Board Change • Mar 05
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. 1 highly experienced director. Independent Non-Executive Chairman Brendan Fleiter was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Dec 27
Whispir Gives Nod to Revised Soprano Bid The takeover battle for mobile messaging technology company Whispir Limited (ASX:WSP) is set to push into the new year after an independent committee of directors recommended a revised offer from Soprano Design Technology but rejected a rival bid at a higher price. Whispir, a $73 million technology company, on Friday said its independent board committee was now recommending shareholders accept a revised offer from Soprano at 55c per share, in the absence of a superior proposal, following an announcement from the suitor that it would lift the offer from 52c. Whispir founder and chief executive Jeromy Wells, who is not a member of the independent committee considering the takeover, has not made a recommendation on the Soprano bid. Zipline Cloud as made a rival bid, backed by Pendula, to acquire Whispir for 60c per share, which is 9.1% higher than the Soprano offer. Whispir is a global communications intelligence company that supplies a communications-as-a-service platform. It enables omnichannel interactions between organisations, systems and people. Announcement • Nov 29
Whispir Limited has completed a Follow-on Equity Offering in the amount of AUD 3.25 million. Whispir Limited has completed a Follow-on Equity Offering in the amount of AUD 3.25 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 12,740,000
Price\Range: AUD 0.25
Discount Per Security: AUD 0.015
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 260,000
Price\Range: AUD 0.25
Discount Per Security: AUD 0.015
Transaction Features: Subsequent Direct Listing Announcement • Nov 08
Soprano Design Limited made an offer to acquire remaining 85% stake in Whispir Limited (ASX:WSP) from Forager Funds Management Pty Ltd., Spheria Asset Management Pty Ltd, Australian Super Pty Ltd and others for AUD57 million. Soprano Design Limited made an offer to acquire remaining 85% stake in Whispir Limited (ASX:WSP) from Forager Funds Management Pty Ltd., Spheria Asset Management Pty Ltd, Australian Super Pty Ltd and others for AUD57 million on November 6, 2023. Jarden Australia Pty Ltd is acting as financial adviser and Herbert Smith Freehills is acting as legal adviser to Soprano DTA in relation to the Offer. RBC Capital Markets, Australia acted as financial advisor to Whispir Limited. New Risk • Oct 31
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 11% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-AU$25m free cash flow). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (AU$383k net loss in 3 years). Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (11% increase in shares outstanding). Market cap is less than US$100m (AU$41.3m market cap, or US$26.3m). Announcement • Oct 23
Whispir Limited Announces Resignation of Jeromy Wells from the Position of CEO Whispir Limited announced that Jeromy Wells has announced his resignation from the position of CEO and will serve his contractual four-month notice period before transitioning to an Executive Director role focused on driving strategic growth initiatives. The Board will commence an external search for a replacement CEO. Announcement • Oct 19
Whispir Limited, Annual General Meeting, Nov 22, 2023 Whispir Limited, Annual General Meeting, Nov 22, 2023, at 10:00 AUS Eastern Standard Time. Location: Whispir Offices, Level 29, 385 Bourke Street Melbourne 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 2023; to consider adoption of Remuneration Report (non-binding vote); to consider re-election of Sarah Morgan as Director; and to consider other matters. Announcement • Sep 18
Whispir Limited Announces Product Innovation Showcase Whispir Limited will be hosting a Product Innovation Showcase on September 2023. The event will take place as a webinar for investors and analysts commencing at 11.30am. This Showcase will provide valuable insights for shareholders and prospective investors into Whispir innovations, demonstrating new products in action. In particular, the event will launch four new services: Whispir Talkbots - Driving conversion with Voice AI. Launching Whispir's AI-powered voice solution that extends communication use cases and drives tangible business value. Whispir Compose AI - Harnessing GenAI to optimise content. Launching Whispir's Generative AI service, increasing the efficiency of knowledge workers and enabling more effective, outcome-oriented communication. Whispir Compliance Automation - Cross-border messaging compliance. Learn how Whispir's new service mitigates compliance risk with software approach to emerging regulations across multiple territories. Whispir Verify - Secure E2E Identity Verification. Enhancing security focus with the launch of a new standalone offering for identity challenge and verification. Investors and analysts will have the opportunity to engage directly with Chief Executive Officer, Jeromy Wells, and Chief Product Officer, Jon Wilkinson-Baldry through a Q&A session at the end of the Showcase. Major Estimate Revision • Sep 03
