New Risk • Jan 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 16% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (AU$36.3m market cap, or US$22.5m). Price Target Changed • Sep 10
Price target increased by 7.7% to AU$0.70 Up from AU$0.65, the current price target is provided by 1 analyst. New target price is 36% above last closing price of AU$0.52. Stock is down 10% over the past year. The company posted a net loss per share of US$0.058 last year. Price Target Changed • Aug 19
Price target decreased by 19% to AU$0.65 Down from AU$0.80, the current price target is provided by 1 analyst. New target price is 35% above last closing price of AU$0.48. Stock is down 14% over the past year. The company posted a net loss per share of US$0.001 last year. Announcement • Jul 30
Adacel Technologies Limited to Report Fiscal Year 2024 Results on Aug 14, 2024 Adacel Technologies Limited announced that they will report fiscal year 2024 results on Aug 14, 2024 Reported Earnings • Feb 22
First half 2024 earnings released: US$0.018 loss per share (vs US$0.003 profit in 1H 2023) First half 2024 results: US$0.018 loss per share (down from US$0.003 profit in 1H 2023). Revenue: US$13.1m (down 7.1% from 1H 2023). Net loss: US$1.36m (down US$1.58m from profit in 1H 2023). Revenue is forecast to grow 20% 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, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Feb 16
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 19% to AU$0.88. The fair value is estimated to be AU$0.72, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Announcement • Feb 09
Adacel Technologies Limited to Report First Half, 2024 Results on Feb 21, 2024 Adacel Technologies Limited announced that they will report first half, 2024 results on Feb 21, 2024 Price Target Changed • Nov 09
Price target increased by 20% to AU$0.90 Up from AU$0.75, the current price target is provided by 1 analyst. New target price is 13% above last closing price of AU$0.80. Stock is up 11% over the past year. The company posted a net loss per share of US$0.001 last year. Announcement • Sep 21
Adacel Technologies Limited, Annual General Meeting, Nov 21, 2023 Adacel Technologies Limited, Annual General Meeting, Nov 21, 2023, at 04:30 AUS Eastern Standard Time. Buying Opportunity • Aug 23
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 18%. The fair value is estimated to be AU$0.68, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Announcement • Aug 17
Adacel Technologies Limited Announces Company Secretary Changes Adacel Technologies Limited announced the appointed Ms. Sally McDow as Company Secretary, effective 17 August 2023. Ms. Eryl Baron has resigned as Company Secretary, effective 17 August 2023. Sally is an employee of Boardroom Pty Limited (the Company's Corporate Secretarial provider). Sally is a corporate governance and finance professional with extensive experience as a company secretary, and governance advisor working with both private and public listed companies. She is the holder of a Bachelor of laws (LLB), admitted as a solicitor, and holder of a Master of Business Administration (MBA), a graduate of the Governance Institute of Australia and a graduate of the Australian Institute of Company Directors. Sally is the person appointed under Listings Rule 12.6 to be responsible for communication with the ASX in relation to Listing Rules Matters. Price Target Changed • Aug 17
Price target decreased by 12% to AU$0.75 Down from AU$0.85, the current price target is provided by 1 analyst. New target price is 34% above last closing price of AU$0.56. Stock is down 36% over the past year. The company posted a net loss per share of US$0.001 last year. Reported Earnings • Aug 17
Full year 2023 earnings released: US$0.001 loss per share (vs US$0.043 profit in FY 2022) Full year 2023 results: US$0.001 loss per share (down from US$0.043 profit in FY 2022). Revenue: US$28.7m (up 4.0% from FY 2022). Net loss: US$77.0k (down 102% from profit in FY 2022). Revenue is forecast to grow 5.3% p.a. on average during the next 2 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 32% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Announcement • Aug 09
Adacel Technologies Limited to Report Fiscal Year 2023 Results on Aug 16, 2023 Adacel Technologies Limited announced that they will report fiscal year 2023 results on Aug 16, 2023 Announcement • May 08
Adacel Technologies Limited Announces CFO Changes Adacel Technologies Limited announced the departure of its CFO, Mauro Ferrara. Mr. Ferrara resigned from his current position to pursue other business interests. Daniel Verret, Adacel's CEO, will assume the interim CFO responsibilities until a replacement is named. Mr. Daniel Verret joined Adacel in October 2018 as the company's CFO to oversee the group's finance, information technology, and human resources departments, and was appointed the Company's CEO in 2020. Reported Earnings • Feb 21
First half 2023 earnings released: EPS: US$0.003 (vs US$0.013 in 1H 2022) First half 2023 results: EPS: US$0.003 (down from US$0.013 in 1H 2022). Revenue: US$14.7m (up 16% from 1H 2022). Net income: US$218.0k (down 77% from 1H 2022). Profit margin: 1.5% (down from 7.5% in 1H 2022). Revenue is forecast to grow 6.0% 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 increased by 26% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Feb 20
