Announcement • Jul 31
IQGeo Group to Cancel its Shares from Admission to Trading on AIM On 14 May 2024, the boards of Geologist Bidco Limited ("Bidco") and IQGeo Group plc ("IQGeo") announced that they had reached agreement on the terms of a recommended cash offer to be made by Bidco to acquire the entire issued, and to be issued, ordinary share capital of IQGeo (the "Acquisition"). The Acquisition is being effected by means of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act (the "Scheme"). IQGeo published a circular in relation to the Scheme dated 6 June 2024 (the "Scheme Document"). Defined terms used but not defined in this announcement have the meanings set out in the Scheme Document. All references to times in this announcement are to London time. On 28 June 2024, IQGeo announced that the Scheme was approved by the Scheme Shareholders at the Court Meeting held on that date and the IQGeo Resolution relating to the implementation of the Scheme was approved by the IQGeo Shareholders at the General Meeting also held on that date. Cancellation of admission of IQGeo Shares to trading on AIM is expected by 7.00 a.m. on 24 September 2024. Reported Earnings • Apr 19
Full year 2023 earnings released: EPS: UK£0 (vs UK£0.016 loss in FY 2022) Full year 2023 results: EPS: UK£0 (improved from UK£0.016 loss in FY 2022). Revenue: UK£44.5m (up 67% from FY 2022). Net income: UK£4.0k (up UK£917.0k from FY 2022). Profit margin: 0% (up from net loss in FY 2022). Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 10.0% growth forecast for the Software industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has only increased by 50% per year, which means it is significantly lagging earnings growth. Announcement • Apr 17
IQGeo Group plc, Annual General Meeting, May 15, 2024 IQGeo Group plc, Annual General Meeting, May 15, 2024, at 10:00 Coordinated Universal Time. Location: offices of DAC Beachcroft LLP, The Walbrook Building, 25 Walbrook London United Kingdom New Risk • Mar 22
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 95% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Significant insider selling over the past 3 months (UK£3.2m sold). Reported Earnings • Mar 20
Full year 2023 earnings released Full year 2023 results: Revenue: UK£44.5m (up 67% from FY 2022). Net income: UK£4.0k (up UK£917.0k from FY 2022). Profit margin: 0% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Software industry in the United Kingdom. Announcement • Mar 16
IQGeo Group plc to Report Fiscal Year 2023 Results on Mar 20, 2024 IQGeo Group plc announced that they will report fiscal year 2023 results on Mar 20, 2024 Recent Insider Transactions • Jan 22
Non-Executive Director recently sold UK£3.2m worth of stock On the 19th of January, Robert Sansom sold around 1m shares on-market at roughly UK£3.03 per share. This transaction amounted to 24% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of UK£3.3m more than they bought in the last 12 months. Announcement • Jan 15
IQGeo Group plc Provides Earnings Guidance for the Year Ending 31 December 2023 IQGeo Group plc provided earnings guidance for the year ending 31 December 2023 . for the year, company expects Revenue to exceed £44.2 million (2022: £26.6 Million) representing 66% growth and 56% organic growth. Breakeven Date Change • Dec 31
Forecast breakeven date pushed back to 2024 The 2 analysts covering IQGeo Group previously expected the company to break even in 2023. New consensus forecast suggests the company will make a profit of UK£4.35m in 2024. Average annual earnings growth of 96% is required to achieve expected profit on schedule. New Risk • Nov 29
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 British stocks, typically moving 7.6% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Sep 27
First half 2023 earnings released: UK£0.005 loss per share (vs UK£0.005 loss in 1H 2022) First half 2023 results: UK£0.005 loss per share (in line with 1H 2022). Revenue: UK£20.5m (up 124% from 1H 2022). Net loss: UK£332.0k (loss widened 18% from 1H 2022). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Software industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has only increased by 53% per year, which means it is significantly lagging earnings growth. Announcement • Sep 05
IQGeo Group plc to Report First Half, 2023 Results on Sep 25, 2023 IQGeo Group plc announced that they will report first half, 2023 results on Sep 25, 2023 Recent Insider Transactions • Aug 07
