Board Change • May 20
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 2 highly experienced directors. Independent Non-Executive Director Phil Hayman was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • May 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 2 highly experienced directors. Independent Non-Executive Director Phil Hayman was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Annuncio • Apr 17
Reckon Limited, Annual General Meeting, May 20, 2026 Reckon Limited, Annual General Meeting, May 20, 2026. Location: level 2, 100 pacific highway, north sydney nsw 2026 Australia Board Change • Dec 24
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 2 highly experienced directors. Independent Non-Executive Director Phil Hayman was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Aug 18
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 2 highly experienced directors. Independent Non-Executive Director Phil Hayman was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Annuncio • Apr 14
Reckon Limited, Annual General Meeting, May 14, 2025 Reckon Limited, Annual General Meeting, May 14, 2025. Location: at level 2, 100 pacific highway, north sydney, nsw, 2060, Australia Reported Earnings • Feb 12
Full year 2024 earnings released: EPS: AU$0.039 (vs AU$0.049 in FY 2023) Full year 2024 results: EPS: AU$0.039 (down from AU$0.049 in FY 2023). Revenue: AU$54.1m (up 1.3% from FY 2023). Net income: AU$4.42m (down 21% from FY 2023). Profit margin: 8.2% (down from 10% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Software industry in Australia. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has fallen by 19% per year, which means it is performing significantly worse than earnings. Board Change • Feb 04
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 2 highly experienced directors. Independent Non-Executive Director Phil Hayman was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Annuncio • Jan 07
Reckon Limited (ASX:RKN) completed the acquisition of Money Management Group Pty Ltd for AUD 8.8 million Reckon Limited (ASX:RKN) agreed to acquire Money Management Group Pty Ltd for AUD 8.8 million on December 18, 2024. A cash consideration of AUD 7.5 million will be paid by Reckon Limited. Reckon Limited will pay an earnout/contingent payment of AUD 1.25 million cash. As part of consideration, AUD 8.75 million is paid towards common equity of Money Management Group Pty Ltd.
The expected completion of the transaction is January 1, 2025 to January 10, 2025. The acquisition will be funded through the Company’s existing bank facilities.
Reckon Limited (ASX:RKN) completyed the acquisition of Money Management Group Pty Ltd on January 6, 2025. Board Change • Dec 24
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 2 highly experienced directors. Independent Non-Executive Director Phil Hayman was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Annuncio • Dec 19
Reckon Limited (ASX:RKN) agreed to acquire Money Management Group Pty Ltd for AUD 8.8 million. Reckon Limited (ASX:RKN) agreed to acquire Money Management Group Pty Ltd for AUD 8.8 million on December 18, 2024. A cash consideration of AUD 7.5 million will be paid by Reckon Limited. Reckon Limited will pay an earnout/contingent payment of AUD 1.25 million cash. As part of consideration, AUD 8.75 million is paid towards common equity of Money Management Group Pty Ltd.
