Fd Technologies Public Share Discussion Threads

[glavey] 27/12/2018 07:05

Well, if we are to understand that you popped by earlier as you had foresight of an article to be published on Xmas Eve, thank you EzraM.

[ezram] 24/12/2018 09:40

( See share prophet website this morning )

Moorsie will you put a positive spin on this

If that news doesn't cut into revenue in near termm it certainly has the potential in long term

Thank you for the greetings Glavey

[skatersav] 23/12/2018 16:23

Ezram, I also have a negative view on this company but I’m in the dark as to why January is going to be particularly bad. Is there a particular aspect to this company that worries you? Is there an event that we should be aware of?

[glavey] 22/12/2018 03:47

In that case, sorry about your Jan but do have a wonderful Xmas.

[ezram] 21/12/2018 10:27

Not sure on why joining yesterday is of note

My post was pretty direct

[glavey] 21/12/2018 05:13

Err..., you are south of the equator? ¯|_(ツ)_/¯

[swiss paul] 20/12/2018 20:50

Oh guru of knowledge please lead us to your supposition - erm noticed you joined today - welcome aboard

[mw8156] 13/12/2018 14:52

'Quantum security start-up raises over £2m in investment....'

[swiss paul] 13/12/2018 12:36

Link please MW

[mw8156] 13/12/2018 11:58

see kx division of FDP has made an investment in Univ Bristol spinout Kets Quantum

[skatersav] 06/12/2018 13:35

I’m not trying to create an association. If it appears that way, then I apologise. However, high receivables relative to sales is a red flag. And also, separately, blue chip customers are not proof that a company is entirely legit. I think those two statements are clear and i can’t see how they can be rationally disagrees with.

As for what proportion of the receivables are trade or otherwise, in either case they have been booked to income and so it’s something of a moot point.

[glavey] 06/12/2018 06:31

skatersav,
Very well, but that's not what you wrote though, is it. (And are seemingly still trying to create an association...)
I'll take the ultimate comment as well meant, as I'm sure you wouldn't resort to sarcasm.
Whilst you popped in here after you discovered a short position (AIUI) I, for one, am happy to read your pertinent arguments.

[valhamos] 05/12/2018 19:35

No that's not correct. The £68m is not just trade receivables. Unfortunately for the interims we are not given a breakdown of receivables but my point is proved by looking at the annual accounts - the equivalent figure includes more than trade receivables as per note 20, things like accrued income, prepayments and grant income receivable which look reasonable to me (You think otherwise?) So your "4 months" is a completely meaningless number.

[skatersav] 05/12/2018 18:38

I see £68m at the half year. 58 current, 9.8 Long term. Vs 200m odd sales, on a ttm basis. That’s basically 4months. “Glayvay”; claimed that blue chip customers wouldn’t buy from a disreputable company (or something to that effect). I simply pointed out that Autonomy had blue chip customers... and similarly had large receivables.

[valhamos] 05/12/2018 16:03

Long term receivables - £6.279m are not going to be trade receivables. You can see this from note 32 where total trade receivables is stated as £40.911m gross with impairment of £2.982m giving the £38.2m mog quoted from note 20.


The debtor position seems quite reasonable to me. Where does Autonomy come into this?

I had a position in this for a number of years a while back. Starting to be interested again.

[skatersav] 05/12/2018 15:02

You’re missing long term receivables.

[mog] 05/12/2018 09:34

Trade receivables were £38m in 2018 out of £186m revenue so 2.5 months, reasonable to me. From the 2018 accounts notes "On larger contracts revenue is invoiced in line with the terms of the contract with revenue recognition occurring on client acceptance that non-refundable milestones have been achieved." We all have to decide whether to believe what we read, I don't see any more reason to disbelieve these people over anyone else running a public company.

[skatersav] 05/12/2018 06:53

Well, I was actually referring to Autonony, for which one exec is now in jail. However, I would note FD has a similar level of days sales outstanding (4 months). Good luck with this one, Glavey. You all really sound like you know what you’re taking about, so I’m sure it will work out for you. :)

[swiss paul] 04/12/2018 21:08

swings and roundabouts eh nsss (thnaks for the link)
Why I Like First Derivatives plc (LON:FDP)
Pam Parks December 3, 2018

Building up an investment case requires looking at a stock holistically. Today I’ve chosen to put the spotlight on First Derivatives plc (LON:FDP) due to its excellent fundamentals in more than one area. FDP is a financially-sound , dividend-paying company with a an impressive track record of performance. In the following section, I expand a bit more on these key aspects. For those interested in understanding where the figures come from and want to see the analysis, take a look at the report on First Derivatives here.
Excellent balance sheet with proven track record and pays a dividend

Over the past year, FDP has grown its earnings by 35%, with its most recent figure exceeding its annual average over the past five years. Not only did FDP outperformed its past performance, its growth also exceeded the IT industry expansion, which generated a 3.7% earnings growth. This is an optimistic signal for the future. With a debt-to-equity ratio of 27%, FDP’s debt level is reasonable. This implies that FDP has a healthy balance between taking advantage of low cost debt funding as well as sufficient financial flexibility without succumbing to the strict terms of debt. FDP seems to have put its debt to good use, generating operating cash levels of 0.53x total debt in the most recent year. This is also a good indication as to whether debt is properly covered by the company’s cash flows.
(lifted off wall st)
Ta -

[glavey] 04/12/2018 03:26

skatersav,
I believe your understanding is flawed and your argument clichéd and simplistic.
Were's your support to imply they are booking revenues too early.

[nsss] 03/12/2018 23:41

simplywall.st gives 17 a fair price hxxps://goo.gl/GWXefK

[swiss paul] 03/12/2018 21:13

Sav what price does Matt Earl say then?

[flybyknight] 03/12/2018 11:49

sale on Friday does not look good

expected another drop this day

[badger36] 03/12/2018 10:55

Twilo hits a hundred dollars and this is having collapsed more than 65%. Some heads need to roll

[skatersav] 01/12/2018 16:02

Because they want the corporate finance work.