Consensus EPS estimates fall by 127% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from AU$57.6m to AU$54.4m. Losses expected to increase from AU$0.019 per share to AU$0.042. Software industry in Australia expected to see average net income growth of 27% next year. Consensus price target up from AU$0.35 to AU$0.37. Share price fell 9.1% to AU$0.40 over the past week. Breakeven Date Change • Aug 29
No longer forecast to breakeven The analyst covering Whispir no longer expects the company to break even during the foreseeable future. The company was expected to make a profit of AU$5.26m in 2026. New forecast suggests the company will make a loss of AU$383.1k in 2026. New Risk • Aug 29
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$25m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-AU$25m free cash flow). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$267k net loss in 2 years). Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (AU$42.6m market cap, or US$27.4m). New Risk • Aug 20
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Currently unprofitable and not forecast to become profitable over next 2 years (AU$1.2m net loss in 2 years). Market cap is less than US$100m (AU$50.2m market cap, or US$32.2m). Board Change • Jun 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. 1 highly experienced director. Independent Non-Executive Chairman Brendan Fleiter was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jun 24
Whispir Limited announced that it expects to receive AUD 7.5 million in funding from Riverfort Global Opportunities Pcc Ltd Whispir Limited announced that it has signed a funding agreement with RiverFort Global Capital Ltd to issue unsecured convertible note funding facility of AUD 7.5 million on June 23, 2023. The notes will bear interest rate of 12% per annum of amounts Drawn. Each Drawdown matures on the day which is 18 months after the Execution Date. Each draw down will be repaid over an 18-month period. For the first four months following a Drawdown there are no repayments. Then 1/14th of the drawdown plus interest will be paid to the Investor every month for the remaining 14 months. The Convertible Notes rank in priority to all unsecured obligations of the Company, other than those mandatorily preferred at law. Under the Funding Agreement, the Company may request additional drawdowns of up to a further AUD 6.5 million, in exchange for the issue of up to a further 6,500,000 convertible notes to RiverFort. Additional drawdowns are subject to mutual agreement between the company and RiverFort
On the same date, company issued convertible debenture for AUD 1,000,000 each with a face value of AUD 1. Announcement • Jun 23
Whispir Limited Announces Management Changes Whispir Limited announced that non-executive directors Sara La Mela and Aled Miles will be resigning from the Board effective 30 June 2023. The Company would like to acknowledge Sara La Mela's and Aled Miles' contributions to the Company having served on the Board since 1 February 2019 and 1 December 2020 respectively. Consistent with the Company's initiatives to reduce costs, the Company will not be looking to appoint replacements for Ms. La Mela or Mr. Miles at this time. The Company also announced that Sophie Karzis has resigned as Company Secretary of the Company, effective 30 June 2023. Ms. Karzis served as Company Secretary since February 2019. CFO, Jenni Pilcher has been appointed Company Secretary, effective immediately. Price Target Changed • May 10
Price target decreased by 31% to AU$0.52 Down from AU$0.76, the current price target is an average from 2 analysts. New target price is 87% above last closing price of AU$0.28. Stock is down 73% over the past year. The company is forecast to post a net loss per share of AU$0.15 next year compared to a net loss per share of AU$0.17 last year. Major Estimate Revision • Feb 23
