1H24 EBITDA reduced from £-4.2m to £-0.5m - reflecting a renewed focus on profitability, while ARR stabilised (following -9% in the PY). Headline revs however fell by -5% cc., as non-recurring (installation) services declined -35%, driven by a capital constrained market a trend we expect to continue, hence reduce FY24e revs 13% to £23.1m, though keep cash expectations materially unchanged. We also update FY25e sales (for this same reason) and to reflect a greater focus on essensys Platform (and ....
30 Apr 2024
Becoming pure-play SaaS, with a focus on cash
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Becoming pure-play SaaS, with a focus on cash
essensys PLC (ESYS:LON) | 17.8 0 0.0% | Mkt Cap: 11.5m
- Published:
30 Apr 2024 -
Author:
Harold Evans -
Pages:
3
1H24 EBITDA reduced from £-4.2m to £-0.5m - reflecting a renewed focus on profitability, while ARR stabilised (following -9% in the PY). Headline revs however fell by -5% cc., as non-recurring (installation) services declined -35%, driven by a capital constrained market a trend we expect to continue, hence reduce FY24e revs 13% to £23.1m, though keep cash expectations materially unchanged. We also update FY25e sales (for this same reason) and to reflect a greater focus on essensys Platform (and ....