Search Follow us
Refine By

Stock Exchange

Market Cap (m)


Type of Publication


1 - 12 of 30
Sort by: popularity | newest
Page  2 3  of 3 | Next

FY18 revenue growth of 14% confirmed

Update | Technology | 22 Jan 2019

Esker saw another strong quarter in Q418, with underlying revenue growth of 15% resulting in FY18 revenue growth of 14% (or 16% in constant currency). A strong uplift in the value of contracts signed in FY18 provides good visibility for FY19 and support for the company’s target of generating another year of double-digit revenue growth. We have revised our forecasts to reflect FY18 revenues and the company’s strategy of reinvesting any profits above the 15% target operating margin level.


Combining growth with profitability

Outlook | Technology | 28 Sep 2018

Esker’s H118 results confirmed strong revenue growth and profitability on a group basis, and 20% growth in SaaS-related revenues. The company’s strategy of investing in the business to support future growth while maintaining mid-teens operating margins remains on track. Strong order intake and a high level of recurring revenues provide good support for our revenue growth forecasts.


Upgrading on strong Q2 performance

Update | Technology | 27 Jul 2018

Organic growth has accelerated through H118 and, combined with a slightly more favourable currency position and strong order intake, leads us to upgrade our forecasts for FY18 and FY19. We have increased our revenue forecasts by 1.7% in FY18 and 3.8% in FY19. Factoring in increased investment in headcount, this translates into normalised EPS upgrades of 8.2% in FY18 and 4.0% in FY19.


Investing for sustained growth

Update | Technology | 10 Apr 2018

Esker’s FY17 results confirmed that the company has maintained its double-digit revenue growth rate. While investment in R&D and consulting capacity held back the rate of profit growth in FY17, this highlights the company’s focus on driving multi-year revenue growth. We have revised our forecasts to take account of the higher cost base, which is more than offset by the reduction in the group tax rate. We increase our normalised EPS forecast by 0.6% in FY18 and forecast EPS growth of 19.5% in FY19.


Double-digit growth to continue

Flash note | Technology | 17 Jan 2018

Esker’s Q4 revenue update confirms that the company hit its double-digit organic revenue growth target for FY17 and expects a similar performance in FY18. While FY17 revenues are ahead of our forecast, we make no changes to forecasts pending FY17 results on 22 March, when the company will report profitability for the year.


On track to meet FY17 organic growth target

Flash note | Technology | 18 Oct 2017

Esker saw strong growth in revenues in Q317, with 17% reported growth and 14% growth on an organic, constant currency basis. The recent e-integration acquisition is performing in line with expectations and management has reconfirmed its FY17 outlook for double-digit organic revenue growth. We leave our forecasts unchanged.


Growth outlook maintained

Outlook | Technology | 21 Sep 2017

Esker’s investment in headcount and recent bolt-on acquisitions is generating strong growth for the company, with expectations for double-digit organic growth in FY17 re-confirmed. Esker’s strategy of producing software that improves the efficiency of customers’ business processes has proved successful, with very low levels of churn and high recurring revenues. Product development is focused on evolving the current product range to reduce complexity, improve functionality and increase buyer/supplier visibility. The longer-term aim is to provide a business collaboration network and to potentially offer supply chain finance.


On track; outlook maintained

Update | Technology | 20 Jul 2017

Esker has reported H117 revenues in line with our forecasts, achieving 9% y-o-y organic constant currency growth. The e-integration acquisition is performing well and the company has maintained its guidance for double-digit organic revenue growth for 2017. Esker’s strong cash position provides resources for further M&A. We leave our forecasts unchanged, pending full H117 results on 14 September.


Investing for sustainable growth

Update | Technology | 21 Apr 2017

Esker reported another year of double-digit organic revenue growth and confirmed that it expects to achieve similar in FY17. The company's investment in headcount was higher than we expected and is likely to continue at a similar pace in FY17. While this weighs on our earnings forecasts, it should provide the foundations to support growth on a multi-year basis. Bolt-on acquisitions of businesses with a similar recurring revenue model and complementary technology are likely to accelerate the pace of growth.


Q416 in line, positive outlook for FY17

Flash note | Technology | 19 Jan 2017

Esker has reported Q416 and FY16 revenues in line with our forecasts. Strong growth in new contracts combined with c 80% recurring revenues support continued growth and the company expects to generate double-digit organic revenue growth in FY17. We leave our forecasts unchanged pending full-year results in March. We note that Esker had net cash of EUR 15.9m at the end of FY16, providing ample funds for investment to drive growth.


German EDI acquisition

Update | Technology | 31 Oct 2016

Esker has signed an agreement to acquire e-integration, a German electronic data interchange (EDI) business, for an undisclosed amount. This complements last year's acquisition of CalvaEDI and strengthens Esker's presence in German-speaking countries. With a similar business model to Esker, e-integration will add recurring revenues and a strong German customer base.


Strong SaaS business, weaker legacy

Update | Technology | 21 Oct 2016

Esker continues to see strong growth in its document process automation (DPA) business, particularly from its SaaS-based business. However, a larger than expected decline in legacy product sales in Q3 has prompted a more conservative outlook for the full year and we have revised our estimates to reflect this. In our view, the investment case for Esker rests on the success of the DPA business and in this respect we view the company as on track to continue to grow revenues and profitability.