Adacel Technologies Limited Declares an Interim Dividend (Unfranked) for Six Months Ended December 31, 2022, Payable on 26 April 2023 The Board of Adacel Technologies Limited has declared an interim dividend of for six months ended December 31, 2022 AUD 1.50 cents per share, unfranked. The dividend will have a Record Date of 28 February 2023 and will be paid on 26 April 2023. Announcement • Feb 06
Adacel Technologies Limited to Report First Half, 2023 Results on Feb 23, 2023 Adacel Technologies Limited announced that they will report first half, 2023 results on Feb 23, 2023 Announcement • Dec 22
Adacel Technologies Limited Announces Executive Changes Adacel Technologies Limited has appointed Ms Eryl Baron as Company Secretary, effective 22 December 2022. Ms Rebecca Weir has resigned as Company Secretary, effective 22 December 2022. Eryl is an employee of Boardroom Pty Limited (the Company's Corporate Secretarial provider). Eryl is a corporate governance and finance professional with extensive experience as a company secretary, governance advisor and CFO working with both private and public listed companies. Eryl was Chief Financial Officer & Company Secretary of an ASX-listed mining company for 15 years and prior to that worked as CFO or Financial Controller for small to medium public and private companies in the FMCG/Retail and Publishing spaces. Eryl is currently the company secretary to a small number of ASX-listed and unlisted entities and advises companies in a number of sectors including health care, aquaculture and investment management. She is a member of the Governance Institute of Australia. Board Change • Nov 16
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. 5 highly experienced directors. Independent Non-Executive Chairman Mike McConnell was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Oct 17
Adacel Technologies Limited, Annual General Meeting, Nov 16, 2022 Adacel Technologies Limited, Annual General Meeting, Nov 16, 2022, at 08:30 AUS Eastern Standard Time. Location: PwC, Level 19, 2 Riverside Quay Southbank, Victoria Australia Agenda: To receive and consider the Financial Report of the Company and its controlled entities and the related Directors' and Auditor's Reports in respect of the financial year ended 30 June 2022; to consider Adoption of Remuneration Report; to consider Re-election of Mr Silvio Salom as a Director; to consider Re-election of Ms Natalya Jurcheshin as Director; and to consider Adoption of Proposed Constitution. Announcement • Aug 26
Adacel Technologies Limited, Annual General Meeting, Sep 16, 2022 Adacel Technologies Limited, Annual General Meeting, Sep 16, 2022. Reported Earnings • Aug 25
Full year 2022 earnings released: EPS: US$0.043 (vs US$0.072 in FY 2021) Full year 2022 results: EPS: US$0.043 (down from US$0.072 in FY 2021). Revenue: US$30.3m (flat on FY 2021). Net income: US$3.26m (down 41% from FY 2021). Profit margin: 11% (down from 18% in FY 2021). Over the next year, revenue is forecast to grow 9.2%, compared to a 37% growth forecast for the Software industry in Australia. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Announcement • Aug 24
Adacel Technologies Limited Declares Final Dividend for the Year Ended June 30, 2022, Payable on 10 October 2022 The Board of Adacel Technologies Limited has declared a final dividend of AUD 3.25 cents per share, unfranked. The total dividend declared for the year of AUD 6.00 cents per share, is the same as for FY2021. The dividend will have a Record Date of 1 September 2022 and will be paid on 10 October 2022. Ex Date is August 31, 2022. Announcement • Aug 04
Adacel Technologies Limited to Report Fiscal Year 2022 Results on Aug 24, 2022 Adacel Technologies Limited announced that they will report fiscal year 2022 results After-Market on Aug 24, 2022 Price Target Changed • Apr 27
Price target decreased to AU$1.30 Down from AU$1.50, the current price target is provided by 1 analyst. New target price is 21% above last closing price of AU$1.07. Stock is up 19% over the past year. The company posted earnings per share of US$0.072 last year. Board Change • Apr 27
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. 5 highly experienced directors. Independent Non-Executive Chairman Mike McConnell was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Apr 07
Adacel Technologies Limited Reconfirms Earnings Guidance for the Balance of Fiscal Year 2022 Adacel Technologies Limited reconfirmed earnings guidance for the balance of fiscal year 2022. Adacel reported that over 97% of its forecasted revenues for fiscal year 2022 are either booked or in backlog. Based on current forecasts for the balance of fiscal year 2022 and as advised during the first half of fiscal year 2022 investor call on 24 February 2022, the company reconfirms its expected profit before tax of between USD 5.7 million and USD 6.0 million. Price Target Changed • Mar 11
Price target decreased to AU$1.30 Down from AU$1.50, the current price target is provided by 1 analyst. New target price is 31% above last closing price of AU$0.99. Stock is up 8.7% over the past year. The company posted earnings per share of US$0.072 last year. Announcement • Feb 25