CFO, Company Secretary & Director recently sold UK£102k worth of stock On the 3rd of August, Haywood Chapman sold around 35k shares on-market at roughly UK£2.90 per share. This transaction amounted to 21% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Haywood's only on-market trade for the last 12 months. Announcement • Jul 17
IQGeo Group plc Provides Enrings Guidance for the Half Year Ended 30 June 2023 IQGeo Group plc provided enrings guidance for the half year ended 30 June 2023. For the period, the company expects revenue to exceed £20.0 million (first half 2022: £9.2 million) representing half-on-half growth over 117% through organic and acquisitive growth. Reported Earnings • Mar 28
Full year 2022 earnings: Revenues exceed analyst expectations Full year 2022 results: Revenue: UK£26.6m (up 92% from FY 2021). Net loss: UK£913.0k (loss narrowed 53% from FY 2021). Revenue exceeded analyst estimates by 1.9%. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 9.2% growth forecast for the Software industry in the United Kingdom. Price Target Changed • Jan 12
Price target increased to UK£2.25 Up from UK£1.58, the current price target is provided by 1 analyst. New target price is 8.7% above last closing price of UK£2.07. Stock is up 58% over the past year. The company is forecast to post a net loss per share of UK£0.018 next year compared to a net loss per share of UK£0.034 last year. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Non-Executive Director Carolyn Rand was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Buying Opportunity • Oct 03
Now 20% undervalued Over the last 90 days, the stock is up 7.2%. The fair value is estimated to be UK£1.87, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 27% over the last 3 years. Earnings per share has grown by 34%. Reported Earnings • Sep 21
First half 2022 earnings released: UK£0.005 loss per share (vs UK£0.018 loss in 1H 2021) First half 2022 results: UK£0.005 loss per share (improved from UK£0.018 loss in 1H 2021). Revenue: UK£9.19m (up 44% from 1H 2021). Net loss: UK£282.0k (loss narrowed 73% from 1H 2021). Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 9.5% growth forecast for the Software industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has increased by 53% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 26
IQGeo Group plc to Report Q2, 2022 Results on Sep 19, 2022 IQGeo Group plc announced that they will report Q2, 2022 results on Sep 19, 2022 Major Estimate Revision • Aug 13
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from UK£17.2m to UK£21.0m. EPS estimate unchanged from -UK£0.024 at last update. Software industry in the United Kingdom expected to see average net income decline 9.1% next year. Consensus price target up from UK£1.58 to UK£1.65. Share price rose 4.3% to UK£1.33 over the past week. Announcement • Aug 13
IQGeo Group plc (AIM:IQG) acquired Comsof NV for €13 million. IQGeo Group plc (AIM:IQG) acquired Comsof NV for €13 million on August 11, 2022. As per the terms, the initial consideration of €10 million was satisfied through the issue of 777,657 consideration shares with the balance of €8.85 million paid in cash by IQGeo. The Earn-Out Consideration of up to €3.0 million is split into two equal tranches of €1.5 million each and is subject to COMSOF securing separate software licence agreements with two parties. Should the revenue generated per annum under this licence agreement be less than the First and Second Expected Value. The enterprise value of the business is c.€10.0 million as the business had c €3.0 million of cash on the balance sheet as at closing. The Consideration Shares are to be issued by no later than August 18, 2022 at a price equal to 125 pence per share. The Consideration Shares will be issued to COMSOF's current CEO who will be retained as General Manager for Europe and will receive 50 per cent. of the Earn-Out Consideration and will lead the integration efforts between the two companies. COMSOF will join IQGeo Group. For the 12 months ending 30 April 2022, COMSOF achieved total revenue of €7.0 million including recurring revenue of approximately 25 per cent. of total revenue for the period and adjusted EBITDA of approximately €1.3 million. Henrik Persson and Seamus Fricker of finnCap Ltd acted as nomad advisor and Chris Godsmark and Marc Jones of acted as financials advisor to IQGeo Group.
