Update: StatPro Revolution ARR rose 46% in FY15
StatPro has reported that FY15 adjusted EBITDA is expected to be in line with our expectations, while revenues were c 4% lower than our forecasts, which we understand was mainly due to the continued weakness in the C$, ZAR and euro against sterling. We have tweaked our FY15 forecasts and eased FY16 due to the currency moves. We have also incorporated Investor Analytics (IA), the cloud-based risk analytics solutions provider that StatPro acquired earlier this month, into our forecasts. We continue to believe there is significant upside in the shares, given the lofty multiples of StatPro’s US-based financial software peers and SaaS companies.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.
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