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PBEE Pensionbee Group Plc

139.00
1.00 (0.72%)
26 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Pensionbee Group Plc LSE:PBEE London Ordinary Share GB00BNDRLN84 ORD GBP0.001
  Price Change % Change Share Price Shares Traded Last Trade
  1.00 0.72% 139.00 109,424 16:35:16
Bid Price Offer Price High Price Low Price Open Price
139.00 140.00 140.00 137.00 138.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Pension,health,welfare Funds 23.82M -10.57M -0.0472 -29.66 313.39M
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:16 UT 1,742 139.00 GBX

Pensionbee (PBEE) Latest News (4)

Pensionbee (PBEE) Discussions and Chat

Pensionbee Forums and Chat

Date Time Title Posts
04/3/202407:43PensionBee - an apiary for your pension investments60

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Pensionbee (PBEE) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2024-04-26 15:35:16139.001,7422,421.38UT
2024-04-26 15:15:24139.0111.39O
2024-04-26 14:52:57140.0079.80O
2024-04-26 14:52:57137.501013.75O
2024-04-26 14:25:44137.5311.38O

Pensionbee (PBEE) Top Chat Posts

Top Posts
Posted at 26/4/2024 09:20 by Pensionbee Daily Update
Pensionbee Group Plc is listed in the Pension,health,welfare Funds sector of the London Stock Exchange with ticker PBEE. The last closing price for Pensionbee was 138p.
Pensionbee currently has 223,852,000 shares in issue. The market capitalisation of Pensionbee is £313,392,800.
Pensionbee has a price to earnings ratio (PE ratio) of -29.66.
This morning PBEE shares opened at 138p
Posted at 25/1/2024 13:32 by edmonda
"Growth still strong, adjusted EBITDA turns positive in Q4" - new report from Equity Development:

In March 22, our initiation note was titled A pensions fintech starting to look like a Rocketship. Since then, market, investor and consumer confidence have been rocked by geopolitical events and deteriorating economic conditions. But despite that, PensionBee has delivered. What’s more, it has moved into profitability on an adjusted EBITDA basis within the timeframe targeted at its Apr 21 IPO.

Over FY23 (to 31 Dec 23), 46k net new invested customers (ICs) were added (ICs + 25% to 229k), £1.3bn of AUA were added (AUA +44% to £4.4bn, net inflows +£857m, market movements +£464m), and revenue grew 35% to £23.8m. It was a continuation of an already-impressive growth story.

As scale benefits continue, adj. EBITDA improved from -£19.5m in FY22 to -£8.4m in FY23 and was positive in Q4 (>£0.5m). The business maintains a healthy cash position of £12.2m and does not envisage further equity raises. Our fundamental valuation remains 150p per share.
Posted at 31/10/2023 16:36 by hedgehog11
The company looks on track for EBITDA profit by the end of the year (albeit looks like they reduced marketing to ensure they achieve it). Cash burn looks like it will not be an issue and should have plenty left in the bank assuming profitability through 2024, growth still looks strong and they have a lot of money under their control from which they make a lot of revenue and would be of high value to a buyer. Is there anything holding investors back here because the current price doesn't look to expensive for a company with their growth rate?
Posted at 31/8/2023 10:07 by kemche
"Investor interest in PBEE shares has continued to ramp up"

Okaaaaaay!
Posted at 31/8/2023 07:41 by edmonda
"Profitability in sight with investor interest building"

Interims to 30th June 2023 show invested customers reaching 211k, with 28k added over H1-23 (+15%) and 52k y-o-y (+33%). Assets Under Administration was up £678m over H1 (+22% over 6m, +38% y-o-y), reaching £3.7bn, with £469m added from net client inflows and £210m from investment performance.

Encouragingly, increasing brand awareness and sophisticated data-driven marketing has resulted in ‘cumulative cost per invested customer’ continuing to decline (H1-22: £260; H1-23: £247). This has, in turn, resulted in strong growth continuing but with lower marketing spend (£12m spend in H1-22 v £7m in H1-23 whilst gross inflows were up 6%).

Revenue grew 32% to £10.9m (H1-22: £8.3m) with adjusted EBITDA trajectory (H1-22: -£14.9m; H1-23: -£7.9m) continuing on track to be positive in FY24, a target set at the 2021 IPO. Operational leverage continues with invested customers per staff member increasing from 919 in H1-22 to 1,026 in H1-23. Net cash remains solid at £14m with no new cash raising envisaged.

Investor interest in PBEE shares has continued to ramp up (see front page graph), and our fundamental valuation remains 150p per share.

Link to research report:
Posted at 20/7/2023 11:41 by edmonda
Growth on track, as is target of profitability in FY24

New note here:

Invested customers reached 211k on 30 June 23, with 28k added over H1-23 (+15%) and 52k y-o-y (+33%). Assets Under Administration was up £678m over H1 (+22% over 6m, +38% y-o-y), reaching £3.7bn, with £469m added from net client inflows and £210m from positive investment performance.