IQGeo Group plc (AIM:IQG) completed the acquisition of Comsof NV on August 11, 2022. Price Target Changed • Jul 25
Price target increased to UK£1.58 Up from UK£1.40, the current price target is provided by 1 analyst. New target price is 28% above last closing price of UK£1.24. The company is forecast to post a net loss per share of UK£0.014 next year compared to a net loss per share of UK£0.034 last year. Board Change • Jul 25
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Non-Executive Director Carolyn Rand was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 14
IQGeo Group plc, Annual General Meeting, May 17, 2022 IQGeo Group plc, Annual General Meeting, May 17, 2022, at 12:00 Coordinated Universal Time. Location: Nine Hills Road, Cambridge, United Kingdom, CB2 1GE Cambridge United Kingdom Announcement • Mar 04
IQGeo Group plc to Report Fiscal Year 2021 Results on Mar 22, 2022 IQGeo Group plc announced that they will report fiscal year 2021 results on Mar 22, 2022 Breakeven Date Change • Jan 15
Forecast to breakeven in 2023 The analyst covering IQGeo Group expects the company to break even for the first time. New forecast suggests losses will reduce by 56% per year to 2022. The company is expected to make a profit of UK£2.50m in 2023. Average annual earnings growth of 96% is required to achieve expected profit on schedule. Announcement • Jan 12
IQGeo Group plc Provides Revenue Guidance for the Year Ended December 31, 2021 IQGeo Group plc provided revenue guidance for the year ended December 31, 2021. For the year, the company announced that the revenue for the year is expected to show an increase of approximately 48% to not less than £13.7 million (2019: £9.2 million) with growth across both the IQGeo core business and the OSPInsight business acquired in December 2020. The Group has expanded its base of customers from 262 to 324 with recurring revenue net retention at approximately 113% (2020: 140%). The Group has a strategic focus on becoming a high recurring revenue business and expects to report that approximately 43% of the Group's total revenues are now recurring (up from 35% for the year to 31 December 2020), with the Exit ARR of these contracts as at 31 December 2021 increasing by 55% to approximately £8.2 million (2020: £5.3 million). Reported Earnings • Sep 15
First half 2021 earnings released: UK£0.018 loss per share (vs UK£0.035 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: UK£6.38m (up 35% from 1H 2020). Net loss: UK£1.04m (loss narrowed 40% from 1H 2020). Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Reported Earnings • Apr 17
Full year 2020 earnings released: UK£0.082 loss per share (vs UK£0.094 loss in FY 2019) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2020 results: Revenue: UK£9.16m (up 17% from FY 2019). Net loss: UK£4.11m (loss narrowed 33% from FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 116 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 24
Full year 2020 earnings released: UK£0.082 loss per share (vs UK£0.094 loss in FY 2019) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2020 results: Revenue: UK£9.16m (up 17% from FY 2019). Net loss: UK£4.11m (loss narrowed 33% from FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 116 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Feb 03
New 90-day high: UK£1.05 The company is up 52% from its price of UK£0.69 on 04 November 2020. The British market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is flat over the same period. Announcement • Jan 31
Iqgeo Group plc Wins Contract IQGeo Group plc announced a large contract for software and services with a major telecoms network operator that serves more than 3.2m customers in central and western Canada. The new customer contract has an order value to be recognised over the next two financial years of £1.3m for perpetual software licences, associated implementation services, and annual maintenance and support. The new customer will deploy the IQGeo Platform and Workflow Manager software to create a situational awareness and operations support solution designed to accelerate fibre rollout time-to-market and improve customer satisfaction. Using the IQGeo Platform they will integrate a wide range of spatial, operational, and business support systems into a single common geospatial view that will be used by office or mobile field teams, whether online or offline. This provides field crews with a powerful comprehensive view of their network together with maintenance and operational workflows to improve field productivity and reduce the cost and complexity of managing multiple conflicting applications. Is New 90 Day High Low • Dec 31
New 90-day high: UK£0.96 The company is up 34% from its price of UK£0.71 on 02 October 2020. The British market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is down 8.0% over the same period. Announcement • Dec 02
IQGeo Group plc has completed a Follow-on Equity Offering in the amount of £5.3 million. IQGeo Group plc has completed a Follow-on Equity Offering in the amount of £5.3 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 6,794,872
Price\Range: £0.78
Transaction Features: Subsequent Direct Listing Is New 90 Day High Low • Nov 18
New 90-day high: UK£0.73 The company is up 1.0% from its price of UK£0.73 on 20 August 2020. The British market is up 5.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Software industry, which is down 5.0% over the same period. Announcement • Sep 04
IQGeo Group plc to Report First Half, 2020 Results on Sep 14, 2020 IQGeo Group plc announced that they will report first half, 2020 results on Sep 14, 2020