1. Issuer Direct is like a Cision (owner of PR Newswire) that also provides integrated platforms for investor relations, corporate governance, and virtual event management for public companies.

2. Think of it as a comprehensive 'operating system' for public company communications and compliance, handling everything from distributing news (like PR Newswire) to managing shareholder relations and investor webcasts.

• Platform id.: A platform for managing and distributing customer messages to various audiences including investors and regulatory systems.
• Whistleblower Hotline: Provides secure notification and incident workflow management for corporate governance.
• Proxy Module: A real-time voting platform for companies and their shareholders.
• Stock Transfer Module: A cloud-based platform for managing shareholder information, stock ledgers, and issuing new shares.
• ACCESSWIRE: A service for news dissemination and media outreach.
• VisualWebcaster Platform: A cloud-based platform for live and on-demand webcasts, webinars, and virtual meetings.
• Investor Relations Content Network: Offers data feeds including news, stock, fundamentals, and regulatory filings for investor relations.
• Professional Conference and Events Software: A mobile application assisting with event management, meeting scheduling, and logistics for conferences.

ACCESS Newswire (ACCS) is a service provided by Issuer Direct Corporation, which primarily serves other companies and professional organizations. The major categories of customers for ACCS are:

• Corporate Issuers: This includes both public and private companies that utilize ACCS's platforms and services for shareholder communications, regulatory compliance, news dissemination, and event management.
• Financial Institutions: ACCS serves a range of financial entities, including brokerage firms, investment banks, and mutual funds.
• Professional Services Firms: This broad category includes law firms, accounting firms, investor relations (IR) firms, and public relations (PR) firms, all of whom leverage ACCS's offerings for their clients or internal operations.

Brian Balbirnie, Chief Executive Officer, Founder, and Chairman of the Board

Brian Balbirnie established Issuer Direct (now ACCESS Newswire Inc.) in 2006 with the vision of creating a technology-driven back-office compliance platform to reduce costs and increase efficiency for complex tasks. He is responsible for the strategic leadership and day-to-day operations of the company, which has grown to serve thousands of public and private companies under his direction. Balbirnie is an entrepreneur with over 20 years of experience in emerging industries and was named one of the Top 10 Inspiring CEOs of 2023 by C Level Focus Magazine. His previous experience includes serving as Vice Chairman at HealthPure, Inc. from September 2014 to April 2016 and as Managing Partner at The Catapult Company from 2004 to 2006.

Steven Knerr, Chief Financial Officer

Steven Knerr was appointed Chief Financial Officer of ACCESS Newswire Inc. (formerly Issuer Direct Corporation) effective September 16, 2024. He has held various financial roles within the company since August 2013, including serving as Controller from August 2013 to May 2015, interim CFO from May 2015 to November 2015, Chief Financial Officer from November 2015 to January 2022, and Vice President of Finance and Controller from January 2022 to March 2024. He also served as interim CFO from March 9, 2024, until his current appointment.

Jennifer Hammers, EVP Sales & Marketing

Jennifer Hammers serves as the Executive Vice President of Sales & Marketing for ACCESS Newswire Inc.

Mark Lloyd, Chief Technology Officer

Mark Lloyd is the Chief Technology Officer at ACCESS Newswire Inc.

Bernadette Lee, Vice President Distribution

Bernadette Lee holds the position of Vice President Distribution at ACCESS Newswire Inc.

Here are the key risks to ACCESS Newswire Inc.'s business:

1. Execution Risk of Business Model Transition and Platform Adoption: ACCESS Newswire Inc. (formerly Issuer Direct Corporation) is undergoing a significant strategic pivot to a pure Software-as-a-Service (SaaS) subscription model. The primary risk lies in successfully executing this full business model transition and achieving widespread platform adoption, particularly in converting one-time transactional customers into recurring monthly subscribers.
2. Intense Competition from Established Providers: The company operates in a highly competitive market for public relations and investor relations solutions, which is dominated by three major, legacy players: Cision Ltd. (PR Newswire), Business Wire (Berkshire Hathaway), and GlobeNewswire Inc. ACCESS Newswire Inc. holds a smaller market share and aims to challenge these established competitors, which could lead to aggressive pricing strategies and efforts to protect market share by the larger players.
3. Financial Performance During Transition: The ongoing business model transformation has led to financial pressures, including sustained net losses during the transition period, such as a reported net loss of $45,000 in Q3 2025. Additionally, the company recorded a significant operating loss in Q4 2024, primarily due to a $14.15 million impairment loss related to the Newswire tradename revaluation.

