BTRS Holdings Inc.

NasdaqGS:BTRS Aktierapport

Börsvärde: US$1.6b

This company has been acquired

The company may no longer be operating, as it has been acquired. Find out why through their latest events.

BTRS Holdings Tidigare resultatutveckling

Tidigare kriterier kontrolleras 0/6

Viktig information

-32.20%

Tillväxttakt i vinsten

94.80%

Tillväxttakt för EPS

Software Tillväxt i branschen17.33%
Intäkternas tillväxttakt15.57%
Avkastning på eget kapital-32.54%
Nettomarginal-53.10%
Senaste uppdateringen av resultatet30 Sep 2022

Senaste uppdateringar av tidigare prestationer

Recent updates

Seeking Alpha • Sep 28

EQT Private Equity to acquire Billtrust for $1.7B

BTRS or Billtrust (NASDAQ:BTRS) to be acquired by EQT X fund, part of EQT, a leading global investment organization, in an all-cash transaction valuing company’s equity at ~$1.7B. Company shareholders will receive $9.50 per share in cash upon the closing of the transaction. The price per share represents more than a 64% premium above the closing share price of $5.77 on September 27, 2022, and more than a 76% premium above the trailing 90-day volume weighted average stock price for the period ended September 27, 2022. Transaction expected to close in Q1 2023.
Seeking Alpha • Sep 15

BTRS Holdings Produces Growth But Operating Losses Are Sticky

Summary BTRS Holdings published its Q2 2022 financial results on August 13, 2022. The firm provides a variety of B2B payment software and services worldwide. BTRS Holdings has produced growing revenue and gross profit, but operating losses remain high as macroeconomic conditions darken. I'm on Hold for BTRS Holdings until management can make a meaningful turn toward operating breakeven. A Quick Take On BTRS Holdings BTRS Holdings Inc. (BTRS) reported its Q2 2022 financial results on August 13, 2022, missing expected revenue and EPS estimates. The company provides a range of B2B payment processing and services to companies worldwide. With a slowing global economy, a strong U.S. dollar producing FX headwinds, no apparent cost-cutting efforts by management and continued high operating losses, my outlook on BTRS is a Hold for the near term. BTRS Holdings Overview Lawrenceville, New Jersey-based BTRS (Billtrust) was founded in 2001 to provide a variety of B2B payment software and related service options to organizations. The firm is headed by founder, Chairman and CEO, Flint Lane, who was previously Chairman and President of Paytrust, and EVP R&D at Logic Works. The company's primary offerings include: Business payments network Credit eCommerce Invoicing Payments Cash application Collections Services The firm acquires customers via direct sales and marketing efforts and through partner referrals. BTRS has employees in 7 countries and serves over 40 industry verticals. BTRS Holdings' Market & Competition According to a 2022 market research report by IMARC Group, the market for B2B payments was an estimated $943 billion in 2021 and is forecast to reach $1.56 trillion by 2027. This represents a forecast CAGR of 8.3% from 2022 to 2027. The main drivers for this expected growth are increasing demand for automated and more efficient payment processing between businesses amid a rise of e-commerce activities worldwide. Also, small and medium-sized enterprises are seeking to take advantage of improved payment options to lower costs and increase flexibility. Major competitive vendors include: PayPal (PYPL) Global Payments (GPN) Square (SQ) Visa (V) ACI Worldwide (ACIW) Jack Henry & Associates (JKHY) Paysafe Group Naspers Limited (NPSNY) Others BTRS Holdings' Recent Financial Performance Total revenue by quarter has risen according to the following chart: 9 Quarter Total Revenue (Seeking Alpha) Gross profit by quarter has also grown accordingly: 9 Quarter Gross Profit (Seeking Alpha) Selling, G&A expenses as a percentage of total revenue by quarter have grown as revenue has increased: 9 Quarter Selling, G&A % Of Revenue (Seeking Alpha) Operating losses by quarter have increased markedly in recent quarters: 9 Quarter Operating Income (Seeking Alpha) Earnings per share (Diluted) have also become increasingly negative of late: 9 Quarter Earnings Per Share (Seeking Alpha) (All data in above charts is GAAP) In the past 12 months, BTRS's stock price has fallen 39.8% vs. the U.S. S&P 500 Index's loss of around 12.3%, as the chart below indicates: 52 Week Stock Price (Seeking Alpha) Valuation And Other Metrics For BTRS Holdings Below is a table of relevant capitalization and valuation figures for the company: Measure ((TTM)) Amount Enterprise Value/Sales 6.95 Revenue Growth Rate 17.4% Net Income Margin -49.8% GAAP EBITDA % -36.1% Market Capitalization $1,120,000,000 Enterprise Value $1,000,000,000 Operating Cash Flow -$24,500,000 Earnings Per Share (Fully Diluted) -$0.44 (Source - Seeking Alpha) The Rule of 40 is a software industry rule of thumb that says that as long as the combined revenue growth rate and EBITDA percentage rate equal or exceed 40%, the firm is on an acceptable growth/EBITDA trajectory. BTRS's most recent GAAP Rule of 40 calculation was negative (18.7%) as of Q2 2022, so the firm has performed poorly in this regard, per the table below: Rule of 40 - GAAP Calculation Recent Rev. Growth % 17.4% GAAP EBITDA % -36.1% Total -18.7% (Source - Seeking Alpha) Commentary On BTRS Holdings In its last earnings call (Source - Seeking Alpha), covering Q2 2022's results, management highlighted a recent partnership deal with Procede Software in the commercial truck dealer management industry, as an example of its integration efforts. A significant growth area for the firm is its Business Payments Network, of which its digital lockbox feature, which automates receipts of various payment types, is what it calls a "must have for any AR department." However, management has noticed a more difficult macroeconomic environment but believes that in such environments, CFOs have even greater incentives to increase efficiency efforts across their enterprise. As to its financial results, net revenue rose 28.5% year-over-year, while adjusted gross margin hit 74.1%, which was 2.41% higher than in Q2 2021.
Analysartikel • Sep 07

