BTRS Holdings Inc.

NasdaqGS:BTRS Rapport sur les actions

Capitalisation boursière : US$1.6b

This company has been acquired

The company may no longer be operating, as it has been acquired. Find out why through their latest events.

BTRS Holdings Bilan de santé

Santé financière contrôle des critères 5/6

Informations clés

0%

Ratio d'endettement

US$0

Dette

Ratio de couverture des intérêtsn/a
Argent liquideUS$145.92m
Fonds propresUS$251.78m
Total du passifUS$165.64m
Total des actifsUS$417.42m

Mises à jour récentes de la santé financière

Pas de mise à jour

Recent updates

Seeking Alpha • Sep 28

EQT Private Equity to acquire Billtrust for $1.7B

BTRS or Billtrust (NASDAQ:BTRS) to be acquired by EQT X fund, part of EQT, a leading global investment organization, in an all-cash transaction valuing company’s equity at ~$1.7B. Company shareholders will receive $9.50 per share in cash upon the closing of the transaction. The price per share represents more than a 64% premium above the closing share price of $5.77 on September 27, 2022, and more than a 76% premium above the trailing 90-day volume weighted average stock price for the period ended September 27, 2022. Transaction expected to close in Q1 2023.
Seeking Alpha • Sep 15

BTRS Holdings Produces Growth But Operating Losses Are Sticky

Summary BTRS Holdings published its Q2 2022 financial results on August 13, 2022. The firm provides a variety of B2B payment software and services worldwide. BTRS Holdings has produced growing revenue and gross profit, but operating losses remain high as macroeconomic conditions darken. I'm on Hold for BTRS Holdings until management can make a meaningful turn toward operating breakeven. A Quick Take On BTRS Holdings BTRS Holdings Inc. (BTRS) reported its Q2 2022 financial results on August 13, 2022, missing expected revenue and EPS estimates. The company provides a range of B2B payment processing and services to companies worldwide. With a slowing global economy, a strong U.S. dollar producing FX headwinds, no apparent cost-cutting efforts by management and continued high operating losses, my outlook on BTRS is a Hold for the near term. BTRS Holdings Overview Lawrenceville, New Jersey-based BTRS (Billtrust) was founded in 2001 to provide a variety of B2B payment software and related service options to organizations. The firm is headed by founder, Chairman and CEO, Flint Lane, who was previously Chairman and President of Paytrust, and EVP R&D at Logic Works. The company's primary offerings include: Business payments network Credit eCommerce Invoicing Payments Cash application Collections Services The firm acquires customers via direct sales and marketing efforts and through partner referrals. BTRS has employees in 7 countries and serves over 40 industry verticals. BTRS Holdings' Market & Competition According to a 2022 market research report by IMARC Group, the market for B2B payments was an estimated $943 billion in 2021 and is forecast to reach $1.56 trillion by 2027. This represents a forecast CAGR of 8.3% from 2022 to 2027. The main drivers for this expected growth are increasing demand for automated and more efficient payment processing between businesses amid a rise of e-commerce activities worldwide. Also, small and medium-sized enterprises are seeking to take advantage of improved payment options to lower costs and increase flexibility. Major competitive vendors include: PayPal (PYPL) Global Payments (GPN) Square (SQ) Visa (V) ACI Worldwide (ACIW) Jack Henry & Associates (JKHY) Paysafe Group Naspers Limited (NPSNY) Others BTRS Holdings' Recent Financial Performance Total revenue by quarter has risen according to the following chart: 9 Quarter Total Revenue (Seeking Alpha) Gross profit by quarter has also grown accordingly: 9 Quarter Gross Profit (Seeking Alpha) Selling, G&A expenses as a percentage of total revenue by quarter have grown as revenue has increased: 9 Quarter Selling, G&A % Of Revenue (Seeking Alpha) Operating losses by quarter have increased markedly in recent quarters: 9 Quarter Operating Income (Seeking Alpha) Earnings per share (Diluted) have also become increasingly negative of late: 9 Quarter Earnings Per Share (Seeking Alpha) (All data in above charts is GAAP) In the past 12 months, BTRS's stock price has fallen 39.8% vs. the U.S. S&P 500 Index's loss of around 12.3%, as the chart below indicates: 52 Week Stock Price (Seeking Alpha) Valuation And Other Metrics For BTRS Holdings Below is a table of relevant capitalization and valuation figures for the company: Measure ((TTM)) Amount Enterprise Value/Sales 6.95 Revenue Growth Rate 17.4% Net Income Margin -49.8% GAAP EBITDA % -36.1% Market Capitalization $1,120,000,000 Enterprise Value $1,000,000,000 Operating Cash Flow -$24,500,000 Earnings Per Share (Fully Diluted) -$0.44 (Source - Seeking Alpha) The Rule of 40 is a software industry rule of thumb that says that as long as the combined revenue growth rate and EBITDA percentage rate equal or exceed 40%, the firm is on an acceptable growth/EBITDA trajectory. BTRS's most recent GAAP Rule of 40 calculation was negative (18.7%) as of Q2 2022, so the firm has performed poorly in this regard, per the table below: Rule of 40 - GAAP Calculation Recent Rev. Growth % 17.4% GAAP EBITDA % -36.1% Total -18.7% (Source - Seeking Alpha) Commentary On BTRS Holdings In its last earnings call (Source - Seeking Alpha), covering Q2 2022's results, management highlighted a recent partnership deal with Procede Software in the commercial truck dealer management industry, as an example of its integration efforts. A significant growth area for the firm is its Business Payments Network, of which its digital lockbox feature, which automates receipts of various payment types, is what it calls a "must have for any AR department." However, management has noticed a more difficult macroeconomic environment but believes that in such environments, CFOs have even greater incentives to increase efficiency efforts across their enterprise. As to its financial results, net revenue rose 28.5% year-over-year, while adjusted gross margin hit 74.1%, which was 2.41% higher than in Q2 2021.
Article d’analyse • Sep 07

Is BTRS Holdings Inc. (NASDAQ:BTRS) Trading At A 34% Discount?

