28/02/2024 09:43

ReadyTech (RDY) $3.26

The student and workforce management software company announced half-year results yesterday with a strong first 6 months overshadowed by some softer outlook comments, seeing the stock close at 6-month lows on the day. We had a chance to speak to the management team following the result yesterday, and we remain confident in the position following the update.

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06/12/2023 09:20

ReadyTech (RDY) $3.53

We are currently sitting on a ~16% profit in ReadyTech (RDY), the provider of people management software, but its shares have waned following the spike post their FY23 results.

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23/08/2023 17:08

Readytech (RDY) $3.23

RDY +4.19%: results for the people management software business today went off largely without issue. Revenue of $103m was up 32% and only a small miss to consensus, while EBITDA jumped 21.7% to $34.8m which was in line with expectations.

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22/03/2023 09:24

Emerging Companies Portfolio – Amendments

We are making a number of amendments to the Emerging Companies Portfolio.

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22/02/2023 16:48

Readytech (RDY) $3.32

RDY -7.52%: An interesting smaller software business exposed to defensive areas such as local government, education & justice that we’ve owned in the past reported their 1H23 result today and talked to positive trends for the 2H – the share price was down but three things stood out to us.

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17/08/2022 16:53

ReadyTech (RDY) $3.20

RDY -0.62%: FY22 results this morning and we had the CEO & CFO in for lunch today. Revenue and underlying EBITDA was ~4% ahead of company guidance while they talked to strong momentum coming out of FY22 into FY23. The key highlight was the FY23 revenue guide that implies mid-teens growth again (off a growing base) and an increase in their FY26 revenue target to over $160m. While we don’t own RDY (yet) this is at the top of our Market Matters Hitlist for our Emerging Companies Portfolio.

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17/03/2022 16:54

Readytech (RDY) $3.06

RDY +3.38%: announced a small bolt-on acquisition to bolster their workforce management side of the business today. They’ll pay $2.1m upfront for recruitment SaaS business PheonixHRIS, valuing it at a 2.7x EV/Revenue including the full earn out. It adds a new element to their all-in-one HR offering with the new tech easily integrated to Readytech’s current system, it should be an easy upsell for existing clients.

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25/01/2022 09:28

ReadyTech Holdings $3.10

RDY offers people management software for educators, employers and facilitators across Australia and following its 30% correction we like this smaller $331m Sydney based tech business, its estimated valuation of 28.3x for 2022 is not challenging in our opinion and we think the risk / reward is excellent, a definite candidate for our Emerging Companies...

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24/08/2021 16:38

Readytech (RDY) $2.82

FY21 Result: The impressive education technology business posted a solid FY21 result today (~1% above Shaw’s expectations) however they outlined a path of strong organic revenue growth over the coming 5 years which speaks to increasing confidence from management and line of sight for the business. Shaw’s analyst Jules Cooper had this to say on the result… FY22 guidance implies...

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