Upstryve CEO Noah Davis Provides Insight on Company Growth and Outlook
Upstryve has been addressing the needs of trade workers internationally since 2019, providing mentoring programs, licensure programs, video resources, exam preparation, and business growth resources for the skilled trades industry. The platform strives to help workers in the industry achieve greatness no matter what age or level, and even has a program designed to connect qualified workers with professional connections and opportunities. Upstryve is positioned among a rapidly growing ed-tech industry, where companies like Quizlet, Powerschool, and Skillsoft Corp. uphold a popular status and high market capitalization. Upstryve CEO Noah Davis provides us with a look into the company’s mission and growth trajectory.
1. What is Upstryve?
Upstryve is an international education, training and career advancement company with a focus on vocational and skilled trades.
Through our subsidiaries we have served over 100,000 individuals, government agencies, Fortune 500 companies and international locations for training and education geared towards about 25 skilled trades.
The concept for Upstryve was born out of a time that changed the way most of us learn. In 2019, the majority of preparation for exams related to vocational licenses in the United States were done in the classroom. That all changed in 2020. There were no other options, so our physical classes went away and we launched live virtual classes, but instead of 5-10 students in a typical class, we had over 100 each time. Students were looking for extra study help. After our internal instructors were booked out for months, we went looking for more instructors and a platform that offered a marketplace to match those instructors with students, but we couldn't find it. So we set out to start our own.
2. Can you tell us about your customer base?
We have two sets of customers. Our Upstryve and One Exam Prep deals directly with individuals who are looking to become licensed and expand their career in the trades.
For our divisions North American Crane and Disco, we primarily serve enterprise customers. We have worked for years with companies of all sizes including Alcoa, Boeing, Tesla, US Steel, Itron, Ford, GM and over 100 more including the US Military. With our enterprise customers we send our trainers on-site to provide direct hands-on training to their employees.
3. I know you recently completed an acquisition and renamed the company from ProBility to Upstryve, can you elaborate on that?
In October we completed a name change from Probility Media Corp. to Upstryve Inc. We are still waiting for FINRA to complete the change on the exchange. We felt that the brand Upstryve better represents the collective group of companies we operate. Our future is in the delivery of education using technology while providing better solutions for employers in the vocational trades.
4. Can you talk about some of the brands under Upstryve?
We have a few collaboration partners, including Adobe, which is partnered with our brand Disco. We have worked closely with the respected education industry - PBS, Discovery Education, & Minecraft Education. In order to create eTextbooks for our clientele, we partnered with Rakuten to make that possible.
5. Your stock is fairly active, can you talk a little about it?
We have been fortunate to garner a lot of attention from the investing public. That comes with the good and bad. We believe we are continuing to drive shareholder value on a consistent basis by growing revenue, creating a healthy balance sheet and pursuing greater goals such as uplisting to a more senior exchange, pursuing acquisitions and becoming the go-to brand in the vocational education space.
Recently, we have seen our share price and market value come down significantly, probably to the point that we feel we are a very good value in the market. As recently as the beginning of December, we were trading at less than 2 times trailing 12 months’ revenue. Some companies pursuing education in the same manner, trade 10-30 times revenue in some cases, with operating losses in many cases.
Therefore, we believe our company has a lot of room to grow in shareholder value.