FY16 results were ahead of forecast and sales momentum remained strong in the first four months of FY17. The next iteration of the platform, GIANT 2017 marks a step-change in usability and functionality and with a growing network of sales partners, this should underpin sustained revenue growth. This progress is not reflected in Fusionex’s EV/EBITDA rating which despite its higher margins, is the lowest in its peer group at 13x FY17e.
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Fusionex’s big data analytics solution, GIANT, has demonstrated that it can compete against the major industry vendors. The launch of GIANT 2016 further enhances the offering, including improved support for SaaS delivery to open up the largely unaddressed SME market. Enabled by the £14m fund-raising last October, investment has been stepped up to support a more ambitious growth strategy. While margins will be affected, the market opportunity is significant, GIANT’s reputation is building and thi...
Winning Brother, the global printing and communications equipment company, as the latest GIANT customer adds further credibility to Fusionex and brings the total GIANT wins to 25 – not far short of management’s year-end target of 30. It follows the recent confident trading update and the distribution agreement with Mesiniaga, Malaysia’s leading systems provider and integrator. The interim results should now see investor attention shift from questions about whether GIANT is going to be a su...
The interim trading update to 31 March suggests half-year results will be in line with market expectations. The tone of the statement is particularly confident. We are not adjusting our forecasts at present, but recent newsflow regarding the number and quality of contract wins suggests our forecasts could prove conservative.
Preliminary results ahead of our estimates demonstrate that GIANT, Fusionex’s big data solution, is gaining real traction. Furthermore, it is finding a role in industries and customers where it could see far reaching roll-outs, for example in supermarkets, hotels, airlines and manufacturing. Following the successful Hortonworks IPO in December, a spate of recent big data venture capital fundings and corporate deals, and with the prospect of Cloudera and MapR IPOs on the horizon, we expect inve...
The capital markets event showed the investment community not only why Fusionex sees strong demand for its big data products (cost effective, easy to implement and use, delivering real returns), but also why it can match demand. Furthermore, the greater visibility provided into the applications of some users, notably Intel, and into the company’s drive to make GIANT even more user friendly suggest to us that the market may be underestimating what Fusionex can do.
Our view that Fusionex offers an exciting investment opportunity in the big data and business intelligence space was underpinned by the Trading Statement released earlier this week. The statement disclosed that the management anticipates that the results for year-end September will be at least in line with market expectations. We are not revising our forecasts, for now, but look forward to gaining more information when the final results are released and there is greater visibility on the progr...
Fusionex offers a rare and exciting investment opportunity in the big data and business intelligence space. Big data software spend is widely forecast to show explosive growth over the coming years and Fusionex’s GIANT product has been built to address a large proportion of this. The company is well positioned to become a global player in its chosen markets.
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