External broker reports(aggregated public sources), Bell Potter Securities

Bell Potter

External broker reports(aggregated public sources)

Bell Potter Securities

Bell Potter Securities is a leading Australian stockbroking, investment and financial advisory firm that provides a comprehensive offering of financial services to individuals, institutions and corporations. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Integrated Research Limited develops, sells and supports system and application management software products.  The Group's software is used by customers for a variety of services, including storage management, data collection, performance tracking, event automation, help desk applications, job scheduling and resource management.

<ul><li>Integrated Research (IR) provided an FY24 trading update and effectively narrowed the previously provided guidance ranges to the top end: Revenue up 17% to b/w $82- 84m (vs previous $76-85m and BPe $78.2m); EBITDA up 90-107% to b/w $23-25m (vs previous $18-25m and BPe $18.8m); and Total contract value up 20-23% to $82- 84m (vs previous $75-84m).</li><li>The company also said cash at 30 June was $31.9m which was ahead of our forecast of $29.4m.</li><li>IR also provided some outlook commentary for FY25 and said: Renewals are expected to be weighted to the second half; The full year will rely more on new business than in FY24; and The company will review its resourcing and capital plans mindful of the need to invest in new products for incremental growth but also the strength of the Balance Sheet. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Integrated Research (IR) provided an FY24 trading update and effectively narrowed the previously provided guidance ranges to the top end: Revenue up 17% to b/w $82- 84m (vs previous $76-85m and BPe $78.2m); EBITDA up 90-107% to b/w $23-25m (vs previous $18-25m and BPe $18.8m); and Total contract value up 20-23% to $82- 84m (vs previous $75-84m).The company also said cash at 30 June was $31.9m which was ahead of our forecast of $29.4m.IR also provided some outlook commentary for FY25 and said: Renewals are expected to be weighted to the second half; The full year will rely more on new business than in FY24; and The company will review its resourcing and capital plans mindful of the need to invest in new products for incremental growth but also the strength of the Balance Sheet. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Integrated Research (IRI): Strong Turnaround

Director, RaaS Advisory, Research as a Service (RaaS)

Research as a Service (RaaS)

Director, RaaS Advisory

Insightful Financial Models and Research Analysis

Connect to the right investors through smart and insightful financial models and research analysis.

Kinatico Ltd operates as a technology company. The Company offers platform which helps employers to manage their workforce and meet their regulatory compliance needs. Kinatico serves customers worldwide.

<ul><li>RaaS Research Group has published an update report on 'Know Your People' regtech company, Kinatico (ASX:KYP) following its Q4 FY24 result which confirmed the company delivered NPAT of $0.8m for FY24, up 225% on FY23 and 60% ahead of our forecast.</li><li>Q4 SaaS revenue jumped 40% on the pcp to $2.8m and was 12% ahead of Q3 and was ahead of our expectations.</li><li>Transactional revenue of $4.5m for the quarter was flat on Q3 and down 12% on the pcp.</li></ul>

RaaS Research Group has published an update report on 'Know Your People' regtech company, Kinatico (ASX:KYP) following its Q4 FY24 result which confirmed the company delivered NPAT of $0.8m for FY24, up 225% on FY23 and 60% ahead of our forecast.Q4 SaaS revenue jumped 40% on the pcp to $2.8m and was 12% ahead of Q3 and was ahead of our expectations.Transactional revenue of $4.5m for the quarter was flat on Q3 and down 12% on the pcp.

Kinatico Ltd - FY24 NPAT up 225% and 60% ahead of RaaS forecasts

<ul><li>RaaS Research Group recently interviewed Kinatico Non Executive Director Georg Chmiel on what attracted him to join the KYP board in September 2023.</li><li>We discussed the merits of platform businesses and his experiences with technology platform companies.</li><li>Mr Chmiel noted the merits of recurring revenues, including higher margins than one-time or transactional revenue, and lower costs as the platform becomes more scalable.</li></ul>

RaaS Research Group recently interviewed Kinatico Non Executive Director Georg Chmiel on what attracted him to join the KYP board in September 2023.We discussed the merits of platform businesses and his experiences with technology platform companies.Mr Chmiel noted the merits of recurring revenues, including higher margins than one-time or transactional revenue, and lower costs as the platform becomes more scalable.