The expected completion of the transaction is January 1, 2025 to January 10, 2025. The acquisition will be funded through the Company’s existing bank facilities. Reported Earnings • Aug 08
First half 2024 earnings released: EPS: AU$0.031 (vs AU$0.037 in 1H 2023) First half 2024 results: EPS: AU$0.031 (down from AU$0.037 in 1H 2023). Revenue: AU$28.4m (up 1.0% from 1H 2023). Net income: AU$3.48m (down 17% from 1H 2023). Profit margin: 12% (down from 15% in 1H 2023). Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Software industry in Australia. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings. Reported Earnings • Feb 13
Full year 2023 earnings released: EPS: AU$0.049 (vs AU$0.04 in FY 2022) Full year 2023 results: EPS: AU$0.049 (up from AU$0.04 in FY 2022). Revenue: AU$53.4m (up 4.2% from FY 2022). Net income: AU$5.57m (up 22% from FY 2022). Profit margin: 10% (up from 8.9% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Software industry in Australia. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Aug 24
Upcoming dividend of AU$0.025 per share at 8.6% yield Eligible shareholders must have bought the stock before 31 August 2023. Payment date: 29 September 2023. Payout ratio is on the higher end at 83%, however this is supported by cash flows. Trailing yield: 8.6%. Within top quartile of Australian dividend payers (7.2%). Higher than average of industry peers (0.6%). New Risk • Aug 17
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 9.6% Last year net profit margin: 14% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (96% cash payout ratio). Profit margins are more than 30% lower than last year (9.6% net profit margin). Market cap is less than US$100m (AU$63.1m market cap, or US$40.6m). Reported Earnings • Aug 16
First half 2023 earnings released: EPS: AU$0.037 (vs AU$0.033 in 1H 2022) First half 2023 results: EPS: AU$0.037 (up from AU$0.033 in 1H 2022). Revenue: AU$28.2m (up 4.3% from 1H 2022). Net income: AU$4.20m (up 13% from 1H 2022). Profit margin: 15% (up from 14% in 1H 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Software industry in Australia. Over the last 3 years on average, earnings per share has fallen by 12% per year whereas the company’s share price has fallen by 11% per year. Buying Opportunity • Apr 21
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 21%. The fair value is estimated to be AU$0.60, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.2% over the last 3 years. Earnings per share has declined by 3.1%. For the next 3 years, revenue is forecast to grow by 5.1% per annum. Earnings is also forecast to grow by 16% per annum over the same time period. Reported Earnings • Apr 01
Full year 2022 earnings released: EPS: AU$0.04 (vs AU$0.055 in FY 2021) Full year 2022 results: EPS: AU$0.04 (down from AU$0.055 in FY 2021). Revenue: AU$51.2m (up 3.5% from FY 2021). Net income: AU$4.55m (down 27% from FY 2021). Profit margin: 8.9% (down from 13% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Software industry in Australia. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 2% per year. Buying Opportunity • Mar 24
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 24%. The fair value is estimated to be AU$0.60, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.8% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 5.1% per annum. Earnings is also forecast to grow by 16% per annum over the same time period. Buying Opportunity • Mar 06
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 25%. The fair value is estimated to be AU$0.57, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.8% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 5.1% per annum. Earnings is also forecast to grow by 16% per annum over the same time period. Reported Earnings • Feb 15
Full year 2022 earnings released: EPS: AU$0.04 (vs AU$0.086 in FY 2021) Full year 2022 results: EPS: AU$0.04 (down from AU$0.086 in FY 2021). Revenue: AU$51.2m (down 28% from FY 2021). Net income: AU$4.55m (down 53% from FY 2021). Profit margin: 8.9% (down from 14% in FY 2021). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Software industry in Australia. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Annuncio • Feb 14
Reckon Limited Declares No Final Dividend for the Year of 2022 Reckon Limited Board has not declared a final dividend (2021: 2 cents per share) for the year of 2022. Board Change • Nov 17
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 2 highly experienced directors. Independent Non-Executive Director Phil Hayman was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Buying Opportunity • Nov 09
Now 44% undervalued after recent price drop Over the last 90 days, the stock is down 48%. The fair value is estimated to be AU$1.18, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.1% over the last 3 years. Earnings per share has grown by 8.4%. Revenue is forecast to decline by 24% in 2 years. Earnings is forecast to decline by 44% in the next 2 years. Upcoming Dividend • Nov 01
Upcoming dividend of AU$0.57 per share Eligible shareholders must have bought the stock before 08 November 2022. Payment date: 21 November 2022. Payout ratio is a comfortable 55% and this is well supported by cash flows. Trailing yield: 3.9%. Lower than top quartile of Australian dividend payers (7.0%). Higher than average of industry peers (1.0%). Board Change • Sep 13
