WaveDancer, Inc. engages in developing and maintaining information technology (IT) systems, modernizing client information systems, and performing other IT-related professional services to government and commercial organizations.
The company, through acquisition of Tellenger, Inc. (Tellenger), offers a full suite of IT services, including consulting, development, training, migration and modernization implementation, and on-site project support. The company has performed software development and...
WaveDancer, Inc. engages in developing and maintaining information technology (IT) systems, modernizing client information systems, and performing other IT-related professional services to government and commercial organizations.
The company, through acquisition of Tellenger, Inc. (Tellenger), offers a full suite of IT services, including consulting, development, training, migration and modernization implementation, and on-site project support. The company has performed software development and conversion projects for over 100 commercial and government entities across health, military, and homeland security organizations, including, but not limited to, the Department of Agriculture, Department of Defense, Department of the Navy, Department of Education, Department of Homeland Security, Department of the Treasury, Department of Labor, Department of Logistics Agency, Census Bureau, the U.S. Small Business Administration, the U.S. Army, the U.S. Air Force, the U.S. Marine Corps, Department of Veterans Affairs, and General Dynamics Information Technology, publicly traded firms, and non-profits.
The company, through acquisition of Gray Matters, Inc. (GMI or Gray Matters), focuses on the supply chain management software market and in the United States intelligence, national security and diplomatic organizations. Based on GMI's initial technology the company developed a commercial blockchain-enabled platform, called Maverix, to provide end-to-end visibility, transparency, and security over complex supply chains.
Segments
The company operates in two segments, Tellenger and Blockchain SCM.
Tellenger
Tellenger provides professional services, primarily to the U.S. government agencies, related to legacy software migration and modernization, developing web-based and mobile device solutions, including dynamic electronic forms development and conversion, and data analytics.
Blockchain SCM
Blockchain SCM is an early-stage business focused on developing, marketing, and selling a Software as a Service (SaaS) supply chain management platform built on blockchain technology.
Products and Services
While the company offers a range of services, historically, two areas of focus for the company have been modernization, including cloud services and migrations, and cybersecurity. With the company's acquisition of Gray Matters, the company is expanding its business by adding blockchain-enabled supply chain management capabilities. Each of these areas are more fully described below:
Modernization
Tellenger's modernization focus spans legacy system modernizations, as well as cloud assessment and migration efforts. Through the company's services, it aims to address client requirements, determine the best plan of action, and execute on that plan. The company has provided modernization solutions to more than 40 government and private sector clients, with a particular focus on modernizing older, proprietary mainframe COBOL applications.
Tellenger helps organizations understand their current level of cloud maturity and plan for their next phase of cloud adoption, be it a full cloud or hybrid solution or a private or public cloud and aims to address security concerns in the process. The company offers consulting and engineering services that range from cloud adoption to application migrations to cloud optimization. The company's customer engagements utilize Amazon Web Services, Microsoft Azure, Google Cloud, and Red Hat.
Cybersecurity
Tellenger specializes in cybersecurity by leveraging its resources within software development and cloud services, and took part in designing, developing, and deploying a large cybersecurity initiative for the U.S. Department of Homeland Security's Continuous Diagnostics and Mitigation (CDM) program, which enabled the agency to continuously manage its cybersecurity posture through a dynamic approach to fortifying their networks and systems. Most recently, the company has also helped design, develop, and implement a multi-tenant cybersecurity-managed service for government agencies known as Dashboard-as-a-Service (DBaaS).
Blockchain-Enabled Supply Chain Platform
With the company's purchase of Gray Matters it acquired a U.S. government contract to provide a cloud based software platform for tracking, auditing, and monitoring a complex global supply chain. During 2022, the company developed a commercial focused platform, that could also be sold to governmental entities, Maverix, that offers a standard user interface (UI) and user experience (UX) to customers and could also be customized for the defense and intelligence sectors. The thesis of the Maverix platform is that it will bring together all transactions, documentation, authorizations - every aspect of a process - in one zero-trust, web-based interface, giving customers an unprecedented level of accountability, auditability, and predictability.
In light of delays in generating revenue from the Blockchain SCM business and the need to invest significant additional capital into the business over at least the next two years to cover continuing operating cash losses, along with the uncertainty inherent in any early-stage technology business, the company concluded that its best course of action was to sell a majority stake in the business.
In March 2023, the company sold approximately 80.1% of its equity stake in the GMI business to Gray Matters Data Corporation (GMDC).
Professional Services
The majority of the company's revenue is derived from services that it provides its U.S. government customers through its subsidiary, Tellenger. Tellenger offers a suite of IT services, including consulting, development, training, migration and modernization implementation, and on-site project support. Tellenger's current contracts extend into 2023 and 2024.
Strategy
The company's strategy is to grow its business organically, as well as through acquisitions.
Intellectual Property
The company seeks to protect the source code of its proprietary ICONS legacy code conversion tools suite as trade secrets.
Competition
The company faces competition from other companies that purport to substantially automate the process through software tools, including Blue Phoenix Solutions, Fujitsu, and IBM. Software for enterprise resource planning, such as SAP and Oracle, provides an additional source of competition.
History
The company was founded in 1979. It was incorporated in 1979. The company was formerly known as Information Analysis Incorporated and changed its name to WaveDancer, Inc. in 2021.
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.
