Proactiveinvestors United Kingdom Sopheon Proactiveinvestors United Kingdom Sopheon RSS feed en Tue, 16 Jul 2019 21:59:34 +0100 Genera CMS (Proactiveinvestors) (Proactiveinvestors) <![CDATA[RNS press release - Result of AGM ]]> Thu, 13 Jun 2019 13:06:57 +0100 <![CDATA[RNS press release - Accolade 12.3 ]]> Thu, 13 Jun 2019 07:00:16 +0100 <![CDATA[RNS press release - AGM Statement ]]> Thu, 13 Jun 2019 07:00:04 +0100 <![CDATA[RNS press release - Issue of Equity ]]> Tue, 11 Jun 2019 13:32:43 +0100 <![CDATA[RNS press release - Sopheon Expands Customer Foothold in Asia ]]> Wed, 15 May 2019 07:00:20 +0100 <![CDATA[RNS press release - Issue of Equity ]]> Mon, 13 May 2019 09:14:36 +0100 <![CDATA[RNS press release - Sopheon and National Foods Limited Partnership ]]> Thu, 28 Mar 2019 07:00:24 +0000 <![CDATA[News - Sopheon shares tumble as revenue growth slows into 2019 ]]> Sopheon PLC (LON:SPE) shares tumbled in early trading on Thursday after the company’s revenue growth seemed to slow into its new financial year.

The enterprise software specialist reported in its full-year results that revenue visibility for 2019 was at US$20.6mln, up 6.7% on the year before, however, this was much less than the 33% increase from 2017 into 2018.

READ: Sopheon upgrades expectations again

The rather abrupt slowdown seemed to have spooked investors, with the shares dropping 12.8% to 1,000.5p.

This was despite a strong set of results for the year just gone, with pre-tax profits rising to US$6.4mln from US$5.1mln as revenues jumped to US$33.9mln from US$28.5mln.

The results were bang in line with upgraded expectations from an update in late-January, which had forecast revenues in excess of US$33mln.

Sopheon also hiked its dividend for the year to 3.25p per share from 2.5p in 2017.

In its outlook, the company’s chairman Barry Mence said now was the time to “accelerate investment” and solidify its position in the market, adding that its sales pipeline included “a number of large opportunities”.

House broker ups target price

In a note, Sopheon’s house broker finnCap upped its target price for the group to 1,500p from 1,400p, saying the results had been lifted by “the surge in both interest in and capabilities of [Sopheon’s] Accolade software suite appearing in 22 research reports from [research and advisory firm] Gartner and Forrester in the year”.

Speaking to Proactive, finnCap analyst Andrew Darley said he saw no reason why the group’s share price had dropped following the results, a reaction he said was "completely out of line" with the positive tone of the figures and that the 33% jump in revenue visibility in 2018 from 2017 had been an outlier due to a large number of contract wins.

Thu, 21 Mar 2019 09:51:00 +0000
<![CDATA[RNS press release - Final Results ]]> Thu, 21 Mar 2019 07:00:06 +0000 <![CDATA[RNS press release - Issue of Equity ]]> Tue, 05 Feb 2019 07:00:02 +0000 <![CDATA[News - Sopheon upgrades expectations again ]]> Enterprise software specialist Sopheon PLC (LON:SPE) has again upgraded its profit expectations for 2018.

Revenues will be in excess of US$33m, up 16% and added to lower costs  EBITDA and pre-tax profits will be significantly ahead of the upgraded market expectations.

The year-end net cash position is expected to be $16.7m (2017: $9.5m).

Recurring revenue has risen to $14.7mln coming into 2019, compared to $12m the year before.

Shares have tripled over the past year to 1,270p.

Tue, 29 Jan 2019 09:57:00 +0000
<![CDATA[RNS press release - Trading Update ]]> Tue, 29 Jan 2019 07:00:05 +0000 <![CDATA[RNS press release - Second Price Monitoring Extn ]]> Thu, 24 Jan 2019 16:41:06 +0000 <![CDATA[RNS press release - Price Monitoring Extension ]]> Thu, 24 Jan 2019 16:35:59 +0000 <![CDATA[RNS press release - Accolade Release 12.2 ]]> Thu, 17 Jan 2019 07:00:05 +0000 <![CDATA[News - Sopheon signals strong end to 2018 ]]> Shares in Sopheon Group PLC (LON:SPE), which provides software for innovation management, opened modestly higher after an upbeat trading statement.

The company said revenue for the year just ended will be “comfortably in line” with the market expectations that were upgraded three months ago while early indications are for a stronger outperformance at the underlying earnings (EBITDA) and pre-tax profit levels.

READ: Sopheon surges after raising profit guidance

Sopheon issued the normal caveat that the figures need to be totted up and audited properly.

