Major Estimate Revision • Jul 04
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 expected loss increased from -US$0.10 to -US$0.14 per share. Revenue forecast unchanged at US$1.54b. Software industry in the US expected to see average net income growth of 6.9% next year. Consensus price target of US$19.70 unchanged from last update. Share price rose 8.5% to US$19.08 over the past week. Reported Earnings • May 06
First quarter 2022 earnings released: US$0.067 loss per share (vs US$0.002 loss in 1Q 2021) First quarter 2022 results: US$0.067 loss per share (down from US$0.002 loss in 1Q 2021). Revenue: US$344.9m (up 9.5% from 1Q 2021). Net loss: US$17.1m (loss widened US$16.7m from 1Q 2021). Over the next year, revenue is forecast to grow 18%, compared to a 36% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Board Change • Apr 27
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Steve Ward was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions Derivative • Mar 18
Key Executive notifies of intention to sell stock Jeffrey Citron intends to sell 25k shares in the next 90 days after lodging an Intent To Sell Form on the 14th of March. If the sale is conducted around the recent share price of US$20.06, it would amount to US$502k. Since June 2021, Jeffrey's direct individual holding has decreased from 8.89m shares to 340.90k. Company insiders have collectively sold US$160m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • Mar 06
Independent Director notifies of intention to sell stock Michael McConnell intends to sell 15k shares in the next 90 days after lodging an Intent To Sell Form on the 1st of March. If the sale is conducted around the recent share price of US$20.35, it would amount to US$305k. Since June 2021, Michael's direct individual holding has increased from 38.52k shares to 42.27k. Company insiders have collectively sold US$156m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Mar 04
CEO & Director recently sold US$5.1m worth of stock On the 2nd of March, Rory Read sold around 250k shares on-market at roughly US$20.26 per share. This was the largest sale by an insider in the last 3 months. This was Rory's only on-market trade for the last 12 months. Reported Earnings • Feb 26
Full year 2021 earnings: EPS exceeds analyst expectations Full year 2021 results: US$0.097 loss per share (up from US$0.15 loss in FY 2020). Revenue: US$1.41b (up 19% from FY 2020). Net loss: US$24.5m (loss narrowed 32% from FY 2020). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 917%. Over the next year, revenue is forecast to grow 10%, compared to a 51% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has increased by 26% per year, which means it is well ahead of earnings. Recent Insider Transactions Derivative • Dec 02
Key Executive notifies of intention to sell stock Jeffrey Citron intends to sell 4m shares in the next 90 days after lodging an Intent To Sell Form on the 23rd of November. If the sale is conducted around the recent share price of US$20.63, it would amount to US$87m. Since December 2020, Jeffrey's direct individual holding has decreased from 9.49m shares to 3.66m. Company insiders have collectively sold US$86m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Nov 30
Key Executive recently sold US$84m worth of stock On the 26th of November, Jeffrey Citron sold around 4m shares on-market at roughly US$20.67 per share. This was the largest sale by an insider in the last 3 months. This was Jeffrey's only on-market trade for the last 12 months. Recent Insider Transactions Derivative • Nov 27
Key Executive notifies of intention to sell stock Jeffrey Citron intends to sell 100k shares in the next 90 days after lodging an Intent To Sell Form on the 22nd of November. If the sale is conducted around the recent share price of US$20.79, it would amount to US$2.1m. Since December 2020, Jeffrey's direct individual holding has decreased from 9.49m shares to 8.74m. Company insiders have collectively sold US$2.1m more than they bought, via options and on-market transactions in the last 12 months. Price Target Changed • Nov 07
Price target increased to US$20.60 Up from US$18.40, the current price target is an average from 12 analysts. New target price is 19% above last closing price of US$17.35. Stock is up 37% over the past year. The company is forecast to post a net loss per share of US$0.01 next year compared to a net loss per share of US$0.15 last year. Reported Earnings • Nov 06
Third quarter 2021 earnings released: US$0.008 loss per share (vs US$0.041 loss in 3Q 2020) The company reported a solid third quarter result with reduced losses, improved revenues and improved control over expenses. Third quarter 2021 results: Revenue: US$358.3m (up 20% from 3Q 2020). Net loss: US$2.03m (loss narrowed 80% from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Price Target Changed • Aug 07
Price target increased to US$17.23 Up from US$15.91, the current price target is an average from 13 analysts. New target price is 17% above last closing price of US$14.70. Stock is up 17% over the past year. Executive Departure • Jul 13
Chief Technology Officer Sagi Dudai has left the company On the 30th of June, Sagi Dudai's tenure as Chief Technology Officer ended after less than a year in the role. As of March 2021, Sagi still personally held 443.12k shares (US$5.2m worth at the time). A total of 3 executives have left over the last 12 months. The current median tenure of the management team is 2.92 years. Recent Insider Transactions Derivative • Jun 26