Is BTRS Holdings Inc. (NASDAQ:BTRS) Trading At A 34% Discount?

Today we'll do a simple run through of a valuation method used to estimate the attractiveness of BTRS Holdings Inc...
Seeking Alpha • Jul 27

BTRS Holdings jumps 13% on report of exploring potential sale

BTRS Holdings (NASDAQ:BTRS), the parent of business payments vendor Billtrust, soared 13% on a report that the company is exploring options, including a possible slae. The company is working with an adviser as it considers its options, according to a Reuters report.
Seeking Alpha • Oct 15

BTRS Holdings: Accumulating Along With Insiders

Publicly birthed in the middle of the SPAC craze in early 2021, BTRS Holdings has lost some of its value since its peak in February. The accounts receivable solutions provider has developed an ecosystem of buyers, suppliers, banks, payment card issuers, and payment acceptance networks that should have wide appeal. Billtrust has a chance to be the market leader for mid-market/enterprise level customers with its stiffest competition coming from potential customers’ own in-house efforts. With a ~55.6 million share overhang from private equity interests, a clean balance sheet, plenty of blue sky, and insider buying, Billtrust merited further investigation. A full investment analysis is presented in the paragraphs below.
Analysartikel • Aug 25

Is BTRS Holdings Inc. (NASDAQ:BTRS) Trading At A 50% Discount?

Today we will run through one way of estimating the intrinsic value of BTRS Holdings Inc. ( NASDAQ:BTRS ) by taking the...
Analysartikel • May 15

BTRS Holdings Inc. (NASDAQ:BTRS) Just Released Its First-Quarter Earnings: Here's What Analysts Think

It's been a mediocre week for BTRS Holdings Inc. ( NASDAQ:BTRS ) shareholders, with the stock dropping 16% to US$12.34...

Fördelning av intäkter och kostnader

Hur BTRS Holdings tjänar och spenderar pengar. Baserat på senast rapporterade resultat, på rullande tolvmånadersbasis.

