Accesso Technology Share Discussion Threads

[deanowls] 01/3/2024 14:52

Not necessarily. It may go lower.

What is going to turn this around? For me there isn’t enough updates, there should be a dividend, awards need to reflect shareholder returns so we all gain from progress.

[rich1e] 01/3/2024 14:29

The plus side of a low sp, is the increased amount of stock being bought back. Whatever the future holds this will be a positive

[strange1] 01/3/2024 14:14

A buyback program at this scale (representing about 1.6% of issued shares when announced) is just a complete waste of time and cash

[supernumerary] 01/3/2024 13:41

Yes, see:

'-- The purchased ordinary shares of 1 pence each in the capital of the Company ("Ordinary Shares") will be cancelled.'

I don't think you're alone in your confusion.

[bouleversee] 01/3/2024 12:57

Are you sure they are cancelling bought back shares? I must sign up for RNS. I don't understand what is going on here. Why are directors receiving equity awards and having to sell shares to pay tax, when they are not paying dividends? Must confess I haven't had time to follow this recently due to medical and other problems and still haven't.

[supernumerary] 01/3/2024 11:49

A low arrived at despite a steady stream of buybacks...

[strange1] 01/3/2024 11:42

I think we can agree that directors selling after an equity award to cover taxes is standard and also normally shouldn't be viewed negatively. However when the CEO exercised in August 2023, as he is based in the US, he would have settled the tax shortly after the exercise date based on the then stock price of say 7.50. Presumably at the time he was seeing upside and so did not sell to cover, so its therefore interesting that he has now taken the decision to sell at basically the 52 week low......ummm

[rivaldo] 01/3/2024 07:07

A prestigious win with the Pro Football Hall of Fame in Ohio, which has "hundreds of thousands" of visitors every year:



"accesso® to Collaborate with Pro Football Hall of Fame to Elevate Visitor Experience with New, Interactive Mobile App

29/02/2024 2:00pm

accesso Technology Group (AIM: ACSO), the premier technology solutions provider for attractions and venues worldwide, has announced a new collaboration with the Pro Football Hall of Fame ("the Hall"), introducing a new, cutting-edge app designed to enhance the experience and boost engagement for visitors to the Hall's renowned museum in Canton, Ohio.

The newly launched app is now available for download on iOS and Android devices.

Utilizing a suite of guest experience tools from accesso, the multi-faceted app features a full venue audio tour (available in English and Spanish), an interactive museum map, trivia activities and direct access to news and app-exclusive information about the venue. A second phase of the rollout – planned for the fourth quarter of 2024 – will see further enhancements to the Hall's audio tours and the launch of an all-new digital archive. This archive will host digital records of hundreds of thousands of the Hall's valuable assets – such as player jerseys, footballs and helmets, along with documents and photos – broadening public access to the expansive collection, less than 1% of which is exhibited within the museum.

....The relationship with the Pro Football Hall of Fame follows extensive growth for accesso, with last year seeing the company's launch of the cloud-native, scalable, highly flexible accesso Freedom℠ Restaurant & Retail platform and its acquisition of VGS, with the rebranded introduction of the accesso Horizon℠ Ticketing & Visitor Management system. And recently, accesso partnered with California Mountain Resorts Company to revolutionize the skiing experience with the launch of an all-new integrated resort app network."

[deanowls] 26/2/2024 16:40

Maybe a dividend would help and look at helping shareholder returns. Seems to be share loaded out but not much cheer for shareholders

[tones3] 02/2/2024 13:50

Idk. Some investors feel burned by the prior mismanagement. Steve Brown has done a fabulous job turning the ship around. Being on the Aims doesn’t help. They should have moved to a US exchange a few years ago. A equal merger could be good.

[aimingupward2] 02/2/2024 13:20

You would have thought that with the good company outlook the share price would be breaking out from the recent and current low level, but there is no real sign of that yet. Can’t help but wonder why.

[rivaldo] 01/2/2024 09:17

New interview with the CEO about the trading update - if you read the useful summary below the video there's no need to watch....



Extract:

"For 2024, Accesso anticipates a revenue growth of around 9% and a Cash EBITDA margin of at least 17%. These projections underscore the company's focus on improving operational efficiency and revenue quality. Brown's vision for Accesso includes achieving a 20%+ Cash EBITDA margin in the midterm, demonstrating his commitment to driving profitability and shareholder value."

[rivaldo] 30/1/2024 08:30

From the ArmChair Trader's web site, this appears to be commentary from Shore Capital following yesterday's trading update:

"Shore Capital recommends Accesso as a ‘Buy’. Katie Cousins, a research analyst for the broker said: “[Accesso] is currently trading on an EV/cash EBITDA of 8x and EV/Sales of 1.5x for FY24F, a discount to both US SaaS and UK SaaS/IT services peers which trade on an EV/Sales of c.6x and c.3x respectively. We believe there is a fundamentally attractive long-term investment case, with the group operating in a structurally growing market with an increasing number of visitors and demand for digitalisation. [Accesso] is a key partner in helping its customers gain a greater share of visitors’ wallets, as well as improve overall efficiency, and its pleasing to see its exposure in both geography and clients grow.”

