Report
Richard Williamson

Esker - Accelerating SaaS growth

Esker has seen revenue growth accelerate through the course of 2019. Group revenues grew 18% y-o-y in Q3 on a constant currency basis while cloud-based revenues grew 22% over the same period. The company has maintained its full year revenue guidance, which we view as conservative. We maintain our estimates, but highlight that risk is weighted to the upside.
Underlying
Esker SA

ESKER and its subsidiaries are engaged in the design and production of software applications. Co. operates corporate resource access software such as applications and databases for workstations. Co. has three major product groups: Host Access, DeliveryWare and Fax Server. Host Access products allows users to access applications and databases stored on different servers from their own workstations. DeliveryWare responds to the need of companies for automatic management document delivery. Fax Server allows the user to send a fax directly from their workstation.

Provider
Edison Investment Research
Edison Investment Research

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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Analysts
Richard Williamson

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