3 contract renewals worth £0.9m in ARR
A key takeaway from COVID-19 is that the pandemic has accelerated ‘cloud’ adoption, and focused executive’s attention on cost savings, productivity & supply chain optimisation: all of these secular trends are right in the sweet spot of Rosslyn’s Big Data & Spend Analytics SaaS platform, RAPid.The company today announcing that it had extended 3 contracts, worth a combined £0.9m of ARR (annualised recurring revenues) and £1.5m in total value.
The extensions are with top quality clients: namely an international telecoms business, a world-renowned American university, and a UK government department to between Sept’21-Jun’23. Highlighting once again the criticality of the firm’s leading technology and services.
These 3 renewals add further visibility, support our £6.4m FY21 ARR estimate (£6.0m LY), and reinforce the modest 9.5p/share valuation.
Moreover, if the Board can achieve its strategic objective of tripling ARR by April’23 – then there should be no reason why the valuation could not justify at least a 3x-5x EV/sales multiple: equivalent to £54m-£90m, or 16p-26p/share.
Coupa Software is a provider of business spend management (BSM) solutions. The company provides a cloud-based BSM platform that delivers a range of capabilities that would typically require the purchase and use of multiple disparate point applications. The company's main platform consists of procurement, invoicing, expense management and payments modules that form the transactional engine for managing a company's business spend. In addition, the company's platform provides supporting modules to help companies further manage their spend, including strategic sourcing, spend analysis, contract management, supplier management, and contingent workforce management.
Elastic is a search company. The company's products enable its users and customers to instantly find relevant information and insights in large amounts of data. The company provides the Elastic Stack, a set of software products that ingest and store data from any source, and in any format, and perform search, analysis, and visualization in milliseconds or less. The Elastic Stack is designed for direct use by developers to power a variety of use cases. The company also provides software solutions built on the Elastic Stack that address a variety of use cases. The Elastic Stack and the company's solutions are designed to run on premises, in public or private clouds, or in hybrid environments.
Proactis Holdings is engaged in the development and sale of business software, installation and related services.
Rosslyn Data Technologies is engaged in the development and provision of data analytics software. Co. develops and commercializes its customer-centric cloud data platform, RAPid. RAPid extracts, integrates and synchronizes data from sources. RAPid then transforms and enriches this data, providing the user with tools to build charts, tables and apps in order to visualize the information and deliver insight. This is all performed over a secure cloud connection, giving access from mobile, laptop or tablet.
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