The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Yes it’s unfortunate that ARR does not yet make up a very large % of revenues. It’s also unfortunate that they have ramped up sales and marketing this year but don’t have the sales to compensate. Hence revenues expected to be up slightly but EBITDA down a lot yoy.
On the flip side their strengthening of relationship with Juniper recently should prove valuable
Orders of between 15-25% is a pretty large forecasting leeway - still want the mix of renewals / new as well as the perpetual / sass mix.
Weak update, but not entirely surprising. I questioned the viability of the FY22 revenue forecasts in broker quotes at the last investormeet, as they needed to hit $20mm in H2! They seemed confident of the growth.
Cheers Jolly.
Always interesting to see what other posters (sensible ones not the loons) are looking at.
Have gbg on my short watch list, seems cheap now and may take a position payroll day next week.
Took an interest in rws a while back as they took out sdl from my home town maidenhead.
As well as a decent punt on their own, I think I a lot of US companies must be sniffing around those with global revenues especially cyber.
don't know what happened with that post lol
GBG EV would be
GBG interests me.....eyeing £2.80 ish...wd make EV
also tempted by RWS...c£2 ...wd make EV c US$800m (EV/rev <1; pe<10)...lower growth potential, but seems like cheap utility pricing for well entrenched incumbant
Jolly.
At $21m and £ tanking v dollar cns isn't too far off, also profitable, decent cash / balance sheet and decent growth / move from perpetual to saas. Share price a bit marooned 10-11.
What did you get into ?
had to sell 30k given the huge drop in software comparators...still hold >100k
you can buy quality at 1.5-3* rev elsewhere
impressive strength
tp 25p++
They are in the Panama papers - icij.org.
From vague memory, I think the reporting requirements are 5% for the purchaser when listed in some far flung places.
These guys cleverly built a stake over 12 months, and are now announcing it.
Date threshold was crossed from the first of the four RNS was sept 21. Bit late in reporting that aint they, or maybe in Panama they're not used to regulatory requirements...!
Who are these guys, couldn't find out anything about them apart from being in a very dodgy tax haven? Any other investments they have, past investments, long / short term holders?
Caraway Group Inc. 31,000,000 shares. 6.26% of Corero.
https://www.youtube.com/watch?v=zIGBgCdSdYM&ab_channel=InvestorMeetCompany
Like the company, great presentation.
Forgot to say as usual reporting in dollars - sterling reporting even better.
Still have a gripe they don't split out renewals from New business, although new customer count still strong.
Continued strong results and good outlook across all kpis - the juniper relationship still strong.
Really don't know why this isn't talked about more, especially as it is in a hot space. Always wondered whether a US listing would help.
Will be interesting to see how the new cro gets on further developing the us.
02-Sep-22 16:40:43 10.4166 300,000 Buy* 9.50 10.50 31.25k O
Takeover offer for darktrace, hot sector. Sterling weakness makes a lot of UK companies dirt cheap for the yanks, still juniper in the background.
Jolly, unless macro events take a turn I would hope we are at a low in the trading range.
Welcome qd. Valuation of software companies more of an art, especially where there is a mix of SaaS and perpetual. Good thing is cns is growing, profitable and has cash.
welcome
even if the worm of sentiment hasn't fully turned...isn't this a decent play back up to 12p?
.... and I'm in today.
Sold a load of Cerillion to do it, which Sir Humphrey might call a "brave decision". That's done so well, the only problem is I'm not quite sure why. Here I really can see why: great progress on all fronts, coming into profitability (a nice stage), unlikely to need to raise soon, fallen nicely recently! [Sorry, peeps :)]
And I can't help wondering if they have the product of the moment? The Ukraine conflict - correction, WAR - has been spilling onto the internet, primarily I hear in DDoS attacks. Which are so easy to do.
I'm no accountant, and wouldn't know how to value this, but I do love the charts.
I'm curious about the large and increasing holding by Sabvest. I know nothing of them except they've been around as an investment group in South Africa for over 30 years and have "interests in ten unlisted and three listed investments". Of the 3 listed investments only the one, CNS, is outside SA. Were we just too good to miss? :)
Another takeover at a rich price, with both software and defence companies in the mix.
With sterling in the toilet and cns having much of their revenue in $ and costs in £ this helps underline the share cap.
High retention rates appear to show customer stickiness, it would take a brave / stupid CIO to take it reduce cyber spend at the moment.
Miton notorious at not providing updates to companies on their holding.
I own shares in MINI which has some of this holding, they don't tend to hold for that long before selling up even in companies where their sale will clearly impact the share price.
I think just a little sell off from the rns.
What might have perturbed investors is the lack of forward guidance, despite the contract backlog and security of much of the revenue forecast from the arr. I believe a couple of large perpetual deals last year which, if similar deals are replicated as aas (a good thing as it improves arr) but this will hit revenue and profit in the very short term.
No idea Wintzy, but there were a lot of big trades at 9p. Wondering who knows something we all should know.