Future First Technologies Limited (ASX:FFT) is building a portfolio of digital assets that seek to make life simpler and safer. The company owns two key businesses, farmbuy.com and Asset Vision, which it respectively acquired in April and November 2020, and an 8.8% stake in fintech start up 1derful.com.au. The company has announced better than forecast sales revenues of $1.5m for FY21, versus our forecast for $1.2m. The adjusted EBITDA loss for the year was $1.5m, substantially better than our forecast for an operating loss of $3.2m. FY21 was a transformative year for the company, and its first year as a SaaS-focused digital technology company. Future First provided guidance in its presentation on the revenues and gross profits it expects to generate from Asset Vision from FY22 to FY25 and we have incorporated this into our forecasts, resulting in upgrades to our revenue forecasts for those year and EBITDA forecasts in FY24 and FY25. As a result, our base case DCF valuation has increased to $0.31/share (previously $0.24/share) fully diluted for share based earnouts
02 Sep 2021
Upgrading forecasts & valuation on Asset Vision guidance
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Upgrading forecasts & valuation on Asset Vision guidance
Asset Vision Co Ltd (ASV:ASX) | 0 0 5.7% | Mkt Cap: 22.7m
- Published:
02 Sep 2021 -
Author:
Finola Burke -
Pages:
7
Future First Technologies Limited (ASX:FFT) is building a portfolio of digital assets that seek to make life simpler and safer. The company owns two key businesses, farmbuy.com and Asset Vision, which it respectively acquired in April and November 2020, and an 8.8% stake in fintech start up 1derful.com.au. The company has announced better than forecast sales revenues of $1.5m for FY21, versus our forecast for $1.2m. The adjusted EBITDA loss for the year was $1.5m, substantially better than our forecast for an operating loss of $3.2m. FY21 was a transformative year for the company, and its first year as a SaaS-focused digital technology company. Future First provided guidance in its presentation on the revenues and gross profits it expects to generate from Asset Vision from FY22 to FY25 and we have incorporated this into our forecasts, resulting in upgrades to our revenue forecasts for those year and EBITDA forecasts in FY24 and FY25. As a result, our base case DCF valuation has increased to $0.31/share (previously $0.24/share) fully diluted for share based earnouts