Share Name Share Symbol Market Type Share ISIN Share Description
Crossrider LSE:CROS London Ordinary Share IM00BQ8NYV14 ORD USD0.0001
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 76.50 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
75.00 78.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Media 56.53 -10.01 -7.60 109
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 76.50 GBX

Crossrider (CROS) Latest News

Crossrider News

Date Time Source Headline
04/11/201907:01RNSNONKape Technologies PLC Kape to present at Mello London
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Crossrider Investors    Crossrider Takeover Rumours

Crossrider (CROS) Discussions and Chat

Crossrider Forums and Chat

Date Time Title Posts
13/3/201811:59Crossrider is powering the next generation of digital advertising385
15/5/201521:58Next generation of digital advertising6

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Crossrider (CROS) Top Chat Posts

gorilla36: It is the February pick for the Penny Share Letter. PSL has a good track record over the last two years. I can't retype all the detail here, but basically the case it makes is that cyber security is growing exponentially, it has £69m in cash for acquisitions, it is changing its model for subscribers from pay once to subscription, it is developing new products to sell to existing base. BUY at 73p
rivaldo: Agreed. A strong update, with much confidence going forward. With cash of almost $70m, plus now historic $8.3m EBITDA (up from $6.4m), and CyberGhost showing accelerating growth CROS looks to have minimal downside and very good upside from here.
poggio: IMHO the trading update today confirms the news upgrade cycle remains intact and positive for CROS. I note in particular that management expectations were beaten by the Cyberghost product. So Shore Capital will revise their figures upwards for profits. The date of preliminary results is stated as 13 March 18, in the interims issued 11/9/17 (hidden well through the report). No contradiction from management today on prelims issue date.
dibbs: I've held TAP for a long time and have been lucky enough to profit very nicely from their continued success making other plays in this area of interest to me. When Apple launched iOS 11 much of the sector seemed to be knocked as investors feared Apple would kill the cookie and impact upon the whole Ad Tech sector. TAP were quite clear that this would not impact upon them. CROS looks an interesting play with an attractive valuation and plenty of cash to back it up. A load of names I respect posting here adds further interest. Have CROS commented on if cookie deletion will impact upon them or not? Cheers Dibbs
glasshalfull: Added heavily today. I’d top sliced quite a few following the Simon Thomson, Investors Chronicle surge in September & essentially was fortunate to buy them back today 20% cheaper. Highlights the drift in many small cap companies in the absence of news. Spent a number of hours reviewing the company over the weekend and watching the excellent PI World presentation from mid-October. As mentioned, the shares have fallen by (-20%) since early October 2017. This is despite the fact the company agreed to a recorded presentation which was bullish in content and outlook & also initiated a Capital Markets Day in the intervening period. Not something undertaken lightly if a precursor to any bad news. The CEO also confirmed in an RNS 5-weeks ago that CyberGhost was, “ fully integrated and performing ahead of expectations” as noted by mfhmfh. HTTPS:// So - IMHO - I believe risk/reward now markedly improved as an investment @ c.65.5p To recap, at the current share price: - Market Cap £92.3m Net Cash $60.87m or £50.6m (at 30.06.2017) or 55% of the Market Cap Enterprise Value £41.6m The company is generating cash with Shore forecasting $5.4m FCF in 2017, increasing to $7.1m this year which equates to a FCF yield of 5.9%. Earnings are also forecast to grow strongly over the next few years. This could accelerate if they are able to deploy their significant cash balance on suitable acquisition(s). Adjusted diluted EPS(c) 2016A 2.9c 2017F 3.9c (+34%) 2018F 5.1c (+31%) 2019F 5.9c (+16%) With cyber-security such a hot-topic the cash adjusted PER of 9 appears excellent value IMHO. Shore commented in Sept 2017, “...Crossrider’s interims results demonstrate momentum in the ongoing business post a transformational 2016, with adjusted cash from operations growing 95% on an underlying basis. The CyberGhost acquisition is performing ahead of expectations, offering early proof of concept for Crossrider’s distribution capabilities with new products. We leave our full year forecasts largely unchanged at this time, with increased visibility on earnings given the underlying performance the first half and the H2 weighting of the Media businesses. Crossrider trades on an ex-cash PE of 9.4 x and a FCF yield of 4.5%, a compelling valuation in our view.” Kind regards, GHF
