Technology

Technology equity research

Explore the most viewed and latest equity research and media content for companies within the Technology sector. Stocks in this sector focus on IT Services, Web Development, Software Development, and IT hardware.

06 Aug 20

Teams spirit

LoopUp recently unveiled a major extension to its ambitions – the group is aiming to become a leading global provider of telephony “inside” Microsoft’s Teams product. The opportunity is clear and growing, as enterprise customers look to use Teams for “normal” external phone calls, and LoopUp seems well placed to deliver a differentiated offering using its existing infrastructure and knowhow. In this document we provide an overview of the new platform and explain its strategic significance.

Companies: LoopUp Group plc

03 Aug 20

Signs Softcat as a reseller, momentum elsewhere

Smartspace released positive news for both Space Connect and SwipedOn on Friday, sending the stock nearly 50% higher. Space Connect has signed a distribution agreement with Softcat and the SwipedOn has posted 80% yoy growth in AAR. Encouragingly too, SMRT also flagged current net cash at £1.7m (vs. £1.9m in April) demonstrating impressive reliance despite a challenging macro backdrop. In fact, SMRT has adapted quickly and is proving a ‘Covid beneficiary‘, seeing strong inbound demand as customers look for safe news ways to conduct business. Reassured by this, we continue to believe that Space Connect and SwipedOn could be worth considerably more than the current market cap.

Companies: Smartspace Software Plc

03 Aug 20

SP Angel Healthcare Conditions

RenalytixAI (RENX.L): KidneyIntelX to be used in study investigating kidney risk in COVID-19 Patients

Companies: Renalytix AI Plc

29 Jul 20

Cenkos: Pelatro Plc -- Expansionary raise

Pelatro has raised $2.7m in an equity Placing to fund an expansion in sales headcount and marketing activities in order to further expand the business, subject to shareholder approval. The product suite is fully developed and ready to be taken to a much broader set of customers. The beneficial impact of this expansion should be felt from the end of 2021E onwards.

Companies: Pelatro Plc

04 Aug 20

Reassurance on the FY 20E outcome

We believe Beeks has issued a reassuring update on business performance for the twelve months ending 30 June 2020. Management expects to report FY 20E trading results within the range of current market expectations. The sales pipeline continues to grow, and implementations with existing Tier-1 clients are progressing according to plan. Beeks has also announced that COVID-19 has so far had only a minimal impact on the group but signals that some clients decision-making processes have been altered. We maintain our FY 20E estimates following the release but amend FY 21E forecasts reflecting revised assumptions on timing of revenues from new Tier1 clients.

Companies: Beeks Financial Cloud Group Plc

03 Aug 20

Allenby Capital TMT Update 03.08.20: BIRD.L, SWG.L, TPX.L

Blackbird plc* (BIRD.L, 17.5p/£58.8m) | Shearwater plc (SWG.L, 185p/£43.9m) | The Panoply Holdings plc (TPX.L, 92.5p/£51.3m)

Companies: BIRD SWG TPX

04 Aug 20

FY 2020 leaves Filtronic well positioned for growth

The FY 2020 results are broadly in line with the YE trading update, showing resilience and effective management through a challenging period. Even with the distraction of settling a warranty claim, the sale of the antenna business, management change, and finally a pandemic, the ongoing business still grew revenue and profits YoY. The sale allows FTC to focus on core markets: public safety; aerospace & defence; and telecoms backhaul. The proceeds funded significant investment in staff, production capability, and product development while still leaving £2m cash in the bank at YE. Operations continued through lockdown, with all customer requirements delivered on time. Delayed deliveries are recommencing, with staff steadily returning from furlough. Contract wins have been impressive through the year, and despite orders slowing in the Q4 lockdown, the YE orderbook matches the opening orderbook and was since boosted by a £4.9m follow-on order to its lead defence customer. Management rightly remains cautious on the immediate outlook with the economic impact of COVID (and Brexit in January) as yet unknown, so our forecasts remain Under Review. However, in the longer term, the underlying fundamentals look very healthy, with exciting opportunities to build value in the targeted markets.

Companies: Filtronic Plc

04 Aug 20

WHI First Light: Immotion Group (IMMO) - Mandalay Bay site now open with improved terms

Immotion is a leading UK-based ‘out of home' Virtual Reality (VR) experience provider. This morning, the group has announced that its 36 seat Ocean Explorer VR theatre located in the Shark Reef Aquarium at Mandalay Bay opened on 1 August and with an improvement in terms for Immotion. Under this new agreement, the element of the standard Shark Reef entry price being allocated to the VR experience has been set at $9 per head, of which Immotion receives 50%, and compares to the previously reported minimum allocation of $5/$2.50 per head. Encouragingly, the Shark Reef Aquarium re-opened to the public on 1 July and has a reported c.1,000 visitors per day (implying the equivalent of over £110k contribution to Immotion per month based on the current rate), which compares to the 500,000+ annually prior to COVID-19 (the equivalent of £150k+ per month to Immotion).

