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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Cornerstone Fs Plc | CSFS | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -0.50 | -1.30% | 38.00 | 14:02:37 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 38.50 | 38.00 | 38.50 | 38.00 | 38.50 |
| Industry Sector |
|---|
| SOFTWARE & COMPUTER SERVICES |
| Top Posts |
|---|
Posted at 16/4/2024 09:43 by z1co Notice of Final Results and Investor PresentationCornerstone FS plc (AIM: CSFS), a foreign exchange and payments company offering multi-currency accounts to businesses and individuals through its proprietary technology platform, gives notice that it will be announcing its full year results for the year ended 31 December 2023 on Wednesday 8 May 2024. Presentation to investors James Hickman, CEO, and Judy Happe, CFO, will provide a live presentation via Investor Meet Company at 10.00am BST on 8 May 2024. The presentation is open to all existing and potential shareholders. Investors can sign up to Investor Meet Company for free and add to meet Cornerstone via: |
Posted at 15/4/2024 18:05 by dorian12 CSFS is now extremely profitable and cash flow positive.Figures for the second half of 2023: *£6m of revenue *EBITDA of £1.2m *Cash generated from operations of £1.3m *Cash increased by £1.5m Those figures for 6 months compare very favourably to a £22m market cap. |
Posted at 15/4/2024 16:49 by pwhite73 Z1CO - "You were saying the same at 6.5p and you must scared a few in to selling their shares"Yes I have been saying sell since the 6.5p placing in August 2022 and at 38p I still maintain that stance. The company has been reporting double digit margin improvements since August 2022 but it is still loss making. It is unclear to me where it is getting its money from, who are their clients and why are CSFS not regulated by the FCA. I don't believe their story and expect the whole house of cards to come tumbling down in one RNS. |
Posted at 12/4/2024 08:08 by z1co Last year their H2 revenue of £6.0m was 66% higher than H1 £3.6m.The total for 2023 being £9.6m was significantly higher than what the house broker was forecasting at the beginning of 2023.To put the scale of the business’ momentum into perspective, management was guiding the market to expect annual revenue of £6.5mn at the interim results in September 2023. Some reasons why CSFS is growing spectacularly: First of all hiring the new CEO James Hickman was a master stroke. Cornerstone differentiates itself from rivals by facilitating relatively large transactions (such as property transactions or corporate investments) for customers which fall outside the traditional transaction remit of banks. Given their cumbersome legacy IT systems, banks not only lack the cutting edge technology to effectively service these demand niches, but they are also unwilling to invest in scaling their compliance capabilities for client onboarding and ongoing transaction monitoring. Cornerstone’s tailored service requires a high level of compliance support with each customer given a dedicated account manager. The focus is on quality of service, another differentiator to legacy banks. Furthermore, Cornerstone has the expertise (12 sales professionals and another 12 employees split equally across compliance, IT and technology and operations) and infrastructure in place to be able to operate in certain jurisdictions, such as Dubai and China, which many rivals avoid due to the regulatory complexity. For instance, Cornerstone has made significant investment in its technology platform to be able to carry out extensive due diligence on potential clients prior to onboarding them and fulfilling their cross-border payment demands. |
Posted at 22/3/2024 18:07 by z1co Dorian as you say Equals Group are on a PE of 20 x for 2024 a similar rating for CSFS would equate a share price of £1. |
Posted at 20/3/2024 10:03 by z1co Proposed change of name to Finseta plcCornerstone FS plc (AIM: CSFS), a foreign exchange and payments company offering multi-currency accounts to businesses and individuals through its proprietary technology platform, is pleased to announce its intention to change the Company's name to Finseta plc. In connection with the proposed change of name to Finseta plc, the Company's TIDM is expected to change to 'FIN'. The ISIN (GB00BNG7CD28) and SEDOL (BNG7CD2) of the Company's ordinary shares will remain unchanged. Shareholder documents of title will be unaffected by the proposed change of name and existing share certificates should be retained and remain valid. Any new share certificates issued after the name change becomes effective will bear the new name, Finseta plc. The change of name is expected to take effect during April 2024 and a further announcement to confirm the timing of the change of the Company's name and TIDM will be made in due course. James Hickman, CEO of Cornerstone, said: "As part of our strategic growth plan, we are excited to announce that Cornerstone FS is undergoing a renaming process. This decision is driven by our desire to better align our brand identity with our mission, values, and the comprehensive range of services we provide. Finseta has been chosen to differentiate us in the marketplace as we build upon our reputation as a client-focused leader." |
