Gresham Technologies Share Discussion Threads

[qantas] 15/7/2020 10:40

Please do your own research as always.

[qantas] 14/7/2020 09:40

#SFTR reporting goes live - but are sell-side firms prepared? Gresham CTO
@NeilVernon
talks to
@SLTimes_
about why #reconciliations technology, #data quality and control are key to getting reporting right under the new #regulation.



Please do your own research as always.

[richjp] 08/7/2020 19:54

I see that TechMarketView are not quite so positive as they usually are towards GHT, although I think that when a writer uses a word like “stunted”; in the headline and goes on to refer to a “falteringR21; performance, that can give a disproportionate emphasis to the whole piece. The article does then go on to mention the good points. As follows:

“Gresham Growth Stunted by Covid 19

Gresham Technologies, the provider of transaction control and data integrity solutions to the financial services industry, has issued a trading update highlighting the company’s faltering performance in the face of the coronavirus pandemic.

Gresham’s half year results, for the period ended 30 June 2020, are expected to show that group revenue was down 2% to £12.2m. Meanwhile revenue from the company’s flagship Clareti software was down 11% to £7.4m. At the time of Gresham’s FY19 results, published just before lockdown commenced, the company had previously been enjoying strong performance. Group revenue at that point was up 30% to £25m and Clareti, up 31% (see: Gresham delivers excellent results).

Despite new business activity slowing in the face of COVID-19, Gresham’s leadership has expressed confidence in the demand for its offerings. The company has recently secured two significant Clareti licences, including a £1.7m contract with a major global bank. Meanwhile, Clareti renewals have remained strong and forward looking annualised recurring revenue (ARR) was 18% higher in H1 than at the same point last year.

The recent dip in fortunes for Gresham highlights the impact of COVID-19 on market prospects, even in the relatively resilient financial services space. Gresham is a well-managed company with a strong proposition, that had been thriving prior to the pandemic. The company is still working at full capacity, albeit remotely and has indicated that it plans to invest further in sales and distribution during H2 in an effort to boost its pipeline.”


Personally although I would have liked a bit more, I think the results are about as good as we could hope for at the moment and I would certainly have settled for this at the time the covid crisis first hit. As GHT has issued profit warnings in the past and got hammered for it, somewhat unfairly in my view, I can understand them being a bit cautious with regard to giving forward guidance. I find it encouraging though that they are still prepared to invest more in the sales effort.

[gottafly] 08/7/2020 16:56

Seems N1 Singer like the results also.

N+1 Singer Retweeted
Research Tree
@research_tree
·
Jul 6
.
@greshamtech
continues to show strong progress in difficult times. 18% yoy organic growth in Clareti ARR is amongst the fastest growth of any UK software company. Read full report here by
@nplus1singer
#shares #stocks
hxxp://ow.ly/245y50Aqxfo

[gottafly] 07/7/2020 10:47

Seems GHT are pretty pleased with their half year results.

Gresham Tech
@greshamtech
·
21h
News alert! Gresham announces 2020 Half Year Results to finish strongly with #Clareti ARR up 18%, crossing the £10m mark for the first time. Read the full RNS announcement and comment from CEO Ian Manocha here: #fintech #dataintegrity #H1tradingupdate

[qantas] 06/7/2020 13:23

Gresham Tech
@greshamtech
·
News alert! Gresham announces 2020 Half Year Results to finish strongly with #Clareti ARR up 18%, crossing the £10m mark for the first time. Read the full RNS announcement and comment from CEO Ian Manocha here: #fintech #dataintegrity #H1tradingupdate

Please do your own research as always

[gottafly] 06/7/2020 08:56

A carefully crafted announcement in my view - very much steady as she goes approach.

A drop in overall and Clareti revenues is not what we want to hear but these are exceptional times and clearly as the statement says 'new business activity was inevitably slower in the period than originally planned as a result of the impact of COVID-19'. So there has been a Covid hit to the business.

There are positives of course with visible revenues increasing from 84 to 88 percent and the 'Group continues to operate at full capacity' and cash remains strong.

No mention of EBITDA for the half year but there is 'confidence' that the full year expectations will be met. Clearly, given the slower revenue uptake, costs are under careful control (good) and is I believe the main driver behind management confidence in the full year EBITDA. Product investment/innovation/delivery remains unchanged for the foreseeable future - again very good.

The statement quotes recent new Clareti business wins/renewals so clearly some good progress is being made against a difficult background. However, further investment in sales/distribution to 'capitise on the market opportunity' is dependent further business wins. So a cautious approach to maintain bottom line/cash which I think is driven by the strong desire to maintain a 'no debt' position unlike many rivals. My one concern is that this could have a knock on effect for the 2021 numbers, especially since under the recurring revenue model sales need to be consistent over the entire year. Still this year looks safe and who knows what the new normal will be like and perhaps, as hinted, GHT are already past the worst disruption.

The ststement does end positively though with Ian Manocha's comments:-

"Despite the challenging conditions we were delighted to finish the half year strongly with Clareti ARR passing the £10m mark for the first time.

We enter the second half with a strengthened sales and marketing organisation and are seeing sustained demand for automation solutions. We look forward to reporting further positive progress in the second half of the year."

It will be interesting to see the interim results on July 21st which will give more detail and perhaps even a further trading update.

As always DYOR but pretty good statement in my view albeit somewhat cautious.

[amt] 06/7/2020 07:09

Very good update. Despite the Coronavirus they remain remarkably on track for making their target. Already have 88% of full year revenue covered so as economies start to open up in H2 I should think they should easily surpass this. There should be pent up demand I would imagine.

