Today almost every organization is having to respond to the data arms-race, with the desire to significantly improve efficiency, product quality and sales, whilst equally enhancing their customers operations.
Enter Rosslyn, whose proprietary RAPid Big Data analytics software, provides the necessary glue to help clients benefit from many transformational technologies, such as cloud, 5G, IoT and AI. Better still, the company has recently won 4 new contracts (aggregate value £2.2m) with some of the world's largest corporates, and is set to become cashflow positive shortly.
That said, RDT is not totally immune to the economic cycle. Experiencing a temporary dip in H1'20 sales (-11.7% lower to £3.12m), due primarily to macro uncertainties and delayed customer decision making.
However C-suite confidence is returning, and Annual Recurring Revenues have now tipped £6.3m (+24.7% vs £5.05m Oct'18), with the orderbook mushrooming to £6.4m (+25.5% vs £5.1m Apr'19). And that's before factoring in any extra land & expand opportunities that are often secured post go-live.
Looking ahead, our FY20 EBITDA (post SBPs) target of -£110k has been retained, along with the 12p/share valuation, equivalent to c. 3.1x FY20 EV/sales. Net debt is scheduled to exit Apr'20 at £800k vs £975k in Oct'19.
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