Ideagen Share Discussion Threads

[multibagger] 07/2/2016 11:29

I don't think that we will directly benefit from the paperless initiative. We are a long way off a paperless NHS ! I know for sure.

IDEA products are around the Governance, Compliance and Regulatory side of things and the NHS has plenty of paperwork and bureaucracy to grapple with and information devouring beasts to feed - eg. Care Quality Commission (CQC), Monitor, Clinical Commissioning Groups (CCG), Health and Social Care Information Centre (HSCIC), HM Coroner, Regulatory bodies such as GMC, NMC, internal assurance systems, Board governance requirements etc. This is just an indicative list....

IDEA will not be short of work in the NHS for a long long time to come :)

[tdog1975] 07/2/2016 11:20

Think we will get some of hunts money!

[hutch_pod] 26/1/2016 16:06

That's a well written article Hastings, thanks for posting.

[droid] 26/1/2016 12:39

Another 40k shares bought by Hornsby this am.

[hastings] 26/1/2016 12:33

Additional thoughts that may be of interest.

[rivaldo] 26/1/2016 10:42

Bullish thoughts from Richard Holway's web site:



"Tuesday 26 January 2016

Ideagen progressing nicely

Ideagen (a supplier of information management software to highly regulated organisations) continues to establish a lucrative position in the fragmented market for GRC (Enterprise Governance, Risk and Compliance) software. Thanks to the acquisition of Gael (see here) in January 2015 revenues for the six months to 31st October rose by 75% yoy to £9.87m. Revenue growth does not hinge on acquisitions with the company growing organically by 6% during the period. Adjusted EBITDA increased by 65% yoy to £2.41m.

The company’s land and expand strategy was highlighted in Clients embedding Ideagen’s solutions and today Ideagen announced that 77% of revenue is either recurring or repeatable. Recurring revenues were maintained at 53% of revenue while 24% of revenue was derived from additional licence and service sales to existing customers. The customer base now stands at more than 2,200 organisations. New customer wins accounted for 23% of revenue with notable GRC wins at among other Schiphol Airport, Fokker, Providence Healthcare and Kyocera. The Content and Clinical solutions division accounts for 23% of revenues but delays in decision making within acute NHS trusts has curtailed growth. GRC will continue to be the core driver of overall growth.

The predictable revenue streams have enabled Ideagen to invest in Enlighten (the company’s SaaS based GRC platform) however cloud related revenues are currently minimal. Management commented that going forward the expectation is for the SaaS and On Premise platforms to contribute the same amounts to revenue growth. Ideagen’s disciplined approach to account management should mean that the company avoids cannibalising its core On Premise revenues."

[hastings] 26/1/2016 09:39

Speaking with the CEO later this morning, so will pen some thought if of interest.

[yump] 26/1/2016 09:33

Re: second half weighting - on a quick read earlier I think there was a comment about a large amount of annual overheads being due in the first half.

[rivaldo] 26/1/2016 09:14

:o))

Good results, and great recurring income in particular. Nice strong outlook for H2 as well.

There seems to be some historic seasonality, so presumably this partly accounts for the confidence in H2 reaching the forecast 2.7p EPS for the year.

The £5.4m cash pile should remain stable given the reduced O/H expenditure in H2 netting off the £1.6m Gael deferred consideration paid in January.

The NHS is the only drag on growth, and even this is expected to turn later this year.

[yump] 26/1/2016 08:03

Nice to be invested in a company where they are just building growth reliably and pretty fast. So 'nothing to see here' ;-)

[glasshalfull] 26/1/2016 07:51

Congratulations to DH & his team.
Strong results with clearly more to come.

finnCap say,

"Ideagen has reported interims to October in line with unchanged expectations and the November trading update: revenue growth of 75% (including 6% organic growth) to £9.9m delivered EBITDA of £2.4m (+65%) and adjusted PBT of £2.1m (+65%), with net cash at £5.4m.

The post period end award decision notice for the £4.9m five-year contract for deployment of Enlighten, the cloud-based governance risk and compliance solution, for a public sector organisation sets the tone for potential momentum and attracts industry recognition – adding to the visibility generated by 97% contract renewals, and 53% recurring revenue.

With typically seasonal second half strength and the balance sheet wherewithal to support organic growth, acquired growth (unmodelled), and dividend growth, we reiterate our 52p target and look forward to further contract news."

