Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on Big Sofa Technologies Group. We currently have 12 research reports from 3 professional analysts.
Voyager AIR The Company will focus on the acquisition, leasing and management of primarily widebody aircraft, with asset management services to be provided by Amedeo Limited the IPO will comprise a Placing and Offer for Subscription of Shares to raise up to approximately US$200m. Uniphar, a diversified healthcare services business with a workforce of over 2,000, is looking to join AIM. Raising EUR135m with market cap on admission of EUR309.6m, expected 17 July 2019. Roxi Music UK music streaming service plans London IPO as it goes up against Spotify. They have appointed investment bank Arden Partners for an initial public offering (IPO) on the London Stock Exchange later this year.
Companies: CALL BIRD ABC KDR EMAN BST SCE ZEG SAG FUL
Alumasc Group plc, the prem ium building products, system s and solutions group, has announced its intention to m ove from the Premium Segment of the main market to AIM. Expected market cap of £33.4m. Expected 25 June 2019 Argentex a UK-based forex service provider founded in 2011 by its current management team which operates as a Riskless Principal for nonspeculative and forward foreign exchange as structured financial derivatives is looking to join AIM. Offer TBC, expected 25 June
Companies: IRR PCIP ANA SLNG SOG ALS BST KWS EMAN ASO
Essensys plc—a provider of mission-critical SaaS platforms and on-demand cloud services to the high growth flexible workspace industry, plans to join AIM. £28m raised. Half primary, half shareholder sell down expected 29 May 2019. Mkt cap £72.6m. Issue price 151p. SDX Energy plc—a North Africa focused oil and gas company, announces its intention to complete a Canadian plan of arrangement under section 192 of the Canada Business Corporations Act and will have shares de-listed from the TSX-V and admitted to trading on AIM. Expected 28 May 2019, anticipated market cap of £76m Renold plc—a leading international supplier of industrial chains and related power transmission products, announced that it will cancel the listing of the Company from the premium segment and apply for admission on AIM. Expected 06 June 2019. Alumasc Group plc, the premium building products, systems and solutions group, has announced its intention to move from the Premium Segment of the main market to AIM. Expected market cap of £33.4m. Expected 25 June 2019
Companies: GTC TCM MTFB BST CDM HSP INL DOTD C21 GGP
PetroTal Corp is an oil and gas company whose shares are currently admitted to trading on the TSXV. The Company is focused on development of oil and gas assets in Peru and it currently has controlling interests in three onshore Peru license blocks. No new funds being raised. Due 21 Dec. Mkt cap c.£80m Litigation Capital Management—provider of litigation financing and ancillary services, moving from ASX (ASX:LCA) to AIM. Offer TBC. Due 18 Dec. Mkt Cap A$64m. Crossword Cybersecurity PLC* (NEX:CCS)—the technology commercialisation company focusing exclusively on the cyber security sector is due to start trading on AIM 14 December. Raising £2m at 290p. Mkt cap at issue price £13.6m. Manolete Partners—leading UK insolvency litigation financing business looking to join AIM raising £16.3m as a placing and £13.1 realised by the selling shareholder at 175p. Market cap £76.3m, expected 14 December Greenfields Petroleum (TSX-V:GNF) production focused company with operated assets in Azerbaijan seeking AIM dual listing including $60m private placement. Mkt cap $12.6m CAD. Expected early December.
Companies: PHTM CORO AVCT BST ACC PRES ING BOWL KMK SPSY
PetroTal (TAL.TO) - The exploration and production company focused on oil assets in Peru is seeking a secondary AIM quoting before the end of 2018. Path Investments— First acquisition of a 50 per cent. participating interest in the producing Alfeld-Elze II gas field located 22 kilometres south of Hannover in Germany. Seeking £10m raise. Due early Oct Green Man Gaming—pure play e-commerce and technology company in the digital video games industry. revenue CAGR growth of 26.7% in the last three years to £47.5m. Due Mid October 2018. EBITDA Profitable. Offer TBA Crossword Cybersecurity PLC* (NEX:CCS)—the technology commercialisation company focusing exclusively on the cyber security sector is exploring its options in relation to a potential move to the AIM market of the London Stock Exchange which, if it were to proceed, would likely take place over the next few months.
