Intercede Share Discussion Threads

[pyman] 19/8/2014 10:35

"And, as we report a record year for the Company, it is the newer cyber security market that is increasingly providing larger opportunities for growth. The trends we are seeing here suggest the market is on the edge of potentially explosive growth: the traditional password becoming obsolete, the proliferation of mobile devices to conduct more and more daily lifestyle functions and the increasing number of business services being conducted online. All require highly sophisticated forms of trusted identity, the cornerstone of cyber security, and this is an area in which Intercede is a leading provider"

Getting the feeling IGP will start to motor towards the end of the year. Wondering once again if they will stay single ...

[looby loo] 06/8/2014 18:19

A bit more on the deal with Trustonic:

[looby loo] 06/8/2014 12:50

The collaboration with Trustonic, coming along very nicely with the potential for enormous IoT opportunity.



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5 August 2014Intercede Extends Strategic Cooperation with Trustonic to launch a MyID Trusted Application Management service.

Intercede combines MyID Identity Management platform with Trustonic trusted device technology to deliver fast, simple and secure trusted application deployment to mobile devices.

" ....... Richard Parris, CEO of Intercede commented: "By delivering a MyID TAM service we can offer more value to our existing mobile customers and open up a large new horizontal market to our technology. This solution has the potential to have a significant impact on Intercede's sales revenue. We are proud to be associated with Trustonic and are delighted that they have chosen to partner with Intercede. ......"

[pyman] 05/8/2014 10:32

John Smart, Head of EY's UK Fraud Investigation & Dispute Services (FIDS) practice, says: "The rest of the world is playing catch up with the UK in recognising cybercrime as a serious threat. High-profile cybercrime incidents and a number of government initiatives may have played an important role in ensuring high awareness of this issue amongst business leaders here in the UK." Smart goes on to warn: "The conversation now needs to move onto how businesses respond to these dangers. Awareness is just the beginning and business leaders need to ensure robust incident response strategies are in place. When a data breach does occur, many companies fail to investigate how and why an attack has taken place, which can leave networks compromised and exposed as the full extent of the breach is never uncovered.

[looby loo] 01/8/2014 12:24

29 July 2014
by Allen Storey





Protecting the next big industrial revolution: Securing the Internet of Things
Allen Storey, Product Director, Intercede

[looby loo] 13/7/2014 21:23

Nice interview with Richard Parris, though I wish he'd chosen a different IoT device than a fridge! The rest is a good read though.

" ...... What is your budget outlook going forward? Flat? Growing?

Always growing, never flat. Looking to invest in people and research to build the global leader in cyber security. Planning to grow beyond being classified as an SME before 2020 .... "

[looby loo] 13/7/2014 21:21

An amusing view on the Internet of Things by Intercede's Finncap Analyst, Andrew Darley. :-)

[looby loo] 28/6/2014 23:33

26 June 2014
by Richard Parris
My vision for the future of digital identity

[looby loo] 28/6/2014 23:30

25 June 2014
Windows Phone ready for business with MyID

Secure identity experts give organizations secure access on Windows Phone 8.1 with virtual smart cards

[looby loo] 06/6/2014 14:36

Thanks WJCC. Even famous investors say, they've lost the most money on the shares they sold too early. Seeing as we're mentioning disclosures .... Ah yes, "the 20p days". :-)

[wjccghcc] 06/6/2014 14:04

Thanks Looby. Still hold a big chunk from the 20p days so has been a ten bagger. Alas, I top sliced quite heavily in the 80-100p area. Having said that, I did hold 1% of the company which was way over my exposure limit and the investments the proceeds went into did very well (though not as well as if it had all stayed here!).

[pyman] 06/6/2014 12:36

agree Looby- came close too but trading a tight stock like this is hard. I keep checking the story and it keeps looking sound so i keep holding ...

[looby loo] 06/6/2014 12:14

Those who managed to get out at around the 220 – 240 top (after Intercede completed its 250,000 share buyback), thinking they could get back in again, lower down – are facing a bit of a dilemma!

Well done, if you managed to trade it and buy back in. I have to confess, I was tempted myself but didn't. I've always felt with Intercede; YOU CANNOT TRADE IT ! It's just one of those LTBH compamies to tuck away in the bottom drawer, 'til we get bought out by "someone like Google".

