Intercede Share Discussion Threads

[zipstuck] 25/11/2019 08:30

What is interesting here is that they managed an operating profit on half year sales with normal second half weighing. Downside very limited. Good upside potental

[itsnotmeitsy0u] 25/11/2019 07:41

decent update

[pyman] 15/10/2019 18:07

There must be some development ? i know control has been necessary but so is growth and innovation in this business. Been away for a while - is there really nothing coming soon in product launch ?

[zipstuck] 07/10/2019 11:10

An attractive customer base for a predator

[somerset lad] 07/10/2019 09:22

FWIW I think the revenue growth is quite good for two reasons. First, at the end of 2018/19 IGP won a large contract that led the outcome for the year to be ahead. The risk was that the trading ahead pulled forward revenues that would otherwise have been booked in this period -- but the update confirms that's not so. Secondly, if you look beyond the one year comparator the trend is good: £2.83m in H1 16, £3.65m in H1 17, £4.17m in H1 18 and £4.4m in H1 19.

Responding to Jailbird, IMO the potential revenue growth lies in selling a product that meets the standards of the most demanding customers in the world to customers like investment banks, accountants and law firms through a partner network.

[jailbird] 07/10/2019 08:48

Cash looking better

Revenues are not really increasing much..there is no new product development I can see that will propel revenues..IOT and TAM have been canned by new Management as too cost intensive

[zipstuck] 07/10/2019 08:46

Well it looks as if the recent director share purchase was based on some knowledge of as strong end to the half and may indicate that is going to continue. I don't think he's risked his money.

I take this as a sign there is more to come.

[somerset lad] 01/10/2019 09:35

FWIW, I guess that an insti decided to exit and approached the company to see if it knew of any potential buyers; and Mr Tredoux had £500k to hand and concluded that the shares were good value at 30p, even at the "price" of running a very concentrated portfolio.

I'm not expecting him to make a bid.

I'm also not sure we can infer what the half year trading update will say: whether Mr Tredoux could lawfully trade depends on whether he held any inside information; and if the company had not circulated trading information to him at the point the share purchase was agreed, he was free to buy whether trading is ahead, behind or in line.

But I do see his willingness to invest further large sums of money as bullish (and more than counteracting the wish of an insti to exit, which could be due to some profound insight into the future of the market, but might equally be the result of a change in manager, a need to meet redemptions or to free up cash etc etc).

[omiceanmen] 01/10/2019 09:10

I see director Jacques Tredoux has been buying more stock, 1.668m yesterday to be precise. Quite an investment. He's now at 29.7%. If he trips over 30% he'll need to bid for the whole company. Wondering if he wants to take IGP private while the price is depressed or just take control to sell the business. Could be helpful for the share price

I guess this means the trading update due next week must be within expectations otherwise he'd be inside and couldn't trade.

What do we know about Mr Tredoux? He's pretty invisible on the web. Does he have deep pockets? What's his reputation for doing deals? He's been on the Board for 13 years.Be interesting to crowdsource some background to this BB to crystal ball his intentions don't you think?

[tiswas] 19/9/2019 17:27

Trading statement was 4/10 last year with agm 18/9

[davidosh] 19/9/2019 15:43

Maybe some were expecting a trading update...

[tiswas] 19/9/2019 14:17

Everyone selling today, what happened at the agm?

[somerset lad] 18/9/2019 09:27

If anyone on the board is attending today and is willing to ask, I'd be very interested in progress with the sale of standard products by third party resellers (MyIDaaS). Is the product shipping? How many third parties are selling it? What's a typical sale value? What is a typical commission payable by IGP for the sale? If IGP can get this product selling in volume to investment banks, accounting firms, law firms etc. who hold lots of market sensitive information and keep being compromised, then it (IMO) has the potential to increase earnings and improve their quality.

[omiceanmen] 18/9/2019 09:00

In that case bakedbean the sales director has (1) been fired and is on gardening leave or (2)the sales function has been demoted off the top team or (3) the Co has screwed up the website.

Lets see if we get a sales update at the AGM today. Can anyone attending please ask about this.

