabilities 0 0 0
Total Liabilities 314,433 299,298 339,504
Stockholder Equity:
Common Stock 0 0 0
Retained Earnings 0 0 0
Capital Surplus 0 0 0
Total Stockholder Equity 0 0 0
Glu Mobile Inc. (GLUU) [Indices near +3.0, near zero,
or < zero bear special attention.]
P/E Ratio Tests:
P/E Ratio < 28? 0.0000 P/E Ratio > 5? 0.0000
P/E Ratio Vs Growth Rate: 0.0000 Forward P/E Ratio < 28? 0.8790
Price/Sales Ratio < 2.3? 0.6568 Inventory/Sales < 5%? 1.0000
Sales < $1 Billion? 2.4308 Operating Margin < 7.5%? -3.0000
Balance Sheet Tests:
Debt/Equity < 0.40? 1.7794 Long-Term Debt Service: 3.0000
LTD Being Reduced? 0.0000 Short-Term Debt Service: 3.0000
Current Ratio > 2? 1.0000 Working Capital >= 1.5? 1.0000
Leverage Ratio < 20%? 3.0000 Debt/Assets < 1? 3.0000
Quick Ratio > 1? 3.0000 Inventory Turnover > 1? 1.0000
Share Equity Increase: 1.0000 Market Cap.< 1.5 Billion? 1.1021
Intangibles < 3% Assets? 3.0000
Income Tests:
Profit Margin < 7.5%? -0.1093 EPS Annual Growth > 10%? -0.1488
Dividend Yield > 2.0%? 0.0000 EPS 3-yr Growth > 15? -1.6498
Enterprise Value/Revenue 3.0000 EPS Growth Consistent? 2.0000
Enterprise Value/EBITDA: 3.0000 Collection < 45 days? 1.0000
EPS Qrtly Growth > 10%? 0.0000 Gross Pft/Cur. LTD > 1? 3.0000
Borrowing Int. Rate < 6%? 3.0000
Stock Performance Tests:
Volatility > 25%? 2.5149 % Held by Insiders < 5%? 0.3220
Beta > 1.25? 0.9120 % Held by Institut. < 50? 0.6917
50 Da MA > 200 Da MA? 0.6234 % Held by Institut. > 30? 2.4097
52-Wk Change vs. S&P 500: 0.6090 Short Ratio > 5? 0.3020
Price/Book Value < 3? 3.0000 Short % of Float > 20? 0.2410
Return on Assets > 17%? -0.0535 Average Volume > 100,000? 3.0000
Cash Flow Tests:
Oper. C.F. > Lever'd C.F: 1.2007 Positive Free Cash Flow? 3.0000
Positive Oper. Cash Flow? 3.0000 Price to C.F.Ratio < 14?: 0.4224
Cash Flow / Assets > 10%? 1.3059
GLUU Glu Mobile Inc. Overall Zenith Index: 1.2951
Financial Statements |
GLU MOBILE INC (GLUU) INCOME STATEMENT Fiscal year ends in December. USD in thousand 2015-12 2016-12 2017-12 2018-12 2019-12 TTM Revenue 249,900 200,581 286,827 366,561 411,381 422,770 Cost of revenue 107,737 120,138 141,153 138,275 145,499 148,839 Gross profit 142,163 80,443 145,674 228,286 265,882 273,931 Operating expenses Research and development 72,856 81,879 92,420 94,934 95,127 98,112 Sales, General and administrative 74,332 78,275 138,781 145,527 163,514 178,184 Restructuring, merger and acquisition 1,075 2,279 6,019 240 0 0 Other operating expenses -874 -2,279 -6,019 -240 0 0 Total operating expenses 147,389 160,154 231,201 240,461 258,641 276,296 Operating income -5,226 -79,711 -85,527 -12,175 7,241 -2,365 Interest Expense 0 0 0 235 0 0 Other income (expense) -1,818 -8,030 -12,869 -240 2,101 1,272 Income before taxes -7,044 -87,741 -98,396 -12,650 9,342 -1,093 Provision for income taxes 141 -301 -826 549 471 -1,028 Net income from continuing operations -7,185 -87,440 -97,570 -13,199 8,871 -65 Net income -7,185 -87,440 -97,570 -13,199 8,871 -65 Net income available to common shareholders -7,185 -87,440 -97,570 -13,199 8,871 -65 Earnings per share Basic -0.06 -0.66 -0.72 -0.09 0.06 0.00 Diluted -0.06 -0.66 -0.72 -0.09 0.06 0.00 Weighted average shares outstanding Basic 118,775 131,804 135,715 141,402 145,838 147,134 Diluted 118,775 131,804 135,715 141,402 157,383 154,934 ____________________________________________________________________________________________________________________________________________ GLU MOBILE INC (GLUU) BALANCE SHEET Fiscal year ends in December. USD in thousand 2015-12 2016-12 2017-12 2018-12 2019-12 Assets Current assets Cash Total cash 180,542 102,102 63,764 97,834 127,053 Receivables 17,956 21,477 34,673 27,325 29,304 Prepaid expenses 23,715 12,465 8,458 15,460 23,976 Other current assets 14,841 18,986 30,681 30,382 34,306 Total current assets 237,054 155,030 137,576 171,001 214,639 Non-current assets Property, plant and equipment Gross