STCN on NASDAQ

Steel Connect

Defunct American software company

CMGI, Inc. (founded as College Marketing Group) was an American company.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 19, 2026.

Overview

$174.1MRevenue, fiscal 20244
$88.0MNet income, fiscal 20244
1986Founded1

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  • TickerSTCN on NASDAQ1
  • Industrysupply chain management1
  • HeadquartersWaltham1
  • Founded inDelaware1
  • Websitewww.steelconnectinc.com
  • Incorporated inDE5
  • Business address590 Madison Avenue, 32Nd Floor, New York, Ny 100225
  • Filer categoryNon-accelerated filer, Smaller reporting company5
MLNK-Waltham-IMG 5118-Web
Photo: Rachel3mw, CC BY-SA 4.0, via Wikimedia Commons7

CMGI, Inc. (founded as College Marketing Group) was an American company. During the dot-com bubble, the company had a market capitalization of $41 billion. Between 1995 and 1999, it had the best-performing stock in the United States, returning 4,921%. After the crash of the bubble, the stock price fell 99.9%.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2024

27.9%Gross margin4
4.3%Operating margin4
50.5%Net margin4
57.1%Return on equity4
0.08×Debt to equity4
$17.9MFree cash flow4

Where the money goes

Where each dollar of revenue went, fiscal 2024

  • Cost of revenue39¢$125.6M
  • Selling, general and admin12¢$37.5M
  • Income tax21¢$67.0M
  • Profit28¢$88.0M

Out of $174.1M in revenue.4

Where each dollar of operating cash went, fiscal 2024

  • Capital spending18¢$4.0M
  • Kept or used elsewhere82¢$17.9M

Out of $21.8M of cash from operations.4

Financial statements

Revenue89101112134$174.1M in 2024−60% since 2017
0$250.0M$500.0M$750.0M$1.0B2017: $436.6M$436.6M20172018: $645.3M$645.3M2018+48%2019: $819.8M$819.8M2019+27%2020: $782.8M$782.8M2020−5%2021: $226.3M$226.3M2021−71%2022: $203.3M$203.3M2022−10%2024: $174.1M$174.1M2024−14%
Gross profit89101112134$48.5M in 2024+33% since 2017
0$50.0M$100.0M$150.0M$200.0M2017: $36.4M$36.4M20172018: $101.3M$101.3M2018+178%2019: $149.7M$149.7M2019+48%2020: $163.0M$163.0M2020+9%2021: $47.7M$47.7M2021−71%2022: $41.5M$41.5M2022−13%2024: $48.5M$48.5M2024+17%
Operating income89101112134$7.5M in 2024
-$40.0M-$20.0M0$20.0M$40.0M2017: -$19.8M-$19.8M20172018: -$8.3M-$8.3M2018−58%2019: -$25.3M-$25.3M2019+204%2020: $32.4M$32.4M20202021: -$1.6M-$1.6M20212022: $1.2M$1.2M20222024: $7.5M$7.5M2024+542%
Net income89101112134$88.0M in 2024
-$100.0M-$50.0M0$50.0M$100.0M2017: -$25.8M-$25.8M20172018: $36.7M$36.7M20182019: -$66.7M-$66.7M20192020: -$5.3M-$5.3M2020−92%2021: -$44.4M-$44.4M2021+740%2022: -$11.0M-$11.0M2022−75%2024: $88.0M$88.0M2024
Fiscal year20172018201920202021202220232024
Revenue$436.6M8$645.3M9$819.8M10$782.8M11$226.3M12$203.3M13$174.1M4
Cost of revenue$400.3M8$544.0M9$670.1M10$619.9M11$178.6M12$161.7M13$125.6M4
Gross profit$36.4M8$101.3M9$149.7M10$163.0M11$47.7M12$41.5M13$48.5M4
Selling, general and admin$54.2M8$102.0M9$144.1M10$103.3M11$49.3M12$40.4M13$37.5M4
Operating expenses$40.4M13$41.0M4
Operating income-$19.8M8-$8.3M9-$25.3M10$32.4M11-$1.6M12$1.2M13$7.5M4
Interest$8.2M8$29.9M9$42.0M10$34.0M11$2.6M12$3.1M13
Income before tax$2.1M13$21.0M4
Income tax$2.7M8-$71.2M9$4.7M10$5.9M11$8.8M12$11.4M13-$67.0M4
Net income-$25.8M8$36.7M9-$66.7M10-$5.3M11-$44.4M12-$11.0M13$88.0M4
Earnings per share-$0.478$0.609-$1.1310-$0.1211-$0.7512-$2.0413$3.304
Earnings per share (diluted)-$0.478$0.539-$1.1310-$0.1211-$0.7512-$2.0413$3.114
Shares (weighted, basic)6.4M shares136.2M shares4
Shares (weighted, diluted)6.4M shares1328.6M shares4

