Boku reported H121 results in line with its recent trading update and management believes the company is on track to meet recently raised expectations for FY21. Building on the success of helping merchants gain mobile-centric customers through its direct carrier billing service, Boku has launched its Mobile First (M1ST) network to provide a single integration to multiple mobile payment methods. With mobile-based payments already outpacing traditional card-based payments in Asia, and growing fast
Companies: BOKU, Inc.
The high level of demand for digital content and online transactions has continued in H121, driving organic revenue growth of 21% y-o-y. Management is confident it will beat consensus revenue and adjusted EBITDA forecasts for FY21 and we have raised our estimates accordingly. Boku plans to increase investment in its product suite and sales and marketing to take advantage of the opportunities to help its merchant base access consumers using a range of mobile-based payment methods.
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Taylor Maritime Investments (TMIP.L) has joined the Main Market (Premium). The Company is an internally managed investment company with an Executive Team led by Edward Buttery. The Executive Team has to date worked closely together for the Commercial Manager, Taylor Maritime. Established in 2014 by Edward Buttery, Taylor Maritime is a privately owned ship-owning and management business with a seasoned team that includes the founders of dry bulk shipping company Pacific Basin Shi
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Semper Fortis Esports* recently announced its intention to IPO onto the Access Segment of the Aquis Stock Exchange Growth Market. Semper is a multi-operational Esports organisation focusing on gaming technology solutions, brand enhancement and high growth team infrastructures. The company plans to raise £2.5m to develop their three core areas of establishing an esports team, forming partnerships with brands for sponsorship and B2B consultancy services. The Board are highly experienced in spor
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Boku reported strong results for FY20, with adjusted revenue and EBITDA growth of 20% and 106% respectively. The Payments business benefited from increased consumer demand during the pandemic, while the Identity business had a more difficult year. Trading year to date has been strong for both businesses and management is confident of meeting expectations for FY21. We have made minor changes to our FY21/22 forecasts. The evolution of the platform to address the wider alternative payments market p
Boku continued to see strong demand after its early December trading update, finishing the year with revenue and EBITDA ahead of consensus expectations. The Payments business was the driver of revenue upside, and lower costs in both businesses contributed further to EBITDA upside. We have revised our forecasts to reflect the strong H220 performance, upgrading FY20 normalised EPS by 15.5%. We maintain our FY21/22 forecasts as we expect the company to revert to pre-COVID-19 spending behaviour when
Further media reports that Dr Martens, the British Boot brand is planning an IPO on the LSE. It is currently owned by PE group, Permira who is expected to sell down its stake at the IPO. March 2020 YE the group had revenues of £672m and EBITDA of £184m. Deal size TBC. Upon Admission to AIM, Nightcap will acquire The London Cocktail Club Limited (the "London Cocktail Club"), which is an award winning independent operator of ten individually themed cocktail bars in nine London locations and one lo
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Boku has released a trading update confirming that EBITDA is likely to be ahead of consensus expectations for FY20. As most of the upside is due to COVID-19-related cost savings, we have upgraded our FY20 EBITDA and EPS forecasts by 10% and 15%, respectively. We leave our FY21/22 forecasts unchanged, pending a more detailed trading update in January that will cover the busy December holiday season.
Restrictions relating to COVID-19 have had a mixed effect on Boku’s H120 performance, with the Payments business benefiting from increased demand for digital content, while some Identity customers saw weaker demand for their services. Despite this, Boku reported adjusted revenue growth of 9% y-o-y and, demonstrating the operational leverage of the business, adjusted EBITDA growth of 84% y-o-y. With guidance unchanged for FY20, we maintain our EBITDA forecasts.
Boku expects to report H120 revenues of at least $24.7m. The Payments business has benefited from increased demand for digital content during lockdown, whereas the Identity business has seen weaker demand due to COVID-19 disruption. Management expects to at least meet consensus EBITDA estimates for FY20, with growth in adjusted EBITDA of at least 65% for the year. We have made minor changes to our forecasts to reflect the relative strengths of the two businesses.
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RBG’s interims offer no surprises, with performance strong across all divisions and progress on track against our FY21e forecasts (Revs: £45.5m, Adj. EBITDA: £11.8m). The Group’s diversified revenue model has proved resilient against a continued backdrop of uncertainty – driving revenues +53% YoY against a somewhat weak comparative, split +35% organic, +18% from Memery Crystal (despite only one month of contribution). Demand for services across all three businesses remains strong, and management
Companies: RBG Holdings Plc
Water Intelligence has released very strong interims and we upgrade our FY21 PBT forecast by +7%. Revenues leapt +44% in H1, with good growth in all areas and particularly strong progress in corporate-owned locations, and Adjusted PBT was +77% higher at $4.2m. The group was active corporately in H1 with several franchise reacquisitions and the extension of activities into plumbing and irrigation & stormwater run-off. Water Intelligence signed four further national insurance contracts and commerc
Companies: Water Intelligence plc
WATR continues to punch ahead with strong results, as reflected in this morning's H1-21E announcement, showing H1 revenue growth of 44% YoY (notwithstanding strong comparators) and adj. PBT up 77%. WATR supplies water leak detection and remediation services both across the whole of the US and in certain international markets – holding a small but rapidly expanding share of a huge, multi-billion $US market. Highly impressive 5-year CAGR rates of 33% (revenues) and 53% (PBT) evidence the strength
What’s new: Fintel has signed a 5 year distribution partnership with Tatton Asset Management (c £7m fintech and distribution agreement) and agreed to sell its Verbatim Funds for £5.8m cash consideration of which £2.8m is on completion and £3.0m is subject to performance.
