Update: Paul is covering a lot of stocks in a Part 1 report at this link.

Paul is covering:

In this report, I am covering:

And will see how I'm doing when they are all done. So please refresh through the afternoon (I will update the header of this as stocks are added).




Cloudcall (LON:CALL)

Share price: 102.5p (-0.5%)
No. shares: 20.1m
Market cap: £21m

Final Results

Highlights:

  • Group revenues up 47% to £4.9m, 85% of which is recurring
  • Recurring revenues up 63% compared to 2015
  • US revenues grew 160% to £1.3m (2015: £0.5m) underpinned by Bullhorn relationship
  • Gross profit up 50% to £3.8m (2015: £2.5m)
  • Operating loss before non-recurring items decreased to (£3.7m) (2015: (£4.5m))

Transition to profit is said to be "clearly visible".

Outlook comment from CEO:

"The encouraging revenue growth since the year-end combined with the strong January and February sales provides a solid base for the year and gives me considerable confidence in our ability to deliver in 2017.  I am also increasingly confident that the Group's plans for the coming year will enable it to continue towards its objective of reaching break-even."

User numbers are up from 11,800 to 16,200 and the trend does appear to be one of accelerating growth.

Scrolling down to the separate outlook statement from the Chairman, his wording in relation to profitability is that "the pathway to EBITDA breakeven is now clearly within our sights".

In terms of product development, mobile apps and SMS/IM services will be added soon (the core product is a cloud-based telephone system).

Net cash is £2.3 million (£3.2 million cash minus £0.9 million debt which is currently due to mature in 2018).

My opinion

The after-tax loss was £3 million, slightly worse than the £2.9 million loss…

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