Companies: Immotion Group Plc

04 Aug 20

Cenkos: Shearwater Group Plc -- Cautious on Covid

Shearwater delivered adjusted EBITDA ahead of expectations. FY20A was a strong year with the Group delivering maiden profitability and an enhanced margin profile. Cybersecurity and resilience are enduring themes but we are now cautiously presenting a picture of unchanged profitability in FY21E as a measure against the impact of COVID-19.

Companies: Shearwater Group Plc

30 Jul 20

Still winning major deals

Sopheon has this morning announced a major win for Accolade – the global snack food giant, Mondelez. The deal is good evidence that Sopheon continues to win material deals despite the pressures of COVID-19, and that its innovation management platform is genuinely market-leading. We continue to believe that the group will see a return to strength as the market slowly recovers, and see today’s announcement as a useful signal.

Companies: Sopheon Plc

27 Feb 19

Cenkos: Beeks Financial Cloud Group Plc - Preparing for growth step change

Beeks Financial Cloud announced interim results for the period 31 December 2018 showing revenue up 36% to £3.5m and gross profit up 43% to £1.7m, with gross margin up to 49%. Beeks enjoys high levels of subscription based revenues, with annualised committed monthly recurring revenue up 26% to £7.5m. Institutional client revenues are around 90% of the total with around 99% of revenues of a recurring nature. We forecast FY19E revenue growth of 37% to £7.6m, slightly below our previous forecasts due to the timing of deployment of recent new, larger institutional client business. The sales pipeline is strong with the number of institutional clients increased to 210 in the period. Beeks achieved a milestone in December 2018 by signing its first Tier 1 institutional client, with more targeted in the sales pipeline.

Companies: Beeks Financial Cloud Group Plc

21 May 20

New COVID-19 workplace testing service

When in doubt about pandemics, ask an expert. One of the best being former FDA Commissioner Dr Scott Gottlieb (non-exec director of Pfizer & Illumina), who has been calling for widespread COVID-19 workplace testing for some time. Today came news that there is now one such test available for all American businesses, freelancers, ‘gig’ workers &/or sole traders. This new tech-enabled solution is powered by CLSU’s ClearContact, ClearID and Virtual Badge (strategic partnership) applications, in conjunction with Clinical Reference Laboratory’s (CRL) expertise in blood/antibody & saliva tests.

Companies: CLEARSTAR

27 May 20

Revolutionary new pathogen detector

Many of the world’s best and most important products (eg Space exploration, nuclear medicine/power & the internet) were originally invented by the military. It’s happened again – but this time to combat airborne pathogens like Ebola, SARS/MERS and all manner of other biological nasties doing the rounds. You see on 10th December 2018, Kromek was awarded a $2.0m contract by DARPA (research arm of US Dept. of Defense) to develop a vehicle-mounted bio-threat detector. The idea being that this should be able to rapidly identify (within 1 hour) any dangerous germ that might have been released into the environment, say by terrorist groups, organised criminals &/or rogue states.

Companies: Kromek Group Plc

27 Jul 20

Pelatro: Big Data, big growth drivers

Pelatro PLC (LON:PTRO) is a software provider focussed on the telecom sector, offering telecom operators solutions for increasing revenue per subscriber, retaining subscribers, and monetising data.The customer base includes major global telecom operators, with the biggest geographies being Southeas

Companies: Pelatro Plc

28 Jul 20

FY’20 prelims: growth in all regions

IMImobile delivered strong FY’20 results, with growth seen across all regions. Gross profit rose 26% y/y to £79.1m, with EBITDA +13% y/y to £21.6m. Cloud communications gross profit rose +15% y/y on an underlying basis, with Europe (+12% organic) a key driver. Post-year end, Q1 saw resilient performance in cloud communications gross profit (+30% y/y, organic: broadly flat) whilst management have noted an activity uptick from hardest hit verticals as of the end of May. We reintroduce forecasts, looking for gross profit of £103.8m by FY(Mar)’23E (+9% 3-year CAGR). EBITDA margins are forecast to expand by 230bps, driving FY’23E FCF to £15.1m (an 8% yield at current valuation). A peer-based multiple valuation approach, plotted against 3-year sales growth, values the cloud communications business alone at 375p – 470p/share.