It expects to issue its results for 2018 on 21 March.

The shares were up 19p at 1,354p.

A bit of a chocolate theme in the first major movers today, featuring Codemasters (ticker symbol CDM, which used to stand for Cadbury's Dairy Milk), Sopheon and Hershey's. via @proactive_uk #brighterir #AndrewScottTV #CapitalNetwork1

— John Harrington (@JournoJohnH) January 8, 2019 ]]>
Fri, 11 Jan 2019 08:20:00 +0000
<![CDATA[RNS press release - Trading Update ]]> Fri, 11 Jan 2019 07:00:03 +0000 <![CDATA[RNS press release - Sopheon Partners with The Hershey Company ]]> Tue, 08 Jan 2019 07:00:06 +0000 <![CDATA[RNS press release - Issue of Equity ]]> Tue, 18 Dec 2018 14:53:23 +0000 <![CDATA[RNS press release - Issue of Equity ]]> Fri, 16 Nov 2018 12:54:55 +0000 <![CDATA[RNS press release - Issue of Equity ]]> Wed, 31 Oct 2018 17:18:15 +0000 <![CDATA[RNS press release - Sopheon Awarded The Nature's Bounty Co. Business ]]> Tue, 23 Oct 2018 07:00:08 +0100 <![CDATA[News - Sopheon surges after raising profit guidance ]]> Software firm Sopheon PLC (LON:SPE) is no stranger to springing pleasant surprises on the market and it was at it again on Monday.

The company enjoyed a record third quarter and advised that full-year results are now expected to exceed current market expectations. The shares rose 11% to 1,007.5p on the news.

READ: Sopheon soars as revenue visibility hits new record

Sopheon said that following a number of transactions in what is traditionally a quiet period for the company, revenue visibility for the year has risen above US$30mln from US$27.3mln at the time of its last update on August 23.

Included in the wins were two material contracts booked during the final days of the quarter, one of which was with a new enterprise customer, while the other was a licence extension. These two customers operate in the chemicals and electronics sectors respectively.

Broker finnCap reiterated its 1,295p target price as it bumped up its full-year revenue forecast by 5% to US$32.5mln from US$31mln previously.

Its forecast for underlying earnings (EBITDA) was bumped up by 9% for this year and 2% for next year.

“The 4Q strength in FY17 & FY18 lead us to suspect we may look to further unscheduled trading updates; however, given the licence-based nature of the model, this is not a certainty – therefore forecasts remain cautious due to licence timing, despite evident groundswell in demand for Enterprise Innovation Management,” the broker said.

--- Adds broker comment --- 

Mon, 08 Oct 2018 09:11:00 +0100
<![CDATA[RNS press release - Second Price Monitoring Extn ]]> Mon, 08 Oct 2018 09:05:44 +0100 <![CDATA[RNS press release - Price Monitoring Extension ]]> Mon, 08 Oct 2018 09:00:17 +0100 <![CDATA[RNS press release - Trading Update ]]> Mon, 08 Oct 2018 07:00:05 +0100 <![CDATA[RNS press release - Doosan Bobcat Awards Sopheon Innovation Contract ]]> Mon, 10 Sep 2018 07:00:07 +0100 <![CDATA[RNS press release - Issue of Equity ]]> Fri, 07 Sep 2018 17:48:32 +0100 <![CDATA[RNS press release - Issue of Equity & Holdings in Company ]]> Wed, 29 Aug 2018 15:54:28 +0100 <![CDATA[RNS press release - Accolade Enterprise Innovation Management ]]> Tue, 28 Aug 2018 07:00:10 +0100 <![CDATA[RNS press release - Half Yearly Report ]]> Thu, 23 Aug 2018 07:00:07 +0100 <![CDATA[RNS press release - Second Price Monitoring Extn ]]> Thu, 19 Jul 2018 11:05:40 +0100 <![CDATA[RNS press release - Price Monitoring Extension ]]> Thu, 19 Jul 2018 11:00:33 +0100 <![CDATA[News - Sopheon soars as revenue visibility hits new record ]]> Shares in Sopheon PLC (LON:SPE) jumped on Thursday after the product lifecycle software developer posted yet another bullish trading update.

Only in June, the group said revenue visibility for 2018 had risen to US$23.5mln, an all-time high for that time of the year.

READ: Sopheon surges on “justifiably confident” AGM statement

A strong finish to the month means that figure has now grown once again to US$26.5mln – around 85% of what the market is expecting it to bring in this year.

In the first few weeks of the second half, sales activity has remained high, with the group trading “comfortably in line” with expectations.

“With this progress, we expect revenue, EBITDA and profit before tax for the first half of 2018 to be significantly ahead of prior year performance for the corresponding period,” read this morning’s statement.