For Issuer Direct Corporation (symbol: ACCS), the addressable markets for its main products and services are as follows:

• ACCESSWIRE (News Dissemination and Media Outreach Service):

  The global Press Release Distribution Services Market was valued at approximately USD 1.2 billion in 2023 and is projected to reach around USD 2.5 billion by 2032.

• VisualWebcaster Platform (Cloud-based Webcast, Webinar, and Virtual Meeting Platform):

  The global Webinar and Webcast Market was valued at USD 1.14 billion in 2025 and is projected to exceed USD 2.37 billion by 2035. Another estimate places the global webinar and webcast market size at USD 1.22 billion in 2026.

• Platform id., Proxy Module, Stock Transfer Module, and Investor Relations Content Network (grouped as Investor Relations & Shareholder Services):

  The global Investor Relations Solutions Market was valued at USD 3.3 billion in 2025 and is projected to grow to USD 5.32 billion in 2030. Additionally, the global Corporate Shareholder Services Market is estimated to be valued at approximately USD 3.43 billion in 2026 and is projected to reach USD 5.99 billion by 2035.

• Professional Conference and Events Software:

  The global Event Management Software Market was valued at USD 7.2 billion in 2025 and is projected to reach USD 14.7 billion by 2034. Another source estimates the global event management software market at USD 12.23 billion in 2025, projected to reach USD 14.29 billion by 2026.

• Whistleblower Hotline:

  The global Compliance Software Market size is expected to increase from USD 35.37 billion in 2025 to USD 74.12 billion by 2031.

ACCESS Newswire (symbol: ACCS) is poised for future revenue growth over the next 2-3 years, driven by several strategic initiatives and underlying business trends:

1. Expansion of the Subscription-Based Model and Annual Recurring Revenue (ARR) Growth: The company is actively transitioning to a more predictable, subscription-driven revenue mix, moving away from project-based and transactional activities. This strategic shift is already yielding positive results, with an increase in subscriptions reported in recent quarters. Management has explicitly stated its focus on expanding subscription revenue and recurring ARR, with a goal to have 75% of revenue derived from subscription customers by the end of 2025.
2. Product Innovation and Enhanced Communication Solutions, including AI Integration: ACCESS Newswire is undergoing a "pivotal period of product advancement" with an ambitious technology roadmap. Planned and recently launched enhancements include a proprietary AI engine, Wikipedia-style business profiles, integration with leading social marketing platforms, an advanced tonality engine, and "ACCESS Verified," an AI-driven verification and distribution tool. The company also launched the ACCESS NEWSWIRE Marketplace in February 2026, a partner program designed to enhance public relations (PR) and investor relations (IR) workflows by providing customers with direct access to premier tools and solutions.
3. Customer Growth and Market Share Capture: ACCESS Newswire has demonstrated historical customer growth, with total customers increasing significantly year-over-year. The company aims for continued double-digit customer increases and is strategically positioned to capture additional market share in the evolving communications landscape. Management believes these efforts will position ACCESS Newswire to become a leading newswire service.
4. Increased Volume in the Core Press Release Business: Despite the strategic shift towards subscriptions, the core press release revenue has shown recent increases, primarily attributed to higher volume. This indicates that the foundational news dissemination service remains a contributor to overall revenue growth.

Capital Allocation Decisions (Last 3-5 Years)

Share Repurchases

• ACCESS Newswire Inc. (formerly Issuer Direct Corporation) authorized a share repurchase program of up to $1.0 million on December 3, 2025.

Share Issuance

• Specific dollar amounts for new share issuances were not publicly available within the last 3-5 years.

Inbound Investments

• No information on large inbound investments from third-parties (e.g., strategic partners or private equity firms) was publicly available within the last 3-5 years.

Outbound Investments

• On November 1, 2022, Issuer Direct Corporation acquired iNewswire.com LLC for $44 million, consisting of $18 million in cash, a $22 million secured promissory note, and 180,181 shares of common stock valued at approximately $3.9 million.
• The company completed the sale of its Compliance business for $12.5 million in February 2025, resulting in a net gain of $6 million.

Capital Expenditures

• Capitalized software spending increased by $218,000 for the year-to-date period in Q3 2024, indicating investment in software development.
• A near-term capital allocation priority for Q4 2023 was cash accumulation and growth investments.
• Strategic initiatives for 2025-2026 include investments in new product capabilities, such as AI-driven content analysis and social media integration.