Pelatro Share Discussion Threads

[mfhmfh] 24/5/2022 12:24

35p next stop?

[bookbroker] 24/5/2022 08:18

He’s been writing about this ages, no sooner has the heat died down it just plummets. I anticipate another funding round to pay the director’s salaries.

[gleach23] 24/5/2022 08:15

Positive write-up by Simon Thompson last night explains the strong start this morning.

[cordwainer] 24/5/2022 07:39

^ I'm not reading another proposed equity placing, only mentions of last year's placing.

[sl71] 24/5/2022 07:29

Another net loss
negative return on capital
another $4m equity raising : approx 30% of £10m market cap : more dilution
pedestrian growth in customer numbers
share price performance atrocious
£135k bonuses paid to exec directors
What is the point of this company if it isn’t making its shareholders richer ?

[boadicea] 23/5/2022 11:50

A somewhat mixed bag but the trend looks mildly promising.
The successive half-year revenue figues from 1H2019 onwards (6 half years) in $m are
2.71 / 3.96 / 2.29 / 1.73 / 3.45 / 3.84 .
This shows a strong recovery in 1H2021 which has flattened somewhat in 2H but is complicated by the welcome increase in APR figure. However there seems to be some difficulty in debt collection with an implied $m2.08 still (today) outstanding from Dec 2021 if I interpret correctly. The current global cost squeeze will not make this any easier.

The historic Price to Revenue ratio at 22p is about 1.7 (advfn appear to have taken revenue figure as sterling instead of dollar) which is modest for the sector and should leave room for highly geared earnings upgrades if growth (and debt collection!) can be maintained and if overheads remain under control.

Too many if's there for making a big splash on this one but well worth watching.

[rivaldo] 23/5/2022 08:55

Good to see an uptick in the share price after today 2021 prelims. The quality of the core business looks to be steadily improving in overall terms with ARR rising nicely, as is the number of clients, with the group currently trading in line with expectations this year.

But PTRO made an almost £900k operating loss in the last H2 after achieving £400k operating profit in H1'21.

The main reason for this is Amortisation and Depreciation which rose to £2m in H2 from £1.2m in H1.

Adjusted EBITDA fell to around £1.2m in H2 from £1.6m in H1.

Wages and salaries rose to £2.9m from £1.8m the prior year, with employee numbers rising to 235 from 166. Directors' emoluments rose to £782k from £675k.

So PTRO are certainly gearing up.

I'm mildly encouraged about progress here, but there are factors which make it too early for me to top up at present.

[cordwainer] 22/4/2022 14:59

Results were expected late march / early april according to last update.
Will hopefully confirm maiden annual profitability under completed recurring revenue model, plus new contracts as already announced since interims (which also showed a profit).
Late results could be indicative of a further contract win?

With a book cost of 3.5% of my portfolio, I'm showing a paper loss of 50% on this holding. But it's hard to imagine further downside given the valuation and without some specific black swan.

[mikeh30] 12/3/2022 19:11

These guys still buying luxury cars with shareholder funds?

[rivaldo] 25/1/2022 09:04

The good news is no more adverse surprises. Trading is in line and ARR is going in the right direction (slowly) - up 11% in the year to $6m. And new customers are being won, with this number up 3 to 22.

Cenkos have left their 2022 forecasts unchanged at present, presumably to update after the prelims.

Pretty uninspiring in terms of share price catalysts for the moment. The core business is looking OK, and the m/cap is now just £12.3m, but I'm unlikely to add to my relatively small holding without more contract wins and a sense that things really have turned for the better.

Cenkos summarise:

"Pelatro has won three new customers during FY21, taking it to a total of 22 telecoms customers, including Telenor, Vodafone, Axiata, and Ooredoo across 17 countries, processing data of more than 1 billion subscribers. The product portfolio including the mViva contextual campaign management solution, mViva loyalty management solution, mViva data monetisation platform, and mViva customer data platform, all aimed at driving underlying mobile subscriber engagement, retaining customers and generating incremental ARPU for telecom operator customers."

[gleach23] 25/1/2022 08:22

Yes rossco not much to chew on although it's fairly consistent with info provided in previous trading updates. However previous updates did often provide an accompanying contract win which I was hoping for. Not much growth in the numbers - need to start converting some of that pipeline in the much heralded mobile advertising space.

[rossco] 25/1/2022 07:43

Very little in the way of numbers this morning.

[gleach23] 24/1/2022 08:53

Expecting a year end trading update this week and been nibbling at this level.

Market seems not to trust PTRO but hoping the numbers do the talking.

[p1nkfish] 22/1/2022 12:24

ST very quiet on this. What's next?

[p1nkfish] 14/1/2022 07:21

Get through 37.5p and looks like could run towaards 42p?
About 20% run?

[bookbroker] 17/12/2021 13:03

Absolute shocker here, I still management are guilty of raising cash just to pay their wages, not for investing in the business, total set of bandits in charge here.

[bookbroker] 08/12/2021 15:56

A company that the market has a distrust off, offshore and out of touch with investors!

[gleach23] 08/12/2021 15:13

I did the same earlier jbarcroftr. Just listened back to the Investor Meet Company presentation and along with the increasingly high proportion of ARR they are also operationally cash positive with no need for a fresh raise unless an acquisition opportunity arises.

[jbarcroftr] 08/12/2021 11:46

Just averaged down
Probably foolish but seems unduly depressed
Management must consider taking it private

[daz] 22/11/2021 13:21

A significant contract win has been announced this morning.

The exact length of the contract isn't stated but if it were for 4 years that would mean annual revenue of $250,000, which makes a useful dent in the revenue growth needed to make next years forecast

[cordwainer] 22/11/2021 13:20

Forward p/e is approx. 15.7 based on today's buying price and expected revenues and assuming the same margin as H1. I guess recent contract wins should also put FY2022 current expectations at approx $7.8m up from $7.2m expected for FY21 assuming customer retention and similar amount of change request work.

Expectations for FY21 grew steadily from about $6m to $7.2m through the year, so investors might consider some further growth expectations for FY22, say between $8m and $9m revenue. The analyst forecast I can see on Simply Wall St for FY22 is $8m but that was last updated in June.

Although the p/e seems low for a software company I guess that's because individual contract wins into the global telco market are relatively uncertain and significant and create 'lumpy' range of expectations. However, I'm starting to feel more confident that the risk is to the upside here.

[cordwainer] 12/10/2021 13:25

I held and traded a bit since July 2019 and carrying a 15% paper loss as of this moment. The pace of sales and new contracts has been mortifyingly slow imho.

Maybe the telco market is just slow and lumbering in general. Glimmer of hope from the interims ..

"..we have engaged with one corporate in the financial services sector and hope to provide our software to analyse its proprietary data. We expect to see further progress with non telco customers in the coming months and look to the future with confidence."

Hope it doesn't just develop into an excuse for another heavily discounted placing though.

[daz] 05/10/2021 11:19

After listening to the IMC presentation, I have reservations that the CEO is involved in 2 companies. While he says that there is no conflict of interest currently, that could change in the future.
However the company trades on about 5.2 times the expected recurring revenue this year, which looks good value