Companies: SAR DISH BZT BST STX CAS ECK ABAL STAF TSI
Green Man Gaming—pure play e-commerce and technology company in the digital video games industry. revenue CAGR growth of 26.7% in the last three years to £47.5m. Due late Sep. EBITDA Profitable. Offer TBA Crossword Cybersecurity PLC* (NEX:CCS)—the technology commercialisation company focusing exclusively on the cyber security sector is exploring its options in relation to a potential move to the AIM market of the London Stock Exchange which, if it were to proceed, would likely take place over the next few months. Path Investments (PATH) -RTO of a 50 per cent. participating interest in the producing Alfeld-Elze II gas field located 22 kilometres south of Hannover in Germany. Seeking £10m. Offer TBA. Due Mid September Kropz PLC-Intention to float by the emerging plant nutrient producer with an advanced stage phosphate mining project in South Africa and exploration assets in West Africa
Companies: CORO GINV QUIZ IMMO AVG PHP KNOS HYNS IDEA BST
We believe Big Sofa’s unique technology and partnership with Ipsos positions the group well to exploit the accelerating adoption of video analytics for consumer insights. Consumer companies are vying for a competitive advantage from technology in an effort to cut costs and improve sales while agencies face a stagnating market. Big Sofa offers unique insights for both channels through its market-leading video analytics tools, which leverage AI, Big Data and IoT. We believe the group’s ability to capture and grow its commercial pipeline (see below) is underappreciated. We initiate coverage with a Buy rating and a 12-month price target of 18p, expecting a re-rating as commercial traction grows.
Companies: Big Sofa Technologies Group
Nucleus Financial—independent wrap platform provider . FYDec17 revs £40.36m and PBT of £5.1m. Offer TBA. Due late July. Kropz PLC-Intention to float by the emerging plant nutrient producer with an advanced stage phosphate mining project in South Africa and exploration assets in West Africa Immotion Group - aims to become the market leader in "out of home" Immersive Entertainment Experiences. Offer TBA. Due 12 July Yellow Cake will use its expertise to generate value through the ownership of physical U3O8 (Uranium) together with a range of activities and opportunities connected with owning physical U3O8. Acquiring supply contract for up to $170m. Due Early July. Strongbow Exploration (TSX:SBW) intends to dual list on AIM. Holds rights to the South Crofty underground tin mine, a former producing tin mine located in the towns of Pool and Camborne, Cornwall . The project is estimated to require the Company to raise £25 million over the next 18 months to progress to a production decision. Offer TBS. Due June.
Companies: AST BST MMH EUA ANGS IMO APC UTW
Block Energy—a NEX Listed UK based oil exploration and production company whose main country of operation is the Republic of Georgia, looks to join AIM end of February 2018. Offer TBC OnTheMarket—Intention to float on AIM to raise c.£50m which will be used to fund the growth of the OnTheMarket.com portal, already the third biggest UK residential property portal provider. Offer raising £30m at 165p with mkt cap of £100m . Due 9 Feb.
Companies: BOTB VLG MAFL RNWH WSG TPFG BST OCI PPH ECHO
Cradle Arc—holding company of a group of companies focused on the exploration and development of precious and base metals projects in Africa. Offer raising £2.4m with market cap of £20.25m. Expected 10 Jan 2018 Volex VLX.L—The global provider of cable assemblies is proposing to move from the main market to AIM on 19 January. £75m market cap. FYMar18E rev £241.5m and £7.19m PBT. OnTheMarket—Intention to float on AIM to raise c.£50m which will be used to fund the growth of the OnTheMarket.com portal, already the third biggest UK residential property portal provider. Expected valuation £200m to £250m.
Companies: PLUS WAND BST PANR CNS AGM FOX BNN
appScatter Group—Sch1 from the B2BSaaS platform that allows its paying users to distribute their apps to, and manage their apps on, multiple app stores Following admission, appScatter intends to launch the public version of the platform, at which point the platform will be available to all app developers and publishers worldwide. Offer TBC, expected early Sept 2017 | Warehouse REIT - The Company will invest in a diversified portfolio of UK warehouse assets located in urban areas. The Company is targeting a dividend yield of 5.5p equivalent to a yield of 5.5 percent. for the year ending 31 March 2019. Issue price 100p. Raising up to £150m. | Destiny Pharma—A clinical stage biotechnology company - lead asset (XF-73) targets antibiotic-resistant bacterial infections in hospitals. Offer TBA. Due early September. | Avingtrans (AVG.L) Sch1 on its Reverse Takeover of Hayward Tyler (HAYT). Combined market cap of c.£75m. Expected 01 September 2017 | OnTheMarket—Intention to float on AIM to raise c. £50m which will be used to fund the growth of the OnTheMarket.com portal, already the third biggest UK residential property portal provider. Expected valuation £200m to £250m.| Hipgnosis Songs Fund investment Company offering pure-play exposure to Songs and associated musical intellectual property rights. Offer raising £200m at 100p. The Company has decided to extend the closing date for the Placing, Offer for Subscription and Intermediaries Offer to 1 August 2017. The Company may bring forward this closing date at any time. Admission 15 September 2017
Companies: OMI BST JAY OMI HUM IGE MPE MIRA
Audioboom plc (BOOM.L, 2.2p/£20.5m) Podcaster subscription service | Eckoh plc (ECK.L, 47.3p/£115m) CME: US focus | Gfinity plc (GFIN.L, 19.75p/£37.3m) Further partner agreement with Microsoft | Big Sofa plc (BST.L, 25.75p/£14.6m) Prelims: Progress in 2017
Companies: ECK GFIN BST BOOM
Research Tree provides access to ongoing research coverage, media content and regulatory news on Big Sofa Technologies Group. We currently have 12 research reports from 3 professional analysts.
