Daily Brief TMT/Internet: ACI Worldwide, AudioEye , Datatec Limited, QYOU Media and more

• This is our first report on software player, ACI Worldwide Inc. The company delivered a solid earnings performance for the fourth quarter and full year ended 2023.
• The company witnessed a strong acceleration in growth, with a revenue growth of 9% and an EBITDA growth of 32% in its Biller segment.
• The company also demonstrated growth in its banking segment, with revenue growth of 35% and 24% in its anti-fraud and real-time payment solutions respectively.

• While AEye announced 4Q23 revenue of $0.1 million and reduced cash burn again, the real story was the signing of a letter-of-intent with a Tier 1 automotive ADAS sensor supplier.
• CEO Matt Fisch said this, “marks the beginning of a new relationship as part of our capital- light, automotive-first strategy.”
• AEye announced its first 4Sight Flex product, Apollo, which will target L2+, L3, and L4 applications in the automotive market. 

Datatec expects to report revenue of $5.44bn for FY24, up 5.8% y-o-y, and noted that the quality of earnings improved in the year. During H224, Westcon International continued to deliver a strong financial performance. Logicalis International also had a strong half, although its reported revenue growth has been suppressed by a higher proportion of net revenue-reported software sales. Logicalis Latin America had a tougher H2 due to difficult market conditions in Argentina and Brazil. We maintain our forecasts pending FY24 results, which are expected to be on or around 27 May.

• QYOU Media announced the launch of two new channels for its Connected TVs business as well as a distribution agreement for QPlay+.
• On its March 7th townhall, QYOU USA highlighted that it is currently having its best quarter ever, bouncing back from the Hollywood strike.
• This sets up QYOU for a record 2024, as seen in our model and Q1/24 preview section below.