Today we'll do a simple run through of a valuation method used to estimate the attractiveness of BTRS Holdings Inc...
Seeking Alpha • Jul 27

BTRS Holdings jumps 13% on report of exploring potential sale

BTRS Holdings (NASDAQ:BTRS), the parent of business payments vendor Billtrust, soared 13% on a report that the company is exploring options, including a possible slae. The company is working with an adviser as it considers its options, according to a Reuters report.
Seeking Alpha • Oct 15

BTRS Holdings: Accumulating Along With Insiders

Publicly birthed in the middle of the SPAC craze in early 2021, BTRS Holdings has lost some of its value since its peak in February. The accounts receivable solutions provider has developed an ecosystem of buyers, suppliers, banks, payment card issuers, and payment acceptance networks that should have wide appeal. Billtrust has a chance to be the market leader for mid-market/enterprise level customers with its stiffest competition coming from potential customers’ own in-house efforts. With a ~55.6 million share overhang from private equity interests, a clean balance sheet, plenty of blue sky, and insider buying, Billtrust merited further investigation. A full investment analysis is presented in the paragraphs below.
Article d’analyse • Aug 25

Is BTRS Holdings Inc. (NASDAQ:BTRS) Trading At A 50% Discount?

Today we will run through one way of estimating the intrinsic value of BTRS Holdings Inc. ( NASDAQ:BTRS ) by taking the...
Article d’analyse • May 15

BTRS Holdings Inc. (NASDAQ:BTRS) Just Released Its First-Quarter Earnings: Here's What Analysts Think

It's been a mediocre week for BTRS Holdings Inc. ( NASDAQ:BTRS ) shareholders, with the stock dropping 16% to US$12.34...

Analyse de la situation financière

Passif à court terme: Les actifs à court terme de BTRS ( $219.3M ) dépassent ses passifs à court terme ( $102.2M ).

Passif à long terme: Les actifs à court terme de BTRS ( $219.3M ) dépassent ses passifs à long terme ( $63.5M ).

Historique et analyse du ratio d'endettement

Niveau d'endettement: BTRS est sans dette.

Réduire la dette: BTRS n'avait aucune dette il y a 5 ans.

Bilan

Analyse des pistes de trésorerie

Pour les entreprises qui ont été en moyenne déficitaires dans le passé, nous évaluons si elles disposent d'au moins un an de trésorerie.

Piste de trésorerie stable: BTRS dispose d'une piste de trésorerie suffisante pour plus de 3 ans sur la base de son flux de trésorerie disponible actuel.

Prévisions de trésorerie: Données insuffisantes pour déterminer si BTRS dispose de suffisamment de piste de trésorerie si son flux de trésorerie disponible continue de croître ou de diminuer en fonction des taux historiques.

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Analyse de l'entreprise et données financières

DonnéesDernière mise à jour (heure UTC)
Analyse de l'entreprise2022/12/17 00:23
Cours de l'action en fin de journée2022/12/15 00:00
Les revenus2022/09/30
Revenus annuels2021/12/31

Sources de données

Les données utilisées dans notre analyse de l'entreprise proviennent de S&P Global Market Intelligence LLC. Les données suivantes sont utilisées dans notre modèle d'analyse pour générer ce rapport. Les données sont normalisées, ce qui peut entraîner un délai avant que la source ne soit disponible.

PaquetDonnéesCadre temporelExemple de source américaine *
Finances de l'entreprise10 ans
  • Compte de résultat
  • Tableau des flux de trésorerie
  • Bilan
Estimations consensuelles des analystes+3 ans
  • Prévisions financières
  • Objectifs de prix des analystes
Prix du marché30 ans
  • Cours des actions
  • Dividendes, scissions et actions
Propriété10 ans
  • Actionnaires principaux
  • Délits d'initiés
Gestion10 ans
  • L'équipe dirigeante
  • Conseil d'administration
Principaux développements10 ans
  • Annonces de l'entreprise

* Exemple pour les titres américains ; pour les titres non américains, des formulaires réglementaires et des sources équivalentes sont utilisés.

Sauf indication contraire, toutes les données financières sont basées sur une période annuelle mais mises à jour trimestriellement. C'est ce qu'on appelle les données des douze derniers mois (TTM) ou des douze derniers mois (LTM). En savoir plus.

Modèle d'analyse et flocon de neige

Les détails du modèle d’analyse utilisé pour générer ce rapport sont disponibles sur notre page Github; nous proposons également des guides expliquant comment utiliser nos rapports et des tutoriels sur Youtube.

Découvrez l'équipe de classe mondiale qui a conçu et construit le modèle d'analyse Simply Wall St.

Indicateurs de l'industrie et du secteur

Nos indicateurs de secteur et de section sont calculés toutes les 6 heures par Simply Wall St. Les détails de notre processus sont disponibles sur Github.

Sources des analystes

BTRS Holdings Inc. est couverte par 10 analystes. 6 de ces analystes ont soumis les estimations de revenus ou de bénéfices utilisées comme données d'entrée dans notre rapport. Les soumissions des analystes sont mises à jour tout au long de la journée.

AnalysteInstitution
Jason KupferbergBofA Global Research
Joseph VafiCanaccord Genuity
Andrew SchmidtCitigroup Inc