bullish

Esker SA

Esker - Strong Q1 growth; FY20 outlook maintained

207 Views16 Apr 2020 15:22
Issuer-paid
SUMMARY

Esker’s Q1 revenue update confirmed that despite a small reduction in documents processed due to the COVID-19 disruption, revenues grew 17% y-o-y, with cloud-related revenues up 21% y-o-y. Management maintained its outlook for c 10% revenue growth in FY20 and highlighted that the crisis is bringing into focus the benefits of automating back-office processes. We maintain our forecasts, which were recently revised to take account of COVID-19 restrictions.

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