Resultat- och intäktshistorik

NasdaqGS:BTRS Intäkter, kostnader och resultat (USD Millions )
DatumIntäkterIntäkterG+A KostnaderFoU-kostnader
30 Sep 22154-8210161
30 Jun 22145-729859
31 Mar 22136-679154
31 Dec 21132-618750
30 Sep 21127-497545
30 Jun 21123-416641
31 Mar 21117-335538
31 Dec 20109-174636
30 Sep 20105-214237
30 Jun 20102-294336
31 Mar 2098-324436
31 Dec 1996-234534
31 Dec 1880-283924
31 Dec 1769-173520

Kvalitetsintäkter: BTRS är för närvarande olönsam.

Växande vinstmarginal: BTRS är för närvarande olönsam.

Fritt kassaflöde vs resultatanalys

Analys av tidigare vinsttillväxt

Resultatutveckling: BTRS är olönsam och förlusterna har ökat under de senaste 5 åren i en takt av 32.2% per år.

Accelererande tillväxt: Det går inte att jämföra BTRS s intäktstillväxt under det senaste året med dess 5-åriga genomsnitt eftersom det för närvarande är olönsamt

Resultat vs industri: BTRS är olönsam, vilket gör det svårt att jämföra det senaste årets vinsttillväxt med Software branschen ( 14.4% ).

Avkastning på eget kapital

Hög ROE: BTRS har en negativ avkastning på eget kapital ( -32.54% ), eftersom det för närvarande är olönsamt.

Avkastning på tillgångar

Avkastning på sysselsatt kapital

Upptäck starka bolag som tidigare presterat bra

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Företagsanalys och finansiella data Status

UppgifterSenast uppdaterad (UTC-tid)
Analys av företag2022/12/17 10:31
Aktiekurs vid dagens slut2022/12/15 00:00
Intäkter2022/09/30
Årlig intjäning2021/12/31

Datakällor

Den data som används i vår företagsanalys kommer från S&P Global Market Intelligence LLC. Följande data används i vår analysmodell för att generera denna rapport. Data är normaliserade vilket kan medföra en fördröjning från det att källan är tillgänglig.

PaketUppgifterTidsramExempel US-källa
Företagets finansiella ställning10 år
  • Resultaträkning
  • Kassaflödesanalys
  • Balansräkning
Analytikernas konsensusuppskattningar+3 år
  • Prognos för finansiella poster
  • Analytikernas prismål
Marknadspriser30 år
  • Aktiekurser
  • Utdelningar, splittar och åtgärder
Ägarskap10 år
  • Största aktieägare
  • Insiderhandel
Förvaltning10 år
  • Ledningsgrupp
  • Styrelse och verkställande direktörer
Viktiga utvecklingstendenser10 år
  • Företagsmeddelanden

* Exempel för amerikanska värdepapper, för icke-amerikanska värdepapper används motsvarande regelverk och källor.

Om inget annat anges är all finansiell data baserad på en årsperiod men uppdateras kvartalsvis. Detta kallas data för efterföljande tolv månader (TTM) eller senaste tolv månader (LTM). Lär dig mer om detta.

Analysmodell och snöflinga

Detaljer om analysmodellen som används för att skapa denna rapport finns på vår Github-sida; vi har också guider om hur du använder våra rapporter och handledningar på Youtube.

Lär dig mer om det team i världsklass som utformade och byggde analysmodellen Simply Wall St.

Industri- och sektormått

Våra bransch- och sektionsmått beräknas var sjätte timme av Simply Wall St, detaljer om vår process finns tillgängliga på Github.

Källor för analytiker

BTRS Holdings Inc. bevakas av 10 analytiker. 6 av dessa analytiker lämnade de uppskattningar av intäkter eller resultat som användes som indata till vår rapport. Analytikernas inskickade estimat uppdateras löpande under dagen.

AnalytikerInstitution
Jason KupferbergBofA Global Research
Joseph VafiCanaccord Genuity
Andrew SchmidtCitigroup Inc