Buy Or Sell Opportunity • Jun 02
Now 29% undervalued Over the last 90 days, the stock has risen 22% to UK£0.24. The fair value is estimated to be UK£0.35, 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 has become profitable. Revenue is forecast to grow by 12% in 2 years. Earnings are forecast to grow by 22% in the next 2 years. Announcement • May 30
Pebble Beach Systems Group plc, Annual General Meeting, Jun 24, 2026 Pebble Beach Systems Group plc, Annual General Meeting, Jun 24, 2026. Location: gorse hill hotel, hook heath road, surrey gu22 0qf, woking United Kingdom Reported Earnings • Apr 30
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: UK£0.022 (up from UK£0.011 loss in FY 2024). Revenue: UK£12.2m (up 6.8% from FY 2024). Net income: UK£2.71m (up UK£4.01m from FY 2024). Profit margin: 22% (up from net loss in FY 2024). The move to profitability was primarily driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 25%. Revenue is forecast to grow 5.8% p.a. on average during the next 2 years, compared to a 8.7% growth forecast for the Software industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 35% per year, which means it is well ahead of earnings. New Risk • Apr 29
New major risk - Revenue and earnings growth Earnings have declined by 37% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Negative equity (-UK£130k). Earnings have declined by 37% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.7% average weekly change). Market cap is less than US$100m (UK£25.9m market cap, or US$34.9m). Announcement • Apr 28
Pebble Beach Systems Group plc to Report Fiscal Year 2025 Results on Apr 28, 2026 Pebble Beach Systems Group plc announced that they will report fiscal year 2025 results at 8:00 AM, GMT Standard Time on Apr 28, 2026 New Risk • Mar 08
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. 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: Major Risk Negative equity (-UK£130k). Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Share price has been volatile over the past 3 months (9.4% average weekly change). Market cap is less than US$100m (UK£25.3m market cap, or US$33.9m). Announcement • Mar 05
Pebble Beach Systems Group plc Announces Board and Committee Changes Effective March 31, 2026 Pebble Beach Systems Group plc announced the following Board change. On March 31, 2026, Non-executive Director Chris Errington, a partner at Kestrel Partners LLP ("Kestrel") and Kestrel's representative on the Company's Board of Directors, is retiring as a partner of Kestrel and will therefore step down as a Non-executive director of Pebble on that date. Oliver Scott will take Chris's place as Kestrel's representative. At the same time, Oliver will also succeed Chris as Chairman of Pebble's Remuneration Committee. Oliver Scott is a Managing Partner of Kestrel, the London-based investment manager, which specialises in long-term and active investment in quoted and unquoted technology companies. He is currently on the Board of Redcentric plc and K3 Business Technology Group PLC. Previous Board positions include Gresham Technologies plc, Idox plc, IQGeo Group plc and KBC Advanced Technology plc. Oliver's appointment is subject to the completion of normal regulatory due diligence by the Company's nominated adviser and a further announcement will be made with the necessary disclosures in due course. Effective date: March 31, 2026. New Risk • Feb 16
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 9.2% 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 Risk Negative equity (-UK£130k). Minor Risks Share price has been volatile over the past 3 months (9.2% average weekly change). Market cap is less than US$100m (UK£25.2m market cap, or US$34.4m). New Risk • Jan 28
New major risk - Revenue and earnings growth Earnings have declined by 31% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Negative equity (-UK£130k). Earnings have declined by 31% per year over the past 5 years. Minor Risks Market cap is less than US$100m (UK£23.3m market cap, or US$32.1m). Announcement • Dec 01
