viewOTC Markets Group Inc.

OTC Markets Group's third quarter shows strong revenue growth of 7%

For the third quarter ended September 30, the company saw revenue expand to $15.8 million

OTC Markets Group Inc -
OTC Markets Group posted its eleventh consecutive quarter of revenue growth

OTC Markets Group Inc (OTCQX: OTCM) posted third quarter results Tuesday that saw revenue rise 7% to $15.8 million, compared to $14.8 million in the same quarter a year earlier.

“We were pleased to deliver our eleventh consecutive quarter of revenue growth,” said Bea Ordonez, chief financial officer at the OTC Markets Group.

“All three of our business lines contributed quarter over quarter revenue growth, with more companies trading on our OTCQX Best Market, more users of our industry leading compliance analytics products and continued growth in volumes traded on our OTC Link ECN the primary drivers," she added.

READ: OTC Markets Group’s Best Market rises in 2Q as membership swells

The company reported 8% growth from its corporate services business, driven by an increase in the number of companies on its OTCQX market, as well as price increases for renewing subscribers on the OTCQB market, which offset a slight decline in the number of companies on that market.

Meanwhile, market data licensing revenue saw a 6% jump, with increased usage of its suite of data license products, including its compliance analytics products.

OTC Link revenue increased 6% over the prior year quarter. The increase was driven by revenues from its OTC Link ECN as well as an increase in revenue from quotes and messages on its OTC Link ATS.

The company reported net income of $4 million for the quarter, and diluted earnings per share on a GAAP basis of $0.33.

The company announced a special dividend of $0.65 per share, and fourth quarter dividend of $0.15 per share, marking their 44th consecutive quarterly dividend and eight consecutive special dividend.

“We achieved record revenues in the third quarter and have continued to focus our efforts on generating value from the significant investments we have made during 2019 — in our facilities, in our technology platform and in our people,” said OTC Markets Group CEO R. Cromwell Coulson. 

“During the third quarter, we completed upgrades to our primary and secondary data centers ahead of schedule and with no interruption to our business. We remain committed to enhancing our value proposition and continuing to deliver public markets that efficiently serve the needs of brokers, banks, companies and investors," he added.

Strategic alliance

In October, the company announced a strategic alliance with North Capital Investment Technology Inc to provide companies with access to a technology platform that enables them to cost effectively raise capital online.

Through the strategic alliance, the OTC Markets Group will provide OTCQX and OTCQB companies with access to a technology solution that will allow them to efficiently conduct and manage a range of securities offerings online. North Capital's technology and ancillary offerings provide issuers with an automated workflow that streamlines the investment process.

The OTC Markets Group operates the OTCQX Best Market, the OTCQB Venture Market and the Pink Open Market for 10,000 US and global securities.

The New York-based operator of financial markets has over 450 securities from 27 countries trading on its OTCQX Best Market.

Contact Uttara Choudhury at [email protected]

Follow her on Twitter: @UttaraProactive 

Quick facts: OTC Markets Group Inc.

Price: 29.35 USD

Market: OTCQX
Market Cap: $341.85 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of OTC Markets Group Inc. named herein, including the promotion by the Company of OTC Markets Group Inc. in any Content on the Site, the Company...



OTC Markets Group looking for major growth in 2020 after big expansion in 2019

OTC Markets Group (OTCMMKTS: OTCM) SVP, Corporate Services Chris King sat down with Steve Darling from Proactive at the Vancouver Resources Investment Conference. OTC Markets Group is a New York-based financial market providing price and liquidity information for almost 10,000 securities. The...

on 19/1/20

3 min read