(at 38mins) Judith Mackenzie is worth listening to re EYE: |
Agreed. It looks like a case of too optimistic forecasting in a tough retail environment.
Having said that, Eagle AI seems to be taking off and the fact that SAP are in 8x as many grocers as EYE both bode well for an acceleration next year.
I still believe they will be bought at a considerable premium before the end of the year as they are the global leader in this space and the valuation of 2x ARR is very low.
I've been adding at the 370p level accordingly. |
Video presentation of the recent interims available. Plenty to like, but disappointingly (for me) no real explanation or even acknowledgement of the sudden post AGM downgrade. A big blot in their previously immaculate copybook imho. |
Agreed lomax, the business still has some momentum while we wait for the OEM benefits. |
Good to see the decent uptick in ARR and that another new leading UK grocery retailer is now on board.The major OEM embedding us into their product offering should accelerate adoption. |
Duplicate. |
Hopefully it will be on PI World for us retail investors like the previous ones. |
Fingers crossed!
Eagle Eye, a leading SaaS and AI technology company that creates digital connections enabling personalised, real-time marketing at scale, confirms it will announce its results for the six months ended 31 December 2024 on Monday, 17 March 2025.
Analyst Presentation
Tim Mason, CEO, and Lucy Sharman-Munday, CFO, will host a live virtual presentation and Q&A for analysts at 11am BST on Monday, 17 March 2025.
To register to attend, please contact eagleeye@almastrategic.com |
Thanks for that WJCC, yes could be the reason.
On their website, the name which didn't appear in the OEM agreement rns:
And these articles confirm, surely, it is SAP:
hTps://www.sap.com/industries/retail.html
Looks quite exciting. For some reason I hadn't previously realised quite how big and important SAP was across the data world. |
True but I guess it depends on his salary and how much he needs to live on.
Interims on March 17th. Be interesting to listen to their presentation. I suspect the issue has been potential client preference to move to more easily installed cloud based modular systems with partner selling/installation rather than their more bespoke offering. Hence their contributing their tech to the 5 year enterprise OEM agreement for a new cloud based offering and the reduction in their professional services revenues. APTD are in the middle of doing something similar.
With EV approaching 2 x ARR, I'd be surprised if they're not bid for in H2. |
Yes, i'm probably quibbling, but he is the COO, and would he really be dumping the lot if he felt another quid or more was on the horizon. After all, that's another £80k+. Alternatively, he could have sold say half, and kept the rest for the good days he saw approaching. He only held/holds 27,000, so hardly over committed. |
Although it's an option exercise so not hugely significant in the scheme of things. |
COO happy to cash in at a low and not wait for any upturn - or downturn! |
Exactly. Where did Tim come from? Tesco.Who set up the Tesco loyalty car? Tim. Where? Tesco! |
It didn't come from Tesco at all. It was an original idea that caught he eye of an investor group with which Leahy had a link. It first breakthrough client was Loblaws in Canada. It is now led by Tim Mason who is a Tesco Alumni. |
The fact that EYE emanated from Tesco in the first instance suggests to me that Tesco is their first taker of this new concept. |
Then that would be a very big win. Over time the existing offering will be replaced by personalised offer. I suspect this would be transformational. |
I'm pretty sure any personalisation for Clubcard will be done as an extension of the EagleAI Personalised Challenges platform. |
Tesco just announced they are trialling personalised offers on top of other club card offers. I wonder if Eye is the underlying technology given the success and engagement of the challenges product that Tesco announced after Christmas. If so then this could be a very significant step in the right direction. |
True although the CFO spent 20% of her salary which isn't insignificant. |
good posts, thanks, i've bought a few today on a few years look forward. If EBITDA is still growing, even if slightly slower, net cash should IMO keep rising, making EV/EBITDA valuation attractive to a bidder at some point.
Small Director buying helps, could have been more meaningful....DYOR |
A few director buys announced after the close. |
Shuffle, pretty much all retailers are suffering from uncertainty at the moment so the extended sales cycles are not a surprise. What is bad is that they didn't flag the reduction in professional services at the AGM.
As hew says, the transition to SaaS is a good thing in the long term as is the aim to achieve 50% revenues from OEMs/channel partners - it was always going to be very hard for a company of their size to have the resources to sell into a global market - but as with all SaaS transitions, it suppresses the numbers in the short-term.
Having said that, ARR is up approx 25% in the last 12 months, SaaS revenues are growing at double digits, they have increasing net cash of 12mm and they're generating FCF.
IMHO, a valuation of 2 x ARR for a global leader growing ARR at double digits is extremely low. I would be very surprised if they haven't been bought out before the end of the year. |
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