Posted at 24/1/2024 07:56 by someuwin Shore Capital...Cornerstone FS+ (CSFS, House Stock at 35p) Card scheme agreement with Mastercard Summary. Cornerstone has announced a long-term agreement with Mastercard to launch a corporate card scheme. Under the scheme, due to launch in Q3 2024, CSFS will issue commercial cards co-branded and supported by Mastercard to the CSFS’s corporate customers. The agreement is further substantiation of the company’s ability to establish major commercial partnerships and extends the payment methods available to customers globally. We anticipate more colour on the potential commercial and economic impact to CSFS of this agreement at the upcoming FY23 results in May, leaving our forecasts unchanged for now. The valuation remains attractive, and despite recent share price strength, we think there’s plenty more to go for. HOUSE STOCK. Valuation: Our prevailing 50p fair value suggests further share price upside, despite the >4-fold increase over the past year. We anticipate upside to our fair value estimate when we reappraise forecasts, most likely next in May. On our prevailing (prudent) forecasts, we estimate FY24F P/E at c.23x and FCF yield at c.5%, with FY25F at c.11x and c.11% respectively. |
Posted at 10/1/2024 11:17 by someuwin Shore CapitalCornerstone FS+ Strong close to FY23F, another beat Cornerstone FS (CSFS), the fast-growing UK-based payment services provider to SMEs and HNWIs across c.60 currencies and >150 countries, has published another strong trading update. FY23F adjusted EBITDA is guided at £1.4m, c.40% ahead of our estimate (last upgraded on 4 Dec), after a very strong end to the year. Cash generation was also significantly ahead of our expectation, entailing a positive net cash position at Y/E. We leave our outer-year forecasts unchanged ahead of FY23F results due in May but continue to envisage upside risk. The valuation remains attractive, and despite recent share price strength, we think there’s plenty more to go for. HOUSE STOCK. Growth: Strong revenue growth during FY23F reflects higher active customers, which rose to 906 from 803 in FY22A, and a significant increase in average transaction values, with revenue per customer estimated at >£10k compared to c.£6k in FY22A. This growth has been enabled by expansion of the sales team and customer offering, the latter driven by an increase in the number of counterparties CSFS can transact with, broadening the range of currencies and countries. Profitability & cash generation: FY23F marks a maiden positive adjusted EBITDA. Profitability improvement reflects an increase in gross margin to c.63% from c.61% in FY22A, reflecting a switch to direct sales away from legacy white labelling, and a change in commission arrangements during H1. Improved profitability is also the result of continued cost control. This has driven an improvement in net cash generation from operating activities, anticipated at c.£1.4m in FY23F vs. an outflow of £0.8m in FY22A. Scalability of CSFS’s proprietary technology platform should enable further improvement in profitability over the long term, with sufficient funding headroom and cash generation to finance the business’ ambitious growth plans. Forecasts: We upgrade our FY23F forecasts in line with revised guidance, whilst leaving our outeryear profit forecasts unchanged. Since our initiation of coverage on 6 Nov, this is the second set of upgrades we publish. Forecast momentum should remain positive, continuing a trend which has seen the company raise revenue and profit guidance several times over the past year alone. Valuation: Our prevailing 50p fair value suggests material further share price upside, despite the >4-fold increase over the past year. We anticipate upside to our fair value estimate when we reappraise forecasts, most likely next in May. On our prevailing (prudent) forecasts, we estimate FY24F P/E at 17.8x and FCF yield at c.6%, with FY25F at 8.4x and c.14% respectively. |
Posted at 10/1/2024 10:29 by dorian12 CSFS's revenue is the margin they make on the fx trades. The value of the underlying fx trades is much larger.In 2022 CSFS's revenue was £4.8m, but the value of the transacted payments was £584m. CSFS transact a very substantial value of business. |
Posted at 06/11/2023 10:40 by intoodeep Cornerstone FS+ (CSFS, House Stock at 14p) Bearing growth aplenty Cornerstone FS (CSFS) is a fast-growing UK-based payment services provider to SMEs and HNWIs across c.60 currencies and >150 countries. At a relatively early stage of its development, CSFS has made significant operational and financial progress over the past two years. Having recently reached the point of positive adj. EBITDA and operating cash flow, assuming strong and broad-based growth continues, its scalable core technology platform should drive considerable operating leverage. We initiate coverage on CSFS, our forecasts suggesting significant share price upside. HOUSE STOCK. |
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