Meanwhile the CFO's options don't fully vest unless the share price triples. Shows what the board think the company is worth. 6x ARR would be a very reasonable valuation to expect in a takeover. |
Agree, its nothing company specific at all.
Mr Market is risk off at the moment stemming from all the nonsense in the US and fears that tariffs will cause a recession. And if investors are in risk-off mode, small caps will always get hit.
Lots of my positions are down over the last month or so as a result. Little you can do - as long as they're trading well, as PCIP are, thats the main thing |
Nothing in particular caused it. It's just UK small cap for you. There's a permanent selling pressure due to constant outflows and few new buyers. Just a waiting game until the stocks you own get acquired. |
Anyone see the investor meet? Unfortunately I just missed it. Company presentation can be found here (vid will upload later)
hxxps://www.investormeetcompany.com/meeting/review-of-interim-results-and-prospects-15/presentation.pdf
Cant really understand what has caused the 20% slump over the last few weeks, I've had a few like it - its been a very tough time for several of my holdings |
Yes. ECK was bought at 4x sales I think and PCIP is growing much faster than them. |
Looks positive; certainly no negatives in there.
Valuations is around 2.4x Jun-25 ARR or perhaps 2x TACV. Given they're now profitable and still growing nicely, that is far too cheap |
Record ACV in 1st 6 months of £1.9m increasing to £2.7 at end of Feb |
"This is an exciting time for PCI Pal as we continue to evolve our plans to best capitalise on the opportunity in front of us. Given the progress being seen in the business, supported by our strong sales pipeline, we are confident in the outlook of the Group as we continue to deliver against our objectives." |
Results tomorrow. 5% drop today and 17% drop over the last month doesn't scream a lot of confidence. Lets hope their bright start hasn't faded. We already know roughly what the figures will be, key part will be the current trading and outlook. This lot haven't communicated particularly well the in the past, so cautious optimism would be great. |
I assume that ACV figure is based on the auditors new interpretation too, whereas the ohers ones were based on the previous interpretation, so its actually even more impressive.
They need to get CAV to apply some more common sense to their forecasts though, esp for FY26.
The company are growing (10 open roles on their website) but if thore FY26 forecasts are right then PCIP would need to add a huge number of people |
Really good to see the new ACV number. For reference, the last few H1 figures have been:
1H21 - £1.8m
1H22 - £1.8m
1H23 - £1.5m
1H24 - £1.6m
1H25 - £1.9m
Back to the highs following a couple years of bad macro for software in general. Very encouraging. |
Great progress in the first half. |
It hasn't been this high since april 2022 so we could have a serious breakout on our hands. |
ah ok. Volumes still quite low - £35k traded today - but nice to see price moving up regardless |
I didn't mean a stake being built. Just that someone has caught wind of it. |
Has this been tipped somewhere? There seems a number of small buys today.
With regards tips, SCSW gives its New Year Naps this weekend. Fingers crossed they list PCIP as one of the companies recommended. |
Not a chartist but would be nice for the price to get beyond the Feb 21 and April 2022 levels in the mid 70s |
No acquirors stake build ahead of offers.
The company is simply very cheap and the combination of growth, move to profitability, net cash and the litigation nonsense being settled is putting this on the radar of more people |
I know we've been here before, but at what point do we have to start wondering if a bid is imminent... |
Good to see a bit of momentum here.
VOX Markets uploaded an interview with a fund manager at Octopus today where they discussed PCI-Pal around 17 minutes in. Nothing new, but a useful restatement of the obvious value.
Octopus owns about 8% of PCIP according to Bloomberg. |
Anyone attend the AGM and have any notes to share? |
All looking good on the path to increasing revenue and cashflow. |
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