Swaying, vibrating theatre seats may seem to be a rather specialized area of expertise, but they’re making money for one Canadian tech stock. D-BOX Technologies, a penny stock based in Quebec, sells its motion system technology to movie theatres, amusement parks and training simulator firms. With its systems installed or due to be installed in 402 theaters in 29 countries, D-BOX has seen its revenue jump, and its earnings have moved into positive territory. The company has stepped up its research spending and it has strong financial backing, but it also faces stiff competition in a relatively new field.
D-BOX Technologies Inc. (symbol DBO on Toronto; www.d-box.com) has developed technology for enhancing the experience of movies, amusement park rides and training simulators.
The company mainly sells its products to movie theatre operators. Once they’re embedded inside seats, they cause them to sway and vibrate during the film. D-BOX also digitally encodes movies with the appropriate visual and sound cues, which its computer servers synchronize with the seats.
The Caisse de dépôt et placement du Québec is D-BOX’s largest shareholder, with an 11.67% stake.
D-BOX has installed (or is contracted to install) its system at 402 screens in 29 countries. Its customers include large chains like Cineplex in Canada and Cinemark in the U.S. The company is also adapting its technology to home entertainment and video game systems.
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Penny stocks: D-BOX pushes research spending up 159%
In its fiscal 2016 first quarter, which ended June 30, 2015, D-Box’s revenue jumped 57.6%, to $7.2 million from $4.6 million a year earlier. Revenue from theatre operators (67% of the total) rose 60.2%, while home systems revenue (5%) gained 48.9%. Revenue from industrial clients, such as amusement parks and simulators (28%), rose 53.2%.
The company earned $30,000, or nil per share. A year earlier, it lost $1.2 million, or $0.007 a share.
D-BOX’s research spending jumped 159.3%, to $975,000 (or 13.6% of revenue) from $376,000 (or 8.2%). The company ended the quarter with cash of $6.2 million, or $0.04 a share. Since then, it has also received a $5-million loan from the Caisse.
The outlook for motion technology is positive, as movie studios and theatre owners look for new ways to compete with home entertainment systems and video games. Moreover, the Caisse’s involvement gives D-Box a measure of financial stability. However, the company operates in a competitive market that includes China-based Guangzhou Shuqee Digital Technology and Quebec-based Triotech Amusement.
D-BOX Technologies is okay to hold, but only for highly aggressive investors.
Inner Circle recommendation: HOLD for highly aggressive investors
Do you look for stocks with a new product or idea—or think they should be avoided?
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