Welcome back WJCC. Great to have you back on board. :-)

[molatovkid] 06/6/2014 11:22

Hybrasil, out of interest, what alerted you to Intercede at the 40-50p range then?

Always keen to learn....

[q1w2e3r4t5] 05/6/2014 10:35

If they are stating 30% growth publicly, I suspect 40% per annum isn't an unrealistic private forecast. I can't recall seeing many companies with that sort of growth rate with a runway in excess of 5 years in a very long time. Companies with this sort of growth profile in the US outwith the pharma industry are rare. Demandware and Splunk are the only sorts of companies that I can find and thy are on >10x sales. Here we are at 6.4x. I can't see it running again until we have another couple of big orders as there has been a bit of a hiatus recently but nicely set up for another strong run later in the year/2015.

[felix99] 05/6/2014 09:50

time to buy back some Hybrasil. I took some profit at well over £2 but have been buying back recently on the pull back to get my stake back up again.

What others things are you onto as personally I am heavily cash still and cant find many other things I like at present. I can see this doubling on a consumer related security deal

[hybrasil] 05/6/2014 09:37

I agree as to the over value and sold out at £2.
Yes they may be a takeover target but I made 5x my money and am on to other things

[felix99] 05/6/2014 09:02

Its the profit margin and turnover Rivaldo. Its a gold mine for future revenue with little cost.

They are probably now where they need to be overheadwise so any additional sales from here are probably 90% profit margin.

A lot of the turnover is locked in repeat stuff for no selling cost just some R & D overhead I bet to keep client happy - which they will be doing anyway.

High barriers to entry - No firm like Lockheed or whoever is going to throw out their secure login mgt system in a hurry. Even if something better out there the cost and upheaval of changing would be huge and no IT VP is going to risk their job moving in case it goes belly up.

IGP - now established player so any new pitches for business they dont have to prove their credentials whereas in the past I bet that was biggest hurdle to any new sale.

Remember they are being prudent and writing off all R & D - that's £3m a year nearly. Plenty of software outfits would find a way to capitalise that and flatter profits.

So if you add back R & D that's nearly £4m they made in reality.

Going forward a lot of the revenue they have is repeat and any incremental sales is pure profit and more repeat revenue added to the pipeline each year.

As IGP say passwords are becoming more complex and to have your smartphone with secure ID for everything is where it is going and where IGP is at. It cant be long before they land a huge consumer related secure contract for someone - and then you wont see £3 for dust imho.

Happy holder - be interesting to see if they start buying back shares again too.

[wjccghcc] 05/6/2014 08:52

The PBT is moot at the moment given the significant investment they're making. With their gross margin, they could have been making PBT of 3mm if they'd kept the cost base flat which would have put them on a PE of 25 ex cash.

Revenues up 45% with a 30% p.a. target increase is more relevant at this stage of their development and more importantly the customer base, where it seems they are establishing a global market leading position.

If they're bought out by someone like google, they'll go for a lot more than 8x revenues.

[molatovkid] 05/6/2014 08:05

Potential counts every bit as much as the hard numbers with these tech stocks.....and this clearly has bags of it.

[rivaldo] 05/6/2014 07:53

An £81m m/cap for a £0.4m PBT and £9.8m revenues?

Congrats to those who held on (I sold a while ago). I know IGP is a good company, and it does have £7m cash - but how much upside can there be from a rating like this?

Anyway, no doubt it will soar upwards today :o))

[looby loo] 01/6/2014 14:38

The Internet of Things.
A little snippet on the IoT from the June issue of Techinvest:





And a couple of recent, relevant Intercede articles:

7 May 2014
Intercede delivers secure device identity for enterprise through MyID





4 May 2014
How can we trust the internet of things?
By Allen Storey, Intercede

[looby loo] 30/5/2014 09:40

28 May 2014
Intercede's managed MyID service hosted by Regency ITC approved for G-Cloud

[felix99] 27/5/2014 10:29

closed period I would think for buy backs and director purchases? They haven't put an irrevocable authority to buy so I guess they can't buy currently till results are out.