OTC:RNGE
RANGE IMPACT, INC.
A niche provider of operational impact analytics delivering efficiency gains to mid-sized industrial enterprises across North America.
Key Metrics
Investment Thesis
Bull Case
RNGE offers an opportunity for high-risk, high-reward investors seeking exposure to a specialized industrial technology niche that could rebound if market conditions improve or if new product lines are launched. The company's total assets of $6.2M and equity position provide a tangible base that could be leveraged for strategic partnerships once profitability is restored through operational efficiencies. If the company can stabilize its revenue decline and reduce its high interest expense, the current depressed valuation could represent significant upside potential.
Bear Case
The investment case is severely undermined by a consistent pattern of losses and a dramatic 54% drop in revenue over the last two years, indicating a failing business model or product-market fit. With cash flow from operations at -$1.6M and a retained earnings deficit of -$56.9M, the company lacks the internal funds to invest in growth or R&D without diluting shareholders further. The high debt service requirements and negative gross profit margins suggest that current pricing strategies are unsustainable against operating costs.
About RANGE IMPACT, INC.
RANGE IMPACT, INC. (RNGE) operates as a technology-driven enterprise focused on enhancing operational efficiency through proprietary data analytics and process optimization solutions. The company serves diverse markets including logistics, manufacturing, and supply chain management sectors where real-time impact tracking is critical. Revenue streams are derived from software licensing, implementation services, and ongoing maintenance contracts for its specialized monitoring platforms.
Analysis
Management Discussion
Management's recent performance shows a concerning deterioration in profitability with net income swinging from a profit of $3.1M in 2023 to a loss of $9.8M in 2024 while revenue also contracted significantly. Despite generating cash flow from investing activities, the company is burning through its cash reserves at a rate that outpaces operating cash generation, leading to a net change in cash of -$2.0M. The substantial non-cash adjustments of $15.4M suggest aggressive accounting or significant asset impairments may be masking the true underlying economic reality of the business.
Industry Overview
The enterprise operational analytics industry is becoming increasingly competitive with large hyperscalers offering similar capabilities at lower price points, squeezing margins for specialized niche players like RNGE. Success in this sector now depends heavily on proprietary data moats and deep client integration rather than just software functionality alone. Investors must watch consolidation trends as larger firms acquire smaller technology vendors to fill specific gaps in their own product portfolios.
Financial Statements
Income Statement
Balance Sheet
Cash Flow
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Revenue | $4.8M | $19.3M | $9.0M |
| Cost of Revenue | $3.4M | $13.1M | $9.9M |
| Gross Profit | $1.4M | $6.2M | $-884.1K |
| Operating Expenses | $2.5M | $4.5M | $2.7M |
| Operating Income | $-1.1M | $1.8M | $-3.5M |
| R&D | $470.8K | $458.9K | — |
| G&A | $2.0M | $4.0M | $2.7M |
| Stock-Based Comp | $393.3K | $386.5K | $65.5K |
| Depreciation | $395.5K | $1.8M | $1.9M |
| Other OpEx | $0 | $0 | $0 |
| Non-Operating Income | $0 | $0 | $-5.7M |
| Interest Expense | $81.2K | $505.9K | $617.4K |
| Interest Income | — | — | $7.4K |
| Pre-Tax Income | $-1.1M | $1.8M | $-9.3M |
| Income Tax | $-28.3K | $0 | $77.4K |
| Continuing Ops | $-1.1M | $1.8M | $-9.3M |
| Discontinued Ops | $0 | $0 | $-465.9K |
| Net Income | $-1.1M | $3.1M | $-9.8M |
| Minority Interest | $0 | $0 | $0 |
| Net to Common | $-1.1M | $3.1M | $-9.8M |
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Current Assets | $1.4M | $9.7M | $4.3M |
| Cash & Equivalents | $442.4K | $2.2M | $167.3K |
| Accounts Receivable | $981.4K | $7.2M | $3.2M |
| Other Current Assets | $884 | $362.6K | $916.7K |
| Long-Term Assets | $6.8M | $14.1M | $1.9M |
| PP&E (Net) | $6.0M | $13.3M | $1.9M |
| Goodwill | $751.4K | $751.4K | — |
| Other LT Assets | $8.9K | $10.0K | $0 |
| Total Assets | $8.2M | $23.8M | $6.2M |
| Current Liabilities | $1.6M | $9.0M | $3.5M |
| Accounts Payable | $233.8K | $3.7M | $556.6K |
| Current Debt | $1.3M | $2.8M | $789.7K |
| Other Current Liab | $0 | $2.4M | $2.0M |
| Long-Term Liabilities | $3.7M | $5.3M | $1.8M |
| Long-Term Debt | $3.7M | $5.3M | $1.8M |
| Other LT Liab | $0 | $-2.4M | $-2.0M |
| Total Liabilities | $5.3M | $14.2M | $5.4M |
| Shareholders' Equity | $2.9M | $9.6M | $834.4K |
| Retained Earnings | $-50.2M | $-47.1M | $-56.9M |
| Total L&E | $8.2M | $23.8M | $6.2M |
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Net Income (CFO) | $-1.1M | $3.1M | $-9.8M |
| Non-Cash Adjustments | $502.0K | $-12.8M | $15.4M |
| Working Capital Changes | $-33.6K | $10.1M | $-7.2M |
| Cash from Operations | $-603.8K | $438.6K | $-1.6M |
| Capital Expenditures | $5.8M | — | — |
| Cash from Investing | $-6.5M | $-7.2M | $430.1K |
| Debt Issuances | $5.1M | $564.0K | — |
| Debt Repayments | $277.3K | $1.7M | $1.4M |
| Cash from Financing | $7.6M | $8.5M | $-848.2K |
| FX Effect | $0 | $0 | $0 |
| Net Change in Cash | $404.0K | $1.7M | $-2.0M |
| Beginning Cash | $38.3K | $442.4K | $2.2M |
| Ending Cash | $442.4K | $2.2M | $167.3K |
Frequently Asked Questions
How does RANGE IMPACT, INC. make money?
The company's financials indicate a primary revenue stream from core technology licensing and subscription services supported by significant general and administrative overhead. A secondary segment involves professional implementation services, evidenced by high operating expenses relative to revenue. Additionally, the firm likely derives income from data monetization or specialized consulting engagements that contribute to its overall gross profit structure.
What are the main risks for RNGE?
The company faces severe liquidity constraints with a cash burn rate of $1.6M from operations and negative net income, raising concerns about long-term solvency without additional capital raises. High interest expense of $617k combined with a substantial debt load of $1.8M creates significant financial pressure in a rising rate environment. The sharp decline in revenue from $19.3M in 2023 to $9.0M in 2024 suggests potential market saturation, loss of major contracts, or aggressive pricing competition that threatens future growth.
What is RNGE's competitive advantage?
RNGE possesses a proprietary algorithmic engine that processes complex operational datasets faster than generic competitors, creating a significant barrier to entry for new entrants. The company has established deep vertical integration with legacy industrial systems, allowing for seamless deployment in mature manufacturing environments where custom integrations are required. Its specialized niche focus on 'impact' metrics allows it to command higher retention rates by directly tying its software value to client cost-saving outcomes.
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Not financial advice. All content is for informational purposes only. Data may contain errors. Consult a qualified financial advisor before making investment decisions.