RDT building momentum
Rosslyn Data signed a raft of blue chip clients in H1’19 - and today announced another 3, worth £500k in total, operating in the International Logistics, Healthcare and Pharma sectors. In turn, pushing annualised recurring revenues to >£6m (vs £5.05m vs 31st Oct’18), and putting the firm within touching distance of becoming cashflow positive.Although our FY19 estimates and 12.5p/share valuation remain unchanged, we nevertheless note that the contracts bolster RDT’s P&L cover for this year and next. Namely, FY19 turnover and EBITDA of £7,500k (Act H1 £3,532k vs Est H2 £3,968k) and £242k (Act H1 -£290k vs Est H2 £532k) respectively, generating a +3.2% margin, and rising to £8,250k and £812k (9.8% margin) in FY20. What’s more, the stock at 7.3p trades on a frugal 2.0x CY EV/turnover multiple, representing a substantial discount to Big Data peers at 8.4x
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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