Thanks for sharing, I like the analysis and have spent time looking at this company. The underlying healthtech business is interesting. A lot of companies and people continue to say that hospitals use efax for a lot of things / underlying HIPAA rules on governmental healthcare efax seems to make that sticky. I wonder if EPIC, Cerner change that long-term but until I see some of that decline I can get behind it.
The consumer business for me is the problem. Docusign has a $10/month plan. Adobe has one. Micrsoft gives you the ability to print to pdf, but not track signatures if some people are still signing up for this business for the PDF options.
Also, I have seen a number of people get long LFMD and point to Worksimpli, which seems like a logical competitor. Personally, I think LFMD is not a good business either, but I don't understand how Worksimpli can be growing so quickly while JSign is churning. LFMD would tell you they are better at placing ads on Instagram, FB and TikTok. I don't see that as a logical answer. It's possible that Worksimpli is taking market share, but it seems like this is a race to the bottom for small business and individual customers to be able to sign PDFs for one month and then cancel and try another one. Is LFMD making up numbers or are they better at marketing? They definitely capitalize all their expenses, but I am only looking at topline. If CCSI just needs two or three digital marketing people, why don't they do that? If that isn't the answer, it seems that there isn't one and you should wait until that turns around.
I would hope there is a PE acquiror that will take this off their hands (at any price) and wouldn't get long until they do and then they can refinance the debt. Just my two cents.
Thanks for sharing, I like the analysis and have spent time looking at this company. The underlying healthtech business is interesting. A lot of companies and people continue to say that hospitals use efax for a lot of things / underlying HIPAA rules on governmental healthcare efax seems to make that sticky. I wonder if EPIC, Cerner change that long-term but until I see some of that decline I can get behind it.
The consumer business for me is the problem. Docusign has a $10/month plan. Adobe has one. Micrsoft gives you the ability to print to pdf, but not track signatures if some people are still signing up for this business for the PDF options.
Also, I have seen a number of people get long LFMD and point to Worksimpli, which seems like a logical competitor. Personally, I think LFMD is not a good business either, but I don't understand how Worksimpli can be growing so quickly while JSign is churning. LFMD would tell you they are better at placing ads on Instagram, FB and TikTok. I don't see that as a logical answer. It's possible that Worksimpli is taking market share, but it seems like this is a race to the bottom for small business and individual customers to be able to sign PDFs for one month and then cancel and try another one. Is LFMD making up numbers or are they better at marketing? They definitely capitalize all their expenses, but I am only looking at topline. If CCSI just needs two or three digital marketing people, why don't they do that? If that isn't the answer, it seems that there isn't one and you should wait until that turns around.
I would hope there is a PE acquiror that will take this off their hands (at any price) and wouldn't get long until they do and then they can refinance the debt. Just my two cents.