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CALL

Cloudcall Group Plc

79.50
0.00 (0.0%)
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Share Name Share Symbol Market Type Share ISIN Share Description
Cloudcall Group Plc LSE:CALL London Ordinary Share GB00B4XS5145 ORD 20P
  Price Change % Change Share Price Shares Traded Last Trade
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  0.00 0.0% 79.50 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 79.50 GBX

Cloudcall (CALL) Latest News

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Cloudcall (CALL) Discussions and Chat

Cloudcall Forums and Chat

Date Time Title Posts
02/2/202209:34Cloudcall Group Thread872
16/8/201500:17Short Indices and FX plays192
29/10/200719:12EU Governments to Subsidise the Telecoms Industry143
02/7/200508:07Qualcomm and A.Airlines discover how to make mobile calls in flight...hmmm-
18/8/200218:30DOW CALL: Who is Jerry Favors?8

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Posted at 11/12/2021 20:33 by the millipede
Private equity houses are not stupid.

I think they see what most British investors do not - that CloudCall is on the cusp of profitability and, if it were still listed, massive valuation rerate.

The problem is the listed model is not working as buyers wait for new shares. People won’t invest here in the market as they know further funds are needed. Most can probably buy new shares with tax relief under the VCT scheme. Thus the only people trading are sellers.

So the share price trickles downwards, making further fund raising impossible. It is now a vicious cycle that can’t be broken, except by taking the company private.

I think we are being robbed but most won’t agree and - there are too many institutions - we can’t stop the takeover happening whatever we think.
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Posted at 10/12/2021 12:57 by spritlyinvest
its very strange that a couple of months ago we have an announcement of a potential further fund raise which is almost guaranteed to lower the share price - call me paranoid but maybe someone knew about the 80p offer ahead of time?
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Posted at 09/12/2021 09:06 by the millipede
I think in some respects shareholders are very lucky. No one was buying stock and why would they when CALL had announced that further funds would be needed next year.

I think we were heading for a large placing at 35/40p.... assuming they had any lifetime VCT allowance left. Without the tax relief I suspect they would have struggled to find any buyers at all.

I have been here a long time. This gets me out at breakeven. I might be alone in thinking it is a shame to be missing out on the potential long term growth, but it could be worse.
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Posted at 04/10/2021 18:02 by pugugly
Tipped in Daily Mail -
SMALL CAP IDEA Cloudcall Group looks a bargain as CRM market booms
By Ian Lyall At Proactive Investors For Thisismoney.co.uk
: 12:56 BST, 4 October 2021 | Updated: 12:56 BST, 4 October 2021

Canaccord Genuity put it quite bluntly. It reckons at just 1.8-times sales and with increasing visibility over an accelerating growth trajectory, the shares are too cheap. It calculates the stock is worth 115p, or roughly double the current price.
Canaccord is broker to CloudCall, so the cynics will probably respond thus: 'Well they would say that wouldn't they?'
Here's a quote from an uninterested party, SureSwift Capital, an American company that helps sell software-as-a-service companies.
'For smaller, bootstrapped SaaS businesses (that are profitable and growing), valuation multiples tend to range between three and five times [sales],' it says.


however to put it bluntly NO IMPACT ON SHARE PRICE AND ONLY SOME 6,768 SHARES TRADED and market cap only £28M t 58p mid
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Posted at 18/9/2021 14:22 by the millipede
As far as I can recall, this is the first time there has been any change in the going concern statement.

And the share price is up.

Make of that what you will.
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Posted at 16/9/2021 13:05 by the millipede
Del. Good to see you here again, and good question.

I have asked myself that same question several times, especially over the past year.

The share price seemed to show signs of optimism towards the end of 2020 so this year has been very disappointing.

They have clearly been stuffed by covid and exposure to heavily impacted recruitment sector, since outlining what seemed like a fairly decent growth strategy in 2019.

There are still lots of very credible institutional holders, including several US firms, holding this, not to mention directors.

It has always been the case the business model requires a lot of upfront spend to generate recurring revenues.

Ultimately there are two schools of thought, but I would not stay here "to recoup losses" or similar. If I thought or decided CloudCall was a dud I would take my losses and invest somewhere else.

Not sure that answers your question but I am still here and in fact added recently. CloudCall is a small but meaningful % of my overall portfolio.
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Posted at 15/9/2021 13:50 by tole
CEO putting some cash in at these levels todayCloudCall (AIM: CALL, OTCQX: CLLLF ), a leading cloud-based software business that integrates communications technology into Customer Relationship Management (CRM) platforms, announces that Simon Cleaver, Chief Executive Officer, has today purchased 26,000 ordinary shares of 20p each in the Company ("Ordinary Shares") at a purchase price of 56.7 pence per Ordinary Share.
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Posted at 13/12/2018 07:35 by 140661
This note was put out in late September by Cenkos one of Cloudcalls brokers. At the time the shares were 111p, since then they have fallen over one-third!