Regards,
GHF

[yump] 20/1/2016 09:03

There's been a similar pattern twice in the past. Given the volume spike a few weeks ago, perhaps its original stakeholders or investors selling part holdings into strength. Each peak has come down to where it started and then gradually moved up again.

[pj 1] 20/1/2016 08:18

That's the break out well and truly gone :-((

[multibagger] 16/1/2016 07:22

Thanks Rivaldo !

Lovely to hear of another contract win with a ? new customer. Surely worth a few £ hundred thousand a year, though we will have to share our revenue with Icarum, our Spanish partner.

[rivaldo] 15/1/2016 08:39

News of a contract win...



"WamosAir choose Ideagen’s Gael Enlighten to enhance aviation safety management
Thursday, 14 January 2016 16:50
Published by Ozgur Tore

Aviation safety management specialists, Ideagen, will provide Spanish Charter operator WamosAir with its leading cloud-based safety management software, Gael Enlighten. WamosAir – part of the Wamos Group – will implement Gael Enlighten to remove a series of silo systems which require excessive manual input for safety and operational data collation. At the same, Enlighten will simplify compliance efforts to make it easier when demonstrating efficient levels of compliance to local Spanish and international authorities.

Working with Ideagen and its Madrid-based Spanish partner, Icarum, WamosAir’s use of the Gael Enlighten product is set to bring a number of operational improvements to the organization, namely;

• Improved streams of communication
• Reduced time to close findings and investigations
• Increased levels and quality of safety reporting
• Reduced man hours required in producing reports and demonstrating compliance

Hugo Gomez, Compliance Director at WamosAir, said: “We wanted a software solution which would epitomize the ambition and thought leadership we possess throughout the organization; and Gael Enlighten was the fresh, new, scalable and cloud-based product which fitted that bill.

“We have developed an ongoing, working, relationship with Ideagen and its partner Icarum and feel that Gael Enlighten will not only enhance our safety and quality efforts, but increase risk and risk management awareness also.”

Mr Gomez continued: “These are exciting times for our organization, and we are looking forward to working closely with Ideagen, Icarum and the Gael Enlighten software product.”

Founded in 2003 to boost Group expansion in the cruise market in Spain, WamosAir is based at Madrid Barajas International Airport and guarantees air transport for travelers on both its Caribbean holiday product and for cruises. The company also operates wet leases for companies in Far East Asia and Saudi Arabia.

WamosAir’s fleet is made up of five Boeing 747-400s, giving a total capacity of 2,000 seats daily and positioning the company as Spain’s third largest long-range airline.

Steven Cespedes, Ideagen’s Head of Aviation, added: “We are delighted to be working with WamosAir; an organization filled with smart and exciting aviation specialists whose innovative approach to aviation safety management mirrors our own approach and products – such as Gael Enlighten. We are extremely looking forward to a productive and successful future together.”

Juan M. Gallego, Ideagen’s Spanish Partner and Director of Icarum, said: “Working with WamosAir, Ideagen’s Gael Enlighten solution leads the way in SMS applications in Spain.”"

[multibagger] 14/1/2016 06:11

Good to hear of an increase of holdings = reduction in free float. Big contracts with recurrent revenue visibility and no debt make IDEA very attractive as an investment.

[rivaldo] 13/1/2016 13:56

RNS - solid buying from Investec. They had 19.9m shares on 24th November, and they now have 21.9m, so around 2m bought:

[multibagger] 09/1/2016 19:08

You sound pretty confident, let's hope you are right !

It could well be...the last one was worth almost £4.9m over 5 years. I hope these size of contracts become the norm and recurrent :)Not often that you see software contracts in tens of millions, but they do happen. All in good time !

[bally101] 09/1/2016 16:02

When I say large, several million. Not tens of millions, but hopefully still nice.

[multibagger] 09/1/2016 12:57

Well it could be true that they have won a large contract....it's been a while since the last one was announced and they were exhibiting at a major Asian helicopter show in Kuala Lumpur recently.

We'll soon know if there is any truth to it. But either way, we are poised for good growth over the coming years.

[bally101] 08/1/2016 14:12

Hearing they may have won a large contract ! :)

[scottishfield] 22/12/2015 16:29

added also.

[cwa1] 22/12/2015 16:25

Decided to join you with a small purchase at 51'ish. Fingers crossed and good fortune to all holders.

[woodcutter] 22/12/2015 15:44

been slowly accumulating here before the spike up from 50p and just picked a few more for xmas.

woody