Expert.ai

MI: EXAI

Market Cap€118.6m

Last Close €2.31

Expert.ai has developed and patented an AI-based technology platform that extracts useful information from unstructured text using a unique mix of natural language understanding and machine learning algorithms and applies it to verticals such as enterprise search, customer experience management and big data analytics.

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Investment summary

Expert.ai reported 11% y-o-y revenue growth in H121; subscription licences grew by 102% and revenue via channel partners by 133%. Reflecting the acceleration in sales hiring in H121, we have increased our forecasts for staff costs in FY21–23, which reduces our EBITDA forecasts for FY22 and FY23. To support US growth, expert.ai has established North American headquarters in Boston. The planned shift in listing from AIM Italia to Borsa Italiana should widen the potential investor audience for expert.ai and improve liquidity.

Y/E Dec
Revenue (€m)
EBITDA (€m)
PBT (€m)
EPS (c)
P/E (x)
P/CF (x)
2019A 33.7 5.5 (0.5) (1.6) N/A 35.9
2020A 30.6 (1.9) (10.6) (20.2) N/A N/A
2021E 32.4 (7.2) (15.0) (26.7) N/A N/A
2022E 45.5 (2.9) (11.6) (20.5) N/A N/A
Industry outlook

Ever-increasing amounts of data are being produced, 80% of which are estimated to be unstructured. The need to derive useful insights from this growing body of data is driving the demand for cognitive computing and smarter artificial intelligence solutions, such as those offered by Expert.ai. ResearchAndMarkets estimates that the global text analytics market was worth $4bn in 2018 and is forecast to grow at a CAGR of 17.3% to 2023.

Last updated on 07/12/2021
Content on Expert.ai
Expert.ai – Growth in focus areas
TMT | Update | 5 October 2021
artificial-intelligence-3382507_1920
Expert.ai – AI report interview
TMT | Edison TV | 16 August 2021
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Share price graph
Balance sheet
Forecast net cash (€m) 5.1
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (1.1) (19.1) 0.2
Relative* 1.5 (21.9) (19.0)
52-week high/low €3.4/€2.2
*% relative to local index
Key management
Walt Mayo CEO
Valentina Biscotti CFO
Marco Varone Founder and CTO
Stefano Spaggiari Founder and executive chairman