appScatter

LN: APPS

Market Cap£16m

Last Close 17.25p

appScatter is a B2B mobile app distribution, management and intelligence company; its cloud-based platform helps customers distribute to and monitor over 50 app stores globally. It is building one of the largest repositories of app store data and aims to launch a marketplace to support third-party app integrations in 2018.

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Investment summary

The proposed £13.5m acquisition of Priori, a B2B SaaS platform provider of mobile app intelligence, would enhance appScatter’s data intelligence capabilities, add scale and provide cross-sell opportunities. To fund the deal and provide additional working capital, appScatter plans a fund-raising of at least £15m.

Y/E Dec
Revenue (£m)
EBITDA (£m)
PBT (£m)
EPS (p)
P/E (x)
P/CF (x)
2015A 0.0 (2.1) (2.1) N/A N/A N/A
2016A 0.0 (3.5) (3.6) N/A N/A N/A
2017E N/A N/A N/A N/A N/A N/A
2018E N/A N/A N/A N/A N/A N/A
Industry outlook

Google Play and the Apple App Store dominate the app store market in western geographies, accounting for 85% and 69% of all downloads in the US and UK. However, the scale of the remaining app store market is also vast, particularly in geographies such as China. Within this ‘other’ market, appScatter benefits from first-mover advantage, already distributing apps to, and monitoring their performance across, multiple app stores globally including the majors.

Last updated on 04/04/2019
Content on appScatter
appScatter Group (APPS); reports revenue at £710,926
TMT | Edison Sparks | 13 September 2019
appScatter Group (APPS); acquire Airpush and issue £2.2m new shares
TMT | Edison Sparks | 9 April 2019
appScatter Group (APPS); issues around 1.4m new ordinary shares at 70p each
TMT | Edison Sparks | 16 October 2018
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Balance sheet
Forecast net debt (£m) N/A
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (4.2) (13.8) (79.5)
Relative* (7.1) (20.4) (80.3)
52-week high/low 81.5p/17.0p
*% relative to local index
Key management
Clive Carver Chairman
Philip Marcella CEO
James Eggleston Chief Technology Officer
Jason Hill Sales Director
Company website

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