I agree Jazz. We can take four million of exceptionals out of the costs and the core numbers look really good. I like the high percentage of transaction revenue in there too - that's recurring revenue. Project forward another year and EPO should be operating better than break-even and on the cusp of great things, especially if their Blockchain initiative takes off. Plenty of cash in there to support a divvi too!
29 Sep '15
RE: Significant undervalued
Impressive results. Agreed that it appears undervalued has been around this valuation for a while. Moni should take a leaf out of how this company is going from strength to strength quietly, efficiently and most of all effectively.
29 Sep '15
EPO has increasingly snatched lucrative, cash enhancing contracts, and quietly carved out a niche market for itself. Earthport presents a significantly undervalued stock and the current share price significantly undervalues the potential. Suspect there could well be some significant shareholder value upside medium long term. Cash income income streams rising.
29 Sep '15
Year ended results
final results for the year ended 30 June 2015. Financial Highlights • 78% growth in revenue to £19.27 million (FY 2014: £10.82 million) • On a like-for-like basis revenue grew by over 55% • Transactional revenue was in excess of 84% of the total revenue • 90% growth in adjusted gross profit to £15.66 million (FY 2014: £8.25 million) • Net cash used in operating activities decreased to £2.90 million (FY 2014: £4.36 million), despite significant new investments • Loss before taxation increased to £8.71 million (FY 2014: £6.33 million). This includes: • Administrative costs of £19.94 million (FY 2014: £14.37 million) which increased primarily due to full year costs of Baydonhill, warrant costs of £0.73 million (FY 2014: £0.32 million), share-based payment charge of £3.29 million (FY 2014: £1.75 million) and an adjustment of unrealised fair value gain amounting to £0.35 million (FY 2014: £2.27 million) • Cash and cash equivalents at 30 June 2015 of £30.20 million (30 June 2014: £9.46 million) • Achieved positive cash flow in multiple months during the second-half of the financial year Strong Operational Progress • 31 new clients signed during the year (FY 2014: 33) • 22 clients went live during the year (FY 2014: 14) • Transacting new clients include some of the largest and most sophisticated financial institutions • Continued growth in business from existing clients, including Bank of America, with multiple new add-on projects underway • Success in the ecommerce and shared economy marketplaces, with some of the fastest growing companies contracted • Dollar value of payments grew by over 75% Hank Uberoi, CEO of Earthport plc, commented: "Over the past year broad acceptance of the Earthport model has accelerated, enabling the Company to experience increased demand and recognition for its services across industry segments and geographic areas. Given the size of the opportunity, which is estimated to be several trillion dollars in payments value, we are investing at an accelerated pace in our people, geographic footprint and product development to maximise medium and long-term success. We will continue to focus on significant, demonstrable and recurring revenue, targeting financial institutions, money transfer organisations, high growth ecommerce and payment aggregators. Earthport is in the best position it has ever been in to take advantage of the significant opportunity in front of us."
14 Sep '15
couldn't management have included a brief line as to what they are in respect to? Rant over!
1 Sep '15
Article on blockchain
Anyone want to know where EPO might be headed should read this. http://www.bloomberg.com/news/features/2015-09-01/blythe-masters-tells-banks-the-blockchain-changes-everything . Blythe Masters was a mega star at JPMorgan for a long time but there's an interesting reference to Earthport half way down and a direct quote from Hank. Well done to Bloomberg for making that connection to EPO.
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