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Sopheon maart 2023

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  1. Bertus S 23 maart 2023 09:05
    Results Statement for the Year Ended 31 December 2022

    Sopheon plc, the InnovationOps software company, is pleased to announce its results for the year ended 31 December 2022, together with an outlook for the current year.

    Financial Highlights:

    Revenue of $36.8m (2021: $34.4m) in line with market expectations - and ahead on a constant currency basis
    ARR1 rose to $24.3m at the start of 2023 from $20.7m a year before, growth of 17.4%
    Full year 2023 revenue visibility2 stands at $28.4m (last year at this time: $25.1m)
    Gross ARR retention at 92% (2021: 95%) – Net ARR retention at 112% (2021: 108%)
    Adjusted EBITDA3 of $6.9m (2021: $6.2m) also ahead of market expectations
    Profit before tax $1.3m (2021: $1.2m) after absorbing $2.2m of M&A related amortization and intangible impairments
    Net cash of $21.1m (2021: $24.2m) reflecting currency movements, M&A and other factors. The group has no debt and has always had cash balances spread across multiple global banks.
    Dividend to be maintained at 3.25p per share (2021: 3.25p)

    Operational Highlights

    16 new customer wins (2021: 10) for Accolade, all but one signed as SaaS, underlining our strategic shift to SaaS for all new customers. We also converted 13 existing clients (2021: 6) to SaaS. Concluded the largest order in the company’s history with the US Navy, an existing customer, boosting total contract value signed in the year to over $30m (2021: $22m).
    Integrated two acquisitions – ROI Blueprints, acquired at the end of December 2021, and Solverboard, acquired in May 2022.
    Launched three software-as-a-service (SaaS) products under the Acclaim™ banner: Acclaim Ideas (formerly Solverboard), Acclaim Projects (formerly ROI Blueprints), and Acclaim Products (internally created). The launch of these new solutions expands Sopheon’s addressable market by an estimated $2bn and boosts the Company’s position as the leading software vendor focused on operationalizing the business of innovation.
    Our balance sheet remains very strong to fuel additional acquisition and investment. Our recent appointment of Barney Kent, former chief operating officer of Ideagen plc as a non-executive Director, underlines our commitment to both organic growth and M&A activities.

    Outlook

    Andy Michuda, Chairman, commented: “Sopheon delivered solid growth with record ARR last year, and acquisitions and new products tripled our multi-billion-dollar addressable market. Our ambition is for Sopheon to double run-rate revenue every three to four years, with world class margin and retention metrics. This will require a contribution from acquisitions, on top of accelerated organic growth. We start 2023 with a strong foundation of ARR, a stable of new products, and a growing sales pipeline. I look ahead with both excitement and confidence, anticipating continued delivery this year alongside rising velocity in our business.”



    For further information contact:

    Andy Michuda (Chairman)
    Arif Karimjee (CFO) Sopheon plc + 44 (0) 1276 919 560

    www.sopheon.com/investors/rns-release...

    Bertus S.
  2. Tritace 23 maart 2023 09:47
    Bedankt Bertus voor het plaatsen.
    Voor zover ik snel kan overzien niet heel veel nieuws onder de zon.
    Wel viel me de uitspraak op van Michuda:
    "Our ambition is for Sopheon to double run-rate revenue every three to four years, with world class margin and retention metrics. This will require a contribution from acquisitions, on top of accelerated organic growth."
    Wisten we natuurlijk ook al een beetje door de uitspraak van Bauer, hoewel die wel erg hoog was ingezet (100 milj in 2025)
  3. Tritace 23 maart 2023 10:09
    Finncap maakt dit keer meer werk van zijn beoordeling en schrijft o.m.
    "The finnCap Tech demo here provides more evidence of the absurdity that the group is currently trading at 1.4x FY23 EV/Sales, falling to 1.1x FY23, equivalent to 8.9x EV/EBITDA falling to 6.1 – compared with the fC T4 Enterprise Software sub index at 3.2x EV/Sales
    (the equivalent to our target price of 1,250p) and 15x EV/EBITDA – and with $21m cash to deploy"

    rapport is publiek te vinden via www.sopheon.com/investors/analysts-re... en dan Finncap aanklikken, mailadres opgeven etc
    Idem overigens voor Progressive

    Finncap spreekt in zijn rapport nog over "US R&D related tax changes" die volgend jaar gaan gelden. Mogelijk kan een ander forumlid hier zijn licht over laten schijnen?
  4. VeniVidiMerui 23 maart 2023 22:03
    quote:

    Tritace schreef op 23 maart 2023 09:47:

    ...
    Wel viel me de uitspraak op van Michuda:
    "Our ambition is for Sopheon to double run-rate revenue every three to four years, with world class margin and retention metrics. This will require a contribution from acquisitions, on top of accelerated organic growth."
    Wisten we natuurlijk ook al een beetje door de uitspraak van Bauer, hoewel die wel erg hoog was ingezet (100 milj in 2025)
    Zozo. Elke 3-4 jaar omzet verdubbelen. Dit ligt niet ver af van Bauer's uitspraak.
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