Kinatico (ASX:KYP) Georg Chmiel Interview

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Altium Limited develops electronic design automation (EDA) software for the Microsoft Windows operating system.  Altium's products facilitate and aid in the design of electronic products such as printed circuit boards.  The Group's products are utilized by telecommunications, automotive, defense, science and consumer electronics industries.

<ul>
<li>I tally 46 - mostly firm, mostly Asia-Pac - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.</li>
<li>Four new deals discussed this week on Smartkarma: <a href="https://www.smartkarma.com/entities/second-chance-properties-ltd" target="_blank" data-smartkarma-citation="entities:20342:1" rel="noopener">Second Chance Properties (SCE SP)</a>'s VGO,<a href="https://www.smartkarma.com/entities/shinsung-tongsang-co-ltd" target="_blank" data-smartkarma-citation="entities:4107:1" rel="noopener">Shinsung Tongsang (005390 KS)</a>'s Tender, <a href="https://www.smartkarma.com/entities/rex-minerals-ltd" target="_blank" data-smartkarma-citation="entities:13845:1" rel="noopener">Rex Minerals (RXM AU)</a>'s Scheme, and <a href="https://www.smartkarma.com/entities/canvest-environmental-protection-group-co-ltd" target="_blank" data-smartkarma-citation="entities:100:1" rel="noopener">Canvest (1381 HK)</a>'s possible Offer.</li>
<li>Key updates took place on <a href="https://www.smartkarma.com/entities/altium-ltd" target="_blank" data-smartkarma-citation="entities:18626:1" rel="noopener">Altium Ltd (ALU AU)</a>, <a href="https://www.smartkarma.com/entities/pacific-smiles-group-ltd" target="_blank" data-smartkarma-citation="entities:2891:1" rel="noopener">Pacific Smiles (PSQ AU)</a>, <a href="https://www.smartkarma.com/entities/asia-cement-china-holdings" target="_blank" data-smartkarma-citation="entities:3374:1" rel="noopener">Asia Cement China (743 HK)</a>, <a href="https://www.smartkarma.com/entities/shanghai-henlius-biotech-inc" target="_blank" data-smartkarma-citation="entities:27888:1" rel="noopener">Shanghai Henlius Biotech (2696 HK)</a>, and <a href="https://www.smartkarma.com/entities/kfc-holdings-japan-ltd" target="_blank" data-smartkarma-citation="entities:12358:1" rel="noopener">Kfc Holdings Japan (9873 JP)</a>.</li>
</ul>


I tally 46 - mostly firm, mostly Asia-Pac - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.
Four new deals discussed this week on Smartkarma: Second Chance Properties (SCE SP)'s VGO,Shinsung Tongsang (005390 KS)'s Tender, Rex Minerals (RXM AU)'s Scheme, and Canvest (1381 HK)'s possible Offer.
Key updates took place on Altium Ltd (ALU AU), Pacific Smiles (PSQ AU), Asia Cement China (743 HK), Shanghai Henlius Biotech (2696 HK), and Kfc Holdings Japan (9873 JP).


(Mostly) Asia-Pac M&A: Second Chance Properties, Shinsung Tongsang, Rex Minerals, Canvest, Altium

Pureprofile Ltd. operates as a online marketing and research company. The Company offers consumers with a web application, which enabled them to create and maintain their profile in order to be matched with relevant business marketing messages and survey questions.

<ul><li>RaaS Research Group conducted a webinar with Pureprofile's Managing Director Martin Filz and CFO/COO Melinda Sheppard on 28 June following the $1.25m acquisition of i-Link Research Solutions.</li><li>This is a transcript of the webinar.</li></ul>

RaaS Research Group conducted a webinar with Pureprofile's Managing Director Martin Filz and CFO/COO Melinda Sheppard on 28 June following the $1.25m acquisition of i-Link Research Solutions.This is a transcript of the webinar.

Pureprofile RaaS Webinar Transcript 28 June 2024