Adacel Technologies Limited Announces Ordinary Fully Paid Dividend for the Six Months Ended December 31, 2021, Payable on April 26, 2022 Adacel Technologies Limited announced ordinary fully paid dividend of AUD 0.02750000 per security for the six months ended December 31, 2021. Record date is March 3, 2022. Ex-date is March 2, 2022. Payment date is April 26, 2022. Reported Earnings • Feb 25
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (down US$3.96m from profit in 1H 2021). Profit margin: (down from 19% in 1H 2021). Over the next year, revenue is forecast to grow 18%, compared to a 30% growth forecast for the industry in Australia. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Announcement • Feb 16
Adacel Technologies Limited to Report First Half, 2022 Results on Feb 24, 2022 Adacel Technologies Limited announced that they will report first half, 2022 results on Feb 24, 2022 Board Change • Dec 06
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. 5 highly experienced directors. Independent Non-Executive Chairman Mike McConnell was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Upcoming Dividend • Aug 24
Upcoming dividend of AU$0.033 per share Eligible shareholders must have bought the stock before 31 August 2021. Payment date: 15 September 2021. Trailing yield: 4.6%. Lower than top quartile of Australian dividend payers (5.1%). Higher than average of industry peers (1.0%). Reported Earnings • Aug 13
Full year 2021 earnings released: EPS AU$0.19 (vs AU$0.047 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: AU$88.2m (up 122% from FY 2020). Net income: AU$14.7m (up 304% from FY 2020). Profit margin: 17% (up from 9.2% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Aug 12
Adacel Technologies Limited Announces Earnings Guidance for the Fiscal Year 2022 Adacel Technologies Limited announced earnings guidance for the fiscal year 2022. The Company anticipates profit before tax of between USD 5.7 million and USD 6.0 million. Valuation Update With 7 Day Price Move • Aug 12
Investor sentiment improved over the past week After last week's 36% share price gain to AU$1.39, the stock trades at a trailing P/E ratio of 16.4x. Average forward P/E is 40x in the Software industry in Australia. Total loss to shareholders of 1.6% over the past three years. Announcement • Feb 26
Adacel Technologies Limited Awards New ATM Contract by Saint Lucia Air and Seaports Authority Adacel Technologies Limited announced a new contract award from the Saint Lucia Air and Seaports Authority (SLASPA) for an air traffic management (ATM) system. SLASPA will take delivery in fiscal 2022 of Adacel's state-of-the-art Aurora ATM for two airports as part of the Authority's plan to transform Saint Lucia's economy and revolutionize its position in the regional and international aviation industry. The Aurora ATM system features the latest technology in surveillance and flight data processing and provides controllers with state-of-the-art tools for Approach and Tower control. The system includes an advanced airspace situation display, conflict detection and coordination tools, and electronic flight strips. Is New 90 Day High Low • Feb 22
New 90-day high: AU$1.02 The company is up 21% from its price of AU$0.84 on 24 November 2020. The Australian market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is down 2.0% over the same period. Reported Earnings • Feb 20
First half 2021 earnings released: EPS AU$0.052 (vs AU$0.015 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: AU$20.6m (up 4.4% from 1H 2020). Net income: AU$3.96m (up 233% from 1H 2020). Profit margin: 19% (up from 6.0% in 1H 2020). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 27% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Feb 20
Revenue misses expectations Revenue missed analyst estimates by 5.1%. Over the next year, revenue is forecast to grow 12%, compared to a 24% growth forecast for the Software industry in Australia. Announcement • Jan 21
Adacel Technologies Limited to Report First Half, 2021 Results on Feb 19, 2021 Adacel Technologies Limited announced that they will report first half, 2021 results on Feb 19, 2021 Is New 90 Day High Low • Dec 09
New 90-day high: AU$0.93 The company is up 36% from its price of AU$0.69 on 10 September 2020. The Australian market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 19% over the same period. Is New 90 Day High Low • Nov 18
New 90-day high: AU$0.84 The company is up 19% from its price of AU$0.70 on 20 August 2020. The Australian market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 10.0% over the same period. Announcement • Oct 12
Adacel Technologies Limited Announces Changes in Company Secretary Adacel Technologies Limited appointed Ms Rebecca Weir as Company Secretary, effective 9 October 2020. Rebecca is an employee of Boardroom Pty Limited and is the appointed Company Secretary for a number of Companies. Mr. Hasaka Martin has resigned as Company Secretary, effective 9 October 2020. Announcement • Aug 12
Adacel Technologies Limited to Report Fiscal Year 2020 Results on Aug 17, 2020 Adacel Technologies Limited announced that they will report fiscal year 2020 results at 9:07 AM, GMT Standard Time on Aug 17, 2020