Idox Share Discussion Threads

[gargoyle2] 11/2/2022 11:10

Options granted to CEO and CFO, to vest 'ordinarily' over next 3 years, but only if the share price is at least 102p -- should give them some incentive, although would be nice to see them putting their own cash into some shares. Options would certainly come in handy for them if there's a takeover.

[tomps2] 28/1/2022 09:53

Here is the IDOX FY21 results presentation to analysts incl Q&A given 27.1.22.

[phillis] 27/1/2022 18:13

Fully valued
Not a high growth stock

[gargoyle2] 27/1/2022 13:43

Steady eddy results today, slight beat on EPS. Nice solid business imo. Just watched the results webinar. Strong management imo, and a good double act, just wish they would back up the 'value proposition' that they talk about in the webinar with some share buying of their own. Minimal shareholdings between the CEO and CFO, with no buying for well over 2 years.

[a9neu] 06/12/2021 12:01

After a long ride with IDOX and a 112% profit I finally decided to sell today. I do see a future and a possible rise but the level of maturity today is close to how I'd value the company based on good will. A small drop is on the horizon.!

[phillis] 07/10/2021 15:03

Read the last 2 RNSs on acquisitions
Show some enterprise

[trcml] 07/10/2021 14:22

What new division? Nothing obvious to me on Idox news page.

[phillis] 05/10/2021 11:27

building up an interesting new division

[gargoyle2] 09/8/2021 19:29

Some big trades after the bell.

[phillis] 09/8/2021 15:38

bit of a move this pm

[pugugly] 20/7/2021 17:37

Griffiths - Very wise and rich man - The fact that he has reduced holding to below notifiable level - whether or not he is still holding any stock - is (imo) a red flag.

He however does not walk on water -

[trcml] 20/7/2021 17:02

Exits or just gone covert?

[phillis] 20/7/2021 10:42

so Griffiths exits

[pugugly] 13/7/2021 12:10

Gargoyle2 - U were right - So probably best - that is if interested - to wait and see what happens - If goes the same way as HEIQ - initial write up in Feb then possibly more attractive prices later but if goes like Aution technology then jump in now - Whichever DYOR-- Sorry No Crystal Balls here.

[gargoyle2] 11/7/2021 23:59

IDOX one of the main write-ups in SCSW yesterday. May see some action tomorrow.

[strollingmolby] 08/7/2021 14:13

Still getting some coverage here - spotted this on Idox's LinkedIn page today, a Growth Company Investor piece following an interview with David Meaden. The full GCI article that is linked is behind a paywall but this text has been published by Idox:

Earlier this year, our CEO David Meaden sat down with
Growth Company Investor to talk about our business. The
article gives an insight into our public sector software
focused growth strategy, from the acquisition of Aligned
Assets to the changes we’ve been making in recent months
as well as an outlook on the future of our business.
This extract covers some of the highlights with the full piece
available to read here.

The business
Idox now has a strong, focused position in public sector software which accounts for over 80% of group revenue. The company’s products mainly address document process management and statutory compliance requirements for local authority clients and the NHS. Over 90% of UK local authorities take one or more products which fit into seven categories. Property-related software includes planning consent, building control, land charges, and address management. In public protection, Idox software supports environmental health, licensing and trading standards. There are tools to support the delivery of social care and disability services, grant and funding programmes, facilities management, traffic management, and electoral services.

Management and finances
A key element of the story concerns the recent changes in management and strategy.
CEO David Meaden joined the company in June 2018 after a long career at Northgate
Information Solutions and set about restructuring a business that had lost its way. Idox had grown by making acquisitions that had not been integrated, so there was no value created from them being in the same group structure. It meant the business was overly complicated and some of the deals had not gone well. Meaden identified Idox’s core strength as its public sector expertise and its ability to solve these clients’ problems through software products. Given the commonality of the client base, this software can be sold to many customers with minimal customisation. So the strategy has been to simplify, dispose of the peripheral digital and content businesses, and focus on software provision.

Valuation and outlook
We were impressed with David Meaden and the restructuring element of the Idox story
when we spoke to him in February. Our intention was to write the stock up as a new
recommendation that month, only for the aborted bid to send the stock above a sensible buying range. The shares were trading in the mid-50s pre-bid and are now in the mid-60s; so the valuation has risen but does not look too demanding for a software business with improving operational trends and a clear growth strategy. We also like companies that have received a bid – if it happens once it can happen again.

Acquisitions form an important part of the story, but management appears to have put the right structure in place to integrate these and they should be coherent bolt-on deals which have a clear fit with the business. Meaden talks of the SaaS ‘rule of 40’ which defines successful companies as those with a growth rate plus ebitda margin of 40 or above. With a 5% growth rate (plus bolt-ons acquired for cash) and an ebitda margin now moving into the 35% area, Idox looks well placed.

[gargoyle2] 05/7/2021 15:05

IDOX's latest results webinar available here:

[strollingmolby] 05/7/2021 14:49

Another govt agency on the books...

[tiscalynn] 30/6/2021 14:00

Idox have had a presence in India for many years. I recently retired from the company as a Software QA Manager and used their resources for around 3 years until QA for the product I was involved moved to N. Macedonia.

[trcml] 28/6/2021 10:36

and/or this? idox have set up in India )I didn't know that) and are recruiting for personnel. I am thinking that the company's revenue slow growth could well accelerate with the next couple of years. resume the previous management's target of £100M but without the previous irrelevant acquisitions.

[trcml] 25/6/2021 12:47

this maybe? "Idox Group teams up with HM Land Registry on national Local Land Charges Register

Software company Idox has teamed up with HM Land Registry (HMLR) to support the rollout of the national Local Land Charges (LLC) Register. Last December, HMLR announced its ambition to complete the transfer of all local authority LLC data in England and Wales to the register by 2025.

The project, which is central to HMLRs ambition to become the world’s leading land registry, gives property buyers a quicker, simpler and more cost-effective service. Through our Application Programming Interface (API) integration services and Data Extraction (DE) we will connect local authorities to the register.

Allison Bradbury, Head of Local Land Charges Implementation at HMLR said:

“We are pleased Idox are working with us to deliver a solution that allows local authorities to transfer their data to the LLC Register, while complying with stringent data controls. Their experience of large data infrastructure projects and the public sector means they understand our national goal and local authority requirements.”

The new system will also enable data extracts to pass to HMLR for data quality assessments, data manipulation and change-only updates when a local authority goes live. This will make it easier for property developers, legal professionals, local authorities and others who rely on land registry searches to deliver projects.

Idox has already delivered these services to 23 local authorities and is now progressing rollout to a further 83 local authorities, with completion scheduled by December 2021. The Idox team are also working closely with HMLR to scale the implementation, so more authorities can be enabled in a shorter timescale."

[trcml] 23/6/2021 17:41

Anyone know why the share price is going up?

[trcml] 20/5/2021 11:13

Encouraging update. Results 15 june 2021