Update: Cloud revenue rate now at 34% of total
StatPro continues to make solid progress on its transition to the cloud. StatPro Revolution annualised recurring revenues jumped 46% over the year to £7.8m, while the acquisition of Investor Analytics in January boosts cloud revenues to 34% of the proforma total. The group’s multi-tenanted cloud solutions enjoy significant advantages over traditional software and we believe there is an increasing potential for positive earnings surprises, as StatPro moves to late-stage cloud transition. Hence with StatPro’s US-based financial software peers and SaaS companies trading on lofty multiples, we continue to believe there is significant upside in the shares.Statpro Group is engaged in the development, marketing and distribution of software systems and the provision of cloud-based portfolio analysis and asset pricing services to the asset management industry.
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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