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COLLECTORS UNIVERSE INC

No Longer Reporting

The company has not filed an annual or quarterly report since its Q2 FY2021 10-Q, filed Feb 12, 2021. Its latest SEC filing is a 15-12G from Feb 18, 2021.

The sections below describe the company as of the FY2021 annual report.

What Did They Do?

Authenticates and grades coins, trading cards and other collectibles for dealers and collectors.

How Did They Make Money?

Dealers and collectors pay for authentication and grading, often when they submit items; Collectors Universe earns the fee when the graded item ships back. Memberships, subscriptions, trade shows and advertising bring in smaller amounts, with payment timing tied to those offerings.

FY2020 revenue

Who Were Their Customers?

Most submissions come through dealers; collectors can request a particular grading service, and dealers ordinarily comply.

Did Revenues Turn Into Profits?

Yes. It kept 14 cents of every revenue dollar as net income in FY2020 and turned 23 cents into free cash flow.

Operating income, FY2020
20% of revenue
▲ +60% vs FY2019 ($9M, 13%)
Net income, FY2020
14% of revenue
▲ +60% vs FY2019 ($6.2M, 9%)
Free cash flow, FY2020
23% of revenue
▲ +115% vs FY2019 ($7.7M, 11%)

How Were They Changing?

Since the FY2021 annual report
Latest quarter: Q2 FY2021, the three months to Dec 31, 2020
Revenue
▲ +82%
vs $19.5M in Q2 FY2020
Net income
▲ +183%
vs $2.6M in Q2 FY2020
  • Feb 8, 2021 Investor group completed the acquisition; Collectors Universe became privately held The merger converted issued shares into cash, and the company’s shares ceased trading on the Nasdaq market.

Grew. Revenue grew 17% in 4 years, from $61.7M in FY2016 to $72.5M in FY2020, about 4% a year.

Who Did They Compete With?

Competes with NGC, Independent Coin Grading, CAC, ANACS, Beckett Trading Card Grading, Trading Card Guaranty, and James Spence Authentication

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