Pebble Beach Systems Group plc Announces Board Changes, Effective December 1, 2025 Pebble Beach Systems Group plc announced that John Varney is stepping down from his role as Chairman and will step off the Board. John Varney has retired from the Board after fourteen years, almost nine of which were as Chairman. Tom Crawford has been appointed as Non-Executive Chairman of the Company, effective December 1, 2025. Tom Crawford, aged 57 years, has over 25 years' experience with publicly quoted companies, especially software companies. He has a strong track record of developing, building and growing international product-based software and services businesses, both organically and through acquisition, to unlock opportunity. Tom was Chief Executive Officer of Aptitude Software Group Plc (Main Market listed), the global financial management software company, and led its successful expansion into North America and Asia Pacific as well as into new market verticals. He was also previously Chairman of Attraqt Group (AIM listed), the SaaS ecommerce solutions provider and Chairman of K3 Business Technology Group (AIM listed), which provided business-critical software solutions. He is currently Chairman of Made With Intent, the AI real-time ecommerce agent start-up. Current directorships: Made With Intent Limited, Vastude Limited, Q Learning Nepal Trust CIO. Past directorships (within five years): K3 Business Technology Group plc, K3 Business Technologies Ireland Limited, Attraqt Group Limited. Reported Earnings • Aug 21
First half 2025 earnings released: EPS: UK£0.004 (vs UK£0.002 in 1H 2024) First half 2025 results: EPS: UK£0.004 (up from UK£0.002 in 1H 2024). Revenue: UK£5.91m (up 12% from 1H 2024). Net income: UK£461.0k (up 59% from 1H 2024). Profit margin: 7.8% (up from 5.5% in 1H 2024). The increase in margin was driven by higher revenue. Revenue is expected to decline by 2.9% p.a. on average during the next 2 years, while revenues in the Software industry in the United Kingdom are expected to grow by 8.7%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 85 percentage points per year, which is a significant difference in performance. New Risk • Aug 20
New major risk - Revenue and earnings growth Earnings have declined by 18% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (14% average weekly change). Negative equity (-UK£494k). Earnings have declined by 18% per year over the past 5 years. Minor Risks Market cap is less than US$100m (UK£17.7m market cap, or US$23.9m). Price Target Changed • Aug 20
Price target increased by 25% to UK£0.25 Up from UK£0.20, the current price target is provided by 1 analyst. New target price is 75% above last closing price of UK£0.14. Stock is up 16% over the past year. The company is forecast to post earnings per share of UK£0.014 next year compared to a net loss per share of UK£0.011 last year. Announcement • Jul 25
Pebble Beach Systems Group plc Provides Group Earnings Guidance for the Half-Year Ended 30 June 2025, Year Ending 31 December 2025 and Year Ending 31 December 2026 Pebble Beach Systems Group plc provided group earnings guidance for the half-year ended 30 June 2025, year ending 31 December 2025 and year ending 31 December 2026. For the half-year, the group expects to report increased revenues of c.£5.9 million (first half of 2024: £5.3 million) driven by the timing of project order intake and the continued growth in SLA revenue. Revenues comprised project revenues of c.£2.6 million (first half of 2024: £2.2 million) and recurring support revenue of c.£3.3 million (first half of 2024: £3.1 million), both up year on year.
For the year ending 31 December 2025, the group expects profitability to be materially ahead of market guidance. Revenue to be £11.5 million.