[qantas] 05/7/2020 10:20

htTps://www.theglobaltreasurer.com/2020/06/25/gresham-tech-cto-ai-is-great-at-stating-the-obvious/Please do your own research as always

[qantas] 03/7/2020 15:06

Gresham Tech CTO: AI is great at stating the obvious

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[qantas] 30/6/2020 17:40

Pages 12-13




In the latest issue of Treasurer magazine from ATEL, Gresham Senior Strategist Bill Wrest discusses the changing role of #treasury and #COVID19 as catalyst for #digitaltransformation. Download magazine #104 and read the full article on p12-13 here:

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[qantas] 29/6/2020 10:05

Gresham are successfully winning business during these unprecedented times and we are looking for a Senior Technical Consultant to join us!

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[qantas] 28/6/2020 18:15

Crispin made it again shorting.Odey Makes at Least $28 Million Betting Against Wirecard ["htTps://www.bloomberg.com/news/articles/2020-06-28/odey-makes-at-least-28-million-betting-against-wirecard"]httPs://shorttracker.co.uk/company/GB00BZ6STL67/Please do your own research as always

[qantas] 25/6/2020 16:56

Please do your own research as always.

[qantas] 25/6/2020 12:09

Https://www.greshamtech.com/videos/3-ages-of-data-control-part-3Gresham part 3Please do your own research as always.

[qantas] 25/6/2020 10:32

This demise may be good for Gresham?



The darling of the financial community was founded two decades ago as a processor of payments for porn and gambling websites, but it morphed into a developer of software for online transactions with a roster of A-list customers such as FedEx, Ikea, and Singapore Airlines.

Please do your own research as always.

[gottafly] 19/6/2020 15:27

Well an interesting announcement regarding the appointment of Mark Binck as head of cloud services. This is an internal appointment so not a new face as such and previously he has been CTO of the B2 Group. Must confess I was luke warm regarding GHT's acquisition of the B2 Group, it was certainly not a 'cheap deal', but it does seem that hosting and multi-bank offerings are becomiong a key GHT offering. Overall I agree this is good news and nice to see continued GHT PR activity.

The GHT trading update is only a couple of weeks away and we will see how the half year is doing. The numbers should be a given in my view but it will be interesting to see the level of new business, suspect the global lock down will have suppressed things a bit but I reckon continued strong progress.

[mauricemonkey] 18/6/2020 13:49

I really hope their "own public cloud" is actually Azure or AWS (or another dedicated cloud provider) under the hood to derisk this.

[inforprofit] 18/6/2020 11:40

Good announcement (extract below) and another pointer where GHT is headed and the value it brings.

London – Global fintech firm, Gresham Technologies (Gresham), has appointed Marc Binck as Head of Cloud Services to accelerate the firm’s cloud strategy across global markets.

Marc comments: “Market volatility caused by the COVID-19 crisis means firms are now facing unimagined volumes of data on a daily basis. Gresham’s public cloud offering provides the elasticity of scale required to navigate these challenges, so our existing and future customers can focus on what matters most; growing their businesses.”

Neil Vernon, Chief Technology Officer, adds: “It’s essential that we continue to provide access to cutting edge technology as well as unrivalled market expertise for our customers. Gresham’s public cloud offering enables us to help firms across the cloud maturity spectrum, from those looking to migrate away from legacy technology onto existing cloud providers or to our own public cloud – and do so 100% securely and remotely. Our approach to cloud means we’ve been able to onboard our customers virtually, without meeting teams face-to-face – a crucial element of the new normal we now operate in.”

As always DYOR but another tick in the box.

[qantas] 18/6/2020 10:54

Gresham Technologies appoints Marc Binck as Head of Cloud Services to spearhead global strategy

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[qantas] 16/6/2020 16:12

Https://www.greshamtech.com/blog/videos/3-ages-of-data-control-part-2?hs_amp=true&__twitter_impression=true

[gottafly] 11/6/2020 12:48

Agree its likely to be a UK HQ bank deal, the timing of the announcement I think would preclude the US.

In my view this is certainly not PR and I have been critical in the past of GHT's over use of rhe RNS system. This is clearly a hard fought major strategic win, won against stiff competition after a 'particularly rigorous evaluation of competitor offerings'.

I feel it is worth rereading the statement made by GHT at the AGM on May 14th (reproduced below for convenience) where GHT expressed optimism but a cuatious approach to figures. This was less than a month ago and a major deal signed, many more to follow hopefully.

-------------------------

"Despite the very challenging global environment, the Company continues to operate at full capacity and, as announced on 20 April 2020, we remain confident in our ability to achieve FY2020 guidance for Group Adjusted EBITDA and Cash EBITDA.

Adjustments to our annual operating plan have been made to ensure that the Company is able to protect full-year earnings, and ensure adequate liquidity, without disrupting our services to customers or negatively impacting the longer-term growth prospects of the business. The Company expects to maintain current levels of investment in innovation and distribution for the foreseeable future.

The Company is actively pursuing a number of new Clareti sales opportunities and is encouraged by the ongoing business activity in our target markets. However, the overall impact of COVID-19 on the Group's ability to generate new revenues to the levels originally planned for FY2020 remains unclear and the Board does not believe it would be appropriate to provide further forward-looking financial guidance at this time."


----------------

As always DYOR

[gerihatrick] 11/6/2020 12:28

GHT was the main rec. in SCSW in Feb 2017; then September 2017; March 2018; August 18; but has not said much since. Techinvest and Techmarketviews have been consistent in their comments on an ongoing basis. All building on the story.