Oct 18th 2013 - Edison Investment Research today published a report on StatPro (SOG.L, LSE:SOG, LON:SOG) entitled "StatPro Group - Strong SaaS Story Underpins In-line Q3". In summary, the report says:
StatPro has reported that Q3 trading was in line with expectations. StatPro Revolution, the group’s initial cloud services product, continued to grow at a robust pace, with annualised recurring revenue representing c 9% of the recurring revenue book (c 93% of StatPro’s revenues are recurring), up from 8% at 30 June and 5% as at 31 December. StatPro R+, the cloud-based replacement for the group’s traditional product suite, moves to its second beta version in November and remains on target for its commercial launch in late 2014. Hence the transition to a pure cloud business is moving smoothly and we continue to see significant upside potential, as US pure SaaS stocks typically trade on very punchy EV/sales multiples.
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