For the year ending 31 December 2026, the group expects profitability to be materially ahead of market guidance. Revenue to be £11.5 million. New Risk • Jul 24
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of British stocks, typically moving 13% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (13% average weekly change). Negative equity (-UK£494k). Minor Risks Market cap is less than US$100m (UK£16.2m market cap, or US$21.9m). Announcement • Jun 09
Pebble Beach Systems Group plc, Annual General Meeting, Jun 25, 2025 Pebble Beach Systems Group plc, Annual General Meeting, Jun 25, 2025. Location: gorse hill hotel, hook heath road, surrey, gu22 0qf, woking United Kingdom Reported Earnings • Jun 02
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: UK£0.011 loss per share (down from UK£0.012 profit in FY 2023). Revenue: UK£11.5m (down 7.4% from FY 2023). Net loss: UK£1.31m (down 185% from profit in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to stay flat during the next 2 years compared to a 7.7% growth forecast for the Software industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. New Risk • Apr 23
New major risk - Negative shareholders equity The company has negative equity. Total equity: -UK£494k This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risk Negative equity (-UK£494k). Minor Risks Market cap is less than US$100m (UK£8.40m market cap, or US$11.1m). Reported Earnings • Apr 23
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: UK£0.011 loss per share (down from UK£0.012 profit in FY 2023). Revenue: UK£11.5m (down 7.4% from FY 2023). Net loss: UK£1.31m (down 185% from profit in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to stay flat during the next 2 years compared to a 8.0% growth forecast for the Software industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Announcement • Apr 23
Pebble Beach Systems Group plc to Report Fiscal Year 2024 Results on Apr 23, 2025 Pebble Beach Systems Group plc announced that they will report fiscal year 2024 results on Apr 23, 2025 New Risk • Apr 07
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: UK£7.78m (US$9.98m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (23% accrual ratio). Market cap is less than US$10m (UK£7.78m market cap, or US$9.98m). Minor Risks High level of debt (420% net debt to equity). Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). New Risk • Mar 09
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. 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: Major Risk High level of non-cash earnings (23% accrual ratio). Minor Risks High level of debt (420% net debt to equity). Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Share price has been volatile over the past 3 months (7.5% average weekly change). Market cap is less than US$100m (UK£8.34m market cap, or US$10.8m). New Risk • Mar 05
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 7.0% 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 Risk High level of non-cash earnings (23% accrual ratio). Minor Risks High level of debt (420% net debt to equity). Share price has been volatile over the past 3 months (7.0% average weekly change). Market cap is less than US$100m (UK£9.02m market cap, or US$11.6m). New Risk • Aug 22
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 23% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (23% accrual ratio). Minor Risks High level of debt (420% net debt to equity). Market cap is less than US$100m (UK£15.2m market cap, or US$20.0m). Announcement • Aug 21
Pebble Beach Systems Group plc to Report First Half, 2024 Results on Aug 21, 2024 Pebble Beach Systems Group plc announced that they will report first half, 2024 results on Aug 21, 2024 New Risk • Aug 16
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 7.0% 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: Minor Risks High level of debt (557% net debt to equity). Share price has been volatile over the past 3 months (7.0% average weekly change). Market cap is less than US$100m (UK£14.7m market cap, or US$18.9m). Announcement • Jun 14
Pebble Appoints Sally Wallington as Senior Vice President of Sales Pebble has announced the appointment of Sally Wallington as Senior Vice President of Sales. In this role, Wallington will take on overall responsibility for Pebble's sales operations worldwide. Wallington joins Pebble from the language and localisation services company VSI, where she served as Sales Director. Her extensive experience includes director-level positions at major media technology firms such as Grass Valley and Imagine Communications. She holds a degree in linguistics from University College London. As SVP of Sales, Wallington will lead Pebble's global sales team, collaborating with regional teams to boost market share across all product lines. Her strategic vision and leadership are expected to play a crucial role in aligning Pebble's sales strategies with its core principles of innovation and customer satisfaction. Board Change • Jun 02
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. 3 experienced directors. 1 highly experienced director. Non-Executive Director Chris Errington was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • May 09
