Announcement • May 12
Optima Technology Group Limited announced that it expects to receive AUD 3.22 million in funding Optima Technology Group Limited announced a private placement of 3,220,000 secured convertible notes at a price of AUD 1 per note for aggregate gross proceeds of AUD 3,220,000 on May 12, 2023. The transaction included participation from certain existing and new sophisticated and professional investors, as well as certain directors. The transaction will be completed in two tranche. The company will issue notes of AUD 300,000 in tranche 1. Tranche 1 is expected to close over the week commencing 15 May 2023. The company will issue maximum of 2,920,000 notes for AUD 2,920,000. The notes will bear fixed interest of 10%. The notes will mature after 18 months of issuance. The notes will be convertible at a price of AUD 0.018 per share. The notes will be non transferable. The Company will hold an Extraordinary General Meeting to approve the Convertible Note Issue. Board Change • Nov 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Geoff Kleemann was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Aug 31
Full year 2022 earnings released: AU$0.059 loss per share (vs AU$0.081 loss in FY 2021) Full year 2022 results: AU$0.059 loss per share (up from AU$0.081 loss in FY 2021). Revenue: AU$15.9m (up 8.0% from FY 2021). Net loss: AU$10.3m (loss narrowed 15% from FY 2021). Over the next year, revenue is forecast to grow 5.3%, compared to a 50% growth forecast for the Software industry in Australia. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 50% per year, which means it is performing significantly worse than earnings. Announcement • Jul 28
Bill Identity Limited Announces the Appointment of Shane Gild as Non-Executive Director to its Board of Directors Bill Identity Limited announced the appointment of Shane Gild as Non-Executive Director to its Board of Directors, effective immediately. Shane has extensive experience in Australia and internationally, having previously served as Executive Director at Canaccord Genuity and as a Senior Director at Deutsche Bank. Shane also currently serves as Non-Executive Director of both PayGroup Limited and The Sustainable Nutrition Group Ltd. and brings over 20 years of corporate, public company director and equity capital markets experience to the Bid Board. The Board is exploring potential candidates for an additional Non-Executive Director appointment. This process is ongoing and targets individuals with significant ESG experience in the UK and Europe ESG markets. The Company will provide an update in due course. Price Target Changed • Apr 27
Price target decreased to AU$0.10 Down from AU$1.30, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of AU$0.10. Stock is down 84% over the past year. The company posted a net loss per share of AU$0.081 last year. Breakeven Date Change • Apr 27
No longer forecast to breakeven The analyst covering Bill Identity no longer expects the company to break even during the foreseeable future. The company was expected to make a profit of AU$300.0k in 2022. New forecast suggests the company will make a loss of AU$2.60m in 2023. Board Change • Apr 27
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. Independent Non-Executive Director Leanne Graham is the most experienced director on the board, commencing their role in 2016. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 23
Bill Identity Limited (ASX:BID) acquired 92% stake in Distribuidora Catarinense de Energia Eletrica. Bill Identity Limited (ASX:BID) acquired 92% stake in Distribuidora Catarinense de Energia Eletrica on April 22, 2022. Turnover of Distribuidora Catarinense in 2021 was BRL 200 million.
Bill Identity Limited (ASX:BID) completed the acquisition of 92% stake in Distribuidora Catarinense de Energia Eletrica on April 22, 2022. Announcement • Feb 14
Bill Identity Limited to Report First Half, 2022 Results on Feb 24, 2022 Bill Identity Limited announced that they will report first half, 2022 results on Feb 24, 2022 Board Change • Dec 17
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. Independent Non-Executive Director Leanne Graham is the most experienced director on the board, commencing their role in 2016. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Executive Departure • Dec 03
Chief Operating Officer Marco Miranda has left the company On the 3rd of December, Marco Miranda was replaced as CEO by Michele Garra after less than a year in the role. We don't have any record of a personal shareholding under Marco's name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 1.04 years, which is considered inexperienced in the Simply Wall St Risk Model. Under Marco's leadership, the company delivered a total shareholder return of -12%. Executive Departure • Oct 10
MD & Executive Director Guy Maine has left the company On the 30th of September, Guy Maine's tenure as MD & Executive Director of the company ended after 3.7 years in the role. As of June 2021, Guy still personally held 208.03k shares (AU$108k worth at the time). Guy is the only executive to leave the company over the last 12 months. The current median tenure of the management team is less than a year, which is considered inexperienced in the Simply Wall St Risk Model. Under Guy's leadership, the company delivered a total shareholder return of 146%. Reported Earnings • Sep 01
Full year 2021 earnings released: AU$0.081 loss per share (vs AU$0.055 loss in FY 2020) The company reported a mediocre full year result with increased losses and weaker control over costs, although revenues improved. Full year 2021 results: Revenue: AU$14.7m (up 57% from FY 2020). Net loss: AU$12.1m (loss widened 76% from FY 2020). Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has fallen by 26% per year, which means it is performing significantly worse than earnings. Breakeven Date Change • Jul 30
Forecast breakeven pushed back to 2023 The analyst covering Bill Identity previously expected the company to break even in 2022. New forecast suggests losses will reduce by 15% per year to 2022. The company is expected to make a profit of AU$1.50m in 2023. Average annual earnings growth of 66% is required to achieve expected profit on schedule. Recent Insider Transactions • Apr 26
Independent Non-Executive Director recently bought AU$101k worth of stock On the 22nd of April, David Hancock bought around 135k shares on-market at roughly AU$0.74 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold AU$461k more in shares than they bought in the last 12 months. Recent Insider Transactions • Mar 25
