The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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I hesitate to speak too soon, but the share price is very slowly trying to head upwards. I suspect that things will move a lot more quickly once at least some of the contracts they are bidding on come to fruition. From what we know about Castleton, it seems inevitable. The company has some early movers, and the recent referenceability that goes with them.
That goes along with FinnCap's positive outlook and £1.30 "in the near term the contemplation of moving to the cloud has changed customer buying habits and slowed decision making – meaning the long-term growth opportunities from recurring revenue growth are stronger than ever, but the instant fillip of one-off revenue, which boosted prior years, is not yet offset. "
The strategy, of preparing for cloud migration, cross-selling and working towards larger multi year contracts ( primarily from the existing 600 customer base) has not changed. One-offs having waned, the trading update appears to indicate that the promised material improvement is likely to relate to additional contracted recurring revenue, fulfilling management's aspiration of gaining greater visibility of forward earnings. The trading update and 40% loss came as a complete surprise. But the strength of the company in the social housing market remains unchanged. A loss for holders, but still a very positive outlook.
All 3 "material" mind. They must have sight on that.
Haha. It's one of those things they call a no brainer on these boards when you /FinnCap put it like that.
And, anyway, although insufficient to meet previous expectations, "the Company is confident that revenue, EBITDA and cash generation will show a material improvement in the second half of the year."
They do not all show on this website. Someone has sold and someone has bought. I have a vested interest, but can easily see the truth of FinCaps statement that the worst thing that can happen now is that Castleton is acquired ( at a premium ) for its tech and 600 customers. I am therefore firmly on the side of the buyer.
£2.8m+ just changed hands at 56.5. That should put a bottom under it.
On dummy trades, those 56.5 appear to be buys.