Accesso Technology Share Discussion Threads

[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.

[montyhedge] 26/10/2023 19:43

Just looking at this company, are they doing anything with AI ?

[bouleversee] 06/10/2023 11:08

If I were young and fit, perhaps, rimaul, but that not being the case and with a fixed rate annuity, rampant inflation and huge expenses incurred and looming, the time has come to benefit from all those years of investing either by increased (rather than cancelled) dividends or selling at a profit rather than a loss but my very diversified p/f is showing a lot of red at the moment, in some cases almost total losses which will never recover. All my big gains have disappeared. The market is s0 volatile I wouldn't know what and when to buy anyway and I'm too busy battling with the NHS to try and beat the shorters, algorithms and out of the blue disasters, domestic as well as international. What's the point when even the fund managers and analysts can't get it right?

[rimau1] 06/10/2023 08:24

Very little going up in the current market bouleversee. Cyclical tech also pretty unloved with varying levels of global recession on the horizon hitting consumer spending. One to add on the dips and tuck away IMO.

[bouleversee] 06/10/2023 08:04

So why isn't the share price going up?

[rivaldo] 06/10/2023 06:33

Long Path Partners continue to buy - they now own 15.01%, or 6.298m shares. They last had 5.79m shares per their prior holdings RNS, so they've added roughly 0.5m shares now:

[melloteam] 05/10/2023 15:41

Just to let shareholders and prospective investors know that accesso Technology, Equals Group PLC and Dillistone Group plc will be presenting on the MelloMonday webinar at 5pm on Monday 9th October 2023.

The event will also feature an interview with Craig Richardson and our popular Mello BASH (Buy, Avoid, Sell, Hold) with a panel of analysts and professional investors.

There will be over 500 investors attending and these are very popular shows with company presentations, fund manager and investor interviews, and panel sessions.

Tickets are still available and if you would like one at half price then enter the code MMTADVFN50.

[melloteam] 03/10/2023 15:26

Just to let shareholders and prospective investors know that accesso Technology, Equals Group PLC and Dillistone Group plc will be presenting on the MelloMonday webinar at 5pm on Monday 9th October 2023.

The event will also feature an interview with Craig Richardson and our popular Mello BASH (Buy, Avoid, Sell, Hold) with a panel of analysts and professional investors.

There will be over 500 investors attending and these are very popular shows with company presentations, fund manager and investor interviews, and panel sessions.

Tickets are still available and if you would like one at half price then enter the code MMTADVFN50.