property, plant and equipment 18,228 21,274 20,868 23,981 66,183 Accumulated Depreciation -12,781 -15,634 -6,238 -10,093 -13,370 Net property, plant and equipment 5,447 5,640 14,630 13,888 52,813 Goodwill 87,890 116,832 116,227 116,227 116,227 Intangible assets 22,767 25,896 18,264 9,145 4,758 Other long-term assets 49,828 36,106 12,601 4,172 29,612 Total non-current assets 165,932 184,474 161,722 143,432 203,410 Total assets 402,986 339,504 299,298 314,433 418,049 Liabilities and stockholders' equity Liabilities Current liabilities Capital leases 0 0 0 0 3,528 Accounts payable 9,386 16,298 21,203 10,480 16,892 Accrued liabilities 23,028 10,682 13,695 15,817 21,445 Deferred revenues 31,112 44,865 77,403 85,736 97,629 Other current liabilities 7,100 12,495 20,603 17,896 11,260 Total current liabilities 70,626 84,340 132,904 129,929 150,754 Non-current liabilities Capital leases 0 0 0 0 37,351 Accrued liabilities 24,347 20,836 7,300 1,649 26,842 Other long-term liabilities 1,585 1,514 5,234 5,542 15 Total non-current liabilities 25,932 22,350 12,534 7,191 64,208 Total liabilities 96,558 106,690 145,438 137,120 214,962 Stockholders' equity Common stock 13 13 14 14 15 Additional paid-in capital 557,748 571,243 589,962 617,781 634,721 Retained earnings -251,248 -338,688 -436,110 -440,483 -431,612 Accumulated other comprehensive income -85 246 -6 1 -37 Total stockholders' equity 306,428 232,814 153,860 177,313 203,087 Total liabilities and stockholders' equity 402,986 339,504 299,298 314,433 418,049 ____________________________________________________________________________________________________________________________________________ GLU MOBILE INC (GLUU) Statement of CASH FLOW Fiscal year ends in December. USD in thousand 2015-12 2016-12 2017-12 2018-12 2019-12 TTM Cash Flows From Operating Activities Net income -7,185 -87,440 -97,570 -13,199 8,871 -65 Depreciation & amortization 12,615 2,947 3,195 3,855 4,225 4,141 Investment/asset impairment charges 2,502 47,499 37,654 9,830 4,844 0 Investments losses (gains) 2,009 -55 631 1,046 0 0 Stock based compensation 11,686 13,263 15,063 24,592 17,383 16,958 Change in working capital -33,884 1,103 7,900 5,067 -3,646 -8,878 Accounts receivable 13,408 402 -13,061 7,028 -1,975 -8,110 Prepaid expenses -29,727 -19,011 -32,983 398 -1,568 -8,033 Accounts payable -1,701 3,135 4,735 -10,244 3,090 3,332 Accrued liabilities -4,987 50 4,613 -1,412 -1,029 -3,290 Other working capital -10,877 16,527 44,596 9,297 -2,164 7,223 Other non-cash items 792 2,899 4,891 1,095 3,504 8,561 Net cash provided by operating activities -11,465 -19,784 -28,236 32,286 35,181 20,717 Cash Flows From Investing Activities Investments in property, plant, and equipmen -2,751 -3,070 -11,344 -3,362 -5,283 -8,976 Acquisitions, net -1,914 -46,160 -1,659 2,726 0 0 Purchases of intangibles -2,500 -2,500 0 0 0 0 Other investing activities 241 186 -700 0 -155 -55 Net cash used for investing activities -6,924 -51,544 -13,703 -636 -5,438 -9,031 Cash Flows From Financing Activities Debt repayment 0 -1,885 0 0 0 0 Common stock issued 125,156 0 0 0 0 0 Other financing activities 3,214 -4,900 3,763 2,181 -443 10,046 Net cash provided by (used for) financing 128,370 -6,785 3,763 2,181 -443 10,046 Effect of exchange rate changes -351 -327 -162 -253 -191 -329 Net change in cash 109,630 -78,440 -38,338 33,578 29,109 21,403 Cash at beginning of period 70,912 180,542 102,102 64,366 97,944 93,305 Cash at end of period 180,542 102,102 63,764 97,944 127,053 114,708 Free Cash Flow Operating cash flow -11,465 -19,784 -28,236 32,286 35,181 20,717 Capital expenditure -5,251 -5,570 -11,344 -3,362 -5,283 -8,976 Free cash flow -16,716 -25,354 -39,580 28,924 29,898 11,741 ____________________________________________________________________________________________________________________________________________
Average to Current P/E Ratios |
(GLUU) Glu Mobile Inc.