Net cash at June 30 stood at US$15.5mln, compared to US$9.5mln at December 31, 2017, and US$6.6mln at June 30, 2017.

Sopheon ‘continues to surprise’

“Sopheon’s interim trading update reports continuing strong growth leading to performance significantly ahead of the prior year comparable period,” said finnCap analyst Andrew Darley.

“Visibility of revenue has grown to US$26.5mln, accounting for 85% of full-year revenue expectations, a visibility level not normally achieved until the fourth quarter.

“Sopheon continues to surprise to the upside, and interims will give us further evidence to evaluate the scale of the potential. Target 1000p reiterated.”

Shares climbed 18.2% to 898p on Thursday morning.

Thu, 19 Jul 2018 10:21:00 +0100
<![CDATA[RNS press release - Trading Update ]]> Thu, 19 Jul 2018 07:00:03 +0100 <![CDATA[RNS press release - Grant of Options / PDMR Dealing ]]> Thu, 05 Jul 2018 09:40:02 +0100 <![CDATA[RNS press release - Issue of Equity ]]> Tue, 03 Jul 2018 09:24:02 +0100 <![CDATA[RNS press release - Issue of Equity ]]> Wed, 13 Jun 2018 14:37:52 +0100 <![CDATA[RNS press release - Result of AGM ]]> Thu, 07 Jun 2018 12:09:58 +0100 <![CDATA[News - Sopheon surges after "justifiably confident" AGM statement ]]> Sopheon PLC (LON:SPE), the product life-cycle software provider, said its full-year revenue visibility is at an all-time high for this time of the year.

In a statement issued ahead of its annual general meeting (AGM), the company said last year’s positive momentum has continued this year, with the company signing new business that is underpinning performance expectations for the full-year.

READ: Investors cotton on to Sopheon's potential as numbers impress

“Full year revenue visibility for 2018 from contracted business and recurring revenue streams is now up 34% at US$23.5mln, compared to US$17.5mln at this time last year - an all-time high for our mid-year AGM report,” the company was set to tell shareholders at the AGM.

The recurring revenue streams include the effect of several perpetual licence deals and major services extensions, as well as a further major software-as-a-service (SaaS) deal closed during the current quarter.

The group said that, as per proposals outlined in its annual report, it is carrying out “ambitious investment plans” across multiple function areas of the business to scale-up for growth in 2018 and beyond.

Where appropriate, the board is also prepared to consider merger and acquisition opportunities if they are consistent with its goals and focused investment criteria.

“The board continues to be confident and enthusiastic about the prospects of the company, the out-turn for the year and the opportunity to continue to deliver on our vision,” the statement concluded.

WATCH: Sopheon PLC focused on expanding its footprint and seizing growth opportunities

House broker finnCap said Sopheon’s outlook statement for the current year was “justifiably confident”.

“Visibility (contracted revenue for delivery by year-end) of US$23.5mln represents 76% of full-year forecasts, an all-time high in absolute terms, and surpassing the best yet experienced in the range of 55%-73% enjoyed in the past ten years, at this stage of the year,” the broker said.

“Organic revenue growth expectations of 9% for the year are dwarfed by the 34% growth in visibility, and prospects are clearly strong: forecast are de-risked; earnings quality is improving; and investment in sales and marketing has the opportunity to deliver yet further momentum to growth,” it added, as it reiterated its price target at 1,000p.

Shares in Sopheon were up 7.4% at 945p in lunchtime trading.


Is Your Stage-Gate System Stuck in the Past?

— Sopheon (@Sopheon) June 5, 2018

--- adds broker comment and updates share price reaction ---

Thu, 07 Jun 2018 09:37:00 +0100
<![CDATA[RNS press release - AGM Statement ]]> Thu, 07 Jun 2018 07:00:05 +0100 <![CDATA[RNS press release - Issue of Equity ]]> Thu, 31 May 2018 14:56:56 +0100 <![CDATA[RNS press release - Result of Secondary Placing ]]> Thu, 17 May 2018 08:01:09 +0100 <![CDATA[RNS press release - Proposed Secondary Placing ]]> Wed, 16 May 2018 15:05:33 +0100 <![CDATA[RNS press release - Issue of Equity ]]> Tue, 15 May 2018 07:00:04 +0100 <![CDATA[RNS press release - Issue of Equity ]]> Fri, 27 Apr 2018 15:59:11 +0100 <![CDATA[News - Investors cotton on to Sopheon's potential as numbers impress ]]> It has taken a while for the stock market to get a handle on enterprise software group Sopheon plc (LON:SPE).

In January, however, a very strong trading update finally saw the penny drop and the share price has not looked back.

WATCH: Sopheon PLC focused on expanding its footprint and seizing growth opportunities

All metrics showed a big uplift: Sales rose 22%; margins improved; profit was ‘significantly ahead of expectations’ and net cash more than doubled to US$9.5mln.

