Analyst Comment21 Mar 2023 10:34
Consistent with the message provided to shareholders in January’s
preliminary results statement, Actual Experience has today confirmed in
conjunction with its partner Vodafone UK (‘Vodafone’), the securing of a first
contract for its newly launched Digital Workplace Management Platform
(‘DWMP’). Representing an important milestone for the Group,this two-year
contract has been awarded by a UK central government department (the
‘Department’) following an extensive procurement process. Importantly, the
Board has also confirmed its expectation that further sales orders will be
announced in the coming months. Altogether this strongly reflects the fact
that large public and private institutions now recognise the longer-term need
for a system that can positively respond to the new, mostly hybrid, ways of
working in the post-pandemic world. Such contract momentum will likely
lift ACT’s profile across a broad universe of potential customers urgently
seeking the human experience (‘HX’) solutions it uniquely provides. This in
turn would not only provide significant endorsement for its vision, but
potentially also place it in the focus of the much broader sector of digital
workplace experience companies that have been unable to successfully
emulate its offering. Presently trading at well below net cash while retaining
a runway that takes it into fiscal Q1 2024, the fact that ACT’s scalable portal
is being so well received within its highly addressable global market
suggests near-term opportunity for a significant rerating.
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