Attraqt Share Discussion Threads

[aylingd] 19/5/2017 07:57

Thanks rivaldo for those figures, would be good if that comes to fruition.

D.

[rivaldo] 18/5/2017 12:20

AylingD, N+1 Singer are forecasting a £1.1m PBT this year to Dec'17, rising to £2.6m next year.

[aylingd] 17/5/2017 17:26

Positive news and nice to get an unexpected update from a company that imo is a bit tardy in updating shareholders on progress.

The takeover / merger could be 'transformational' (yes, that dreaded word) however I would like to see an indication of when they believe they will reach profitability. Last I heard (from a broker report, I believe) was some time in 2018, but that was before the merger, so may no longer be valid.

D.

[rivaldo] 17/5/2017 12:05

Update this morning - here's Techmarket's interesting views for the record:



"Momentum building at the transformed ATTRAQT

logoToday the ATTRAQT management has given some insight into its transformational acquisition of SDL’s Fredhopper and of the integration process. In January, this provider of onsite search, online merchandising and eCommerce personalisation technology took the bold move of buying a company three times its size, and its largest competitor (see ATTRAQT goes Large with Fredhopper). This deal will transform the scale and reach of the business, quadrupling revenue, trebling the workforce and more than doubling the customer roll.

When we met them a few weeks ago, the ATTRAQT management explained that the customer bases of the two organisations were complementary. ATTRAQT had done well in the smaller and mid-tier market while Fredhopper had been most successful in larger retail organisations, generally those with their own IT department and infrastructure. The product portfolios of the two companies also appear to be a good fit, covering the same ground and with few issues in combining the web services based capabilities. The integration process has now established a senior management team, unified product branding under the ATTRAQT label and coordinated operations in customer on-boarding and software and product development. A new head of Sales has been appointed in North America, a region where ATTRAQT sees substantial potential.

We were impressed by the ATTRAQT management’s ambition and enthusiasm and how their more entrepreneurial and “lean” approach could galvanise the larger organisation. We would expect a more rapid rate of product introduction as the combined retail expertise and skills in data management and analytics are leveraged and as the underlying platforms are converged. There will be some opportunity for cost savings, but the management will be more intent on re-deploying resources to capitalise on the new-found scale and market-leading position."

[rivaldo] 25/4/2017 23:24

Ssshhhh pinkfish....please don't draw attention to it just yet :o))

[p1nkfish] 25/4/2017 13:33

Fredhopper acquisition offer a way out of the doldrums - if they can exploit it properly.

Not dead.

[the prophet] 13/5/2016 16:11

down again, although still looks over-valued to me.
Not sure of their business model is scale-able or viable
£7.8m market cap, 29p, hmmm, bet the shareholders who flogged out to Azini at 52P are breathing a sigh of relief!
perhaps £5m market cap there could be some value here?.....that would be around 20p-ish.

[the prophet] 28/4/2016 12:44

£930 worth sold and 2p off the sp, that is the trouble with some of these small illiquid micro caps.
Add in news from ATQT is as rare as hens teeth and it's a bit of a lethal combo!
Wonder if Azini knew those forecasts before they invested?
They surely must have done.
Don't really add up, no longer hold but interested to see how it all pans out here.

[the prophet] 26/4/2016 12:33

Heading south again, on those broker forecasts, hardly surprising!

[the prophet] 04/4/2016 15:52

Cheers D, look forwards to your thoughts as and when.

Yes, must be something we are missing here, or that ATQT have told Azini but they ain't telling us.

[aylingd] 04/4/2016 11:36

TP, thanks for the report.

I agree with what you say above. Their high customer retention rate & ramp up of sales staff should make this an exciting business, so something not quite obvious here.

Still holding these but obviously underwater & may yet sell.

I will post my thoughts once I have scrutinised the report.

Regards

D.

[the prophet] 01/4/2016 11:43

Hi D,

have just sent the broker report to you.

Here are the forecast bits for others on the thread

2016: Revenue £3.9m pbt -£1.8m
2017: Revenue £5.2m pbt -£1.0m
2018: Revenue £6.5m pbt -£0.1m

From that it sounds like ATQT will break into profit in 2019. As a reminder the forecasts last Autumn (pre fund raise) were for

2016: Revenue £3.9m pbt £0.5m with eps of 2.2p

It sounds like we are going to have to wait till 2019 to get to that sort of level.

I can well understand the sense in raising cash to push on with expansion and that will result in profitability being deferred, but that profitability should then be greater, otherwise why bother? But this is e commerce we are talking about, you would expect results of a large increase in sales head count to show up as a minimum after one year, how hard can it be to sign folks up?......Forecasts are for a 1% increase in sales this year compared to previous forecast and 4% increase for 2017. Bloomin' marvelous. This business is either not scaleable, or they are experiencing heavy competition or the brokers are indulging in a spot of heavy sandbagging.

