Friday’s Top Gainers: Chicken Soup for the Soul Entertainment, Manning & Napier, & Greenidge Generation Holding

April 4, 2022 By: WealthMintr Team

CHICKEN SOUP FOR THE SOUL ENTERTAINMENT REPORTS REVENUE OF $36 MILLION IN Q4 2021

Chicken Soup for the Soul Entertainment Inc. (NASDAQ: CSSE) was up 43.8% after the advertising-supported video-on-demand networks operator announced its fiscal Q4 and FY 2021 financial results. CEO William Rouhana said that they delivered another strong quarter capping off a successful year in which the company put in place the pieces necessary to scale the AVOD platform. He explained that they have more than doubled the content library over the past year, expanded the EVOD  and FAST distribution, and unveiled a new Chicken Soup for the Soul streaming service and a new tech platform.

Net revenue in the fourth quarter was $36 million relative to $29.1 million in Q3 and $20.2 million in Q4 2020. Net revenue was up 78% YoY. Adjusted EBITDA was $9.3 million compared to $2.8 million a year ago. For the full-year revenue grew 66% YoY to $110.4 million from $66.4 million in 2020, and adjusted EBITDA was 21.8 million relative to $11.8 million a year ago, representing YoY growth of 86%.

MANNING & NAPIER TO GO PRIVATE 

Manning & Napier Inc. (NYSE: MN) jumped 40.4% after announcing a definitive agreement with Boston-based asset management company Callodine Group LLC under which Manning & Napier will be purchased by Callodine and go private. Callodine will purchase the investment managers for $12.85 per share, representing a 41% premium on the closing price of Manning & Napier’s stock on March 31, 2022. The purchase price is also a 55% premium on the stock’s volume-weighted average process for the past three months.

As part of the deal, Callodine will acquire all outstanding limited liability company stake from M&N Holdings LLC that it currently doesn’t own. The anticipated acquisition will close in Q3 2022, subject to shareholder approval and customary closing conditions. For now, until closing, Manning & Napier will continue paying its regular dividends to shareholders.

GREENIDGE GENERATION REPORTS 617% YOY GROWTH IN REVENUE 

Grenidge Generation Holding Inc.(NASDAQ: GREE)  was up 33.95% after the integrated crypto datacentre and power generation firm announced operational and financial results for Q4 and FY 2021 ended December 31, 2021 and offered an update about Q1 2022. Total revenue was up 617% YoY to $44.3 million, while cryptocurrency datacentre revenue increased 676% YoY to $33.7 million. Adjusted EBITDA was $19.1 million, in line with the company’s February guidance range of $18 million to $20 million.

Total revenue was $107.3 million for the full year, a YoY increase of 433%. In addition, Crypto datacentre revenue increased YoY 575% to $87.9 million. Adjusted net income for the full year was $26.8 million, and adjusted EBITDA was $52.9 million, in line with the estimate the company gave in March 2021. As of March 31, 2022, the company’s mining fleet comprised around 19,400 miners with 1.6 EH/s of capacity.