Key Executive notifies of intention to sell stock Jeffrey Citron intends to sell 175k shares in the next 90 days after lodging an Intent To Sell Form on the 22nd of June. If the sale is conducted around the recent share price of US$14.78, it would amount to US$2.6m. Since September 2020, Jeffrey's direct individual holding has decreased from 9.69m shares to 9.09m. Company insiders have collectively sold US$1.7m more than they bought, via options and on-market transactions in the last 12 months. Executive Departure • Jun 09
Independent Director Gary Steele has left the company On the 4th of June, Gary Steele's tenure as Independent Director ended after 4.9 years in the role. As of March 2021, Gary still personally held 58.12k shares (US$687k worth at the time). A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 1.50 years, which is considered inexperienced in the Simply Wall St Risk Model. Reported Earnings • May 06
First quarter 2021 earnings released: US$0.002 loss per share (vs US$0.015 loss in 1Q 2020) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: US$332.9m (up 18% from 1Q 2020). Net loss: US$376.0k (loss narrowed 90% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Recent Insider Transactions Derivative • Mar 14
Key Executive notifies of intention to sell stock Jeffrey Citron intends to sell 9k shares in the next 90 days after lodging an Intent To Sell Form on the 10th of March. If the sale is conducted around the recent share price of US$12.60, it would amount to US$109k. Since June 2020, Jeffrey's direct individual holding has decreased from 9.69m shares to 9.10m. Company insiders have collectively sold US$2.3m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Mar 10
President of API Platform Group recently sold US$1.1m worth of stock On the 5th of March, Omar Javaid sold around 93k shares on-market at roughly US$12.03 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$771k more than they bought in the last 12 months. Is New 90 Day High Low • Mar 09
New 90-day low: US$12.05 The company is down 10.0% from its price of US$13.42 on 08 December 2020. The American market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Telecom industry, which is down 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$10.50 per share. Reported Earnings • Feb 20
Full year 2020 earnings released: US$0.15 loss per share (vs US$0.08 loss in FY 2019) The company reported a poor full year result with increased losses and weaker control over costs, although revenues were flat. Full year 2020 results: Revenue: US$1.19b (flat on FY 2019). Net loss: US$36.2m (loss widened 86% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Feb 20
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 0.6%. Earnings per share (EPS) also surpassed analyst estimates by 56%. Over the next year, revenue is forecast to grow 11%, compared to a 3.9% growth forecast for the Telecom industry in the US. Recent Insider Transactions Derivative • Feb 18
Key Executive notifies of intention to sell stock Jeffrey Citron intends to sell 150k shares in the next 90 days after lodging an Intent To Sell Form on the 12th of February. If the sale is conducted around the recent share price of US$14.91, it would amount to US$2.2m. Since June 2020, Jeffrey's direct individual holding has decreased from 9.69m shares to 9.10m. Company insiders have collectively sold US$1.2m more than they bought, via options and on-market transactions in the last 12 months. Is New 90 Day High Low • Jan 27
New 90-day high: US$14.05 The company is up 35% from its price of US$10.42 on 28 October 2020. The American market is up 21% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Telecom industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$27.51 per share. Is New 90 Day High Low • Dec 23
New 90-day high: US$13.97 The company is up 41% from its price of US$9.89 on 23 September 2020. The American market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Telecom industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$27.51 per share. Recent Insider Transactions Derivative • Dec 05
Chief Strategy Officer exercised options and sold US$362k worth of stock On the 1st of December, Vinod Lala exercised 37.50k options at a strike price of around US$3.76 and sold these shares for an average price of US$13.40 per share. This trade did not impact their existing holding. Since March 2020, Vinod's direct individual holding has decreased from 184.45k shares to 156.00k. Company insiders have collectively sold US$1.2m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • Nov 12
Key Executive notifies of intention to sell stock Jeffrey Citron intends to sell roughly 75.00k shares in the next 90 days after lodging an Intent To Sell Form on the 5th of November. If the sale is conducted around the recent share price of US$11.38, it would amount to US$854k. Since December 2019, Jeffrey's direct individual holding has decreased from 9.67m shares to 9.59m. Company insiders have collectively sold US$813k more than they bought, via options and on-market transactions in the last 12 months. Analyst Estimate Surprise Post Earnings • Nov 07
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 2.7%. Earnings per share (EPS) also surpassed analyst estimates by 37%. Over the next year, revenue is forecast to grow 4.1%, compared to a 2.0% growth forecast for the Telecom industry in the US. Reported Earnings • Nov 07
Third quarter 2020 earnings released: US$0.041 loss per share The company reported a solid third quarter result with reduced losses and improved revenues and control over expenses. Third quarter 2020 results: Revenue: US$316.6m (up 4.7% from 3Q 2019). Net loss: US$10.1m (loss narrowed 52% from 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Nov 06
New 90-day high: US$12.72 The company is up 2.0% from its price of US$12.53 on 07 August 2020. The American market is up 6.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Telecom industry, which is down 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$14.28 per share.