This looks like they are having to chuck more sales staff at it just to stand still.
Either that or the brokers are massively understating the case?

I can't believe Azini would come on on the basis of the brokers forecasts, because on that basis, imo, the company is not worth the current £10m let alone the valuation Azini came in at.

All very strange, add in AB's uncommunicative stance (least with me) and its one I'm happy to be out of.

[aylingd] 01/4/2016 09:56

TP I'm re-looking at the financials on this company. I find it difficult to believe that they have pushed out break-even so far after recently stating they were only a few quarters away. Also, I would have thought such a major change would have required the support of Azini, which which is possible I suppose, but I would have thought unlikely.

I'd be grateful if you could send me the broker report mentioned above so I have their view (I'll send you a private message with my email).

Thanks.

D.

[the prophet] 31/3/2016 12:13

hashertu

cheers for your message, have sent brokers note on to you.
tp

[the prophet] 30/3/2016 18:06

hashertu

sorry, only just noticed your post. I have a copy here, I can email it to you if you leave your e-mail address here, or message me, not sure if you can message as 'black' user?.....

[hashertu] 24/3/2016 12:47

TP. Can you please post a link to the broker report mentioned on 10 March?

[the prophet] 22/3/2016 10:16

Attraqt is run by Andre Brown, although DW is the chairman. Worth noting that DW and others in his family sold shares in the recent Azini deal, but Andre brown didn't.

Having said that, I don't like Attraqt anymore for following reasons:

1) They made a big play of not needing further cash, then raised. Not the end of the world, ok.

2) The business here simply is not scaleable. They are having to hire a lot of people just to increase sales by a piddly amount but ramping up the overheads. EBITDA break even has been pushed out several years, it is for something like second half 2018.

3)Last thing is company is completely investor unfriendly, the worst I have come across in 20 years of investing.

it's a bargepole job for me, no matter how low the share price falls.

[the stigologist] 22/3/2016 07:48

The Stigologist 27 Jul'15 - 07:29 - 24 of 195 0 0 edit

wow how incredibly naive and gullible you mug punters are

if Dan was doing so well with POWA why would he bother with ATQT

That article above is clearly a puff piece no doubt placed by his PR

Companies House filings show

Net Worth of MINUS Twenty milllion hxxp://companycheck.co.uk/company/06376989

Various floating charges

[the stigologist] 22/3/2016 07:48

i did warn you not to believe wagner

[the prophet] 10/3/2016 09:42

Just seen the brokers note here, they have pushed out profitability to 2nd half 2018, and they are not making a lot then!
The 'accelerated' sales are something like 1% this year and 3 or 4% next year, which seems pretty pathetic for the increase in sales head-count, which is significant.
Might be of interest two years down the line but I have sold and I can now see reason for share price fall!

[simon gordon] 09/3/2016 10:56

Tech Market View - 9/3/16:

ATTRAQT growth set to continue

Throughout 2015 UKHotViews chronicled ATTRAQT’s mounting momentum, see here and work back, and certainly this provider of eCommerce site search, visual merchandising and product recommendation technology enjoyed a successful year.

Revenue was up to £2.9m, with recurring revenue now comprising 91% of the total. Gross margin has edged upwards to 84% and EBITDA losses were trimmed to £0.2m. The biggest progress however was in the customer list, 31 were added, taking the total to 110 with some big names including Wilko, Bonmarché, Screwfix and TUMI. The company has expanded in the US with its client list there doubling to 17. The platform has proved resilient in the face of this growth and larger and unpredictable trading volumes and there is a good pipeline of new customers and platform enhancements.

The company’s plans are to build market position in Europe and North America but through a relatively cautious expansion of the sales team, at least in the early stages. 2-3 additional heads in the US and expanding the use of telemarketing is intended to add between 40 and 50 new clients in the current year. Revenue per client will remain a key success criterion and having grown by 24% in 2015 to £31,000, we would expect a further significant growth here as customers with a big on-line presence take advantage of ATTRAQT’s expanding portfolio of services.

After a £3.3m fund-raise in November 2015, the company has £3m of cash to fund this year’s growth. 2016 however will be a year of investment, not of improving profitability. The company’s brokers are forecasting a loss of £1.6m at the EBITDA level. ATTRAQT is proving successful in a potentially lucrative niche. Management is taking a measured approach to building this business and success looks set to continue.

[the prophet] 07/3/2016 15:39

sounds like a good person to have on-board



couple of sales today are probably techinvest subscribers as ATQT has fallen past Techinvest stop-loss over the last month

[the prophet] 22/2/2016 13:07

a tick up, most welcome.

Results should be soon, going from last years date, looking forwards to hearing of strong progress.

[cyberbub] 11/2/2016 16:18

Compared to my post 177, I can currently only buy 25k shares max at 51p. What that means is anyone's guess...