EQS Group - New customer growth momentum
EQS Group has updated on FY21 revenues, at €50.4m against our forecast of €49.4m. There is no update on FY21 EBITDA, but our numbers imply a very modest margin in Q4, given the extent of additional spend on driving sales. This effort is delivering results, with 425 new customers recruited in Q421 alone. Delays in Europe enacting whistleblowing regulation into national legislation have not had the impact feared in the short term and progress on this front should provide a healthy backdrop for the current year. Guidance for FY22 is unchanged, for revenue in the €65–75m bracket, delivering EBITDA of €6–10m. The scale of the opportunity remains considerable.EQS Group AG, formerly known as EquityStory AG, is a Germany-based provider of regulatory technology (RegTech) in the fields of corporate compliance and investor relations. The Company's activities are divided into two operating segments: Compliance and Investor Relations. The Compliance segment comprises all products required for companies to fulfill their legal and regulatory obligations, including reporting obligations in the news segment (disclosure), submissions to the Federal Gazette (filing), and new products, such as Insider Manager, Integrity Line, LEI, and ARIVA Workflows. The and Investor Relations segment encompasses products for the areas of financial and corporate communications, including news, websites portals, webcasts and media. In addition, its products are pooled in the cloud-based software EQS COCKPIT. The Company's clients are small and medium-sized enterprises (SME), as well as corporate customers. It provides services worldwide.
Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
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