Beeks Financial Cloud Share Discussion Threads

[hatfullofsky] 06/2/2024 07:57

Fantastic news, this could be the start of a fantastic journey. Revenue's are so sticky.

"signing of a conditional contract with one of the largest exchange groups globally"

[masurenguy] 06/2/2024 07:09

Looks like there were some leaks yesterday ! 🙂

Proximity Cloud Contract Win, Exchange Cloud Win and Trading Update

FY25 now expected to be significantly ahead of expectations

06 February 2024 - Beeks Financial Cloud Group plc is pleased to announce the signing of a multi-million-dollar, multi-year expansion contract for its Proximity Cloud offering, a new win with its Exchange Cloud Offering, and provide an update on a period of continued positive trading momentum in the six months to 31 December 2023 (H1 FY24). Having won a number of competitive tenders in H1 FY24, the Company now expects trading in FY25 to be significantly ahead of previous Board expectations for FY25.

$2.3m Proximity Cloud expansion contract

Following the successful deployment of an initial contract with a Tier 1 investment manager, signed in November 2023 for Proximity Cloud, Beeks' fully configured and pre-installed physical trading environment, a new contract has been awarded for additional locations. The latest win more than doubles the initial contract's value to $3.6m in aggregate over a four year period. The Company anticipates considerable further expansion with the customer, with only approximately 30% of the customer's trading infrastructure currently migrating to Proximity Cloud, demonstrating the strong growth potential for the offering.

Exchange Cloud win with one of the largest exchange groups globally

The Company is also delighted to announce the signing of a conditional contract with one of the largest exchange groups globally (the "Exchange") for its Exchange Cloud offering, a multi-home, fully configured and pre-installed physical trading environment fully optimised for global exchanges to offer cloud solutions to their end users. The deal marks the initial phase of an intended multi-year partnership between Beeks and the Exchange, and completion of the contract is subject to regulatory approval, following which deployment of services and recognition of revenue will commence. This is the third major international exchange to sign up to the Exchange Cloud offering, demonstrating the significant potential for the offering. Beeks continues to see a building pipeline of opportunities across its Exchange Cloud offering.

Trading Update: FY24 in line and FY25 significantly ahead of expectations

Trading in H1 FY24 has been in line with Board expectations, with revenue growth of over 25% versus H1 FY23, combined with improved margins. In line with strategy, Beeks has achieved a positive free cash flow position in the period, with unaudited net cash increasing to £5.5m at 31 December 2023 (June 2023 net cash of £4.4m). The Board continues to be confident in achieving results for FY24 in line with its expectations. Having won a number of competitive tenders in recent months for projects commencing in the upcoming reporting period and excluding any contribution from the conditional Exchange Cloud contract, the Company now expects trading in FY25 to be significantly ahead of previous Board expectations. The Company expects to release its Interim Results for the six months ended 31 December 2023 in early March 2024.

Gordon McArthur, CEO of Beeks Financial Cloud commented: "We continue to progress with the execution of our land and expand strategy, quickly demonstrating the value of our offerings, as evidenced by the significant Proximity Cloud expansion contract announced this morning and the winning of a third major global exchange customer for our Exchange Cloud offering. We see considerable expansion potential across our customers, as they migrate increasing proportions of their trading infrastructure to the cloud. The delivery of free cash flow was a key objective for the current year and we are pleased to have achieved that to plan, as we capitalise on the investments we have made into the expansion of our product offering. Our growing contract momentum demonstrates the considerable appetite we see across the financial markets, and we now anticipate FY25 will be significantly ahead of our previous expectations."

[disc0dave46] 05/2/2024 13:49

Traders on volume IMO

[husbod] 05/2/2024 10:38

Seems to be quite a few buys without any obvious reason, apart from the fact that the share price is undervalued.Something happening in the background I wonder.

[masurenguy] 05/2/2024 10:38

A bit of upward movement this morning. Interims should be due by the end of the month.

[hatfullofsky] 05/2/2024 10:38

Some nice volume recently

[masurenguy] 08/1/2024 16:07

The recent price weakness is probably partial due to Octopus who have disposed of 617,674 shares reducing their stake by 24% from 3.93% to 2.99%

[masurenguy] 12/12/2023 14:21

The shareprice has drifted down by 15% since the positive year end results were published a couple of months ago. At that stage the annualised committed monthly recurring revenue was up by 23% to £23.8m (2022: £19.3m) increasing further to £25.0m by the end of August 2023 following a strong start to the new financial year. The pretax profit was up by 13% and the company had net cash of £4.4m. They also stated that the underlying market trends remained positive with the ongoing shift of the financial services sector to cloud computing.

