Intercede Share Discussion Threads

[earwacks] 01/3/2022 21:19

Great Robsy thanks for that. The last time I had a communication with Klaas he said that they they were heading in the right direction as planned with 9% growth. He did say he had no plans to go to their new office in Amsterdam till the omicron situation had died down. Clearly the plan was to expand operations in Europe and Asia, to repeat their American success. Guess that may have been delayed a bit, but hoping to hear news soon, although he did say the next update wouldn't be until June. No acquisition news either
I suppose we are victim of the tech fall back.GL all

[robsy2] 01/3/2022 19:28

Today I saw an updated profit forecast for year end 03.23 of 2.2m GBP (03.22 1.5m).
don't know any more than that but it sounds positive.

[robsy2] 01/3/2022 19:00

from early last month.
INTERCEDE (IGP): CORP US Federal Agency contract win Intercede has announced a contract win with a prestigious independent US Federal Agency. The $0.5m purchase order, to deploy an initial 20,000 digital identities in the PIV-compliant format in line with US government security standards, has the potential to roll out to substantially more devices over time. The high-profile contract was won in a competitive bid process and displaces an existing solution, leveraging Intercede’s technology partnership with Microsoft to deploy the PKI credentials into Microsoft Intune managed smartphones. Forecasts are unchanged, de-risking forecasts for the year to March 2022, and we look forward to further newsflow as the group continues to prove that the drive to extending the TAM does not overlook that the core technology remains a global leader in its established field. Target price 125p reiterated, with valuation metrics at the current price showing significant upside potential on every metric, for a global leader in identity and credentials management software serving the most demanding and secure of environments.

[boonkoh] 26/2/2022 08:44

FT article today that there's now increased interest in cyber security, after the prominent role of cyber warfare in the Ukraine invasion. Good for Intercede? Especially if more govt departments worldwide decide its now time to upgrade their ID security? Companies rush to build cyber defences in Ukraine-Russia conflict - https://on.ft.com/3IpYt0i via @FT

[robsy2] 02/2/2022 07:21

Just as well they did land this contract since it is already included in the figures up til the end of next month.

[pyman] 26/1/2022 23:15

Yup. Need some good old sales contracts announced. Weekly would be ideal

[earwacks] 22/1/2022 15:55

Quite extraordinary what happens with no news. Edmund Shing from Paris-Bas was investing here last year and recently was extolling the virtues of cyber security being one of the better areas of technology to be in. The company is in a far stronger financial position than the last time the share price was below 70p. Lions Trust might be ruing their move in here in the autumn.A strong reiteration of target from Fincap too at last update. I would be buying more but its just suspicious when a share price is so at odds with the business. I guess its all about patience

[pyman] 16/12/2021 15:49

yup... are we seeing ex ceo dump more shares? wish mr P would sell block to institutions if the case....

[zipstuck] 16/12/2021 12:00

I take it as a positive that the CFO converted options and retained 200000 shares after paying tax laibilities. If he thought the price would drift lower then he would have saved a bundle. Clearly keen on the prospects.

[ianhamo] 15/12/2021 13:47

I don't know about a M&A pipeline, I think we are starting to look like an acquisition target.Our PKI product is supposedly best in class, but it seems no-one wants it!We need a in-house sales team to drum up some sizeable sales IMHO.

[thomas11] 27/11/2021 15:15

I thought the presentation was interesting from a technical note but vague on specifics going forward. The growth rate is currently low, even after a few years of focus, I suspect the growth rate for the key PKI business is limited and a maximum of 12% - 15% is achievable. With the move to FIDO they may extend growth rate up and an acquisition may further accelerate things.

Until we see some FIDO numbers this share remains a risk imho, the share price rise has clearly been on the back of the turnaround story but from here it’s about growth to justify the PE and mkt cap.

Hopefully we get some FIDO numbers in June to see where this is going.

[pyman] 26/11/2021 11:51

agreed- acquisitions are usually bad news . Product is good - sell it! try fidelity - they are busy looking at new access and control ..... but not at IGP ... where's the salesman?