[bakedbean5] 16/9/2019 17:25

Still @ IGP according to linkedin

[omiceanmen] 15/9/2019 09:11

Very quiet on this Board. Is no one invested in this company anymore?

It's the IGP AGM on Wednesday this week. Is anyone planning to attend? It would be good to get a report of the meeting posted here.

I have a question I would like asking of the Board.

The IGP website no longer lists the Chief Sales Officer, Jean Dignard, on the Leadership Team yet he is called out in the Annual Report and Prelims as a key appointment. Does this mean his employment has been terminated? If so, what does this say about sales prospects? Salespeople usually leave when they know they can't make their numbers or get fired for similar reasons. Investors need to know.

[somerset lad] 10/7/2019 09:03

IGP blog post on the BA data breach fine: www.intercede.com/british-airways-highlights-183-million-reasons-why-cyber-security-and-strong-multi-factor-authentication-needs-to-be-a-c-suite-priority/

[bradbury3559] 05/6/2019 10:58

Come join the party #BBSN

[devonwood] 05/6/2019 10:37

With the Intel deal and at this price they will be acquired by the end of the year by a PE who can inject the cash needed to build a larger sales and marketing organisation and move to a Security as a Service business. A Raytheon might also look to acquire

[the big fella] 05/6/2019 09:33

A solid set of results and an excellent turnaround. I really liked the focus demonstrated in the outlook statement. However at £20 mkt cap they need to be generating 1.5 net profit to justify it. I reckon they could perhaps do that this year or better but I feel the share price is up with events. The chart looks bullish though and it would surprise me to see these at 60p before the summer is out.
I have held in the past but should have bought in the low 20's as the easy money has now been made.

[somerset lad] 05/6/2019 08:11

The paragraph about Intel is interesting:

"The establishment and further development of these and other partner relationships is critical for the Group's future growth prospects. MyID is a Credential Management System (CMS) which typically forms part of a wider identity ecosystem and therefore must be futureproofed to work with the devices and technology our customers want to use. We were therefore pleased to recently announce the launch of our new derived credential solution in collaboration with Intel. This solution enables the issuance of PKI-based digital identities to a user's Intel Authenticate-enabled tablet or notebook PC, following NIST security guidelines. The user can then access networks and systems using hardware protected multi-factor authentication. This is not only secure but also provides a better user experience as the user can use a fingerprint or a face match in place of a PIN."

[somerset lad] 05/6/2019 07:52

The potential growth story is: if IGP can consistently sell to the most security-conscious customers in the world, why can’t it extend those sales (via an out of the box product sold by the numerous resellers) to banks, accountants, law firms and others with security concerns?

[jailbird] 05/6/2019 07:23

BoD have performed well to bring back to profit this year .. just wondering where bigger revenues will come from now . Seems it will chug along like this.Looks like IOT has been shelved for now , eating up costs , reduced staff costs .. back to basics Some of our product development in recent years has attempted to expand MyID into new markets, including secure cloud services and the Internet of Things (IoT). This could have resulted in explosive growth for Intercede, but these are very competitive markets in which the end consumer is currently struggling to differentiate strong 2-factor authentication from biometric security or SMS one-time passwords. The option of trying to use marketing to educate the market was considered to be expensive and unlikely to deliver satisfactory shareholder value.

[daburd] 22/5/2019 11:50

Thanks Somerset lad. Here's hoping it breaks the resistance at 42.5p...

[somerset lad] 22/5/2019 11:39

Whoever was selling hard into every buy has now stopped. It's possible the seller was RP, who might have been disgruntled about his departure and Jane's, although if that's right, he should have told the Co Sec so they could RNS the change in his interest.

New management have reached (roughly) break even a year ahead of plans. Now the question is whether they're going to settle down into making small profits by supplying mainly US Governmental and defence customers on large lumpy contracts; or whether they can leverage the fact that they meet the requirements of the world's most demanding security customers to sell (through partners or directly) an out of the box product to banks, accountants, law firms etc. around the world at very high gross margins.

Perhaps the buyers who've led the share price to retrench from the lows it reached when there was a seller at any price think IGP can achieve the latter in a meaningful way.