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 2 highly experienced directors. Independent Non-Executive Director Phil Hayman was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Aug 19
Non-Executive Director recently sold AU$255k worth of stock On the 18th of August, Clive Rabie sold around 200k shares on-market at roughly AU$1.27 per share. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Upcoming Dividend • Aug 18
Upcoming dividend of AU$0.03 per share Eligible shareholders must have bought the stock before 25 August 2022. Payment date: 23 September 2022. Payout ratio is a comfortable 55% and this is well supported by cash flows. Trailing yield: 3.9%. Lower than top quartile of Australian dividend payers (6.3%). Higher than average of industry peers (1.0%). Reported Earnings • Aug 11
First half 2022 earnings released: EPS: AU$0.033 (vs AU$0.028 in 1H 2021) First half 2022 results: EPS: AU$0.033 (up from AU$0.028 in 1H 2021). Revenue: AU$27.0m (up 3.2% from 1H 2021). Net income: AU$3.71m (up 16% from 1H 2021). Profit margin: 14% (up from 12% in 1H 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is expected to shrink by 27% compared to a 40% growth forecast for the industry in Australia. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 20
Investor sentiment improved over the past week After last week's 51% share price gain to AU$1.30, the stock trades at a trailing P/E ratio of 14.8x. Average forward P/E is 30x in the Software industry in Australia. Total returns to shareholders of 149% over the past three years. Board Change • Apr 28
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 2 highly experienced directors. Independent Non-Executive Director Phil Hayman was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Apr 08
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 2 highly experienced directors. Independent Non-Executive Director Phil Hayman was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 02
Full year 2021 earnings released: EPS: AU$0.086 (vs AU$0.086 in FY 2020) Full year 2021 results: EPS: AU$0.086 (vs AU$0.086 in FY 2020). Revenue: AU$71.3m (down 5.7% from FY 2020). Net income: AU$9.70m (flat on FY 2020). Profit margin: 14% (in line with FY 2020). Over the next year, revenue is forecast to grow 2.1%, compared to a 56% growth forecast for the industry in Australia. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 14% per year. Board Change • Mar 23
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 2 highly experienced directors. Independent Non-Executive Director Phil Hayman was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Feb 17
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 2 highly experienced directors. Independent Non-Executive Director Phil Hayman was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Dec 30
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 2 highly experienced directors. Independent Non-Executive Director Phil Hayman was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Aug 17
Upcoming dividend of AU$0.03 per share Eligible shareholders must have bought the stock before 24 August 2021. Payment date: 22 September 2021. Trailing yield: 4.6%. Lower than top quartile of Australian dividend payers (4.9%). Higher than average of industry peers (1.0%). Reported Earnings • Aug 13
First half 2021 earnings released: EPS AU$0.046 (vs AU$0.041 in 1H 2020) The company reported a solid first half result with improved earnings and profit margins, although revenues were flat. First half 2021 results: Revenue: AU$37.5m (flat on 1H 2020). Net income: AU$5.26m (up 13% from 1H 2020). Profit margin: 14% (up from 12% in 1H 2020). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 31
Full year 2020 earnings released: EPS AU$0.086 (vs AU$0.072 in FY 2019) The company reported a solid full year result with improved earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: AU$75.6m (flat on FY 2019). Net income: AU$9.74m (up 20% from FY 2019). Profit margin: 13% (up from 11% in FY 2019). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Mar 02
New 90-day low: AU$0.74 The company is down 6.0% from its price of AU$0.80 on 02 December 2020. The Australian market is up 4.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Software industry, which is down 9.0% over the same period. Reported Earnings • Feb 21
Full year 2020 earnings released: EPS AU$0.086 (vs AU$0.072 in FY 2019) The company reported a solid full year result with improved earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: AU$75.6m (flat on FY 2019). Net income: AU$9.74m (up 20% from FY 2019). Profit margin: 13% (up from 11% in FY 2019). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Feb 21
Revenue misses expectations Revenue missed analyst estimates by 0.5%. Over the next year, revenue is forecast to stay flat compared to a 24% growth forecast for the Software industry in Australia. Is New 90 Day High Low • Feb 06
New 90-day high: AU$0.89 The company is up 24% from its price of AU$0.71 on 06 November 2020. The Australian market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 3.0% over the same period. Is New 90 Day High Low • Jan 13
New 90-day high: AU$0.86 The company is up 9.0% from its price of AU$0.79 on 16 October 2020. The Australian market is also up 9.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Software industry, which is flat over the same period.