I attended three webinars today. The first was a presentation by Eleco (ELCO) on their interim results on the Investor Meet Company platform. They reported “revenues slightly ahead of expectations”. They seem to be successfully transitioning to an SAAS model from one-off software licence sales.
Annualised recurring revenue was up 18% and the company seems to be making the right decisions but I wish the CEO would sound more enthusiastic about future prospects. My view is that the financial profile is OK but not good enough to excite anyone at present.
Small cap software companies except in high growth sectors are not popular at present.
The second webinar was with Leicester University to discuss how they can improve their fund raising for IGAN research to which I have been contributing. They have ambitions to raise many more £millions. See https://le.ac.uk/igan for more background. I suffer from this kidney disease and have done so for over 25 years. The research is certainly worth supporting.
The last webinar was on interim results from MyHealth Checked (MHC) who sell a range of home testing kits (for Covid-19 and other diseases). Revenue was down as expected but Covid is now spreading again and panic is rising also. Too early to say whether this business is going to be successful or not. The CEO seemed a bit defensive about the prospects.
You can watch a recording of the webinar on the Investor Meet Company platform.
Roger Lawson (Twitter https://twitter.com/RogerWLawson )
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