Companies: IMImobile Plc

19 Nov 19

Gfinity PLC creating 'exciting, groundbreaking esports content'

07 Aug 20

IMImobile PLC (IMO) Full Year results 2020

10 Jan 20

Tekcapital appoints former science minister to board

05 Aug 20

ECSC Group reports first half profit and strong growth in managed services

10 Feb 20

ClearStar lands first contract in facilities management sector

05 Aug 20

The Panoply (TPX) FY20 results July 2020

20 Nov 19

Eckoh PLC doubles its US revenues with 'more to come', says CEO Philpot

04 Aug 20

Immotion CEO says opening of flagship 'Ocean Explorer' at Mandalay Bay is major milestone

10 Oct 19

Immotion Group agrees significant new deal with Spanish leisure firm Aspro Parks

28 Jul 20

KRM22 reports growth in first half thanks to cost reduction and strength of balance sheet

29 Nov 17

Ten Lifestyle Group - Investor Overview

27 Jul 20

Location Sciences reports increase in first half revenues and says funded through to Q2 2021

04 Feb 20

Corero Network Security bags US£1mln of new deals for its SmartWall DDoS product

27 Jul 20

Pelatro PLC: Analyst expects growth and profitability to continue in 2020

13 Jul 20

OnTheMarket Mello Virtual Event - 13th July 2020

Latest Content

Branches come off Rightmove

What’s new: Rightmove interims show 6.0% YoY fall in agent branches to 15,727 (June 2019: 16,768; June 2018: 17,585): 3.5% fall YTD. Over the past two years while Rightmove lost 1,858 branches, OnTheMarket gained 1,619 exclusive branches, many of which are encouraging others to leave Rightmove.

OnTheMarket Plc

07 Aug 20
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IMImobile PLC (IMO) Full Year results 2020

IMImobile Plc

07 Aug 20

SP Angel Healthcare Conditions

Intelligent Ultrasound (MED.L): Half-year results for 2020 | IQ-AI (IQAI.L): LOI signed with an international medical group for StoneChecker Software Ltd (from yesterday)

Intelligent Ultrasound Group Plc IQ AI Ltd.

06 Aug 20
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Expert System - Fund-raising target achieved

Expert System has met two key milestones in the execution of its new five-year growth plan, raising €25m from the issue of 9.26m shares at €2.7 per share and launching expert.ai, its NL API (natural language application programming interface). The first supports the investment required to execute the plan and the second is the first stage in the development of the cloud platform.

Expert System SpA

06 Aug 20
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Teams spirit

LoopUp Group plc

06 Aug 20
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Morning Note – 6 August 2020

Avacta (AVCT): Corp COVID-19 test – manufacturing partner appointed | D4T4 Solutions (D4T4): Corp H1 is in line with expectations; offering good value | STM (STM): Corp Implementing the plan amid an uncertain backdrop

AVCT D4T4 STM

06 Aug 20
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Q2 20: strong set of results, helped by WFH economy

Dialog Q2’s earnings have been strong, beating a demanding consensus as the company earlier in the quarter upgraded its own guidance. The company benefited from increasing demand for electronic products related to the work-from-home (WFH) environment. This solid set of results was also accompanied by encouraging Q3 guidance.

Dialog Semiconductor Plc

05 Aug 20
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ECSC Group reports first half profit and strong growth in managed services

ECSC Group Plc

05 Aug 20

A very good set of results

Wolters Kluwer released solid H1 20 results with revenues up 3% organically at €2,294m, in line with expectations, and above expected adjusted OP (€577m, i.e. a 25.2% margin compared to 25.2% a year earlier). Adjusted net profit at €426m (+21%) and interim dividend raised from €0.39 to €0.47. The FY20e guidance remains suspended due to the COVID-19 context. Globally, the very good set of results is likely to be share-price supportive, with forecasts and target price expected to be upgraded.

Wolters Kluwer NV

05 Aug 20
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Media and Games Invest - Scorching Q220, FY20 guidance raised boldly

Media and Games Invest (MGI) is a fast-growing and profitable games and digital media business. In its maiden results following the group’s Scale listing in July, the group has reported a like-for-like increase in Q2 revenues of 97% to €30.0m, with EBITDA up 68% to €6.3m. These results were driven by sustained supernormal levels of demand for MGI’s games in Q220, supported by acquisitions. The group reported preliminary H120 revenues of €56.6m (H119: €28.6m) and EBITDA of €11.6m (H119: €7.5m). Given this performance, management raised its guidance for FY20, with a revised revenue target of €115–125m (growth of 37–49% y-o-y). Management also introduced EBITDA guidance, with FY20 EBITDA expected to be €20–23m (growth of 29–48% y-o-y). These forecasts exclude the impact of any potential M&A in H220. The half-year report is due on 12 August 2020.

Media