MD & Executive Director recently sold AU$602k worth of stock On the 23rd of March, Guy Maine sold around 700k shares on-market at roughly AU$0.86 per share. This was the largest sale by an insider in the last 3 months. Guy has been a seller over the last 12 months, reducing personal holdings by AU$582k. Reported Earnings • Mar 02
First half 2021 earnings released: AU$0.032 loss per share (vs AU$0.034 loss in 1H 2020) The company reported a solid first half result with improved revenues and control over costs, although losses increased. First half 2021 results: Revenue: AU$6.77m (up 60% from 1H 2020). Net loss: AU$4.33m (loss widened 4.3% from 1H 2020). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 91% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Feb 22
New 90-day low: AU$1.02 The company is down 13% from its price of AU$1.17 on 24 November 2020. The Australian market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is down 2.0% over the same period. Major Estimate Revision • Jan 28
Analysts update estimates The 2021 consensus revenue estimate increased from AU$14.6m to AU$15.7m. The company's losses in 2021 are expected to worsen with analysts lowering their EPS forecasts from -AU$0.006 to -AU$0.008. The Software industry in Australia is expected to see an average net income growth of 9.4% next year. The consensus price target of AU$1.53 was unchanged from the last update. Share price stayed mostly flat at AU$1.12 over the past week. Announcement • Jan 04
Bill Identity Limited Announces Executive Changes Bill Identity Limited announced it has appointed prominent Australian media executive Peter Tonagh as its Non-Executive Chairman with effect from 4 January 2021. He will replace Geoff Kleemann who has been serving as Interim Chairman but will remain a Non-Executive Director. Peter currently serves as Chairman of Quantium, and is the former Lead Independent Director for Village Roadshow Limited. Peter is Chairman of not-for-profit media organisation, Bus Stop Films, and is a Council Member of the Australian Film Television and Radio School (AFTRS). Peter recently led a consortium to save newswire service, AAP, which now operates as a not-for-profit organisation. Peter is the former CEO of Foxtel and News Corp. Australia after having served as Chief Operating Officer of both companies. He also held the role of Foxtel's Chief Financial Officer for nine years. Announcement • Dec 03
BidEnergy Limited (ASX:BID) acquired Optima Energy Management Holdings Ltd from Daniel Root, Paul Healey, Stephen John Wright and Rosemary Dianne Wright for AUD 11.5 million. BidEnergy Limited (ASX:BID) acquired Optima Energy Management Holdings Ltd from Daniel Root, Paul Healey, Stephen John Wright and Rosemary Dianne Wright("sellers") for AUD 11.5 million on December 3, 2020. Consideration will be paid as AUD 5.8 million in cash upfront, 3.4 million Bid shares are to be issued to sellers and a deferred payment, of AUD 1.81 million payable in cash, subject to Optima achieving certain performance milestones regarding revenue and costs within the year following the completion of the Acquisition but this payment could be higher or lower. Bid to undertake a fully underwritten institutional placement to raise AUD 15 million at AUD 1.07 per share to fund the Optima acquisition cash consideration, UK and EU sales and marketing costs, and general working capital requirements. The Acquisition will see Bid integrate key elements of Optima’s platform into Bid’s Robotic Processing Automation platform to build a ‘best of breed’ utility bill management solution for the UK and European markets. Bid acquired Optima on a multiple of ~2.9x FY20 revenue. Optima generated revenue of AUD 3.9 million and was EBITDA positive in FY20. Optima’s management will work with Bid to transition all key customers as soon as possible. Optima’s Managing Director Steven Wright will be retained for at least 12 months to assist with the transition of Optima clients to the Bid platform (with the potential for a consultancy arrangement thereafter).
BidEnergy Limited (ASX:BID) completed the acquisition of Optima Energy Management Holdings Ltd from Daniel Root, Paul Healey, Stephen John Wright and Rosemary Dianne Wright on December 3, 2020. Is New 90 Day High Low • Oct 06
New 90-day high: AU$1.23 The company is up 63% from its price of AU$0.75 on 08 July 2020. The Australian market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 12% over the same period. Announcement • Oct 04
Bidenergy Announces to Enters into a Four-Year Agreement with Jones Lang Lasalle BidEnergy announced it has entered into a four-year agreement with Jones Lang LaSalle to provide an end-to- end solution supporting one of JLL's global banking clients across 37 countries. BID's agreement with JLL follows a successful pilot in the US and Canada for the automation of collection, validation and payment of bills, which demonstrated the scalability and global applicability of BID's RPA technology. The agreement validates the significant benefit which BID's RPA platform can provide multi- national, multi-site companies where there is a need for automation of utility bill management for a large number of bills from multiple sources. The agreement will also see BID entering several new geographies for the first time, including Hong Kong, Mexico and the Middle East. BID will officially launch its technology with JLL in October. There are no conditions that need to be satisfied prior to the agreement commencing. The agreement represents a further significant contract in the facility management (FM) sector for BID with a large-scale FM company, and it supports the Company's strategy that local and global facility managers are a key channel for the business, as they act as a gatekeeper to local and global multi-sites which is where BID's technology is best applied. Is New 90 Day High Low • Sep 18
New 90-day high: AU$1.12 The company is up 84% from its price of AU$0.61 on 19 June 2020. The Australian market is up 1.0% 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 • Aug 27
BidEnergy Limited announced that it expects to receive AUD 0.5 million in funding BidEnergy Limited (ASX:BID) announced a private placement of 574,713 common shares at a price of AUD 0.87 per share for gross proceeds of AUD 500,000 on August 26, 2020. The transaction will include participation from David. Hancock who will also join company's board of director. The transaction is subject to approval at company's annual general meeting. The transaction is expected to close on November 18, 2020.