Pebble Beach Systems Group plc, Annual General Meeting, Jun 26, 2024 Pebble Beach Systems Group plc, Annual General Meeting, Jun 26, 2024. Reported Earnings • Mar 26
Full year 2023 earnings: Revenues and EPS in line with analyst expectations Full year 2023 results: EPS: UK£0.012 (up from UK£0.009 in FY 2022). Revenue: UK£12.4m (up 11% from FY 2022). Net income: UK£1.53m (up 30% from FY 2022). Profit margin: 12% (up from 11% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.5% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Software industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Announcement • Mar 26
Pebble Beach Systems Group plc to Report Fiscal Year 2023 Results on Mar 26, 2024 Pebble Beach Systems Group plc announced that they will report fiscal year 2023 results on Mar 26, 2024 New Risk • Mar 10
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. 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: Major Risk Negative equity (-UK£474k). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Share price has been volatile over the past 3 months (7.7% average weekly change). Market cap is less than US$100m (UK£12.4m market cap, or US$16.0m). New Risk • Feb 06
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 7.7% 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 Risk Negative equity (-UK£474k). Minor Risks Share price has been volatile over the past 3 months (7.7% average weekly change). Market cap is less than US$100m (UK£12.9m market cap, or US$16.3m). Announcement • Jan 31
Pebble Beach Systems Group plc Provides Earnings Guidance for the Year Ended December 31, 2023 Pebble Beach Systems Group plc provided earnings guidance for the year ended December 31, 2023. For the year, the company expects revenue of approximately £12.4 million (FY22: £11.2 million). Announcement • Aug 23
Pebble Beach Systems Group plc Provides Earnings Guidance for the Second Half 2023 Pebble Beach Systems Group plc provided earnings guidance for the second half 2023. The Board continues to have confidence that the Group can deliver a strong second half with improved revenue and achieve the Board's expectations for the year 2023. Reported Earnings • Aug 23
First half 2023 earnings released: EPS: UK£0.002 (vs UK£0.002 in 1H 2022) First half 2023 results: EPS: UK£0.002 (in line with 1H 2022). Revenue: UK£5.47m (up 8.5% from 1H 2022). Net income: UK£242.0k (down 7.3% from 1H 2022). Profit margin: 4.4% (down from 5.2% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.2% p.a. on average during the next 2 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 fallen by 10% per year whereas the company’s share price has fallen by 14% per year. Announcement • Jul 21
Pebble Beach Systems Group plc Provides Earnings Guidance for the Half-Year Ended 30 June 2023 and Second Half of 2023 Pebble Beach Systems Group plc provided earnings guidance for the half-year ended 30 June 2023 and second half of 2023. For the first half-year, the group expects to report revenues of £5.5 million (first half 2022: £5 million), a growth in revenue of 9%. The board expects a stronger second half to the year with further progress being made in revenue growth in the period. Reported Earnings • Apr 27
Full year 2022 earnings released: EPS: UK£0.009 (vs UK£0.012 in FY 2021) Full year 2022 results: EPS: UK£0.009 (down from UK£0.012 in FY 2021). Revenue: UK£11.2m (up 5.2% from FY 2021). Net income: UK£1.18m (down 19% from FY 2021). Profit margin: 11% (down from 14% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 12% per year whereas the company’s share price has fallen by 10% per year. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Senior Independent Non-Executive Director Graham Pitman was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 07
First half 2022 earnings released: EPS: UK£0.002 (vs UK£0.008 in 1H 2021) First half 2022 results: EPS: UK£0.002 (down from UK£0.008 in 1H 2021). Revenue: UK£5.04m (up 3.0% from 1H 2021). Net income: UK£261.0k (down 74% from 1H 2021). Profit margin: 5.2% (down from 20% in 1H 2021). Revenue is forecast to grow 7.4% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Software industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Reported Earnings • May 06
Full year 2021 earnings released: EPS: UK£0.012 (vs UK£0.01 in FY 2020) Full year 2021 results: EPS: UK£0.012 (up from UK£0.01 in FY 2020). Revenue: UK£10.6m (up 27% from FY 2020). Net income: UK£1.47m (up 13% from FY 2020). Profit margin: 14% (down from 15% in FY 2020). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 4.5%, compared to a 26% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 27% per year whereas the company’s share price has increased by 31% per year. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Senior Independent Non-Executive Director Graham Pitman was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 10
First half 2021 earnings released: EPS UK£0.008 (vs UK£0.006 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: UK£4.89m (up 9.0% from 1H 2020). Net income: UK£984.0k (up 32% from 1H 2020). Profit margin: 20% (up from 17% in 1H 2020). The increase in margin was driven by higher revenue. 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 52% per year, which means it is significantly lagging earnings growth.