"Vonage has announced that it is acquiring one of CloudCall’s key competitors, NewVoiceMedia. This acquisition provides strongly favourable read-across valuation data. The CloudCall share price has now reached a level which is disconnected with anything approaching fair value. We are strong Buyers.
. Vonage acquisition. Vonage has announced the acquisition of NewVoiceMedia (NVM) for $350m. The acquisition will assist Vonage in offering an integrated cloud communications platform and strengthen its position in the mid-market. NVM is an unquoted UK company with a significant international presence. NVM’s unified communications platform integrates only into salesforce.com and it is therefore a competitor in this partner only to CloudCall. Its market positioning is subtly different too with its focus being on larger scale call centre operations with prevalently inbound contact environments.
. NewVoiceMedia. Headquartered in Basingstoke, we believe NVM has secured over $140m of funding in a series of financing rounds over the past few years. The most recently available accounts state that it generated an operating loss before taxation of £21.5m on revenues of £32.2m (+37% YoY) for the year to January 2017.
. Comparable growth rates. The enterprise value paid for NewVoiceMedia represents approximately 3.8x projected 2019E revenues (source: Vonage). CloudCall has a comparable growth rate in revenues to NVM (H1A: +30% YoY). Applying a 3.8x EV/Sales multiple to CloudCall’s 2019E sales we arrive at a target price of 205p. This stands 83% above the current share price.
. Unified solution. The strategic rationale of creating an end-to-end communications platform will not be confined to Vonage and this acquisition could well prompt further consolidation in the sector. CloudCall is trading on a 2019E EV/sales ratio of 2.1x only. We remain strong buyers."
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Posted at 26/9/2018 08:01 by 140661
Cenkos believe Cloudcall is significantly undervalued at 111p, at 100p its getting very tempting indeed.

CloudCall Group Plc (CALL LN, 111p, £26.8m, BUY)
Strongly undervalued


Vonage has announced that it is acquiring one of CloudCall’s key competitors, NewVoiceMedia. This acquisition provides strongly favourable read-across valuation data. The CloudCall share price has now reached a level which is disconnected with anything approaching fair value. We are strong Buyers.
n Vonage acquisition. Vonage has announced the acquisition of NewVoiceMedia (NVM) for $350m. The acquisition will assist Vonage in offering an integrated cloud communications platform and strengthen its position in the mid-market. NVM is an unquoted UK company with a significant international presence. NVM’s unified communications platform integrates only into salesforce.com and it is therefore a competitor in this partner only to CloudCall. Its market positioning is subtly different too with its focus being on larger scale call centre operations with prevalently inbound contact environments.
n NewVoiceMedia. Headquartered in Basingstoke, we believe NVM has secured over $140m of funding in a series of financing rounds over the past few years. The most recently available accounts state that it generated an operating loss before taxation of £21.5m on revenues of £32.2m (+37% YoY) for the year to January 2017.
n Comparable growth rates. The enterprise value paid for NewVoiceMedia represents approximately 3.8x projected 2019E revenues (source: Vonage). CloudCall has a comparable growth rate in revenues to NVM (H1A: +30% YoY). Applying a 3.8x EV/Sales multiple to CloudCall’s 2019E sales we arrive at a target price of 205p. This stands 83% above the current share price.
n Unified solution. The strategic rationale of creating an end-to-end communications platform will not be confined to Vonage and this acquisition could well prompt further consolidation in the sector. CloudCall is trading on a 2019E EV/sales ratio of 2.1x only. We remain strong buyers.
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Posted at 18/7/2018 13:55 by 140661
The next section is written by Paul Scott, who owns CALL shares.
Cloudcall (LON:CALL)
· Share price: 134.5p (+2%)

· No. of shares: 24 million

· Market cap: £32 million
Half-year trading update
Somewhat belatedly, here are my comments, in response to reader requests above, on the Cloudcall (LON:CALL) trading update yesterday. I hold a long position in CALL shares.
Firstly, it was clearly a profit warning, but a fairly mild one. The 2 brokers which report on CALL (both make their research available to subscribers of Research Tree) both put out updates, reducing 2018 revenue forecasts from c.£9.5m to c.£9.0m.
One broker reduces its 2018 EBITDA loss from £2.4m to £3.1m, and the other reduces from a £1.9m EBITDA loss, to a £2.9m loss, so quite a significant drop in forecasts at the EBITDA level.