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The story

History

The company was formed in 1968 as College Marketing Group by Glenn and Gail Mathews. At first, the company sold mailing lists of university faculty to textbook publishers. In 1986, after a leveraged buyout, David Wetherell became CEO, and the company became known as CMGI, Inc.

In February 1994, the company became a public company via an initial public offering. That same month, Wetherell founded BookLink, in which the company invested $900,000. BookLink was sold to America Online in November 1994, and the company used the proceeds of the sale to set up CMG @Ventures, a venture capital firm that invested in internet companies.

The company invested $1 million for an 80% ownership interest in Lycos, which was its most profitable investment. In 1997, the company invested in GeoCities and it also formed Navisite. In June 1999, the company agreed to acquire an 83% stake in AltaVista from Compaq for $2.3 billion. In September 1999, the company acquired AdForce for $500 million. In November 1999, Altavista acquired RagingBull.com after Wetherell noticed the website while on vacation.

In March 2000, the company acquired Yesmail. In April 2000, the company acquired uBid. In May 2000, the company acquired Tallan for $920M.

In August 2000, the company agreed to pay $7.6 million per year for 15 years for the naming rights of the home stadium of the New England Patriots. In August 2002, after the bursting of the dot-com bubble, the company modified the agreement and the stadium name was changed to Gillette Stadium.

In 2000, the company recorded a $661 million gain when Yahoo! acquired its interest in GeoCities. By that time, its stock price had declined 78% from its high earlier in the year. In February 2004, the company acquired Modus Media.

Later history

In September 2008, the company changed its name to ModusLink Global Solutions, Inc.

In December 2017, the company acquired IWCO Direct for $476 million in cash.

Read the full text

In February 2018, the company changed its name to Steel Connect, Inc.

In May 2023, Steel Holdings acquired majority control of the company and infused $200 million of cash into the company. The remainder was acquired in January 2025.

From Wikipedia’s article on CMGI, shared under CC BY-SA 4.0.6

Leadership

Who has led Steel Connect, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (26)

Former names

  • Steel Connect, Inc.Feb 28, 2018 to Jan 17, 20255
  • ModusLink Global Solutions IncSep 29, 2008 to Feb 26, 20185
  • CMGI INCFeb 12, 1999 to Aug 28, 20085
  • CMG INFORMATION SERVICES INCOct 7, 1994 to Jan 7, 19995

Timeline

  1. Jun 17, 2020New chief executive Fawaz Khalil becomes CEO23
  2. May 28, 2020New chief executive John Ashe becomes CEO22
  3. Jan 7, 2019New chief executive John Whitenack becomes CEO25
  4. Jan 4, 2019New chief executive Warren G. Lichtenstein becomes CEO24
  5. 2018Went public Listed on NASDAQ1
  6. Apr 21, 2016New chief executive James R. Henderson becomes CEO26
  7. Feb 4, 2013New chief executive J. Boucher becomes CEO27
  8. Aug 25, 2006New chief executive Joseph C. Lawler becomes CEO28
  9. 1986Founded Founded in Delaware1

Filings

262 filings to the SEC since October 2021: 8 annual reports, 10 quarterly reports, 46 major events, 125 insider forms, 16 large holders, 57 other. The latest 20:

  1. Aug 18, 2026N-PX EDGAR
  2. Aug 7, 202613F-NT EDGAR
  3. May 15, 202613F-NT EDGAR
  4. Feb 13, 202613F-NT EDGAR
  5. Mar 3, 2025N-PX EDGAR
  6. Jan 17, 202515-12G EDGAR
  7. Jan 6, 20254 OWNERSHIP DOCUMENT EDGAR
  8. Jan 6, 20254 OWNERSHIP DOCUMENT EDGAR
  9. Jan 6, 20254 OWNERSHIP DOCUMENT EDGAR
  10. Jan 6, 20254 OWNERSHIP DOCUMENT EDGAR
  11. Jan 6, 20254 OWNERSHIP DOCUMENT EDGAR
  12. Jan 6, 20254 OWNERSHIP DOCUMENT EDGAR
  13. Jan 6, 20254 OWNERSHIP DOCUMENT EDGAR
  14. Jan 6, 20254 OWNERSHIP DOCUMENT EDGAR
  15. Jan 6, 20254 OWNERSHIP DOCUMENT EDGAR
  16. Jan 6, 2025SCHEDULE 13D EDGAR
  17. Jan 2, 202525-NSE EDGAR
  18. Jan 2, 2025S-8 POS POST-EFFECTIVE AMENDMENT NO. 1 TO FORM S-8 EDGAR
  19. Jan 2, 2025SC 13E3/A AMENDMENT NO. 3 TO SCHEDULE 13E-3 EDGAR
  20. Jan 2, 20258-K CURRENT REPORT EDGAR

The 262 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

28 open-market trades by officers, directors and large owners since October 2021: 27 buys and 1 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jan 2, 2025LICHTENSTEIN WARREN GExec Chairman, Interim CEOSale182,526Form 4
Jan 2, 2025STEEL PARTNERS HOLDINGS L.P.DirectorBuy182,526Form 4
Sep 1, 2024HANDY & HARMAN LTD.DirectorBuy439,673$12.00$5.3MForm 4
Jun 21, 2024WF Asset Corp.DirectorBuy311$12.00$3.7KForm 4
Jun 18, 2024SPH Group Holdings LLCDirectorBuy6,371$12.04$76.7KForm 4
Jun 17, 2024SPH Group Holdings LLCDirectorBuy596$11.70$7.0KForm 4
Jun 13, 2024SPH Group Holdings LLCDirectorBuy4,800$11.93$57.3KForm 4
Jun 13, 2024Steel Partners Holdings GP Inc.DirectorBuy4,800$11.93$57.3KForm 4
Jun 12, 2024Steel Excel Inc.DirectorBuy13,908$11.66$162.2KForm 4
Jun 12, 2024STEEL PARTNERS HOLDINGS L.P.DirectorBuy13,908$11.66$162.2KForm 4
Jun 10, 2024Steel Excel Inc.DirectorBuy7,434$11.26$83.7KForm 4
Jun 10, 2024STEEL PARTNERS HOLDINGS L.P.DirectorBuy7,434$11.26$83.7KForm 4
Jun 5, 2024Steel Excel Inc.DirectorBuy1,323$10.50$13.9KForm 4
Apr 26, 2024Steel Partners Holdings GP Inc.DirectorBuy47,013$12.00$564.0KForm 4
Apr 25, 2024Steel Partners Holdings GP Inc.DirectorBuy62,000$11.99$743.6KForm 4
Apr 24, 2024Steel Partners Holdings GP Inc.DirectorBuy156,313$12.00$1.9MForm 4
Apr 18, 2024WF Asset Corp.DirectorBuy701,246$9.83$6.9MForm 4
Apr 12, 2024Steel Partners Holdings GP Inc.DirectorBuy6$9.35$56Form 4
Apr 11, 2024Steel Partners Holdings GP Inc.DirectorBuy23,698$9.44$223.7KForm 4
Apr 10, 2024Steel Partners Holdings GP Inc.DirectorBuy18,605$8.93$166.1KForm 4

All 28 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Sources

The numbers on this page point here. Each one links to the record it came from.

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