BTRS Holdings Inc.

Report azionario NasdaqGS:BTRS

Capitalizzazione di mercato: 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 Salute del bilancio

Criteri Salute finanziaria verificati 5/6

Informazioni chiave

0%

Rapporto debito/patrimonio netto

US$0

Debito

Indice di copertura degli interessin/a
ContantiUS$145.92m
Patrimonio nettoUS$251.78m
Totale passivitàUS$165.64m
Totale attivitàUS$417.42m

Aggiornamenti recenti sulla salute finanziaria

Nessun aggiornamento

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.
Articolo di analisi • 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.
Articolo di analisi • 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...
Articolo di analisi • 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...

Analisi della posizione finanziaria

Passività a breve termine: Le attività a breve termine ( $219.3M ) di BTRS superano le sue passività a breve termine ( $102.2M ).

Passività a lungo termine: Le attività a breve termine di BTRS ( $219.3M ) superano le sue passività a lungo termine ( $63.5M ).

Storia e analisi del rapporto debito/patrimonio netto

Livello di debito: BTRS è esente da debiti.

Riduzione del debito: BTRS non aveva debiti 5 anni fa.

Bilancio

Analisi della pista di contanti

Per le società che in passato sono state mediamente in perdita, valutiamo se hanno almeno un anno di liquidità.

Pista di liquidità stabile: BTRS ha una cash runway sufficiente per più di 3 anni in base al suo attuale free cash flow.

Previsione Cash Runway: Dati insufficienti per determinare se BTRS ha una sufficiente pista di cassa se il suo flusso di cassa libero continua a crescere o a ridursi in base ai tassi storici.

Scoprire le aziende sane

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Analisi aziendale e situazione dei dati finanziari

DatiUltimo aggiornamento (ora UTC)
Analisi dell'azienda2022/12/17 08:34
Prezzo dell'azione a fine giornata2022/12/15 00:00
Utili2022/09/30
Utili annuali2021/12/31

Fonti dei dati

I dati utilizzati nella nostra analisi aziendale provengono da S&P Global Market Intelligence LLC. I seguenti dati sono utilizzati nel nostro modello di analisi per generare questo report. I dati sono normalizzati, il che può comportare un ritardo nella disponibilità della fonte.

PacchettoDatiTempisticaEsempio Fonte USA *
Dati finanziari della società10 anni
  • Conto economico
  • Rendiconto finanziario
  • Bilancio
Stime di consenso degli analisti+3 anni
  • Previsioni finanziarie
  • Obiettivi di prezzo degli analisti
Prezzi di mercato30 anni
  • Prezzi delle azioni
  • Dividendi, scissioni e azioni
Proprietà10 anni
  • Top azionisti
  • Insider trading
Gestione10 anni
  • Team di leadership
  • Consiglio di amministrazione
Sviluppi principali10 anni
  • Annunci aziendali

* Esempio per i titoli statunitensi, per i titoli non statunitensi si utilizzano forme e fonti normative equivalenti.

Se non specificato, tutti i dati finanziari si basano su un periodo annuale ma vengono aggiornati trimestralmente. Si tratta dei cosiddetti dati TTM (Trailing Twelve Month) o LTM (Last Twelve Month). Per saperne di più.

Modello di analisi e Snowflake

I dettagli del modello di analisi utilizzato per generare questo report sono disponibili sulla nostra pagina Github; abbiamo anche guide su come utilizzare i nostri report e tutorial su Youtube.

Scoprite il team di livello mondiale che ha progettato e realizzato il modello di analisi Simply Wall St.

Metriche di settore e industriali

Le nostre metriche di settore e di sezione sono calcolate ogni 6 ore da Simply Wall St; i dettagli del nostro processo sono disponibili su Github.

Fonti analitiche

BTRS Holdings Inc. è coperta da 10 analisti. 6 di questi analisti ha fornito le stime di fatturato o di utile utilizzate come input per il nostro report. Le stime degli analisti vengono aggiornate nel corso della giornata.

AnalistaIstituzione
Jason KupferbergBofA Global Research
Joseph VafiCanaccord Genuity
Andrew SchmidtCitigroup Inc