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Edison Investment Research

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Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

Equity Bottom-Up

<p>Nektan is an innovative B2B mobile gaming platform provider, gaining positive momentum in Europe and the US. However, the business is still early stage, with &#163;13.3m FY17 revenues accompanied by continued EBITDA losses. During 2017, Nektan secured a &#163;2.5m loan from management and raised &#163;1.76m via a placing and subscription of new shares. Depending on performance, we believe further fund-raising is possible. The dilution from the 2017 fund-raising has been mitigated by positive sentiment over subsequent management share purchases, as well as a new investor. In our view, profitable revenue growth and a move to positive EBITDA are necessary for a re-rating.  </p>

Nektan is an innovative B2B mobile gaming platform provider, gaining positive momentum in Europe and the US. However, the business is still early stage, with &#163;13.3m FY17 revenues accompanied by continued EBITDA losses. During 2017, Nektan secured a &#163;2.5m loan from management and raised &#163;1.76m via a placing and subscription of new shares. Depending on performance, we believe further fund-raising is possible. The dilution from the 2017 fund-raising has been mitigated by positive sentiment over subsequent management share purchases, as well as a new investor. In our view, profitable revenue growth and a move to positive EBITDA are necessary for a re-rating.  

Nektan plc - Successful fund-raising to fuel growth

United Kingdom

Nektan PLC is a mobile business which develops, licenses and operates Real Money Gaming (RMG) and Freemium Gaming in global regulated markets. The Company offers touch gaming products, platforms and services for commercial operators, land based operators and brand owners. Nektan focuses on casino and bingo gaming market.

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Nektan plc (NKTN LN)

Nektan plc - Successful fund-raising to fuel growth

Nektan is an innovative B2B mobile gaming platform provider, gaining positive momentum in Europe and the US. However, the business is still early...

Edison Investment Research

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