Inpixon (INPX) stock climbed 13.79% in the pre-market session on Wednesday, April 14, 2021, after gaining 6.43% in the normal trading session. INPX shares have gained 4.50% over the last 12 months, and they have moved down by -4.13% in the past week. Over the past three months, the stock has lost 0.00%, while over the past six months, it has added 5.94%.
Let’s try to find out the reason behind its recent surge
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Note conversion
On April 14, 2021, Inpixon converted a note receivable due from Sysorex, Inc. the $9 million amount has been converted into shares of Sysorex common stock valued at approximately $17 million based on the closing price of Sysorex`s stock on April 13, 2021.
Acquiring outstanding capital stock of Game Your Game Inc.
On March 26, 2021, Inpixon acquired the outstanding capital stock of Game Your Game Inc.
New member to the board of advisors
Also on March 16, 2021, Richard “Rick” Clemmer was named to Inpixon’s board of advisors. Mr Clemmer is a co-investor in Game Your Game.Mr Clemmer served as CEO and executive director of NXP Semiconductors from 2009 until May 2020.
Recent financial results
On March 25, 2021, Inpixon reported financial results for the fiscal year ended December 31, 2020.
Financial highlights for FY2020
- For the reported year, INPX generated a revenue of $9.3 million compared to $6.3 million in 2019.
- Gross profit was $6.7 million in 2020 compared to $4.7 million for 2019.
- For the reported year, the net loss attributable to stockholders was $29.2 million compared to $34.0 million in 2019.
- Non-GAAP Adjusted EBITDA for the year 2020 was a loss of $17.1 million compared to a loss of $11.1 million for the prior-year period.
- Proforma non-GAAP net loss per basic and diluted common share for 2020was a loss of $0.71 compared to a loss of $18.75 per share for the prior-year period.
Inpixon claims the top spot as a visionary for the 3rd consecutive year
Inpixon has been recognized by Gartner as a Visionary for the third consecutive year in the indoor location services market based upon Inpixon’s ability to execute and completeness of vision.
Inpixon’s carbon dioxide (CO2) sensor modules distribution
On Feb. 11, 2021, Unitronic said that it is going to start distributing Inpixon’s carbon dioxide (CO2) sensor modules. The Inpixon sensors are used to measure indoor air quality, an important indicator of SARS-CoV-2 and other pathogen transmission risk.
Unitronic is a leading European distributor and Unitronic plans to sell Inpixon’s CO2 sensor modules as well as additional Inpixon products to its existing base of OEMs, system integrators, and solution providers.
Conclusion
The latest note conversion could be the reason behind its spike on Wednesday. Inpixon past performance in the stock market is not bad at all and we can expect a further rise in its stock price.