The outlook was also very positive being: "Well positioned moving forward, with an established reputation and a track record of sustained growth. Core focus on converting the record pipeline of opportunities across the Group's product offerings, in particular the Exchange Cloud offering with a number of contracts at an advanced stage. Exchange Cloud remains a potentially transformational opportunity for Beeks, with significant traction with both existing and new customers, including additional proof of concept implementations, albeit contracts of this size take time to convert. The Board is confident in achieving growth acceleration and results for FY24 in line with its expectations. Confidence underpinned by high levels of contracted, recurring revenue, a unique proposition and growing international profile."

Trading updates are not normally issued at the AGM so the next update, excluding any further significant contract wins in the meantime, should be issued around the end of February.

[battyliveson] 30/11/2023 16:21

I believe AGM is 3 weeks tomorrow. Hopefully will get a positive trading update. Remains a long term hold as great potential, even just hitting forecast for next two years.

B

[maddox] 14/11/2023 12:12

Yes that's accurate, but ...

Firstly it's a new Tier One client where they've got their foot in the door.

Secondly, it's also good news in that most of the revenue has previously been generated from the Private Cloud proposition. The Proximity Cloud product is targeted specifically at Tier One institutions - so this is good confirmation.

So the significance of this win is beyond the ££ - I don't know why this isn't spelt out in the RNS!

[hatfullofsky] 14/11/2023 12:00

New contract and the price goes down, strange market

[privileged] 14/11/2023 07:35

Under 450k dollars a year?

[masurenguy] 14/11/2023 07:23

Proximity Cloud Win with Tier 1 Investment Manager

14 November 2023 - Beeks Financial Cloud Group plc (AIM: BKS), a cloud computing and connectivity provider for financial markets, is pleased to announce the signing of a multi-year contract with a Tier 1 investment manager for its Proximity Cloud offering. The contract, worth more than $1.3 million in aggregate over a three year period, with their option to extend for a further two years, is for the deployment of the Beeks high performance, dedicated and client-owned trading environment in both London and New York, with the potential for significant future expansion. This contract, combined with the previously announced $4m of Private Cloud contracts signed in July and the go live of Exchange Cloud at the JSE in September, have provided a strong start to the year and the Company continues to make progress on the conversion of its significant pipeline.

Gordon McArthur, CEO at Beeks, commented: "We continue to attract high profile financial organisations and in turn increase our presence in the sector. Following a strong start to the year, our high levels of contracted, recurring revenue provide confidence moving forwards. We remain focused on converting the growing pipeline of opportunities across each of our product offerings and delivering growth acceleration in FY24 and beyond."

[masurenguy] 29/10/2023 16:28

373 of 375: any one invested here

Try reading the header !

[hatfullofsky] 27/10/2023 21:38

Lack of contracts is holding this back, exchange volumes are super low as are IPO's so most are delaying spend like everyone else but this tech is a must have so I expect them to be very busy in the next few years

[ali47fish] 27/10/2023 09:33

any progress for the share price to rise sustainably- any one invested here

[masurenguy] 09/10/2023 18:37

Nice close, with a 14% increase in the Offer since this mornings open, on a day with AIM down 1%.

[maddox] 09/10/2023 16:35

Hi 9doors99,

Here you go: Episode 40 (part 2)

hxxps://shows.acast.com/paulscottsmallcaps/episodes

[husbod] 09/10/2023 11:46

With all due respect to paulpilot ( good post incidentally) I am hoping that this share price movement is a precursor to an RNS on a new stock exchange customer.

[blackhorse23] 09/10/2023 10:59

Switching to APH

[masurenguy] 09/10/2023 10:41

Note - the current shareprice is still circa 35% below the last fundraising price 18 months ago !

[ninedoors99] 09/10/2023 10:35

Great post ! Where can I get access to your podcast please - thanks in advance 9

[masurenguy] 09/10/2023 10:01

A lot of small retail trades this morning - average 3700 shares. Doesn't suggest a leak of any sensitive information but shareholders should be aware that this could be a sitting duck at the current price.