Consensus revenue estimates fall by 10% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from AU$66.6m to AU$59.7m. Forecast losses increased from -AU$0.112 to -AU$0.153 per share. Software industry in Australia expected to see average net income growth of 24% next year. Consensus price target down from AU$1.14 to AU$0.84. Share price fell 12% to AU$0.40 over the past week. Reported Earnings • Feb 18
First half 2023 earnings released: AU$0.12 loss per share (vs AU$0.06 loss in 1H 2022) First half 2023 results: AU$0.12 loss per share (further deteriorated from AU$0.06 loss in 1H 2022). Revenue: AU$28.8m (down 27% from 1H 2022). Net loss: AU$13.7m (loss widened 96% from 1H 2022). Revenue is forecast to grow 11% 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 fallen by 26% per year but the company’s share price has fallen by 36% per year, which means it is performing significantly worse than earnings. Price Target Changed • Feb 17
Price target decreased by 8.8% to AU$1.04 Down from AU$1.14, the current price target is an average from 3 analysts. New target price is 154% above last closing price of AU$0.41. Stock is down 80% over the past year. The company is forecast to post a net loss per share of AU$0.11 next year compared to a net loss per share of AU$0.17 last year. Price Target Changed • Jan 30
Price target decreased by 8.1% to AU$1.14 Down from AU$1.24, the current price target is provided by 1 analyst. New target price is 138% above last closing price of AU$0.48. Stock is down 79% over the past year. The company is forecast to post a net loss per share of AU$0.098 next year compared to a net loss per share of AU$0.17 last year. Breakeven Date Change • Nov 26
No longer forecast to breakeven The 3 analysts covering Whispir no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of AU$310.0k in 2025. New consensus forecast suggests the company will make a loss of AU$153.0k in 2025. Announcement • Nov 21
Whispir Limited Announces Retirement of Scott Tong as Director Whispir Limited announced that Mr. Scott Tong, who is retiring at the conclusion of the AGM to be held on 23 November 2022, has advised that he will not be standing for election as a Director. Breakeven Date Change • Nov 20
Forecast to breakeven in 2025 The 3 analysts covering Whispir expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 63% per year to 2024. The company is expected to make a profit of AU$310.0k in 2025. Average annual earnings growth of 82% is required to achieve expected profit on schedule. Price Target Changed • Nov 16
Price target decreased to AU$1.24 Down from AU$1.57, the current price target is an average from 3 analysts. New target price is 114% above last closing price of AU$0.58. Stock is down 73% over the past year. The company is forecast to post a net loss per share of AU$0.11 next year compared to a net loss per share of AU$0.17 last year. Breakeven Date Change • Nov 02
No longer forecast to breakeven The 3 analysts covering Whispir no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of AU$1.02m in 2025. New consensus forecast suggests the company will make a loss of AU$2.14m in 2025. Major Estimate Revision • Oct 28
Consensus EPS estimates fall by 21% The consensus outlook for earnings per share (EPS) in 2023 has deteriorated. 2023 revenue forecast decreased from AU$75.8m to AU$71.9m. Losses expected to increase from AU$0.09 per share to AU$0.11. Software industry in Australia expected to see average net income growth of 22% next year. Consensus price target down from AU$2.35 to AU$1.57. Share price fell 36% to AU$0.50 over the past week. Breakeven Date Change • Oct 27
No longer forecast to breakeven The 3 analysts covering Whispir no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of AU$6.70m in 2025. New consensus forecast suggests the company will make a loss of AU$1.79m in 2025. Announcement • Oct 12
Whispir Limited, Annual General Meeting, Nov 23, 2022 Whispir Limited, Annual General Meeting, Nov 23, 2022, at 11:00 AUS Eastern Standard Time. Major Estimate Revision • Aug 23
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 losses forecast to reduce from -AU$0.11 to -AU$0.09 per share. Revenue forecast steady at AU$75.8m. Software industry in Australia expected to see average net income growth of 21% next year. Consensus price target down from AU$2.78 to AU$2.47. Share price fell 13% to AU$1.04 over the past week. Reported Earnings • Aug 18
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: AU$0.17 loss per share (down from AU$0.089 loss in FY 2021). Revenue: AU$70.6m (up 48% from FY 2021). Net loss: AU$19.4m (loss widened 101% from FY 2021). Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) missed analyst estimates by 17%. Over the next year, revenue is forecast to grow 7.1%, compared to a 41% growth forecast for the Software industry in Australia. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Price Target Changed • Aug 18