This progress is on track to meet our previous growth targets and confirms that PensionBee continues to gain market share in the £700bn UK transferable pensions market (it is aiming for a 2% share of this market i.e., 1m customers, in the next 5-10 years).

They remain on track to be adjusted EBITDA (H1’22: -£15m; H1-23, -£8m) positive in FY24, a target set back at the 2021 IPO.

Our forecasts remain unchanged, as does our fundamental value of 150p per share which is now 100% above the current share price of 75p.
Posted at 20/7/2023 09:52 by strollingmolby
Outlook

The Board remains confident in PensionBee's potential for continued growth and profitability, due to its ability to attract new customers that generate growth in recurring revenue through its scalable technology platform.

The Company is pleased to reiterate the guidance previously provided at the time of the 2022 full year results. Its strong cash balance of GBP14m leaves it well-placed to pursue a c.2% market share target of the substantial GBP700bn UK transferable pensions market over the next 5-10 years, resulting in a long-term potential revenue opportunity of approximately GBP150m.

The Company remains on track to further reduce Cost per Invested Customer, expecting to achieve ongoing Adjusted EBITDA profitability by the end of 2023 and profitability for the full year 2024. PensionBee expects to achieve long-term EBITDA margins in excess of 50%, driven by the scalability of its technology platform. This is supported by the Company's continued positive momentum in its trading performance and growth in key metrics such as customer growth and AUA.
Posted at 20/3/2023 11:00 by melody9999
Had a quick listen to the presentation. Does not fill me with confidence these guys have a control over their costs.

When the FD talks about brand awareness, marketing etc rather than costs and profitability, its a red flag.

Cash reduced from £44M to £21M at 2022 y/e. That must be c £16M now. These guys are burning cash fast. Expect a dilutionary cash call before long.

My interest in PBEE was provoked by my holding in XPS.... think I'll stay put.
Posted at 16/3/2023 16:02 by kalai1
PensionBee Group plc posted FY22 results this morning. Revenue increased by 38% to £17.7m (2021: £12.8m), adjusted EBITDA loss was £(19.5)m up from £(16.4)m reflecting continued investment in growth, statutory Loss before Tax was £(22.4)m. Assets under Administration increased by 17% year on year to £3.0bn (2021: £2.6bn), driven predominantly by strong net flows from new and existing customers. The Invested Customer base increased by 56% year on year to 183,000 (2021: 117,000). So the business is growing solidly but is not yet delivering a profit, nor will it anytime soon. Share price is down around 40% from the generous IPO price in Q2 2021, but valuation still looks stretched with PS ratio over 14x and comfortably bottom decile for the sector. PBEE looks like a company with a lot of potential for the long run, but is still way too expensive. Monitor for now...

...from WealthOracle
Posted at 16/3/2023 11:09 by edmonda
Growth and delivery driving strong investor interest (new note from Equity Development)

Research report & audio summary:

In FY22 (to 31 Dec 22) PensionBee continued to rapidly grow, despite market falls, and gain market share (page 2) in the structurally growing £700bn target market of transferable DC pensions (page 12). Invested customers grew 56% to 183k, AUA 17% to £3.03bn (net inflows +£863m, market movements -£424m), and revenue 38% to £17.7m. Adjusted EBITDA started to ‘turn the corner’ towards profitability and is forecast to turn positive on a monthly basis by the end of 2023. The net cash position is robust at £21m with no new cash raising envisaged.

We also flag the encouraging jump in investor interest in PBEE shares - especially after its Jan 23 trading update which showed the path to profitability was on track - with the recent price rise accompanied by strong volumes. On top of its fundamentals, PensionBee’s inclusion in the FTSE All-Share and FTSE SmallCap indices from 20 Mar 23 should be another positive for the share price.

PensionBee’s customer acquisition growth path compared to incumbents indicates it is rapidly gaining market share. In H2 of 2022, it added 24k net new invested customers (H2-22 annualised growth rate of 30%):
• This was more than double the total number of net new D2C platform clients (pension and other clients) added by AJ Bell (10k, which translated to an H2-22 annualised growth rate of 7%).
• And it was only a little less than the total number of net new clients (pension and other clients) added by the UK’s largest D2C investment platform, Hargreaves Lansdown (HL), which added 31k (an H2-22 annualised growth rate of 4%), and much higher than HL’s new pension accounts (13k net new SIPP accounts and 16k ISA and other accounts).

Our forecasts remain unchanged, as does our fundamental value of 150p per share.
Posted at 20/1/2023 08:07 by paleje
Nobody seems interested. Too boring perhaps:) Building nicely imo, brand name recognition established, increasing market share, profit not far away. Good summary from ED, thanks edmonda.
Pensionbee share price data is direct from the London Stock Exchange

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