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8CO - 8common Limited

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The 8common Group's primary business is in the development and distribution of two established software solutions: Expense8 and Realtors8. The solutions help companies, their employees and professionals control costs, boost productivity and in the case of Realtors8, generate leads.

http://www.8common.com
 
There has been no comment on 8CO since its listing and it's easy to understand why. After listing at 25c a share back in 2014 it has unceremoniously fallen to a low of 2.5c. Ouch!

However, there are signs that things may be finally improving. 8CO's primary product is the corporate Travel & Expense Management system Expense8 which is used by Woolworths, Broadcast Australia, Amcor and various State and Federal government agencies. It generates revenue on the SaaS (Software as a Service) model, using monthly recurring subscriptions and transaction-based fees.

The last quarterly released yesterday reported solid increases in revenue in FY2019 as compared with FY2018. The company expects this growth to continue into Q4 which is traditionally their strongest quarter of the year.



The 8CO share price has bounced back from 2.5c to 6.6c in the last two and a half months and could see further growth should they have a particularly strong finish to FY2019.

 
8CO has been powering ahead since I posted on 11 April when it was around 6.6c. Today it reached a high of 16c before settling back to its open price of 12c.

It looks like the Investor Update released yesterday has generated some real interest in the company.

 
Up 15.63% so far today to 0.185c

8common collars contract with Australian Government’s Department of Industry, Innovation and Science

8common (ASX: 8CO) has collared a contract with the Australian Federal Government’s Department of Industry, Innovation and Science worth at least $544,754 over three years.


Under the contract, 8common’s wholly-owned subsidiary Expense8 will deliver its cloud-based employee expense management platform across the department and its shared services customers.


“We have been very focused on delivering a best of breed solution, which works cohesively with other Department of Industry, Innovation and Science share service offerings, which include Aurion and TechnologyOne,” 8common executive chairman Nic Lim said.


“We look forward to onboarding the agencies and supporting their benefits realisation ambitions,” he added. More...
 

One problem I have on a fundamental level is that many Federal Government "Agencies" work on short term contracts and existence.

I'm not that impressed with their income thus far.

gg
 
My June stock tip! Enterprise SaaS expenses/cost management customer base and revenue is growing. Disposal of Realtors and concentration on development of core Enterprise management is growing revenue to over $4m yearly. New digital payments and cash card solutions bode well for a future where governments will be driving employment growth.
More of a long term than monthly tip maybe!
 
Have noticed this one again the last few days... not sure about it though, meaning, not sure if I am reading it correctly for a possible run up.

 
Price rising, largest volume day today in ~60 days. Don't hold.
(Was thinking of buying on Monday, but got scared off by vix etc.)

 
Still watching. Looking like a breakout.
Any recent thoughts on this one anyone?
Just noticed, there is an announcement this morning with plenty of tech buzzwords.
Will have to digest it first.

 
So, still holding.
Entry was TA based, now looking at FA to assist setting exit strategy.
Last announcement on 5th Nov summary,
8common partners with Sypht to harness Artificial Intelligence for expense8 and CardHero platforms

● 8common will leverage Sypht’s AI-driven optical character recognition (OCR) solution

● The expense8 platform will be implementing Sypht’s new document intelligence capabilities for the Federal Treasury in Q2 FY21

● The partnership will see 8common continue its track record of innovative technologies to simplify business for its customers

I found this a little interesting as eBay mentioned.
About Sypht;
Founded in 2018 in a partnership between BPAY Group and BCG Digital Ventures, Sypht is a leading
provider of AI-powered document intelligence solutions that helps businesses turn documents into
data, insights and action. Using the latest in machine learning, Sypht automatically extracts and
interprets key information, enabling organisations to automate processes, improve business efficiency, increase customer satisfaction and reduce costs.
 
ASX Release 18 November 2020
Federal Prime Minister & Cabinet (PMC) extends contract with
Expense8

Summary
● Federal Prime Minister & Cabinet (PMC) extends Expense8 contract for one year; representing estimated revenue of $236,000
(ex of GST).

● The current six-year contract consisted of an initial three-year fixed term and the option for three one-year extensions.
This extension represents the exercise of the second one-year option.

● 8common’s total FY21 contract wins to date of $1.1m (ex GST).

HUGE WIN hahaha
 
found on a chatsheet:

The first contract for 8common’s joint solution

8common (ASX:8CO) is best known for its travel expense software expense8 that is popular with government departments.

But back in August it partnered with larger peer EML Payments (ASX:EML) and launched CardHero and CardHero+. These act as virtual and physical prepaid Mastercards linked to a centralised platform for compliance monitoring.

Today 8common told shareholders it had signed its first significant CardHero contract. The inaugural client was not for profit entity Life Without Barriers.

8common says the three-year contract is worth $1.6 million including a one-off implementation fee and annual SaaS revenue thereafter. CardHero would be rolled out across 2,500 people from Life Without Barriers representing 15 per cent of the total employee and client base.

CEO Ben Brockhoff said he expected more clients soon, particularly from the not for profit sector.

“Our success in delivering travel and expense management solutions to government and large enterprises with expense8 ensures we have a robust underlying platform and support for the CardHero product rollout to one of Australia’s largest not for profit organisations,” he declared.
 
seems to be getting along

Half Year Highlights:
▪ Total revenue (excluding Government incentives) increased to $1.9m, an 9% increase over the previous corresponding period1
▪ Recurring SaaS and transaction-based revenue of $1.1m with an ARPU of $16.94 as COVID19 impacted travel and expense activity during the period
▪ $2.25m in operating cash receipts (+24% vs 1HFY19) delivering an operating cash inflow of $78k (outflow of $191k in 1HFY19),
▪ $2.3m in annualised recurring SaaS and transaction-based revenue as at 31 December 2020
▪ Over $3.16m in total contract wins in FY21 to date
▪ Total user numbers increased 23% over the period to 148k driven by new contract


Outlook
Over the remainder of FY21 the company will focus on:

The Company has a strong outlook for the remainder of the financial year with a significant pipeline of potential revenue growth via the implementation of our technology across State, Federal, Not-For-Profits and Corporate clients.
Click to expand...

back to nearly 20c...
 
8CO gets a Strong Buy over at Commsec, down 0.5c to 16c at today's close. DYOR!

 
Look at the announcement headline, and then check the user number in the KPI table.
This is an accounting software company.


 
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