SeeThruEquity updated coverage on Net Element, Inc. (NASDAQ: NETE) this week following release of the company’s earnings report for the second quarter of 2017. Net Element reported second quarter revenue of $16.1 million, representing an 18% increase from the second quarter of 2016. The analyst noted that this impressive performance was primarily attributed to the company’s NA Transactions segment, which saw revenue growth of 31% YoY. The company’s Online Solutions segment also displayed hearty growth from a small base with a revenue increase of 33% YoY. Additionally, the analyst noted that the company has been given until October 20, 2017, to regain compliance with the Nasdaq Capital Market. The company is working with Nasdaq to present a case to regain compliance.
For more information, visit www.NetElement.com
About Net Element, Inc.
Net Element (NASDAQ: NETE) is a global payments-as-a-service, technology provider with an integrated mobile and transactional services platform serving millions of emerging market clients. Its wholly owned subsidiary, TOT Group operates Unified Payments, a U.S. focused transaction processing and value-added services brand, Aptito, a next generation, cloud-based point of sale payments platform and TOT Money, a leading mobile payments service provider that is gaining significant traction in the mobile payments market in Russia and for two consecutive years, has been ranked in the Top 3 mobile payments providers by Beeline, Russia’s second largest telecommunications operator.
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