At last check, in the premarket trading session, Stamps.com Inc. (STMP) shares plunged by -9.17% to $175.0. STMP stock previously closed session at $192.66. The STMP stock volume traded 0.35 million shares, while average 3-month trading volume is 340.49K.
Everything you need to know about Stamps.com’s company background
Stamps.com Inc. provides is a mailing and shipping company that specifically provides online Internet-based mailing and shipping solutions. The company operates in the markets of United States and Europe. Stamps.com was previously known as StampMaster Inc. until December 1998. Its operations are basedon two segments, Stamps.com and Metapack.
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The company offers mailing and shipping solutions to mail and ship various mail pieces and packages through the United States Postal Service (USPS) under the Stamps.com, Endicia, ShipStation, Metapack, ShippingEasy, ShipEngine, and ShipWorks brands. Stamps.com has integrated its solutions with USPS mail classes which include priority Mail, Priority Mail Express, First Class, Media, Parcel Select, and others. USPS mailing solutions is provided by the company for printing electronic postage on all sorts of letters and mailing papers and forms using PC device, printer, and Internet connection.
The company has released its financial result for Q1 2021
On 7th May 2021, Stamps.com announced the financial report for its first quarter 2021. The Company continued to Show Strong financial execution in the first quarter of the year, which denoted the commemoration of the COVID-19 pandemic. Stamps.com has continued to outperform by providing superior Global Multi-Carrier E-Commerce Technology Solutions to their clients and accomplices in these difficult occasions. As the economy shows indications of more extensive recuperation, the STMP stock agree that online business will keep on being an indispensable part of both the worldwide economy going ahead and the financial recuperation.
Financial highlights of STMP stock’s Q1 2021
Here are the highlights of Q1 2021:
- In the first quarter the STMP stock reported total revenue of $189.1 million, an increase of 25% compared to $151.3 million in the first quarter of 2020.
- In the first quarter the company reported GAAP net income of $34.2 million, an increase of 108% compared to $16.5 million in the first quarter of 2020.
- In the first quarter the company reported GAAP net income per fully diluted share of $1.74, an increase of 92% compared to $0.91 in the first quarter of 2020.
- In the first quarter the company reported Non-GAAP adjusted EBITDA of $59.5 million, an increase of 43% compared to $41.5 million in the first quarter of 2020.
- In the first quarter STMP stock reported Non-GAAP adjusted income per fully diluted share of $2.08, 58% increase compared to $1.32 in the first quarter of 2020.
Outlook and guidance for 2021 for the company
The pandemic has caused plenty of macroeconomic vulnerabilities for 2021 consequently making specific guidance with significant scopes of potential results difficult. However STMP stock maintains that the uncertainties do not affect their operating strategies. The organization keeps on putting resources into worldwide innovation stages and expects operating cost in 2021 to increase as much as 20% or more, reflecting annualization of investments made during 2020 as well as additional ventures expected in 2021.