Results in March added the final details with profits rising to US$5.1mln from US$3mln and a maiden dividend of 2.5p.

There was also some icing on the cake in the form of forward revenue for 2018 of US$19.3mln, up from US$13mln a year earlier.

The onus now is on Sopheon to maintain its progress, but chief executive Andy Michuda seems relaxed about that prospect.

While the share price momentum might look spectacular, it was market driven, the American said.

From a company’s perspective, management will just do the same things it has for some years now, he added.

Since 2014 sales have risen to US$28.5mln from US$18.3mln, while the group has strongly improved its profitability continuously for three years.

Helping to make decisions

Sopheon provides customers, multinationals primarily, with software (enterprise programmes) that helps the “client paint their go-forward growth strategy, track performance of strategic initiatives, and implement changes with speed and agility in response to how their businesses and markets perform”.

Its dashboards can identify areas of weakness or friction and help executives make decisions and devote resources more quickly and with transparency across large portfolios of business.

Speed in decision making is increasingly relevant today, says Michuda, as traditional business segments (or verticals) come under attack by start-ups and other ventures implementing new technologies and business models.

“In today’s business environment there is constant change and things move faster than they ever have before.

“As a result of how organisations have historically grown, all kinds of organisational frictions, silo’s and barriers prevent them from operating with speed.

“Our software brings people and data from disparate departments into a single repository and workflow, and allows executives to operate at speed, improve decisions, and decide priorities on where to invest for maximum return.”

Big names on customer list

Sopheon’s customer list is impressive and encompasses a host of household names such as Electrolux, Tetra Pak, Merck, Procter & Gamble and PepsiCo.

Originally, the company’s focus was on the R&D and product development process, but this has now broadened to the entire enterprise portfolio investment and strategy enablement arena.

“We have dashboards that give visibility to executives, who can make change and optimise performance, and to operational teams executing organisational strategy.”

Accolades for Accolade

Another trigger has been the growth of Accolade, Sopheon’s flagship enterprise software product.

Of note is a sharp rise in the size of the contracts being won.

Sopheon competes with software giants such as SAP as Accolade moves from a R&D sale to an enterprise sale, but Michuda believes the increasing market pull and size of orders indicate it is on the right track.

In a business where software traditionally focused on what had happened in the past, Accolade allows businesses to make decisions about the future, he says.

The most current version, Accolade 12.0, which among other features includes a new app for allowing data to be accessed and decisions to be made on a mobile or tablet, has just been launched.

Research analyst and industry advisor recognition

Among its peers, Sopheon has also achieved notable recognition.

Top market research house Gartner has cited it in five categories that are core to Sopheon’s business and span enterprise strategy realisation to product portfolio management, something no other software vendor in this space has managed.

Sopheon is also recognised as a leader in the Forrester Wave for Strategic Portfolio Management Tools.

Shares on a tear

Since January, the share price has risen from 350p to a near all-time high of 755p, which values the company at £75mln.

On sales of US$28.5mln and profits of US$5.1mln, that is a rate that is starting to catch up to Sopheon’s peer group but (just as Accolade does) the market is starting to look ahead to what might happen in future.

Management has already decided to put in the infrastructure for future expansion by strengthening sales, marketing and R&D.

While that will require investment, the sure-footed progress to this point has re-assured investors.

“We continue to invest to make our product smarter to stay ahead of the market,” says Michuda.

As its reach extends, partnerships will be an increasing focus.

Sopheon has just signed its first customer in Japan with the help of a local partner, and is looking at building on similar arrangements in China.

Asia is as yet untapped and potentially another huge opportunity for the company.

Michuda hints the company might also use its strong financial position for an acquisition if the right opportunity becomes available.

He insists, though, it will have to have strategic merit and not just be to bolt on growth.

SaaS opportunity

House broker finnCap, meanwhile, sees the emerging transition from licence sales to a pay-as-you-go service (SaaS) as another potential growth driver.

In addition, more sales could come from the existing customer base with additional applications for the Accolade platform, such as “capex management; corporate initiatives; and monitoring and monetisation of intellectual property.”

The house finnCap is a big fan and raised its share price target to 1,000p following the results, a valuation more in line with its peers said the broker.

“Visibility is at record levels and Sopheon’s stars are aligned.”

Thu, 19 Apr 2018 07:07:00 +0100
<![CDATA[Media files - Sopheon PLC focused on expanding its footprint and seizing growth opportunities ]]> Thu, 12 Apr 2018 09:06:00 +0100 <![CDATA[RNS press release - Accolade Release 12.0 ]]> Thu, 29 Mar 2018 07:00:12 +0100 <![CDATA[RNS press release - Issue of Equity ]]> Fri, 23 Mar 2018 15:56:49 +0000