reports
- Victoria Pease
Nektan - Successful fund-raising to fuel growth
Nektan is an innovative B2B mobile gaming platform provider, gaining positive momentum in Europe and the US. However, the business is still early stage, with £13.3m FY17 revenues accompanied by continued EBITDA losses. During 2017, Nektan secured a £2.5m loan from management and raised £1.76m via a placing and subscription of new shares. Depending on performance, we believe further fund-raising is possible. The dilution from the 2017 fund-raising has been mitigated by positive sentiment over ...
- Victoria Pease
Nektan plc - Successful fund-raising to fuel growth
Nektan is an innovative B2B mobile gaming platform provider, gaining positive momentum in Europe and the US. However, the business is still early stage, with £13.3m FY17 revenues accompanied by continued EBITDA losses. During 2017, Nektan secured a £2.5m loan from management and raised £1.76m via a placing and subscription of new shares. Depending on performance, we believe further fund-raising is possible. The dilution from the 2017 fund-raising has been mitigated by positive sentiment over ...
Ford Equity International Rating and Forecast Report
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
Update: Funding the move forward
Nektan’s Q3 trading update shows revenues increasing rapidly, albeit from a much lower base than we hoped last year. We are reintroducing FY16 forecasts (EBITDA loss of £5.6m versus our October 2015 target of £0.2m profit) and will add FY17 in July. With Q316 revenue 115% higher than Q216 and following a cost efficiency programme, we believe that a positive EBITDA run rate is within sight. Nektan’s unconsolidated US JV Respin is also picking up steam and now has 54 signed contracts with ca...
Update: Making progress
Nektan’s first full-year results since its IPO revealed solid revenue and operational progress, together with a positive outlook statement. The company reported a strong August for gaming revenues in European markets and increasing traction in the US casino market, where Respin is now active in 12 casinos, up threefold since the end of June. This sets the scene for near-term revenue delivery, paving the way for EBITDA profitability in FY16 on our estimates, achievement of which would narrow th...
Update: A refocused approach
Nektan’s trading update implies a slower than hoped for ramp-up in the business and management is now focusing on higher margin real money gaming and away from freemium. We have cut our previous aggressive forecasts and it is still early days, with important new partners such as The Sun only just coming on stream, encouraging KPIs and rising interest from US casinos in Respin’s products. The next six months is an important proving period but we continue to expect strong growth and, if our es...
Update: All to play for
In the past six weeks Nektan has reported three major new B2B mobile gaming partners, including News UK (The Sun), demonstrating very encouraging business momentum and underpinning our expectation of substantial revenue growth in FY16. Maiden interims were in line with our expectations and our EBITDA estimates are unchanged. Nektan is early stage and our recent initiation outlined the potential for its market value to double over the next two years if it can sign up partners as planned.
Initiation: Mobile-first gaming opportunity
Nektan offers investors an interesting way to play the rapidly growing mobile gaming market with a new B2B platform, a promising pipeline of B2B partners and an experienced management team. Add to this US opportunities – both land-based casinos and freemium – and we see potential for Nektan’s market value to double over the next two years. Nektan is currently early stage and loss making and the key catalyst is the addition of major new B2B partners and US casino customers over the next nin...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.