Share Name Share Symbol Market Type Share ISIN Share Description
Pelatro Plc LSE:PTRO London Ordinary Share GB00BYXH8F66 ORD 2.5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 5.75 5.50 6.00 5.75 5.75 5.75 74,831 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Software & Computer Services 7.3 -0.7 -2.1 - 3

Pelatro Share Discussion Threads

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'revenue visibility for 2022 stands at around $8 million.'

projected revenue for this year is £9 million.

Hopefully PTRO can now beat this figure.

Good news here
INSP shares jump soon
Excellent $1m contract win (over 3 years), importantly with a new telco group customer and in a new market (the Middle East), for this £10m microcap.

And it sounds like there's potentially a lot more to come from this customer:


"Contract Win

Pelatro Plc (AIM: PTRO), the enterprise Customer Engagement Hub software specialist, is pleased to announce that it has been selected by a Middle East telco (part of a wider international group) to provide its mViva Campaign Management and Loyalty Management Solutions. The initial value of the license contract is around $1 million (payable over 3 years). With this win, revenue visibility for 2022 stands at around $8 million.

Subash Menon, Managing Director and CEO commented, " This win marks the entry of Pelatro into a new telco group with operations in multiple countries. We are confident of leveraging this win to expand within this group in the coming years. Further, this is the first win for us in the Middle East and will help us spread in that lucrative market."

Had some more today @ 21p as early hints of a turn evident imo
Seems like a large holder is reducing in a hurry with chunky trades being reported at below prevailing Bid prices. I've started to gradually accumulate an increased holding.

Roll on September for the Interims and possibly a H1 trading update before then.

An encouraging AGM statement today, with optimism that full year trading will be in line (it's too early to be saying "ahead").

In particular, ARR is up from $4.8m at the year end to $6.8m now, along with the number of customers rising to 25 and non-telco prospects looking bright.

It seems that this company is at last on the right path.

Last week a significant contract win, this week a transformational contract win.
That's the sort of momentum we like :)

Next week is the AGM (Monday) so they have an opportunity to put out a trading update, unless it's deemed too soon after the recent results.

Potentially huge news today - mViva to be provided on a Proof of Concept basis to a new "large global telco" customer, with $4m per annum of recurring revenue on full rollout assuming it moves forward.

Transformational if so, and presumably likely to go ahead after the 6 month trial based on past experience (and the fact that PTRO are publicising it)....


Again from Mr Evil.

baronet bill
This may be a Reach RNS today, but as PTRO say, it's certainly "significant".

A $1.5m win securing income - initially - for 3 years, and a first customer outside the telcos, in the highly rewarding fintech space. With "a number (of others) now having expressed interest in our product".

Excellent news:


Just caught up with the Investor Meet presentation.

Good summary by gleach23 above. Also interesting to hear that PTRO expect to gain 5 or 6 new telco customers this year (against the 3 last year) and are already in the contracting stage with 3 of them. I assume this week's announcement is the first of those.

A small but encouraging contract win announcement, as this is a new customer, and in the African market too.

Interesting comment also from Subesh re new customers:

"we are confident of adding several more in the year"


Although no research as yet, he did say that Cenkos, the former nomad and broker, has $9m for current year and that he thought the company would beat that. Also on target for 5 or 6 new clients with 3 in contract stage. That really augers well for next year as well.
Very reassured after watching the IMC presentation with Subash Menon his usual bullish self but with apparent justification imo. Such a better platform than Proactive.

The share price appears to have suffered since last Nov from a dearth of news, primarily a lack of contract win announcements (Covid inhibited) and the extended wait for results which caused the share price to drift so much.

As he says this is such a better quality outfit since 2017 when it floated. The share price can move fast and I'm expecting positive momentum to build throughout the remainder of this year on the back of imminent contract wins in the existing telco space and an initial win or 2 in mobile advertising. This on the back of revenue projections heavily underpinned by the successful switch to the SAAS model and a switch of broker from Cenkos to finnCap.

Here's ST's full tip for the record (excuse the formatting!):

"Tapping into Software-as-a-ServiceA company that makes its money by providing telecom operators with precision marketingsoftware has delivered a step change in revenue and profitability

May 23, 2022 By Simon Thompson

Annual cash profit rises sixfold to$2.8mn (£2.2mn) to deliver small adjusted pre-tax profit on 80 per cent higher revenue of $7.2mn
Annual recurring revenue and repeat income account for 92 per cent of total, compared with 80 per cent in 2020
New business pipeline worth $17mn

Aim-traded Pelatro (PTRO:22.75p), a company that makes its money by providing 23 large telecoms operators with precision marketing software, delivered a step change in profitability last year. Cash profit ros emore than sixfold to $2.8mn (before accounting for non-cash depreciation,share-based payments and amortisation charges) as the operational leverage of thebusiness kicked in on an increasing recurring revenue stream.

Pelatro uses 'big data' analytics (artificialintelligence, machine learning and otheranalytical techniques) to reveal patterns,trends, associations and behavioural traitsof telecom subscribers. These insightsenable mobile telecom operators tomonetise their data, boost average revenueper user and their share of subscriberspend, while also reducing churn rates. It’sproving popular. The group added threenew clients to its customer base last yearand now processes data of over 1bn telecom subscribers every day.

However, the real game changer has been transitioning large Asian telecom operators to long-term managed service contracts that produce an annual recurring revenue(ARR) stream and a high level of repeatbusiness. To put this into perspective,Pelatro’s ARR of $4.8mn accounted for two-thirds of last year’s total revenue of $7.2mn,and that excludes $2mn of change requests,effectively repeat revenue earned from clients as products evolve. The group started 2022 with ARR of $6mn, or fourtimes higher than at the start of 2019.Furthermore, the addition of three new customers has reduced concentration risk,with only two clients now accounting formore than 10 per cent of revenue.

The directors are also leveraging Pelatro'sposition in 'big data' analytics by entering the mobile advertising space, a market thatis projected to double in size to $221bn by 2024. Expect the first customer to be signedthis year, adding another potentiallyvaluable revenue stream.

Importantly, gross cash of $3.3mn(excluding borrowings of $0.75mn) has been buoyed by $1.9mn received from debtors since the financial year-end, whilethe strength of the order book is such that ARR is expected to account for 80 per cent of the $9mn revenue forecast this year, saysmanaging director Subash Menon. New house broker finnCap has yet to initiate coverage, but the business is clearly generating strong momentum.

This explains why Pelatro’s share price bounced 21 per cent post results, having been de-rated since the half-year results(‘Dial into a lowly rated tech play’, 28September 2021). However, even if theshare price doubles from this point, Pelatrowould still be undervalued as its enterprise valuation is only 1.1 times forecast revenuefor 2022 and a miserly 3.7 times historic cash profit, respective discounts of 66 percent and 74 per cent to finnCap’s Tech 40 Spec Software index. Buy."

35p next stop?
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.
Positive write-up by Simon Thompson last night explains the strong start this morning.
^ I'm not reading another proposed equity placing, only mentions of last year's placing.
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 ?

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.

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.

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.

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