What's gone wrong? The company says it's all down to timing of recruiting & training new sales people, which has taken longer than expected. It says there's not a problem with customer demand, they just didn't have the internal resource to bolt on new customers at the pace required.
The brokers clearly believe that explanation, as they have not reduced revenues forecasts for 2019. The company also talks about expecting a strong H2 in 2018, as the new recruits kick in.
If it all pans out as the company suggests, then the current share price weakness should prove negative. The trouble is that the company has proven somewhat accident-prone in the past (repeatedly missing targets, especially on cash burn), so investors are wise to take the company's outlook comments with a degree of scepticism. That doesn't make it a bad company, but I'm just pointing out that it tends to be overly optimistic, and then disappoints a bit. But that's within an overall picture of strongly growing revenues (which have risen organically from £3.3m just 3 years ago, to forecast c.£9m this year - that's very impressive growth).

Organic growth - is still very impressive, as noted above. The market tends to put a significant premium on the price of any company delivering over, say 20% organic growth at the top line. CALL is still well above that, at +31% Y-on-Y revenues growth in H1 of 2018. That's still a very impressive growth rate, albeit below the previous forecast of c.39%. I don't think the company should be punished too hard for this.
I like to look at not just year-on-year growth, but also sequential half year growth. This has been;

H1 2017 £3.2m

H2 2017 £3.7m (up 15.6% on previous half year)

H1 2018 £4.1m (up 10.8% on previous half year)

So there's been a slowing there, but still good growth.

Note also that the company has sticky, recurring revenues - because its product is excellent (I use it myself). Cashflow is hence highly predictable, with customer receipts coming in regular as clockwork each month. Customer retention levels are high, because people find the product so useful. That's key for building a SaaS business. Gross margins are also very high - again a key point.
Will it need more cash? Almost certainly, yes in my view. Does that matter? Not at all, in my view. There is no reason for shareholders to worry about another fundraising, because the company is well beyond the blue sky stage, when fundraisings are uncertain & can be done at deep discounts if investors are nervous. CloudCall's business model is now proven, and if it needs say another £3m to push it over the line into profitability, then that would only be about 10% dilution, and I reckon Instis would be queuing up to participate.
Evidence for this is that the last placing raised £5.7m in late 2017, and was priced at 143.5p, only a 5.3% discount to the then share price of 151.5p.

The only circumstances in which CALL would struggle to raise more equity, would be if the whole market turns bearish, and/or if CALL's revenue growth grinds to a halt. If that happens, then we'd be looking at a much lower share price, for sure. But that hasn't happened, hence why I think worries about another placing are wide of the mark. It's not a worry to me at all, for the reasons given.

Note that the company has a track record of repeatedly stating that it will not need to raise more cash, and then going on to raise more cash! So the reassurances given in the latest update that it has adequate cash resources, and worthless in my view, given the history. But it doesn't actually matter either way.

Is this a buying opportunity? That's obviously up to each individual to decide for themselves. I see this as a "good" profit warning - i.e. temporary, fixable problems, with the business model & growth story intact, just slightly blunted in H1.
The share price recently peaked at 193p. So being able to buy at 135p today, seems an attractive proposition to me. I can understand emotions kicking in, and some investors' patience wearing thin, but taking a longer term view, this share could be worth substantially more, once you factor in a few more years' strong growth, and the eventual move into profit.

Tech shares like this are not really valued on profits at the moment. The market is instead placing more emphasis on growth, with strong organic growth (combined with lots of operational gearing here, from high gross margin) should attract a premium rating.

There are plenty of private equity buyers around, willing to pay eye-watering valuations for growth tech companies. I would welcome a takeover bid for CloudCall, providing the premium is sufficiently large. It doesn't sit well in the stock market, where people are too focused on short term performance. Whereas, the better option for a growth company is to set aside short term profitability, and instead "go for it" in terms of growth, which might mean incurring heavy losses in the short term.

For stock market investors, CloudCall has been frustrating, in that the runway to profitability seems to be extended each year, by a year! The company is increasing its costs to take advantage of growth potential (and extending the features of its product), but with the time-lag inherent with that type of spending, it results in administrative costs relentlessly increasing, and absorbing the benefits of increased sales/gross margin. Hence why I don't think CALL should be listed on the stock market - it would be better off as a private company, and able to press on with faster, but more cash-consuming growth in the short term.

Overall, I think that for investors who are prepared to be patient, then we should do well out of this one in the long-term. The current market cap is extremely low for a SaaS business that's not far off profitability. Just look at the valuation of LoopUp (LON:LOOP) to see what can be achieved in this sector.
Regards, Paul.
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