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.

Equity Bottom-Up

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

Globe Metals And Mining / Equity Bottom-Up

Globe Metals and Mining Ltd. explores for niobium, tantalum, rare earths, and other metals.

<ul>
<li>RaaS Research Group has produced an update report on niobium-focused Globe Metals &amp; Mining (ASX:GBE).</li>
<li>GBE has continued metallurgical work for their chlorination process with results (20 March 2024) demonstrating the ability of the process to produce high purity Nb205 at a lab scale.</li>
<li>The results showed an extraction and separation rate of 99% for niobium and tantalum as well as 94% for rare earth elements (REEs).</li>
</ul>


RaaS Research Group has produced an update report on niobium-focused Globe Metals &amp; Mining (ASX:GBE).
GBE has continued metallurgical work for their chlorination process with results (20 March 2024) demonstrating the ability of the process to produce high purity Nb205 at a lab scale.
The results showed an extraction and separation rate of 99% for niobium and tantalum as well as 94% for rare earth elements (REEs).


Globe Metals & Mining Ltd - Economics Improved, Progressing to DFS

Qantm Intellectual Property / Equity Bottom-Up

QANTM Intellectual Property Limited operates in the commercial services industry. The Company offers services for patent, design, trademark procurement, and other related intellectual properties throughout Australia.

<ul><li>RaaS Reseach Group has published an update report on IP services group QANTM Intellectual Property (ASX:QIP) following the release of the Scheme of Arrangement documentation with Adamantem Capital on 25 June.The documentation includes the Independent Expert’s report from Grant Thornton Corporate Finance which concludes that the Scheme is “fair and reasonable” and in the “best interests of QANTM shareholders in the absence of a superior alternative proposal emerging”.</li><li>The independent expert concludes that the fair market value range for QANTM shares on a control basis is from $1.736/share to $2.098/share, suggesting a respective premium of 4.7% and discount of 13.4% to the cash offer of $1.817/share.</li><li>Our existing DCF-based valuation has remained unchanged at $1.79/share.</li></ul>

RaaS Reseach Group has published an update report on IP services group QANTM Intellectual Property (ASX:QIP) following the release of the Scheme of Arrangement documentation with Adamantem Capital on 25 June.The documentation includes the Independent Expert’s report from Grant Thornton Corporate Finance which concludes that the Scheme is “fair and reasonable” and in the “best interests of QANTM shareholders in the absence of a superior alternative proposal emerging”.The independent expert concludes that the fair market value range for QANTM shares on a control basis is from $1.736/share to $2.098/share, suggesting a respective premium of 4.7% and discount of 13.4% to the cash offer of $1.817/share.Our existing DCF-based valuation has remained unchanged at $1.79/share.

Qantm Intellectual Property - "Fair and reasonable": says independent expert

Pointerra Limited operates as a software development company. The Company builds Data as a Service (DaaS) solution for managing, distributing, and visualizing massive point cloud data sets. Pointerra allows users to view their data from cloud-based servers instantly, as well as share their point cloud data with staff, customers, and partners.

<ul><li>RaaS Research Group has published an update on cloud-based digital twin solution provider Pointerra (ASX:3DP) following the announcement it has been awarded a US$1.63m contract for a US Department of Energy programme to model a range of electric grid resilience investment scenarios by electric utilities.</li><li>We see the contract as validation of Pointerra’s digital twin solution for managing large-scale physical inventory with the potential to provide the company with invaluable exposure to new and existing US clients in the US electric utility sector.</li><li>We have not made any changes to our forecasts as a result of this announcement, although note that we have already factored in substantial revenue growth in FY25f.</li></ul>

RaaS Research Group has published an update on cloud-based digital twin solution provider Pointerra (ASX:3DP) following the announcement it has been awarded a US$1.63m contract for a US Department of Energy programme to model a range of electric grid resilience investment scenarios by electric utilities.We see the contract as validation of Pointerra’s digital twin solution for managing large-scale physical inventory with the potential to provide the company with invaluable exposure to new and existing US clients in the US electric utility sector.We have not made any changes to our forecasts as a result of this announcement, although note that we have already factored in substantial revenue growth in FY25f.

Pointerra Ltd - Good start to FY25 with US Dept of Energy contract

RaaS selects and engages with Australian small caps and microcaps that the market has mis-priced and/or misunderstood. Our goal is to deliver a market re-rating for our clients through focused, indepth and timely research and financial models. The RaaS team comprises highly experienced equity analysts who have all been rated analysts at investment banks including Credit Suisse, BNP Paribas, Royal Bank of Canada, ICBC Standard Bank.