2015 2016 2017 2018 2019
Annual Earnings: -0.06 -0.66 -0.72 -0.09 0.06
Average Price During Year: 4.86 2.45 2.88 5.46 7.68
P/E Ratio: 80.94 3.71 4.00 60.64 128.07
Average 5-Year P/E Ratio = 55.47
Current Price = 9.01
Previous 5 Quarter Earnings: 0.00 0.02 -0.03 0.07 -0.06
Current Annualized (Last Four Quarters) Earnings = -0.02
________
Average PE / Current PE = -0.12
--------
...a number above 1.00 is good
1.00 or below is bad
Financial Ratios |
. . . . . . . . . . . . Lowest to Highest, Compared to Industry
Intrinsic Value (DCF) |
Intrinsic Value by Discounted Cash Flow Method:
Fair Value Estimator |
Fair Value Estimate:
Projected Earnings |
Research Reports |
Analysts' Opinions |
Insider Activity |
Institutional Activity |
Institutional Ownership:
Sentiment |
Zenith uses the "sentiment" score above or below 50 to award a positive or negative point in the Decision Matrix.
Short Interest Ratio |
As the short interest rises as a percentage of average daily share volume (Days to Cover), this is considered a measure of negative sentiment. Similarly, a decrease in that percentage is considered positive sentiment.
Standard & Poor's |
Management's Discussion of Results of Operations Excerpts |
Channeling Potential |
The summary below includes a value for `Degree,' which refers on a
scale of 1 to 10 the range of a channel in the period under consi-
deration compared to the total range of price movement. It also looks
for the last closing price to be within the channel, otherwise zeroed.
The `Index' is the `Degree' weighted for volatility. Generally, the
the higher the index, the more suitable is the stock for trading as
a `rolling stock' between channel high and low points.
Results for GLU MOBILE INC.:
Symbol? GLUU
Total Months Available: 25
Months in Cycle? 4
Months Covered by Periods: 12
Period 1 Period 2 Period 3
H1 L1 H2 L2 H3 L3
7.99 4.11 6.70 5.05 10.72 3.98
RANGE = 10.72 TO 3.98 Close = 9.01
CHANNEL = 6.70 TO 5.05 Degree = 2
Volatility = 18.31% Index = 3
MACD Histogram Divergence |
The theory is that connecting the two most recent peaks or valleys of the MACD histogram will signal the direction of the next major move.
Intraday Chart |
2 Days:
Val Idea |
1 out of 8 favorable, (negative opinion.)
Stock Consultant |
Point & Figure Chart |
Wall Street Analyzer |
Marketspace Chart |
Time Series Forecast |
Neural Network Prediction |
"Neurostock" can only track long trades. Therefore its performance, as tracked by itself on stocks which are consistently falling, may not appear as good as it could if each "sell" signal were a "short sale."
Ultimate Trading Systems |
2 out of 3 of the ultimate systems favor a downmove.
System Below:
Short term outlook: Positive: Bright Green, Negative: Bright Red
Long term outlook: Postive: Dark Green, Negative: Dark Red.
Recommendation |
| Factors | Weighted Points |
|---|---|
| News | + 1 |
| Comparison | + 1 |
| Industry | + 1 |
| Bond Issue | - 1 |
| Zenith Index | + 1 |
| Non-GAAP vs. GAAP Earnings | + 1 |
| Cash Flow | + 1 |
| Average to Current P/E | - 1 |
| Ratios | - 1 |
| Intrinsic Value DCF | - 1 |
| Fair Value Estimator | + 1 |
| Projected Earnings | + 1 |
| Research Reports | - 1 |
| Analysts | + 1 |
| Executive Perquisites | - 1 |
| Insider Activity | - 1 |
| Institutional Activity | + 1 |
| Management Reporting | + 1 |
| Short Interest | + 1 |
| Sentiment | + 1 |
| Standard & Poor's | - 1 |
| MACD Histogram Divergence | + 1 |
| Val Idea | - 1 |
| Stock Consultant | + 1 |
| Point & Figure | + 1 |
| Wall Street Analyzer | - 1 |
| Marketspace Chart | - 1 |
| Time Series Chart | - 1 |
| Neural Network | - 1 |
| Stock Options | + 1 |
| Ultimate Trading Systems | - 1 |
| Total | + 3 |
Place 3,355 shares of glu Mobile, Inc. (GLUU) on the Active List.