tomps2: Video of the investor presentation by £CROS CEO: Ido Erlichman 25.10.17 Length: 30 mins Http:// Background & introduction 00.18 The opportunity – 01:34 Market drivers – 02:40 Core software products – 04:16 Positioning in the Personal Security Market – 07:52 Optimising users - 09:02 Highlights: H1 – 13:39 CyberGhost acquisition – 15:27 KPIs - 18:13 Strategic priorities – 20:19 Financial highlights – 21:45 Revenue analysis – 22:33 Key growth drivers – 23:12 Summary – 24:43 Q&A Is there a seasonal bias? – 26:11 Is a dividend likely in the future? – 26:49 With Cyber Ghost, what is your differentiating factor? 27:39 Is IoT useful to drive concerns amongst a new consumer base or are there new products you can develop in this area? 28:50
horndean eagle: Miton are a holder of CROS so I think Gervais and CROS appearing isn't a total co-incidence
tomps2: BTW MTB - I don't believe Gervais Williams is going to 'feature' CROS in his Wednesday presentation, although yes, he is presenting, at the piworld / Progressive Equity Research / MHP event. It is Crossrider's CEO & CFO who are presenting at the same event on Wednesday. Space is limited, but if you want to attend, get in touch with and we'll see what we can do.
twistednik: From mergermarket: Isle of Man-based cybersecurity company Crossrider [LSE:CROS] can "reasonably" expect to close a bolt-on acquisition before year-end and a larger acquisition within 12 months, CEO Ido Erlichman said. Crossrider is involved in multiple ongoing M&A talks, Erlichman said. The talks are in different stages, he added. Crossrider receives approaches from advisers with M&A opportunities regularly and works with UBS, Credit Suisse and boutique M&A advisory firm GCA Altium to identify potential targets, he said. The company, however, is keen to continue receiving approaches about opportunities from other advisors, Erlichman added. Crossrider has GBP 72.1m on its balance sheet which can be used for acquisitions, Erlichman said. The company prefers to use a combination of cash and shares for acquisitions, he added. The company does not foresee requiring further financing for acquisitions in the short-term but it could consider raising further funding if it decides to make a larger acquisition, Erlichman said. Founded in 2011, the company last year shifted its strategy to focus on cybersecurity for consumer, from its previous focus on advertising technology, according the company's annual report. The company aims to use M&A and organic growth to build a portfolio of cybersecurity products aimed at allowing consumers in the company's main markets to take control of their data privacy and security, Erlichman said. In recent years, many innovative cybersecurity tools have become available, but are mainly sold to enterprises, while most cybersecurity products sold to consumers are still anti-virus applications, Erlichman said. The US is Crossrider's largest market, making up approximately 40% of its revenues, Erlichman said. The UK, France, Germany, and Italy are also large markets for Crossrider, he said. Crossrider earlier this year acquired CyberGhost, a Romania-based virtual private network (VPN) provider, for a consideration of up to EUR 9.2m, according to Mergermarket data. The company could consider acquiring other VPN providers to increase its user base, Erlichman said. It could also acquire companies offering complementary products targeting the consumer market, including parental control software and proactive cybersecurity products, he added. Crossrider had revenues of GBP 56.5m in 2016, according to its latest annual report. Incorporated in the Isle of Man, the company's commercial and R&D activities are located overseas, in Israel, Cyprus, Romania and the Philippines, according to the company's website. The company is 73.38%-owned by Unikmind Holdings, the holding company owned by Israeli businessman Teddy Sagi, the founder of gambling software firm Playtech [LSE:PTEC], according to the Crossrider website. Other significant shareholders include Minton Group [LSE:MGR] and Legal & General Investment Management , which hold stakes of 6.19% and 4.23%, respectively, according to the website. Listed on the Alternative Investment Market of the London Stock Exchange, the company's shares were trading at GBP 0.61 per share today, 29 June 2017, giving it a market capitalisation of GBP 86.04m. Its nominated advisor and broker is Shore Capital. Its legal advisor is Berwin Leighton Paisner and its auditor is BDO.