[rivaldo] 29/1/2024 12:26

FYI per an article last week on Proactive, Shore Capital reiterated their Buy recommendation.

A couple of interesting points:

(1) Shore believe "“Even at a discount to UK peers, you can still double the current share price“ on a bid coming in for ACSO:

"Currently, the company is trading at a discount to its UK and US SaaS peers, which ShoreCap believes is unwarranted, while in the long term, it is operating in a structurally growing market with an increasing number of visitors and demand for digitalisation.

“The group helps its customers gain a greater share of visitors' wallets as well as improve overall efficiency and ultimately if not valued by the market, we believe these characteristics could also make [Accesso] a bid target.

“Even at a discount to UK peers, you can still double the current share price.“

'Buy' is the recommendation."

(2) Shore "is forecasting underlying cash profits of US$23 million for the 12 months" (today's £148.5m revenues were slightly behind Shore's $151m forecast, but margins must have been rather better than expected since ACSO traded in line with EBITDA expectations).

[aimingupward2] 29/1/2024 11:12

In spite of this morning’s rise the whare price is still very close to it’s low point so there must surely be a lot to go for here.

[rivaldo] 29/1/2024 07:25

Looks like an encouraging and nicely in-line trading statement today, with revenues up 6% despite the move away from lower margin staffing work (presumably Six Flags).

The new acquisitions are trading well with substantial customer wins, and overall revenue growth is expected to increase further to 9% along with raised margins. Nice to see the first contract win in Saudi Arabia too, which will hopefully be the first in what could be a lucrative opportunity.

[supernumerary] 26/1/2024 13:44

The other possibility I thought of was that they're paying the previous owners of one of their acquisitions with shares, and they're hitting the market. If they'd known that was coming it might have made sense to institute the buyback?

But that's all total speculation - I don't follow closely here and don't really understand the mechanics involved, but the amount of money being spent for an apparently negative result is striking.

[supernumerary] 26/1/2024 12:49

The shares are cancelled, but despite this the number of shares in issue continues to increase - see the Total Voting Rights announcements. Not sure where they're coming from - awards programmes presumably?

[bouleversee] 26/1/2024 12:32

Are they cancelling the bought back shares or holding them in treasury? I don't understand why the share price has dropped so much. That's not always the case with buybacks but I've never seen how it is a case of returning capital to shareholders, uinless they are the ones who are selling, especially if they are held in treasury and then dished out to directors and senior staff.

[spud] 26/1/2024 11:57

Just keeping a watching brief here as I was once invested.

So, since the buyback commenced, the share price has sunk 17.5%.

Once again, a buyback, or as the Institutions like to coin it, a return of capital to shareholders, has depreciated your wealth by nearly 20%.

Why? Because every time the Company purchase shares, there's an Institution who will sell that volume of shares and more.

spud

[rivaldo] 22/12/2023 08:42

Two pieces of news which show that the company is pushing ahead with new technology, machine learning etc:



Extracts:

"accesso Technology Group PLC, a leading technology provider for attractions worldwide, has released the latest edition of its industry-leading accesso Passport eCommerce ticketing technology."

"The upgraded accesso Passport eCommerce ticketing solution includes a number of improvements designed to simplify both operations and the user experience."

"Steve Brown, accesso CEO, says: “As our industry gathers at IAAPA Expo Orlando 2023, accesso celebrates a year of extraordinary growth and innovation. The roll-out of our enhanced eCommerce ticketing platform is a testament to our commitment to delivering cutting-edge technology solutions that redefine the guest experience for leisure & entertainment venues.”

This announcement comes during a successful year for accesso, with the acquisition of VGS, the introduction of a number of breakthrough products, including the accesso Freedom Restaurant & Retail solution, sector accolades, and global recognition."

And:



"accesso reveals Qview SM line management solution at IAAPA Expo & wins Brass Ring award"

"accesso Technology Group PLC, a leading technology provider for attractions worldwide, is exhibiting this week at IAAPA Expo 2023 in Orlando, Florida, where the team debuted the new Qview product, a patent-pending line-counting system set to modernise wait time estimation for theme parks and attractions. During the event, Qview was also recognised as a “Best New Product” in the 2023 Brass Ring Awards.

Innovative back-office Qview technology offers extremely precise real-time queue data, doing away with the need for human counts and enabling a precise, knowledgeable view of attraction wait times at any time of day.

Qview ‘counts’ the number of people in the queue by using machine learning technologies and real-time photos of the queue.

etc"

[ali47fish] 21/11/2023 12:30

is this one reporting on 23d nov

[aimingupward2] 16/11/2023 12:41

With the share price once again down at the low point reached a year ago, ACSO must surely be in BUY territory and one of the best in the market.

[rivaldo] 07/11/2023 12:16

Nice interview (and a handy transcript) with a senior VP at ACSO (and a founder of LOQ):

[tones3] 02/11/2023 11:16

Both being clients of Accesso. I experienced both operators this past summer on holiday and Six Flags had the better Queue Buster product by far. CF is operating their fast lane like it’s 1999.