Price target decreased to AU$2.47 Down from AU$2.85, the current price target is an average from 4 analysts. New target price is 125% above last closing price of AU$1.10. Stock is down 49% over the past year. The company is forecast to post a net loss per share of AU$0.087 next year compared to a net loss per share of AU$0.17 last year. Breakeven Date Change • Jul 26
Forecast to breakeven in 2025 The 4 analysts covering Whispir expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of AU$6.70m in 2025. Average annual earnings growth of 59% is required to achieve expected profit on schedule. Breakeven Date Change • Jun 30
Forecast to breakeven in 2025 The 4 analysts covering Whispir expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of AU$5.44m in 2025. Average annual earnings growth of 57% is required to achieve expected profit on schedule. Recent Insider Transactions • May 12
Co-founder recently sold AU$432k worth of stock On the 10th of May, Jeromy Wells sold around 400k shares on-market at roughly AU$1.08 per share. This was the largest sale by an insider in the last 3 months. Jeromy has been a seller over the last 12 months, reducing personal holdings by AU$323k. Price Target Changed • Apr 27
Price target decreased to AU$3.32 Down from AU$4.16, the current price target is an average from 5 analysts. New target price is 126% above last closing price of AU$1.47. Stock is down 57% over the past year. The company is forecast to post a net loss per share of AU$0.15 next year compared to a net loss per share of AU$0.089 last year. Price Target Changed • Feb 24
Price target decreased to AU$3.66 Down from AU$4.16, the current price target is an average from 5 analysts. New target price is 94% above last closing price of AU$1.88. Stock is down 55% over the past year. The company is forecast to post a net loss per share of AU$0.15 next year compared to a net loss per share of AU$0.089 last year. Reported Earnings • Feb 24
First half 2022 earnings: EPS and revenues exceed analyst expectations First half 2022 results: AU$0.06 loss per share (down from AU$0.033 loss in 1H 2021). Revenue: AU$39.4m (up 70% from 1H 2021). Net loss: AU$6.99m (loss widened 102% from 1H 2021). Revenue exceeded analyst estimates by 31%. Earnings per share (EPS) also surpassed analyst estimates by 13%. Over the next year, revenue is forecast to grow 14%, compared to a 30% growth forecast for the industry in Australia. Announcement • Feb 22
Whispir Limited Provides Revenue Guidance for the Second Half and Reaffirms revenue Guidance for the Fiscal Year 2022 Whispir Limited provided revenue guidance for the second half and reaffirmed revenue guidance for the fiscal year 2022. For the year, the company's revenue guidance is unchanged at between $64 million and $68 million, so it kind of implies the second half between $25 million and $29 million. So that's down $35 million in the first half and flat versus the PCP. Announcement • Feb 08
Whispir Limited to Report First Half, 2022 Results on Feb 22, 2022 Whispir Limited announced that they will report first half, 2022 results on Feb 22, 2022 Recent Insider Transactions • Jan 07
Co-founder recently bought AU$99k worth of stock On the 29th of December, Jeromy Wells bought around 47k shares on-market at roughly AU$2.10 per share. This was the largest purchase by an insider in the last 3 months. This was Jeromy's only on-market trade for the last 12 months. Board Change • Jan 02
High number of new directors Non-Executive Director Scott Tong was the last director to join the board, commencing their role in 2021. Major Estimate Revision • Nov 25
Consensus revenue estimates increase to AU$65.5m The consensus outlook for revenues in 2022 has improved. 2022 revenue forecast increased from AU$58.7m to AU$65.5m. Forecast losses expected to reduce from -AU$0.17 to -AU$0.16 per share. Software industry in Australia expected to see average net income growth of 17% next year. Consensus price target up from AU$4.22 to AU$4.40. Share price was steady at AU$2.20 over the past week. Announcement • Nov 24
Whispir Limited Provides Guidance Update for the Year Ending 30 June 2022 Whispir Limited announced that the full year revenue for the year ending 30 June 2022 (FY22) is now forecast to be in the range of $64 million to $68 million. This reflects an improvement on revenue for FY21 of between 34% and 42%, and an improvement on prior guidance of between 11.9% and 13.0%. Whispir had previously advised, on 20 October 2021, that FY22 revenue was expected to be in the range of $57.2 million to $60.2 million. Recent Insider Transactions Derivative • Oct 02