|10Sep19 08:00||RNS||Statement re Press Comment|
|12Aug19 13:03||RNS||Holding(s) in Company|
|16Jul19 07:00||RNS||Service agreement from a global technology company|
|11Jul19 07:00||RNS||Trading Update|
|12Jun19 07:00||RNS||Trading Update|
|22May19 07:00||RNS-R||Ipsos: product co-development and embedding|
|24Apr19 15:31||RNS||Holding(s) in Company|
Stripe Inc said on Thursday it is raising $250 million in its latest funding round, which values the payments start-up at $35 billion, a dramatic 56% surge from a previous valuation at the start of the year. The latest valuation puts Stripe in the same league as home rental giant Airbnb Inc, which is also planning go public in 2020. Stripe has received strong positive feedback from our private FinTech contacts. Meanwhile, the IPO pipeline for 2020 is already heating up.
Companies: CALL TRAK BGO BOKU ECK EQLS LOOP NET QTX SEE TECH TCM TRCS
We believe Seeing Machines' FY19 results show the turnaround in the Fleet business and the FY20 revenue guidance of A$45-50m, equivalent to 40-56% revenue growth on FY19, demonstrates the renewed confidence of the company under new CEO, Paul McGlone. The guidance is underpinned by recurring revenues (expected to represent c40% of FY20E revenue) and a new bottom-up sales model which, we believe, is conservative and leaves upside from licensing activities in Aviation and Off-road niche markets. We believe the turnaround in Fleet will drive the company to profitability in under two years with the cash runway looking sufficient even before accounting for licensing deals or financing against recurring revenues. Seeing Machines now looks well positioned to deliver significant value from its technology leadership and we upgrade our target price to 12p.
Companies: Seeing Machines
These are exciting times for Bango as it matures and expands. After many years building merchant and carrier connections and volumes, the payment processing platform has reached profitability and will rapidly scale revenue on a fixed cost base. The data business is a natural evolution, driving greater payment volumes in a steadily accelerating virtuous circle; adding more data sources will spin it ever faster. Well-managed by an experienced team and uniquely positioned in a high growth industry, we launch coverage with the Interims in a seminal year: Bango is now fully funded and its revenues continue to grow rapidly, targeting breakeven this year and promising significant cash profits from next. We feel the market has yet to fully appreciate the exciting prospects for Bango and set a 225p target price.
Tech IPOs year to date have performed well. 8/13 venture-backed tech IPOs this year, including Slack's direct listing, are in profitable territory. If you'd put $1 million into each of them at the IPO price, your $13 million initial investment would be worth $21.7 million - a 67% gain compared to +20% performance in the S&P 500 YTD. As we’ve discussed earlier this month, investors’ appetite for technologies leveraging secular trends appears undiminished
Companies: TRAK CPX SEE QTX
Bango has announced solid H1 2019A results in our view, with momentum remaining strong. At £467m, End User Spend (“EUS”) was confirmed as having more than doubled for a fifth consecutive year, and underlying opex levels remain broadly stable. A further highlight was the positive contribution from the data business, which now contributes over 25% of group revenue. We make revisions to FY 2019E earnings estimates following the release, noting, inter alia, Bango’s continuing commitment to investment in R&D to support its innovative product development. We also introduce FY 2020E forecasts for the first time which reflect the fruits of that investment.
ZOO has delivered a strong AGM update, highlighting a solid performance in H1 to date, with profitability buoyed by high-margin technical work. The industry appears to be (albeit very slowly) establishing procurement platforms to build and manage the multiple new systems needed in the rush to direct-to-consumer models. We make no changes to forecasts, but look forward to further announcements during H2 and beyond.
Companies: Zoo Digital Group
Facebook has been working to develop augmented reality glasses out of its Facebook Reality Labs in Redmond, Washington, for the past couple of years, but struggles with the development of the project have led the company to seek help. Now, Facebook is hoping a partnership with RayBan parent company Luxottica will get them completed and ready for consumers between 2023 and 2025, according to people familiar. Needless to say, we highlight a potentially substantial threat to Snap Inc, and a potentially huge opportunity for developers within the Facebook ecosystem.
