Sumo has delivered a solid set of interim results this morning, achieving revenue growth of 6.1% YoY while gross profit increased 13.6% YoY as the gross margin expanded from 43.6% to 46.3%. We tweak our forecasts, adjusting our revenue mix, assuming higher development fees through the forecast period, headline adj. EBITDA forecasts are unchanged. We remain positive on Sumo’s investment case with the Group continuing to see good levels of demand with earnings visibility for FY20 already
26 Sep 2019
Fundamentals remain attractive
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Fundamentals remain attractive
- Published:
26 Sep 2019 -
Author:
Bob Liao, CFA -
Pages:
9
Sumo has delivered a solid set of interim results this morning, achieving revenue growth of 6.1% YoY while gross profit increased 13.6% YoY as the gross margin expanded from 43.6% to 46.3%. We tweak our forecasts, adjusting our revenue mix, assuming higher development fees through the forecast period, headline adj. EBITDA forecasts are unchanged. We remain positive on Sumo’s investment case with the Group continuing to see good levels of demand with earnings visibility for FY20 already