With a number of metrics already released in the January trading update, StatPro’s FY14 results reflect the continued progress in the Group’s strategy to transition to a purely cloud-based provider of analytics services. Revenues and costs (less so) are slightly higher than our estimates producing Adjusted EBITDA of £4.36 million - some 4% better than our estimate of £4.2 million. That includes a previously-flagged one-off charge of around £0.3 million relating to an office lease. The dividend increased by 4% to 2.9p. Crucially, the year saw StatPro Revolution increase its annualised recurring revenue significantly. January’s contract announcement had already emphasised the benefits of the cloud platform. The outlook commentary is understandably upbeat. We raise revenue estimates by 2% for FY15 but slightly higher cost assumptions leave Adjusted EBITDA unchanged. We introduce our FY16 numbers.
11 Mar 2015
Revolution’s progress continues
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Revolution’s progress continues
Statpro Group (SOG:LON) | 0 0 (-0.8%) | Mkt Cap: 159.5m
- Published:
11 Mar 2015 -
Author:
Gareth Evans -
Pages:
7
With a number of metrics already released in the January trading update, StatPro’s FY14 results reflect the continued progress in the Group’s strategy to transition to a purely cloud-based provider of analytics services. Revenues and costs (less so) are slightly higher than our estimates producing Adjusted EBITDA of £4.36 million - some 4% better than our estimate of £4.2 million. That includes a previously-flagged one-off charge of around £0.3 million relating to an office lease. The dividend increased by 4% to 2.9p. Crucially, the year saw StatPro Revolution increase its annualised recurring revenue significantly. January’s contract announcement had already emphasised the benefits of the cloud platform. The outlook commentary is understandably upbeat. We raise revenue estimates by 2% for FY15 but slightly higher cost assumptions leave Adjusted EBITDA unchanged. We introduce our FY16 numbers.