Co-founder exercised options to buy AU$1.5m worth of stock. On the 30th of September, Jeromy Wells exercised options to buy 671k shares at a strike price of around AU$0.35, costing a total of AU$237k. This transaction amounted to 6.9% of their direct individual holding at the time of the trade. Since December 2020, Jeromy has owned 9.77m shares directly. This was the only transaction from an insider over the last 12 months. Reported Earnings • Aug 25
Full year 2021 earnings released: AU$0.089 loss per share (vs AU$0.095 loss in FY 2020) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2021 results: Revenue: AU$47.7m (up 22% from FY 2020). Net loss: AU$9.65m (loss narrowed 2.2% from FY 2020). Price Target Changed • Aug 02
Price target decreased to AU$4.25 Down from AU$4.61, the current price target is an average from 4 analysts. New target price is 74% above last closing price of AU$2.45. Stock is down 44% over the past year. Price Target Changed • Jul 30
Price target decreased to AU$4.47 Down from AU$4.90, the current price target is an average from 3 analysts. New target price is 79% above last closing price of AU$2.50. Stock is down 46% over the past year. Major Estimate Revision • Feb 24
Analysts update estimates The company's losses in 2021 are expected to improve with analysts raising their consensus EPS forecasts from -AU$0.072 to -AU$0.062. Revenue estimate was approximately flat at AU$50.4m. The Software industry in Australia is expected to see an average net income growth of 17% next year. The consensus price target increased from AU$4.67 to AU$4.85. Share price is down by 3.8% to AU$4.05 over the past week. Reported Earnings • Feb 20
First half 2021 earnings released: AU$0.033 loss per share (vs AU$0.059 loss in 1H 2020) The company reported a solid first half result with reduced losses, improved revenues and improved control over expenses. First half 2021 results: Revenue: AU$23.1m (up 27% from 1H 2020). Net loss: AU$3.46m (loss narrowed 43% from 1H 2020). Announcement • Feb 18
Whispir Limited Revised Financial Guidance for Fiscal 2021 Whispir Limited revised financial guidance for fiscal 2021. The company now expects, revenue to be in the range of $49.0- $51.0 million against previous guidance of $47.5- $51.0 million. Announcement • Feb 05
Whispir Limited to Report First Half, 2021 Results on Feb 18, 2021 Whispir Limited announced that they will report first half, 2021 results on Feb 18, 2021 Is New 90 Day High Low • Jan 21
New 90-day high: AU$4.36 The company is up 11% from its price of AU$3.92 on 23 October 2020. The Australian market is also up 11% 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 up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$3.59 per share. Is New 90 Day High Low • Nov 19
New 90-day low: AU$3.11 The company is down 30% from its price of AU$4.47 on 21 August 2020. The Australian market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$2.89 per share. Announcement • Nov 16
Whispir Limited Appoints Aled Miles as Non-Executive Director, Effective 1 December 2020 Whispir Limited has significantly strengthened its board with the appointment of international industry specialist Aled Miles as a US-based Non-Executive Director, effective from 1 December 2020. Mr. Miles is a highly credentialed North American executive with more than 30 years' experience in the US and UK technology sectors. His experience includes two decades in various roles at Symantec. His deep industry expertise spans multiple senior leadership roles, including CEO of TeleSign. He is currently the President and Chief Executive of Sauce Labs. He is also a Non-Executive Director for Sapien, Executive Chairman of IoTium. Announcement • Nov 06
Whispir Limited Announces Resignation of Shane Chesson as Non-Executive Director Whispir Limited announced that Mr. Shane Chesson has resigned as Non-Executive Director of the Company, effective from close of business November 6, 2020. Shane Chesson is a founding partner of Singapore-based venture capital fund manager Openspace Ventures. He was appointed to the board of Whispir in May 2016, following the investment by Openspace Ventures in Whispir. Since then, he has worked with the Company on its strategy and growth, particularly in Asia. Shane is stepping down from the Board of Whispir to focus on other responsibilities and board obligations within Openspace.