YouGov - Strong sales pipeline

YouGov’s year-end trading update indicates that results will be in line with management expectations, with a strong sales pipeline giving confidence for further progress in FY22. Particularly encouraging is that the progress is described as across ‘all divisions and geographies’ (on an underlying basis). The group is broadening its sales resource to keep driving the strategic, longer-term deals that are building recurring revenues and it continues to build its presence in the important US market. Our modelling suggests year-end net cash of £40.5m, giving plenty of flex for further technology and panel investment, and geographic expansion.