Big Technologies Share Price (BIG)

I agree and my p/f has a large holding held for some time with some averaging down along the way!!

The new issue of SCSW is now out, so it should be OK to report what they said about BIG in the May issue:

Https://www.scsw.co.uk/issues/may-2026/big-technologies-the-americas-becoming-dominant/

"Big Technologies - The Americas becoming dominant May 2026

The Buddi litigation is now firmly in the rear-view mirror following the January settlement and BIG’s management team is once again focused on what matters most: capturing the enormous global opportunity in electronic monitoring of offenders. Headline sales in FY25 reached £49.7m, up 3%, but the underlying performance was far stronger. Adjusting for the one-off loss of the Colombia contract, revenues grew a robust 9%. EBITDA came in at £24.6m and operating profit at £18.5m. While these were slightly down year-on-year, this reflects a deliberate strategic pivot: investing upfront in higher-growth territories and building the platform for much larger scale ahead.

The real story - and where BIG starts to look exciting - is in the improved quality metrics. Annual Recurring Revenue (ARR) surged 12% to £52.4m, while net revenue retention climbed to an impressive 105%. In other words BIG is exiting the year with significantly more momentum than it entered with. The Americas are on fire. ARR accelerated to +25%, led by the US, which delivered a blistering +40% ARR growth. The number of US clients jumped 28% to 115, with 16 new contract wins secured across 10 states in H2 alone. Momentum was also turbo-charged by a major seven-year contract in Chile worth US$26m and a key win in Canada.

Cash generation was strong at £23.7m, leaving BIG with £61.9m net cash post-settlement. This firepower is now being deployed aggressively to expand across all 50 US states via its coveted NASPO supplier status, roll out next-generation product innovations and pursuit of high-impact partnerships. Plans for US-based manufacturing from 2027 are also advancing rapidly to bring BIG closer to its largest customers, de-risk the supply chain, and unlock meaningful margin expansion in the years ahead. APAC and EMEA also delivered solid double-digit ARR growth of 10% and 11%, respectively, underlining that the opportunity is truly global and just getting started.

Watch for progress on US manufacturing, product launches, and further contract wins - especially in the Americas. Perhaps we may even get a US acquisition and a >£50m settlement with the former CEO to send the share price into orbit. Buy.

* The writer has a holding"

.. .there would be more news on Sara's payment to us for her transgressions when appropriate. Now it is three months + since then. No reason why she should not at least give us our £30M back for starters!

"BIG is already expanding its US footprint, opening an in-house monitoring center in Florida and recruiting new marketing managers to drive growth. It has also announced two developments that expand its reach in the US and further open up the significant opportunity. Beyond its core GPS monitoring, BIG has its alcohol monitoring tag, AlcoBreath, which allows authorities to verify both location and sobriety through a simple phone call. Alcobreath has received FCC approval and is being supplied to RMS, a business that provides substance abuse treatment and probation services to over 170 agencies and 32,000 clients in the US daily.

The balance sheet also provides scope for M&A. BIG could deploy £100m to acquire a US reseller - particularly one with direct customer relationships - and this would be transformational. Zeus forecasts £33.3m pretax profit this year for EPS of 6.5p and a very lowball figure of £34.6m next year for EPS of 6.7p.

These could explode upwards; I am a buyer."

BIG were the main Buy tip at 104.5p in SCSW's February issue FYI. Enough time has passed that I can post a few useful extracts:

Https://www.scsw.co.uk/issues/february-2026/big-technologies-shares-jump-after-legal-dispute-is-settled/

"A business like Big Technologies, which leases electronic bracelets to governments for monitoring offenders on parole, could soon be on an explosive growth trajectory.

Electronic tagging has become acceptable as an alternative to keeping some prisoners behind bars by letting a number of pre-trial detainees and offenders out early on the condition they can be remotely monitored.

In the UK there are 89,000 people in prison and around 240,000 on probation (I exclude people subject to deportation proceedings as these are not counted in prison or probation statistics and are monitored by the Home Office). By comparison, in the US, around 1.9m people are incarcerated and about 3.7m are on probation or parole.

With the annual cost of keeping a prisoner behind bars estimated as being over £50,000 in the UK and between US$30,000-US$65,000 in the US - covering staff, security, buildings, food and healthcare - electronic tagging represents a cost-effective alternative for low-and medium-risk offenders while maintaining supervision and public safety.

I included Big Technologies (BIG) as one of my 12 New Year NAPS last month. The shares have already performed well since then, but I believe they are an even better buy now. The key reason is that this month’s settlement of a long-running legal dispute has lifted the uncertainty that had cast a long shadow over the shares for the past 18 months.

The electronic monitoring (EM) market continues to expand, driven by overcrowded prisons, rising migrant / asylum seeker populations, and persistent pressure on governments to reduce correctional costs while cutting reoffending. These are global problems and EM adoption continues to widen."

"Adding to the company’s appeal is the unusually high visibility of its revenues. Annual Recurring Revenue climbed to a record £52.4m by the end of December, a 12% increase over 12 months. Beyond existing business, management points to a substantial pipeline of tender opportunities and expansion potential across adjacent markets. Meanwhile, current contracts continue to deepen, with additional tags being added to long-standing framework agreements."

"Global Opportunity BIG’s momentum is building in every direction: in December, it secured multiple new contracts across Lithuania, Latvia, Pierce County (Washington), Prince Edward Island (Canada) and Aruba, adding to September wins in California, New Zealand x2, and a domestic violence program in Australia. These deals provide strong visibility to 2026 revenues."