Companies: Fintel PLC
WATR has lifted the curtain on its H1-21E results with a strong, buoyant and confident update. H1 revenue growth hit 44% in the first half – and this was after a strong H1, despite Covid, in the prior year. WATR supplies water leak detection and remediation services across the whole of the US, and also in notable international markets, a massive market valued (US alone) at $US13bn-plus overall. Strong demand characteristics, based on need, combined with a sophisticated and market-leading bu
Exactly one year ago, the FTSE 100 closed at 5,862, having fallen 100 points on the day, the lowest point since mid-May 2020, due in part, to the strength of sterling vs US$ at $1.34. One year on, the FTSE 100 has risen to 7,119, a rise of 21%, it remains 7% below the peak in January 2020. From an international viewpoint, US and European markets continue to trade at record highs. The US Federal Reserve is close to withdrawing some of its economic support this year as inflation picks up and the e
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AEX Gold (AEXG LN) – Further management changes at AEX to drive development of new plan
Altus Strategies* (ALS LN) – Valuation 125p – First Caserones NSR royalty payment in respect of Q2/21 expected this month
Beowulf Mining* (BEM LN) – CEO letter to Minister Baylan regarding Kallak
Bluejay Mining* (JAY LN) – Valuation 37.7p – Interims highlight activity towards development of the Dundas ilmenite mine and other exploration
Caerus Mineral Resources (CMRS LN) – Progress report on prospective j
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Companies: Ricardo plc
Today’s update reconfirms the integration of Memery Crystal is well underway, with the wider group on track to meet forecasts, upgraded at the time of deal completion (FY21 SCMe: Revs £45.5m, Adj. EBITDA £12.6m). As was originally communicated, Memery Crystal (“MC”) will sit alongside Rosenblatt (“RBL”) within the Group’s new legal services entity RBG Legal Services Ltd (“RBGLS”); it will, however, maintain its separate brand identity to capitalise on market positioning. All support functions, i
Anexo has reported a strong set of interim results for the 1st half of FY21, highlighting the underlying strength, resilience and opportunity in the business. This is particularly encouraging given that a significant portion of trading (5 out of the 6 months) this half was significantly impacted by Covid-19 restrictions and thus we see an excellent outlook for the Group. Buy.
Companies: Anexo Group Plc
Bioventix delivered a very credible set of interims given the impact of COVID-19 on the broader IVD market. Revenues rose 1% resulting in an adjusted pre-tax profit and adjusted EPS falling 7% and 9% to £3.9m and 61.5p, respectively. An interim dividend of 43p was declared (+19%) with net cash at period end of £5.8m. Vitamin D antibody sales/royalties were c.£2.3m (up c.4% on H2 FY 2020), with troponin more than doubling to c.£0.3m and the balance of its portfolio up c.8%. The macro outlook for
Companies: Bioventix Plc
NFT Investments plc is an investment company that specialises in non-fungible tokens (NFT). Has applied for admission to the Access segment of the AQSE Growth Market. No funds being raised. Due 16 April. Thor Explorations (TSXV:THX) seeking a secondary listing on AIM. The Company is targeting Admission during Q2 2021. Segun Lawson, President & CEO, stated: “Thor Explorations has advanced significantly, in both project development and capitalisation since the acquisition of Segilola in 2016. T
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Open Orphan has announced that it has signed an £8.1m contract with a major global pharmaceutical company to test its inhaled hRV antiviral product using the hVIVO Asthma Human Challenge Study Model. The study is expected to commence in H1 2022 with revenue to be recognised across 2021 and 2022 and continues to demonstrate the increasing value and breadth of challenge study contracts that the Group is pursuing and winning. In our view, the stock's sharp pullback in recent months represents a str
Companies: Open Orphan Plc
Biome Technologies (Biome) reported LBITDA for the half year of £520k (H1 2020 restated: £448k) and continues to trade in line with our forecasts which were amended following the July trading update. The Bioplastics division continues to see a healthy level of orders and enquiries and the opportunity pipeline is increasing. Revenues in the Stanelco RF division were relatively stable given the cyclical downturn in demand for fibre optic cable and there are early signs that demand is beginning to
Companies: Biome Technologies PLC
PCI_PAL yesterday confirmed the payment of a special dividend of 3.16 pence per share to shareholders on the register as at 18 November. This amounts to a total of £1,002,389.22 and will be paid in December 2016. As previously indicated, forecasts will be introduced when we have greater visibility of management’s plans around investment and strategic growth initiatives.
Companies: PCI-PAL PLC