[robsy2] 25/11/2021 19:41

The presentation seemed a bit vague to me. The technical side is complex , and well beyond me but i thought they could explain more clearly what the USP is and how the channel sales are going to drive growth. I am also unsure about an acquisition. In the feedback I suggested they spend the 8 million cash on driving the existing business fwd rather than buying another business… bit arrogant perhaps because maybe they have a killer plan. I’ll stick around and see how it pans out.

[earwacks] 25/11/2021 18:20

Thats interesting Robsy. I thought it was one of the better presentations I've witnessed on Meet the Company. Three key personnel spending a whole hour trying to explain a fairly complex security system and what sets it apart from competitors. I agree the most perplexing thing is how on earth do they have the top grade clients in the world and revenue of just under 11 million. A lot of very useful points were made and there was quite a lot to take in. Not least the uniqueness of the top product. I think you would be wise to hang in to see how this 'accelerated growth' develops through the new partnerships. Possibly one reservation would be why and how how could an acquisition improve the underlying work they have already done? They already appear to be in pole position. We need to see revenue doubling or trebling not going up 9%.

[robsy2] 25/11/2021 17:30

I was slightly underwealmed by the company presentation. I'm fairly patient so I'll give them a few years to see if they can deliver a step change in turnover and profitability.

[earwacks] 23/11/2021 18:39

Hi Robsy. Not sure. whether the share price is demanding. The PE is about half what it has been. Meet the Company presentation on Thursday. Basically these results simply confirm the update with more detail on potential. Covid rise is obviously undermining the market across the board at the moment

[robsy2] 23/11/2021 13:16

I am new here. Right now the valuation is demanding, i suppose there is an expectation that they can break out from where they are now. The CEO saved this business then sharpened it right up and has outlined a way forwards and implemented on that. If his strategy and suite of products are relevant then we are all going to do well. The 8 new clients ( a record) is very encouraging, the 99% margins and clean accounting also.

[earwacks] 23/11/2021 10:11

I think we can say this has been a year of consolidation and the end of phase 1 in the turnaround.
'Phase 2 of the Intercede turnaround plan is underway to push
scalability and accelerate revenue growth. The Company is building an M&A
pipeline to expand its footprint across the authentication pyramid and to
address adjacent market segments.'
Cybersecurity is only going to increase in importance for the security and integrity of companies. They quoted two horrendous cases of serious breaches last year. Its not just the cost of disruption, but the theft of customer information and the fines on top of business loss. Seems extraordinary that well known businesses can be so lax and not realise that cybersecurity is ultimately cost effective apart from all the hassle and dented reputations. IGP must now get out and get that business and farewell placed to do so. Look forward to 'accelerating growth this year.'

[pyman] 16/11/2021 08:57

Tricky has been selling

[robsy2] 13/11/2021 14:20

Good work earwacks and thanks for sharing.

[earwacks] 13/11/2021 13:34

Have had a couple of emails with the company. Firstly about the results and the subsequent fall. They are pleased in the direction the company is heading and the results indicate that direction. pointed out the turnaround from being heavily loss making to being debt free and cash generative. They blame the general malaise in sentiment in aim stock for the sell off. They are not in competition with Darktrace. Their products are more niche and unique. Lion trust have indeed been buying and now over 5%. Interesting any company with above 3% holding has to notify the market for every 1% threshold crossed up or down. I did ask if revenue was weighted to second half, but they declined to comment. A lot of companies do comment on that specific question but I respect their caution and they pointed to the 9% increase as evidence of the direction the company is heading. I'm satisfied and have more than doubled my holding in the recent sell off. Gl holders

[somerset lad] 11/11/2021 17:49

Not clear if it is from zero (despite the blank boxes on the notification) as Liontrust Asset Management had 3.8% on 10 August 2021 (see hxxps://www.intercede.com/company/investor-relations/investor-info/major-shareholders-page/).

[robsy2] 11/11/2021 17:16

That is a substantial holding up from zero. I wonder who the seller was.

[ianhamo] 11/11/2021 16:32

https://www.londonstockexchange.com/news-article/IGP/holding-s-in-company/15209362