rathair: The business model of online distribution and digital products specialist Crossrider (CROS) has evolved since the company floated on Aim in the autumn of 2014, when it raised £46m at 100p a share. The business is no longer solely focused on monetising web and mobile media through the use of big data, but now has an app distribution platform that its customers can use for marketing their own products. The board is also using the company’s cash-rich balance sheet to add to its product portfolio. A good example is Crossrider’s bolt-on acquisition a few months ago of DriverAgent, a PC maintenance software products company offering a leading device driver search and update service, which scans computers for outdated drivers. The product is designed for use with desktop computers, tablets and mobile devices and is compatible with all Windows operating systems. It’s popular too, having been downloaded more than 50m times in the past decade. Before the acquisition, Crossrider had successfully promoted DriverAgent on its own proprietary app distribution platform, achieving a 125 per cent increase in revenue from the product and doubling the monthly average gross profit achieved before launch on the platform. In a trading update a few weeks ago, Crossrider’s directors revealed that DriverAgent has been fully integrated into its own proprietary app distribution platform and the $1m (£800,000) acquisition is expected to be earnings accretive in the first year under the company’s ownership. Crossrider’s web app distribution business also offers Reimage, a patented Microsoft-based product tool that enables customers to clean up their computers. Users are offered a free scan that identifies infected files and then offered the product for $99 before incentives if a repair to their computer is required. I understand that the conversion rate is around 5 per cent, thus providing a decent income stream for Crossrider. The transition from an advertising technology company to one that provides a distribution platform and product hub for companies focused on digital products as well as its own consumer base makes commercial sense. App distribution accounted for almost two-thirds of Crossrider’s first-half revenue of $28.7m, and at sharply higher margins, reflecting more than 250,000 individual product sales. Rising profitability from this segment is being supported by a move to reduce reliance on outsourcing activities and increase direct control over distribution, thus improving customer service and retention rates with the aim of shifting towards a more recurring revenue base. The company’s other main activity has two business lines: Ajillion, a white label mobile ad server for ad networks, and agencies; and DefinitiMedia, a mobile ad network. Ajillion enables ad networks to buy and sell mobile advertising capacity from publishers and advertisers and takes a cut of the value of traffic generated across its platform. DefinitiMedia is an advertising network that uses the Ajillion hub to offer managed services through the Ajillion platform. The profit contribution from Crossrider’s media division rose by around 13 per cent in the first half of 2016. Under the leadership of chief executive Ido Erlichman and finance officer Moran Laufer, who were both brought in last year, the company has successfully restructured its operations, cut $2m of annualised overheads, and hit analysts’ cash profit estimates of $6.4m on revenue of $56.5m in 2016. True, full-year pre-tax profit of around $5.9m will be a quarter below the prior year’s result, a reflection of the decline in its web apps business, which was focused on providing software code to large numbers of independent code developers and small publishers. These developers then incorporated Crossrider’s extensions into their own products, pages and apps, allowing adverts to be served to users, thus generating revenue for the content owner. The problem being that the monetisation methods were intrusive for end users, prompting Crossrider to withdraw from this previously profitable business line. Clearly, investors have been concerned that Crossrider’s business is in structural decline, hence a share price trading at half the flotation price. However, with the company’s year-end cash pile equating to £58m at current exchange rates, representing 83 per cent of the market capitalisation of £70m, its profitable and growing media and app distribution platform businesses are effectively being valued at only £12m. That’s anomalous considering Crossrider is cashed up for further bolt-on acquisitions, and analysts expect a return to growth in 2017. In fact, Gareth Evans at Progressive Equity Research believes that Crossrider can grow pre-tax profit to $6.7m and generate EPS of 3.4¢ (2.7p) this year, estimates that don’t look out of place to me. So, with forthcoming full-year results on Tuesday 14 March set to highlight the successful business transition and upbeat trading prospects, a substantial share price re-rating is in order. Buy.
Crossrider share price data is direct from the London Stock Exchange
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