appScatter

LN: APPS

£15.7m market cap

17.25p last close

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.

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
Last updated on 21/03/2019
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 21/03/2019
Sector
TMT
Share price graph
Balance sheet
Forecast net debt (£m) N/A
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (5.5) (12.7) (80.9)
Relative* (7.6) (20.3) (81.5)
52-week high/low 93.0p/17.0p
*% relative to local index
Key management
Clive Carver Chairman
Philip Marcella CEO
James Eggleston Chief Technology Officer
Jason Hill Sales Director