Companies: EVRH ESYS BGO BOKU EQLS IMMO SMRT TECH VRE
Double digit first half revenue growth was driven by SEND services revenues doubling, Informatics sales up nearly 50% and a record number of new Provantis clients signed up in the period. This strong demand across the board and an increasing willingness to adopt hosted SaaS solutions bodes well for the outlook and leads to modest outer year upgrades, albeit with a small impact on PBT this year. In our view, the valuation remains undemanding given the significant growth opportunities ahead and the increasing quality of earnings. Our estimate of fair value is 425p.
ECSC Group plc* (ECSC.L, 72.5p/£6.6m) Interims: Managed Serivces boosts margins; positive start to H2 (11.09.19) | The Character Group plc* (CCT.L, 360p/£77m) Pre-close update: Scandinavia disappoints (13.09.19) | MTI Wireless Edge Ltd* (MWE.L, 29.5p/£25.8m) Contract win: Scope for growth (16.09.19)
Companies: ECSC CCT MWE
The Interims have been brought forward in light of a warning on H2. Quixant had previously flagged that 2019 would be heavily H2-weighted and H1 is weak but in line with expectations. However, a recent review of customer intentions reveals that H2 orders will not meet expected volumes. The global gaming machine market is still healthy but key customers (notably Ainsworth) have lost significant market share to Aristocrat in Australia and N. America. We cut our FY 2019 and FY 2020 forecasts; however, no customers have been lost and the concentration is much reduced while the long-term growth potential and cash generation remains strong.
TVs have joined the ranks of websites, apps and credit cards in the lucrative business of harvesting and sharing user information. Whilst TV records may not contain sensitive search queries or financial data, they are able to store data on user interests, personality, joys and embarrassments, as tens of millions of users have given TV brands permission unknowingly. Many TV makers say tracking what users watch helps provide personalized recommendations. However, there is much belief that TV tracking is mostly about filling in a missing chunk of data which is only useful for advertisers and media companies.
Companies: 7DIG KAPE ZOO AMO EYE MIRA
Eckoh has released a short AGM statement, confirming good revenue growth in both the UK and US through the first five months of the year. The level of new business contracted so far is “encouraging” and the group is trading in line with our recently upgraded expectations. The shares trade on a FCF yield of 4.8% rising to 6.1% in FY’21 and we continue to be excited about the group’s growth prospects. With strong underlying momentum in both divisions, a large untapped opportunity in US Secure Payments, and excellent revenue visibility, we believe the shares are highly attractive.
Instem has announced solid H1 2019A results in our view. All three business areas performed well during the period, with the group once again reporting strength across the board. The Provantis and Notocord suites recorded impressive growth, as did SEND services. We make minor revisions to estimates following the announcement, reflecting the adoption of IFRS16, the ongoing transition to SaaS delivery and revised cost expectations.
Like whales feasting on Krill, overseas firms are today stuffing themselves silly with choice fillets of corporate Britain. Why? Well look no further than geopolitical tensions and Brexit, which have disproportionately impacted UK equities and the £. Indeed the FTSE100 has lagged the S&P500 by a hefty 19% over the past 2 years, with Sterling dropping to 34 year lows vs US$ (see below). That said to us, based purely on fundamentals, this period of underperformance appears over-cooked, leaving many quality British companies vulnerable to predatory interest.
Companies: VOD AV/ AGK CHG CNA ITV BRBY SMIN CTEC SXS OXIG MGAM IMI WEIR WMH KMK EYE GATC ULS INS ALFA RDT TSTL ELCO MBH BLTG IHC 9537 CSRT NBI
Beeks Financial Cloud has announced full year results for period to 30 June 2019, with revenue up 32% to £7.35m and annualised monthly committed recurring revenue (ACMRR) also up 32% to £9.1m. Three Tier 1 financial services clients were signed during the year including a major insurance company, a global bank and a global investment management organisation. The number of institutional customers has increased to 220 from 192 in 2018, with the commencing entry level monthly average spend up 175% (to £2,200). Now beginning to establish itself within the large tier financial services market, we expect the number and scale of these relationships to be potentially transforming for Beeks. With our forecasts based on established growth trends, such potential could provide further upside to our forecasts and with the shares currently trading at 11.0x 2020E EV/EBITDA, 21x PE, PEG ratio of 0.54 (2020/21) and a prospective 0.9% yield, we remain buyers.
Companies: Beeks Financial Cloud